Common use of Damages Clause in Contracts

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.

Appears in 8 contracts

Sources: Lease Agreement, Lease Agreement, Lease Agreement

Damages. In the event of any termination of If this Lease lease is terminated under the provisions of Article 16 hereof Section 6.03, or in the event that if Landlord shall re-enter enters the premises Demised Premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Section 6.04, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then value of the excess, if any, of of: (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which Rent which, had this lease not terminated, would have been paid payable hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or on the day following the date of any such termination or re-entry, as entry to and including the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date; over (2) the aggregate fair rental value of the premises Demised Premises for the same periodperiod (for the purposes of this clause (a) the amount of Additional Rent which would have been payable by Tenant under Sections 2.02 and 2.03 shall, for each calendar year ending after such termination or re-entry, be deemed to be an amount equal to 105% of the amount of such Additional Rent payable by Tenant for the calendar year immediately preceding the calendar year in which such termination or re-entry shall occur in the case of the first such calendar year and the immediately prior calendar year in the case of each succeeding calendar year); or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which Rent that would have been payable by Tenant through and including the Expiration Date had this Lease lease not so terminated, terminated or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedin this lease; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Demised Premises for all or any part of said periodthe period commencing on the day following the date of such termination or re-entry to and including the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or lease and of re-entering the premises Demised Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Demised Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that that: (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, under this lease; (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) Section 6.05(b), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and ; (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting; and (iv) Landlord shall have no obligation to so relet the purposes of subparagraph (a) of this Article 18Demised Premises and Tenant hereby waives any right Tenant may have, at law or in equity, to require Landlord to so relet the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryDemised Premises. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term or a renewal thereof would have expired if it had not been terminated under the provisions of Article 16 hereof, but for such termination or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantentry.

Appears in 5 contracts

Sources: Lease Agreement (1847 Goedeker Inc.), Lease Agreement (1847 Goedeker Inc.), Lease Agreement (1847 Goedeker Inc.)

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant ▇▇▇▇▇▇ had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.

Appears in 4 contracts

Sources: Lease Agreement, Lease Agreement, Lease Agreement

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-re- entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant ▇▇▇▇▇▇ had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-re- letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-re- letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-re- letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.

Appears in 3 contracts

Sources: Store Lease, Commercial Lease, Commercial Lease

Damages. In Whether or not this Lease or Tenant’s right of possession is terminated following such Default, Tenant nevertheless shall remain liable for: (a) all Basic Monthly Rent and Additional Rent (including, without limitation, all damages sustained by Landlord by reason of the event Default) which have become due until the expiration of the Term or sooner termination of the Lease (less the amount of rental, if any, that Landlord actually receives during such period from others to whom the Premises is rented (other than any Additional Rent received by Landlord as a result of any termination failure of this Lease under such other person to perform any of its obligations to Landlord)), and all costs, fees and expenses (including, without limitation, reasonable attorneys’ fees, brokerage fees, and expenses incurred in placing the provisions Premises in first-class rentable condition including, without limitation, alterations of Article 16 hereof the Premises), incurred by Landlord in pursuit of its remedies hereunder or in renting the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event Premises to others from time to time (all such Basic Monthly Rent, Additional Rent, damages, costs, fees and expenses are herein called “Accrued Damages”); and (b) additional damages commencing as of the termination of this Lease day following the last day Accrued Damages are applicable (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)herein called “Termination Damages”, Tenant will pay to Landlord as damageswhich, at the election of Landlord, either: shall be either (aprovided that Landlord may initially elect under Section 21.2.2(b)(i), and subsequently at any time elect under Section 21.2.2(b)(ii) a sum at which for the remaining applicable period at the time of such termination of this Lease or at election): (i) An amount equal to the time of any such re-entry by Landlord, as Basic Monthly Rent and Additional Rent that would have become due during the case may be, represents the then value remainder of the excessTerm, and, to the extent not included in Accrued Damages above, all costs, fees and expenses (including, without limitation, reasonable attorneys’ fees, brokerage fees, and expenses incurred in placing the Premises in first-class rentable condition including, without limitation, alterations of the Premises), incurred by Landlord in pursuit of its remedies hereunder or in renting the Premises to others from time to time, less the amount of rental, if any, that Landlord actually receives during such period from others to whom the Premises is rented (other than any Additional Rent received by Landlord as a result of (1) any failure of such other person to perform any of its obligations to Landlord), in which case such Termination Damages shall be computed and payable in monthly installments, in advance, on the aggregate first day of each calendar month following the fixed rent last day Accrued Damages are applicable and continuing until the additional rent under Article 24 hereof date on which the Term would have been paid hereunder by Tenant had this Lease not so terminated, expired but for the period commencing with such earlier termination of this Lease Tenant’s Default. Separate suits or the date of actions may be brought to collect any such re-entry, as the case may beTermination Damages for any month or months, and ending with such separate suits or action shall not in any manner prejudice the date hereinbefore set right of Landlord to collect any Termination Damages for any subsequent month or months by similar proceedings, or Landlord may defer any suits or actions until after the expiration of the full term granted, over Term; or (2ii) The amount determined by subtracting (A) the aggregate present value (as of the first date Termination Damages are applicable) of the fair rental value of the premises Premises for the same period, or (b) sums equal to the aggregate remainder of the fixed rent Term (in determining such fair rental value, the Basic Monthly Rent and operating cost charges then being paid by tenants for comparable space in comparable buildings in equally desirable locations in the additional rent under Article 24 hereof Fredericksburg regional area shall be considered), from (if anyB) which the present value (as of the first date Termination Damages are applicable) of all Basic Monthly Rent and Additional Rent that would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered become due during the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration remainder of the full term hereby granted; providedTerm (with such present values being determined using a discount rate of eight percent (8%) per annum), howeverwhich Termination Damages shall be payable to Landlord in one lump sum on demand. For this purpose, Additional Rent shall be calculated on the basis that if Landlord Tenant’s Proportionate Share of increases in Operating Expenses and Taxes would increase at the rate such expenses have generally increased in the Fredericksburg regional area for comparable Buildings during the preceding five (Landlord5) years, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be as reasonably determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of TenantLandlord.

Appears in 3 contracts

Sources: Commercial Office Lease, Commercial Office Lease (Technest Holdings Inc), Commercial Office Lease (Technest Holdings Inc)

Damages. In the event of any termination of 26.1 If this Lease is terminated under the provisions of Article 16 hereof 24, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 25, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or of any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a A sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedDemised Premises, over (2ii) the aggregate rental value of the premises Demised Premises for the same period, or (b) sums Sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.dates

Appears in 2 contracts

Sources: Lease Agreement (Paradyne Corp), Lease Agreement (Globespan Semiconductor Inc)

Damages. In the event of any termination of 27.01 If this Lease lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 26, or in the event of the termination of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of: (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, over Demised Premises; over (2ii) the aggregate rental value of the premises Demised Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of lease or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenantsTenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis (for equivalent space) shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entry. the reletting. 27.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease lease would have expired if it had not been so terminated under the provisions of Article 16 hereof25, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this lease or re-entry on the Demised Premises for the default of Tenant under this lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 27.01.

Appears in 2 contracts

Sources: Lease Agreement (Angion Biomedica Corp.), Lease (Angion Biomedica Corp.)

Damages. 21.3.1 In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), or in the event that Landlord shall reenter the Premises under the provisions of this Lease, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent installments of Base Rent and the additional rent under Article 24 hereof Additional Rent (if any) which would have been paid payable hereunder by Tenant Tenant, had this Lease not so terminatedterminated or had Landlord not reentered the Premises, for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set forth initially for the expiration of the full term grantedof this Lease pursuant to Articles 1 and 2, over (2ii) the aggregate rental value of the premises Premises for the same period, period (the amounts of each of clauses (i) and (ii) being first discounted to present value at an annual rate of six (6%) percent); or (b) sums equal to the aggregate of the fixed rent installments of Base Rent and the additional rent under Article 24 hereof Additional Rent (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore Expiration Date originally set forth in this Lease for the expiration of the full term hereby grantedTerm; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering reentering the premises Premises and of securing possession thereof, including reasonable attorneys’ fees and costs of removal and storage of Tenant’s property, as well as the expenses of re-lettingreletting, including altering repairing, restoring and preparing improving the premises Premises for new tenants, brokers' commission’ commissions, advertising costs, reasonable attorneys' fees ’ fees, and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Lease; provided, provided further, that (i1) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii2) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph Subdivision (b) to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii3) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting, or if relet for a period longer than the purposes of subparagraph (a) remaining Term of this Article 18Lease, the amount expenses of additional rent which would have been payable by Tenant under Article 24 hereof reletting shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder apportioned based on the part of Tenantrespective periods.

Appears in 2 contracts

Sources: Office Lease (GrubHub Inc.), Office Lease (Learning Tree International Inc)

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event (a) Tenant covenants and agrees that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by Landlord, under, any of the provisions of this Article 17 or under any summary dispossess or other proceeding or action or any provision pursuant to law, by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord Landlord, as damagesdamages with respect to this Lease, at the election of Landlord, either: (a1) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of the present value (1discounted at 5% per annum) of: (i) the aggregate of the fixed rent and the additional rent under Article 24 hereof Rent which would have been paid hereunder payable by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date of this Lease, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, over Demised Premises over (2ii) the aggregate fair market rental value of the premises Demised Premises for the same period, ; or (b2) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor days specified herein in this Lease following such termination or such re-entry and until the date hereinbefore set for the expiration Expiration Date of the full term hereby granted; this Lease, provided, however, that if Landlord (Landlord, however, not being obligated to do so) the Demised Premises shall be leased or re-let all or any part of the premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually rents, if any, received by Landlord from such leasing or re-letting, such net rents Rent to be determined by first deducting from the gross rents as and when received by Landlord from such leasing or re-letting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or or of re-entering the premises Demised Premises and of securing possession thereof, as well as the expenses expense of leasing and re-letting, including altering and preparing any portion of the premises Demised Premises for new tenants, brokers' commission, attorneys' fees ’ commissions and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Leasetherefrom; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums Rent, payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph . (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such any and all damages, or any installments thereof, provided for hereunder may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of this Article 16 hereof17, or under provisions of any provision of law, or had the Landlord not re-entered the premises. Demised Premises. (c) Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, which Landlord may lawfully be entitled in any case other than those particularly provided for above other than punitive or consequential damages, which are hereby waived by reason of any default hereunder on the part of TenantLandlord.

Appears in 2 contracts

Sources: Lease Agreement (G Iii Apparel Group LTD /De/), Lease Agreement (G Iii Apparel Group LTD /De/)

Damages. In the event of any termination of 24.01. If this Lease is terminated under the provisions of Article 16 hereof 22 hereof, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 23 hereof, or in the event of the termination of this Lease (Lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if anyany (assuming a discount at a rate per annum equal to the interest rate then applicable to 7-year Federal Treasury Bonds), of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Charges under Article 3 hereof to be the same as were payable for the last 12 calendar months, or if less than 12 calendar months have then elapsed since the Commencement Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration of date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term grantedPremises, over (2ii) the aggregate fair market rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration of date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term hereby granted; Premises, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees reasonable legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Premises or any part thereof be relet by Landlord for the greater of subparagraph ten (a10) years or the unexpired portion of the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such termination of reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant’s liability for damages or otherwise under this Lease or such re-entryLease. 24.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 22 hereof, or under any provision of law, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this Lease or reentry on the Premises for the default of Tenant under this Lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01 hereof.

Appears in 2 contracts

Sources: Operating Agreement (New York Times Co), Operating Agreement (New York Times Co)

Damages. 2.1 In the event of any termination of this Lease Agreement under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will or in the event that Grantor shall re-enter the Grantee Space under the provisions of this Agreement, Grantee shall pay to Landlord Grantor as damages, at the election of LandlordGrantor, either: (ai) a sum at which at the time of such termination of this Lease Agreement or at the time of any such re-entry replacement of Grantee by LandlordGrantor, as the case may be, represents the then value of the excess, if any, of (1a) the aggregate of the fixed rent installments of Base Colocation Fees and the additional rent under Article 24 hereof Additional Colocation Fees (if any) which would have been paid payable hereunder by Tenant Grantee, had this Lease Agreement not so terminated, for the period commencing with such earlier termination of this Lease Agreement or the date of any such re-entryreplacement of Grantee, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, hereby granted over (2b) the aggregate rental colocation license value of the premises Grantee Space for the same period, period (the amounts of each of clauses (a) and (b) being first discounted to present value at an annual rate equal to the then prevailing discount rate announced by the Federal Reserve Bank); or (bii) sums equal to the aggregate of the fixed rent installments of Base Colocation Fees and the additional rent under Article 24 hereof Additional Colocation Fees (if any) which would have been payable by Tenant Grantee had this Lease Agreement not so terminated, or had Landlord Grantor not so re-entered the premisesGrantee Space and replaced Grantee, payable upon the due dates therefor specified herein following such termination or such re-entry replacement of Grantee by Grantor and until the date hereinbefore herein before set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated Grantor shall grant any third party the right to do so) shall re-let all or any part of use the premises for all or any part of Grantee Space during said period, Landlord Grantor shall credit Tenant Grantee with the net rents actually colocation fees received by Landlord Grantor from such re-lettingthird party’s use, such net rents fees to be determined by first deducting from the gross rents fees as and when received by Landlord Grantor from such re-letting use the expenses, including attorneys fees, expenses incurred or paid by Landlord Grantor in terminating this Lease and/or Agreement and of re-entering the premises Grantee Space and of securing possession thereof, including actual attorneys’ fees and costs of removal and storage of Grantee’s property, as well as the expenses of re-lettingusing the space, including altering repairing, restoring and preparing improving the premises Grantee Space for new tenantsoccupants, brokers' commission’ commissions, advertising costs, actual attorneys' fees and disbursements, and all other similar or dissimilar expenses properly chargeable against the premises Grantee Space and the rental fees therefrom in connection with such re-lettinguse, it being understood that any such re-letting use may be for a period equal to, less than to or shorter or longer than the remaining term of this LeaseAgreement; provided, and provided further, that (ia) in no event shall Tenant Grantee be entitled to receive any excess or of such net rents fees over the sums payable by Tenant Grantee to Landlord hereunderGrantor under this Agreement, (iib) in no event shall Tenant Grantee be entitled in any suit for the collection of damages pursuant to this subparagraph Subdivision (bii) to a credit in respect of any net rents fees from a re-letting third party’s use except to the extent that such net rents fees are actually received by Landlord Grantor prior to the commencement of such suit, and (iiic) if the premises Grantee Space or any part thereof should be re-let used in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent colocation fees received from such re-letting use and of the expenses of re-letting. using the space, or if re-used for a period longer than the remaining term of this Agreement, the expenses of re-using shall be apportioned based on the respective periods. 2.2 For the purposes of subparagraph (aSubdivision 2.1(i) of this Article 18Exhibit “D”, the amount of additional rent Additional Colocation Fees which would have been payable by Tenant under Article 24 hereof Grantee for each year, as therein provided, ending after such termination of this Agreement or such replacement of Grantee by Grantor, shall be deemed to be an amount equal to the amount of such additional rent Additional Colocation Fees payable by Tenant Grantee for the applicable period calendar year ending immediately preceding such termination of this Lease Agreement or such re-entryreplacement of Grantee by Grantor. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord Grantor from time to time at its Grantor’s election, and nothing contained herein shall be deemed to require Landlord Grantor to postpone suit until the date when the term of this Lease Agreement would have expired if it had not been terminated under the provisions of Article 16 hereofthis Exhibit “D”, or under any provision of law, or had the Landlord Grantor not re-entered the premises. Grantee Space and replaced Grantee. 2.3 Nothing herein contained in this Exhibit “D” shall be construed as limiting or precluding the recovery by Landlord Grantor against Tenant Grantee of any sums payments or damages to which, in addition to the damages particularly provided above, Landlord Grantor may lawfully be entitled by reason of any default hereunder on the part of TenantGrantee. The failure or refusal of Grantor to grant a license to use the Grantee Space or any part or parts thereof to a third party, or the failure of Grantor to collect the colocation fees thereof under such re-use, shall not release or affect Grantee’s liability for damages. 2.4 Grantee hereby knowingly and voluntarily waives, after advice of competent counsel, any duty of Grantor (and any affirmative defense based upon such duty) following any default to mitigate Grantor’s damages arising from such default. Notwithstanding the foregoing, Grantor agrees to use commercially reasonable efforts to mitigate its damages in connection with a default by Grantee.

Appears in 2 contracts

Sources: Colocation Agreement, Colocation Agreement (Telx Group, Inc.)

Damages. In Whether or not Landlord shall elect to terminate this Lease pursuant to Subsection 24(b)(iii) above, notwithstanding reentry upon the Premises by Landlord and in addition to and without limiting Landlord’s right to other damages, upon the occurrence of an event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord default Tenant shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay be and remain liable to Landlord in an amount computed as damages, at the election of Landlord, either: follows: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount sum of such additional rent all Rent then in arrears plus the aggregate of all Rent which is payable by Tenant under this Lease for the applicable period ending immediately preceding such termination balance of this Lease or such re-entry. Suit or suits for the recovery Term, computed as if no event of such damages, or default had occurred and any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it reentry had not been terminated made; plus (b) all costs and expenses incurred by Landlord in connection with the event of default and any reletting of the Premises, including, without limitation, (i) costs of reentry, repair and renovation, (ii) the value of all inducements granted or paid to new tenants of the Premises in connection with reletting including, without limitation, construction allowances and the value of rent-free periods, (iii) brokers’ commissions and advertising expenses, (iv) watchman’s wages and any sheriff’s, ▇▇▇▇▇▇▇▇’s, constable’s or other officials’ commissions, chargeable to Landlord; plus (c) interest accrued on the aggregate of the aforesaid sums from the date each was payable (or, with respect to sums owing under clause (b) from the provisions date each was incurred by ▇▇▇▇▇▇▇▇) until paid by ▇▇▇▇▇▇ (whether before or after judgment) at the rate of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained Interest; which sum shall be construed as limiting or precluding the recovery credited with (d) all rentals actually received by Landlord against during the remainder of the Term from any replacement Tenant of any sums or damages to which, in addition to which the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of TenantPremises are relet.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement

Damages. In the event of any termination of 18.01. If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed rent Basic Annual Rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of Taxes and Property Expenses shall be presumed to increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedDemised Premises, over over (2) the aggregate rental value of the premises Demised Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Basic Annual Rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-re- entry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) in . In no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderhereunder for the period of such re-letting, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes Demised Premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or pursuant to such re-entryletting shall, prima facie, be the fair and reasonable rental value for the Demised Premises, or part thereof, so re-let during the term of the re-letting. 18.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01.

Appears in 2 contracts

Sources: Office Lease (Exodus Communications Inc), Office Lease (Exodus Communications Inc)

Damages. In the event of any termination of 24.01. If this Lease lease is terminated under the provisions of Article 16 hereof 22, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 23, or in the event of the termination of this Lease (lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if anyany (assuming a discount at a rate per annum equal to the interest rate then applicable to United States Treasury Bonds having a term which most closely approximates the period commencing on the date that this lease is so terminated, or the date on which Landlord re-enters the Premises, as the case may be, and ending on the date on which this lease was scheduled to expire but for such termination or reentry, which date shall be the last day of the next succeeding Extension Term if Tenant timely delivered an Extension Election Notice prior to the exercise by Landlord of its rights under Article 22 or 23), of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent under Article 24 hereof Net Taxes Additional Charges which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Net Taxes Additional Charges to be the same as were payable for the last twelve (12) calendar months, or if less than twelve (12) calendar months have then elapsed since the Commencement Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration date hereof if this lease had not so terminated or if Landlord had not so reentered the Premises, which date shall be the last day of the full term grantednext succeeding Extension Term if Tenant timely delivered an Extension Election Notice prior to the exercise by Landlord of its rights under Article 22 or 23, over (2ii) the aggregate fair market rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof (if any) Net Taxes Additional Charges which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration date hereof if this lease had not so terminated or if Landlord had not so reentered the Premises (which date shall be the last day of the full term hereby grantednext succeeding Extension Term if Tenant timely delivered an Extension Election Notice prior to the exercise by Landlord of its rights under Article 22 or 23); provided, however, that if Landlord (Landlordshall relet the Premises during said period, however, not being obligated to do so) shall re-let all or receive any part other income or consideration in connection with the use or occupancy of the premises for all Premises or any part otherwise deriving therefrom (including without limitation through the receipt of said periodinsurance or condemnation proceeds), Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting (or the net amounts of such other income or consideration), such net rents and other amounts to be determined by first deducting from the gross rents from such reletting (or the gross amounts of such other income or consideration) as and when received by Landlord from such re-letting the expenses, including attorneys fees, reasonable and actual expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering lease or in reentering the premises Premises and of in securing possession thereof, as well as the reasonable and actual expenses of re-lettingreletting (including, including without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees reasonable legal fees, and all other similar or dissimilar customary and reasonable expenses properly chargeable against the premises Premises and the rental therefrom in connection with therefrom) or of realizing such re-lettingother income or consideration, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term Term, which date shall be the last day of this Leasethe next succeeding Extension Term if Tenant timely delivered an Extension Election Notice prior to the exercise by Landlord of its rights under Article 22 or 23; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents or other amounts over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting or any net amounts of such other income or consideration, except to the extent that such net rents or other amounts are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the Term, or any part thereof, before presentation of this Article 18proof of such damages to any court, commission or tribunal, the amount of additional rent which would reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Premises, or part thereof, so relet during the term of the reletting, provided that such reletting shall constitute a bona-fide arm’s-length third party transaction. Notwithstanding anything to the contrary contained in this lease, except as may be required by then applicable Legal Requirements, Landlord shall have been no obligation to relet the Premises or mitigate damages if this lease shall terminate in accordance with Article 22 and Landlord shall not be liable in any way whatsoever for its failure to relet the Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such reletting, and no such failure to relet or failure to collect rent shall release or affect Tenant’s liability for damages or otherwise under this lease. If Landlord or any Affiliate of Landlord shall use or occupy the Premises or any portion thereof following the termination of this lease under the provisions of Article 22, the damages payable by Tenant under Article 24 hereof pursuant to paragraph (b) above shall be deemed to be an amount equal reduced by the fair market rental value of the Premises or such portion thereof that is so occupied by Landlord or its Affiliate (or by the excess, if any, of such fair market rental value over the amounts, if any, actually paid by Landlord or such Affiliate in connection with such use or occupancy). Notwithstanding anything to the amount contrary contained herein, Landlord shall not commence any action for, nor require Tenant to pay damages calculated in accordance with the provisions of such additional rent payable by Tenant for paragraph (a) above prior to the applicable period ending immediately preceding such termination date upon which any rights of this Lease or such re-entryany Leasehold Mortgagee pursuant to Article 43 (if applicable) to cure Tenant’s default and to request and receive a new lease have expired. 24.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof, or under any provision of law22, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this lease or reentry on the Premises for the default of Tenant under this lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01. Except as expressly provided in this lease, Landlord shall not be liable to Tenant, and Tenant shall not be liable to Landlord, for indirect, consequential, special, punitive, exemplary, incidental or other like damages (including, without limitation, damages to Landlord for lost profits or opportunities, or the loss by foreclosure, deed in lieu, or otherwise, of all or any portion of Landlord’s interest in the Premises), even if arising from any act, omission or negligence of such party or from the breach by such party of its obligations under this lease. 24.03. [Intentionally Omitted] 24.04. In addition, if this lease is terminated under the provisions of Article 22, or if Landlord shall reenter the Premises under the provisions of Article 23, Tenant agrees that: (a) the Premises then shall be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration of the term hereof; (b) Tenant shall have performed prior to any such termination any covenant of Tenant contained in this lease for the making of any Alterations or for restoring or rebuilding the Premises or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 24.04, Landlord shall be entitled immediately, without notice or other action by Landlord, to recover, and Tenant shall pay, as and for liquidated damages therefor, the cost of performing such covenant (as estimated by a reputable independent contractor selected by Landlord). 24.05. In addition to any other remedies Landlord may have under this lease, and without reducing or adversely affecting any of Landlord’s rights and remedies under Article 22, if any installment of Fixed Rent or of any Additional Charges payable hereunder by Tenant to Landlord is not paid (x) in the case of Fixed Rent, on or prior to the due date thereof, or (y) in the case of Additional Charges payable to Landlord within five (5) Business Days after the due date thereof, the same shall bear interest at the Interest Rate from the due date thereof until paid, and the amount of such interest shall be an Additional Charge hereunder; provided, that, if for the month in which there is an increase in Fixed Rent pursuant to Section 1.04(a), Tenant fails to pay the adjusted amount of Fixed Rent (but pays at least the amount of Fixed Rent for the immediately preceding month), interest under this Section 24.05 shall not accrue unless Tenant fails to pay the amount of such shortfall within seven (7) Business Days after receiving notice thereof from Landlord, and if Tenant fails to pay such shortfall within said seven (7) Business Day period, interest shall accrue only on the amount of such shortfall from the day such Fixed Rent was first due and payable until the date such shortfall is paid. Landlord shall provide Tenant with notice of any failure of Tenant to pay Fixed Rent and/or Additional Charges; it being understood and agreed that the delivery of any such notice shall not be a condition to the imposition of interest pursuant to this Section 24.05. For the purposes of this Section 24.05, a rent ▇▇▇▇ sent by first class mail, to the address to which notices are to be given under this lease, shall be deemed a proper demand for the payment of the amounts set forth therein but no such demand shall be required as a condition to the payment thereof. To the extent that Tenant is required under this lease to make any payments directly to third parties on behalf of Landlord, Tenant shall be responsible for any late charges or interest imposed by such third parties in the event that Tenant does not make such payments in a timely manner.

Appears in 2 contracts

Sources: Lease (Citigroup Inc), Lease Agreement (Citigroup Inc)

Damages. In the event of any termination of If this Lease is terminated under the provisions of Article 16 hereof Section 6.03, or in the event that if Landlord shall re-enter enters the premises Premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Section 6.04, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant Rent which, had this Lease not so terminated, would have been payable hereunder by Tenant for the period commencing with such earlier termination of this Lease or on the day following the date of any such termination or re-entry, as entry to and including the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date over (2) the aggregate fair rental value of the premises Premises for the same periodperiod (for the purposes of this clause (a) the amount of Additional Rent which would have been payable by Tenant under Sections 2.04 and 2.05 shall, for each calendar year ending after such termination or re-entry, be deemed to be an amount equal to the amount of such Additional Rent payable by Tenant for the calendar year immediately preceding the calendar year in which such termination or re-entry shall occur), or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which Rent that would have been payable by Tenant through and including the Expiration Date had this Lease not so terminated, terminated or had Landlord not so re-re entered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedin this Lease; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe period commencing on the day following the date of such termination or re-entry to and including the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderunder this Lease, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) Section 6.05(b), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to on account of any period that is the commencement subject of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting, and (iv) Landlord shall have no obligation to so relet the purposes of subparagraph (a) of this Article 18Premises and Tenant hereby waives any right Tenant may have, at law or in equity, to require Landlord to so relet the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryPremises. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been terminated under the provisions of Article 16 hereof, but for such termination or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantentry.

Appears in 2 contracts

Sources: Lease (Y-mAbs Therapeutics, Inc.), Lease (Y-mAbs Therapeutics, Inc.)

Damages. In the event of any termination of that this Lease under be terminated pursuant to Article 20 as a result of an Event of Default on the provisions part of Article 16 hereof the Tenant and whether or in not the event that Premises be relet, Landlord shall re-enter be entitled to retain all monies, if any, paid by Tenant to Landlord, whether as advance rent or otherwise, but such monies shall be credited by Landlord against any rent due at the premises under the provisions time of Article 17 hereof such termination, or in the event of the termination of this Lease (or of re-entry at Landlord’s option, against any damages payable by or under any summary dispossess or other proceeding or action or any provision of law)Tenant, and Landlord shall be entitled to recover from Tenant, and Tenant will shall pay to Landlord as damages, at the election of Landlord, eitherfollowing: (a) a sum at All Rent to the date upon which at this Lease and the time Term shall have terminated, and (b) All expenses reasonably incurred by Landlord in recovering possession of such the Premises (including summary proceedings), restoring the Premises to good order and condition, maintaining the Premises in good order and condition while vacant, altering or otherwise preparing the same for reletting, and in reletting the Premises (including brokerage commissions and legal expenses), plus all costs and expenses incurred by Landlord in applying for Landlord’s Permits, the same to be paid by Tenant to Landlord on demand, and (c) The amount by which the Rent which, but for the termination of this Lease, would have been payable under this Lease or at from the time date of any such re-entry by Landlord, as termination to the case may be, represents Expiration Date exceeds the then value of the excessrental and other income, if any, of (1) the aggregate collected by Landlord in respect of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminatedPremises, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part thereof, subject nevertheless to the provisions of the premises for all or any part of Section 20.5, said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents amount to be determined by first deducting from the gross rents as due and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for on the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment several days on a square foot area basis shall be made of which the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of reserved in this Lease would have expired if it had not been terminated under become due and payable for the provisions period which otherwise would have constituted the unexpired portion of Article 16 hereofthe Term (that is to say, or under any provision upon each of law, or had such days Tenant shall pay to Landlord the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant amount of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantdeficiency then existing).

Appears in 2 contracts

Sources: Lease Agreement (ProPhase Labs, Inc.), Lease Agreement (ProPhase Labs, Inc.)

Damages. In the event of any termination of 18.01. If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed basic annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed basic annual rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commission’ commissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) in . In no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderhereunder for the period of such re-letting, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or pursuant to such re-entryletting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. Only to the extent mandated by a Legal Requirement, Landlord shall endeavor to exercise reasonable efforts to mitigate damages. Notwithstanding the foregoing, Landlord shall be under no obligation in re-letting the demised premises to: (i) give priority to the rental thereof over other available space in the Building, (ii) modify the tenant mix in the Building that Landlord seeks to achieve, (iii) contract with a party at a rental below fair market value, as determined by Landlord, (iv) contract with a party which fails to meet Landlord’s standards of adequate creditworthiness, (v) contract with a party which does not meet the requirements of any Superior Instruments (defined in Section 25.01.(a) hereof), (vi) contract with a party which could impose an increased burden on the services or facilities of the Building, or (vii) contract with a party represented by a broker, agent or salesperson who requests of Landlord a commission on terms unacceptable to Landlord. If the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot basis shall be made of the rent received from such re-letting and of the expenses of re-letting 18.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01.

Appears in 2 contracts

Sources: Sublease Agreement (Scynexis Inc), Office Lease (Optimer Pharmaceuticals Inc)

Damages. 18.1 DAMAGES In the event of any a termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)resulting from Tenant's Default, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then amount discounted to present value of the excess, if any, any of (1i) the aggregate of the fixed rent Base Rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant (making reasonable assumptions with respect to additional rent) which, had this Lease not so terminated, would have been payable hereunder by Tenant for the period commencing with such earlier termination of this Lease or the day following the date of any such re-entry, as the case may be, termination and ending with the date hereinbefore set for the expiration of the full term granted, of this Lease over (2ii) the aggregate fair rental value of the premises Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent Base Rent and the additional rent under Article 24 hereof (if anymaking reasonable assumptions with respect to additional rent) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedof this Lease; providedPROVIDED, howeverHOWEVER, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe period commencing on the day following the date of such termination and ending on the date hereinbefore set for the expiration of the term of this Lease, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating APPLIX, INC. LEASE AGREEMENT this Lease and/or and of re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; providedPROVIDED, furtherFURTHER, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) ), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of or during such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof Landlord shall be deemed use commercially reasonable efforts to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entrymitigate damages. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premisesbut for such termination. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant; PROVIDED, HOWEVER, that Tenant shall not be liable to Landlord for any consequential damages. In the event of a breach or threatened breach on the part of Tenant with respect to any of the covenants or agreements on the part of or on behalf of Tenant to be kept, observed or performed, Landlord shall also have the right to seek injunctive relief. The specified remedies to which Landlord may resort hereunder are cumulative and are not intended to be exclusive of any other remedies or means or redress to which Landlord may lawfully be entitled at any time, and Landlord may invoke any remedy allowed at law or in equity as if specific remedies were not herein provided for. If Tenant shall default, after notice thereof as hereinabove required, 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 section of this Lease, Landlord, without waiving such default, may remedy such default for the account and at the expense of Tenant. If 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 in instituting, prosecuting or defending any action or proceeding against Tenant hereunder, or against any other party as a result of Tenant's default hereunder, such sums paid or obligations incurred, with interest at the rate of twelve (12%) per annum and costs, shall be paid to Landlord by Tenant as additional rent.

Appears in 1 contract

Sources: Single Tenant Commercial Lease (Applix Inc /Ma/)

Damages. In the event of any termination of this Lease under the provisions of pursuant to Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease 19 (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of lawa "Default Termination"), Tenant will pay to Landlord as damages, at the election of Landlord, either:, (a) a sum at which Landlord may recover from Tenant the total of: (i) the worth at the time of award of the unpaid fixed rent and additional rent earned to the date of such termination of this Lease or Default Termination; (ii) the worth at the time of any such re-entry by Landlord, as the case may be, represents the then value award of the excess, if any, of (1) amount by which the aggregate of the unpaid fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or earned after the date of any such re-entry, as Default Termination until the case may be, and ending with time of award exceeds the date hereinbefore set for amount of such rental loss that Tenant proves could have been reasonably avoided; (iii) the expiration worth at the time of award of the full term granted, over (2) amount by which the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the unpaid fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had earned for the balance of the term of this Lease not so terminated, or had after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; (iv) any other amount necessary to compensate Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration all of the full term hereby granted; provideddetriment proximately caused by Tenant's failure to observe or perform any of its covenants and agreements under this Lease or which in the ordinary course of events would be likely to result therefrom, howeverincluding, that if Landlord (Landlordwithout limitation, however, not being obligated to do so) shall re-let all or any part the payment of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, reasonable expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereofof the Premises and in the reletting thereof (including, as well as the expenses of re-lettingwithout limitation, including altering and preparing the premises Premises for new tenants, tenants and brokers' commission); and (v) at Landlord's election, attorneys' fees and all such other similar amounts in addition to or dissimilar expenses properly chargeable against in lieu of the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting foregoing as may be for a period equal to, less than or longer than permitted from time to time under applicable California laws. (b) The "worth at the remaining term time of this Lease; provided, further, that award" is computed (i) in paragraphs (a)(i) and (ii) above, by allowing interest at the rate of ten percent (10%) per annum (but in no event shall Tenant be entitled to receive any in excess or such net rents over of the sums payable maximum rate permitted by Tenant to Landlord hereunder, law) and (ii) in no event paragraph (a)(iii) above, by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). (c) For purposes of computing unpaid rental which would have accrued and become payable under this Lease, unpaid rental shall Tenant be entitled in any suit consist of the sum of: (i) the total fixed rent for the collection balance of damages pursuant the term, plus (ii) a computation of the Tenant's Share of additional rent due under the Lease including, without limitation, Tenant's share of operating expenses (including real estate taxes) for the balance of the term. For purposes of computing increases such additional rent for the calendar year of the default and each future calendar year in the term shall be assumed to this subparagraph (b) to a credit in respect of any net rents from a re-letting except be equal to the extent that such net rents are actually received by Landlord additional rent for the calendar year prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let year in combination with other space, then proper apportionment on which default occurs compounded at a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount rate equal to the amount mean average rate of such additional rent payable by Tenant inflation for the applicable period ending immediately preceding such termination five calendar years as determined by the United States Department of this Lease or such reLabor, Bureau of Labor Statistics Consumer Price Index (All Urban Consumers, all items, 1982-entry. Suit or suits 84 equals 100) for the recovery metropolitan area or region of which Los Angeles, California is a part. If such damagesindex is discontinued or revised, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein the average rate of inflation shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery determined by Landlord against Tenant of any sums or damages to which, in addition reference to the damages particularly provided above, Landlord may lawfully be entitled index designated as the successor or substitute index by reason the government of any default hereunder on the part of TenantUnited States.

Appears in 1 contract

Sources: Office Lease (Sycamore Park Convalescent Hospital)

Damages. In the event If an Event of any termination of Default shall occur and this Lease is terminated under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Section 6.03, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then net present value (discounted to present value at the Base Rate in effect on the date damages are calculated) of the excess, if any, of (1) the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant Recurring Additional Charges, which, had this Lease not so terminated, would have been payable hereunder by Tenant for the period commencing with such earlier termination of this Lease or on the day following the date of any such re-entry, as termination to and including the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date over (2) the aggregate fair rental value of the premises Premises for the same periodperiod (for the purposes of this clause (a) the amount of Recurring Additional Charges shall, for each calendar year ending after such termination, be deemed to be an amount equal to the amount of Recurring Additional Charges payable by Tenant for the calendar year immediately preceding the calendar year in which such termination shall occur), or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof (if any) which Recurring Additional Charges that would have been payable by Tenant through and including the Expiration Date had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedin this Lease; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe period commencing on the day following the date of such termination to and including the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such rereletting the actual out-letting the expenses, including attorneys fees, of-pocket expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the actual out-of-pocket expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderunder this Lease, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) to Section 6.05(b), a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to on account of any period that is the commencement subject of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, or for a term that extends beyond the then proper stated Expiration Date, then equitable apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting, and (iv) Landlord shall have no obligation to so relet the purposes of subparagraph (a) of this Article 18Premises and Tenant hereby waives any right Tenant may have, at law or in equity, to require Landlord to so relet the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryPremises. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantbut for such termination.

Appears in 1 contract

Sources: Lease (BlackRock Inc.)

Damages. In Tenant covenants and agrees that if the event of any termination term of this Lease lease shall be terminated under the provisions of Article 16 hereof 32, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 33, or in the event of the termination of the term of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of: (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such termination or re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date had the expiration term of this lease not been so terminated or had Landlord not so re-entered the full term grantedDemised Premises, over (2ii) the aggregate rental value of the premises Demised Premises for the same period; both discounted to the date of such termination or re-entry, as the case may be, at the rate of 10% per annum compounded quarterly; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had the term of this Lease lease not so been terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set Expiration Date; Landlord may re-let the Demised Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms, which may at Landlord's option be less than or exceed the period which would otherwise have constituted the balance of the term of this lease; Landlord may grant concessions of free rent and Landlord, at its option, may make such alterations and decorations in the Demised Premises as Landlord considers advisable and necessary for the expiration purpose of re-letting the full term hereby granted; providedDemised Premises, howeverand the granting of such concessions and/or -44- 45 making of such alterations and decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid PROVIDED HOWEVER, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting letting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating the term of this Lease and/or of lease and in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissionCommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) in lease. In no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event or shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Article to a credit in respect of any net rents from a re-letting re- letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For In the purposes event of subparagraph (a) of a default by Tenant in its obligations under this Article 18lease, beyond applicable grace periods, if any, in addition to Landlord's other rights and remedies, there shall be immediately payable by Tenant to Landlord, as additional rent, the amount of additional all of the following which are incurred, granted or assumed by Landlord in connection with the lease: all rent which would have been payable concessions, free rent, rent credits, contributions or payments by Landlord with respect to work or improvements performed in the Demised Premises, and/or obligations expenses and liabilities of Tenant under Article 24 hereof shall assumed or paid for by Landlord in consideration of Tenant's entering into this lease. If the Demised Premises or any part thereof be deemed relet by Landlord for the unexpired portion of the Term, or any part thereof, before presentation of proof of such damages to be an amount equal to any court, commission or tribunal, the amount of rent reserved upon such additional rent payable by Tenant reletting shall, prima facie, be the fair and reasonable rental value for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damagesDemised Premises, or any installments part thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when so relet during the term of this Lease would have expired if it had the reletting. Landlord shall not been terminated under be liable in any way whatsoever for its failure or refusal to relet the provisions of Article 16 hereofDemised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under any provision of lawsuch reletting, and no such refusal or had the Landlord not re-entered the premises. Nothing herein contained failure to relet or failure to collect rent shall be construed as limiting release or precluding the recovery by Landlord against Tenant of any sums affect Tenant's liability for damages or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantotherwise under this lease.

Appears in 1 contract

Sources: Lease Agreement (Long Distance Direct Holdings Inc)

Damages. In the event of any termination of 18.01. If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (lease, or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of increases in Real Estate Taxes and Expenses shall be presumed to increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed annual rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting letting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commissioncommissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) in . In no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderhereunder for the period of such re-letting, (ii) in no event or shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or pursuant to such re-entryletting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. 18.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01.

Appears in 1 contract

Sources: Lease Agreement (Labranche & Co Inc)

Damages. Section 14.01 In the event of any termination a Default Termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Lease, Tenant will pay to Landlord as damages, at the election of the Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, Default Termination represents the then value of the excess, if any, of the Present Value, as herein defined, of (1) the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof 26 (if any) which would have been paid payable hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the day following the date of any such re-entry, as the case may be, Default Termination and ending with the date hereinbefore set for the expiration of the full term grantedscheduled Expiration Date, over (2) the aggregate fair rental value of the premises Premises for the same periodperiod as determined by an independent real estate appraiser named by Landlord and employed at Tenant’s expense, in which case such liquidated damages shall be accelerated to be due and payable to Landlord in one lump sum on demand at any time commencing with the day following the date of such Default Termination and shall bear interest at the Default Rate, as herein defined, until paid, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof 26 (if any) which would have been due and payable by Tenant during the remainder of the term had this Lease not so terminatedterminated by such Default Termination, or had Landlord not so re-entered in which case such liquidated damages shall be computed and payable in monthly installments, in advance, on the premises, payable upon the due dates therefor specified herein first day of each calendar month following such termination or such re-entry Default Termination of this Lease and continuing until the date hereinbefore set scheduled Expiration Date but for the expiration of the full term hereby grantedsuch Default Termination; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting until the scheduled Expiration Date, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commission, attorneys' fees ’ commissions and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, further that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph clause (b) ), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such each suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper appropriate apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For the purposes of subparagraph (a) of Landlord shall have no obligation whatsoever to mitigate its damages upon Tenant’s default under this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof Lease and Landlord shall not be deemed to be an amount equal to the amount of such additional rent payable by Tenant liable in any way whatsoever for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, failure to relet all or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until portion of the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of TenantPremises.

Appears in 1 contract

Sources: Lease (Hudson Holding Corp)

Damages. In the event of any termination of 27.01 If this Lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter reenter the premises Demised Premises under the provisions of Article 17 hereof 26 or in the event of the termination of this Lease (Lease, or of re-entry reentry by or under any summary dispossess proceedings, ejectment or other proceeding or by any suitable action or any provision proceeding at law, or by agreement, or by force or otherwise, by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) on demand, a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if any, excess of (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so reentered the expiration of the full term grantedDemised Premises, over (2ii) the aggregate rental value (calculated as of the premises date of such termination or reentry) of the Demised Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesDemised Premises, payable quarterly, in advance, but otherwise upon the due dates terms therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all relet the Demised Premises or any part of the premises for all portion or any part of portions thereof during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this the Lease and/or of re-entering or in reentering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises or any portion or portions thereof for new tenants, brokers' commissioncommissions, attorneys' fees advertising expenses, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting, and Landlord shall have the right to grant reasonable rent concessions to attract one or more new tenants and to permit the term of any new lease covering part or all of the Demised Premises to be for a shorter or longer period than provided for herein. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Demised Premises, or part thereof, so relet during the term of the reletting. Landlord, however, shall in no event and in no way be responsible or liable for any failure to relet the Demised Premises or any part thereof or for failure to collect any rent due upon any such reletting. 27.02 In the event Landlord elects to collect damages from Tenant under Article 24 hereof Section 27.01(b) at any time subsequent to such election and upon ten days prior written notice to Tenant, Landlord may elect to collect a lump sum under Section 27.01(a), crediting Tenant with amounts theretofore received by Landlord as damages. Landlord shall be deemed have no obligation to be an amount equal relet part or all of the Demised Premises subsequent to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this the Lease or such re-entry. and upon Tenant's default. 27.03 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof25, or under any provision of law, or had the Landlord not re-entered reentered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder or otherwise on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of the Landlord to provide for and obtain as liquidated damages by reason of the termination of this Lease or reentry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time, and governing the proceedings in which such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 27.01. 27.04 The foregoing Sections of this Article shall apply even if the default by Tenant has occurred prior to the Commencement Date and/or prior to Tenant taking possession of the Demised Premises. The parties acknowledge that this instrument is a lease and not a contract to make a lease.

Appears in 1 contract

Sources: Lease (Total Tel Usa Communications Inc)

Damages. In the event of any termination of 27.01 If this Lease lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 26, or in the event of the termination of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, ▇▇▇▇▇▇ (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedDemised Premises, over over (2) the aggregate fair rental value of the premises Demised Premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant ▇▇▇▇▇▇ had this Lease lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of lease or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis (for equivalent space) shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entry. the reletting. 27.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease lease would have expired if it had not been so terminated under the provisions of Article 16 hereof25, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this lease or re-entry on the Demised Premises for the default of Tenant under this lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 27.01.

Appears in 1 contract

Sources: Lease (Credit Suisse First Boston Usa Inc)

Damages. In the event of any termination of 30.01 If this Lease is terminated under the provisions of Article 16 hereof 21, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 26 or in the event of the termination of this Lease (Lease, or of re-entry by or under any summary dispossess proceedings, ejectment or other proceeding or by any suitable action or any provision proceeding at law, or by agreement, or by force or otherwise, by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either:, (a) A. on demand, a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, excess of (1) the aggregate of the fixed rent Base Rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term grantedTerm, had this Lease not so terminated or had Landlord not so re-entered the Demised Premises, over (2) the aggregate market rental value (calculated as of the premises date of such termination or re-entry) of the Demised Premises for the same period, or, (b) B. sums equal to the aggregate of the fixed rent Base Rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable quarterly but otherwise upon the due dates terms therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Term, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all relet the Demised Premises or any part of the premises for all portion or any part of portions thereof during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises or any portion or portions thereof for new tenants, brokers' commissioncommissions, advertising expenses, attorneys' fees fees, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term Term of this Lease; provided, further, that (i) Lease but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in to any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the Term, or any part thereof, before presentation of this Article 18proof of such damages to any court, commission, or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding Demised Premises, or part thereof, so relet during the term of the reletting. Landlord however, shall in on event and in no way be responsible or liable for any failure to relet the Demised Premises or any part thereof or for failure to collect any rent due upon any such termination of this Lease or such re-entry. reletting. 30.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof21, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder or otherwise on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of the Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 30.01. 30.03 Anything in this Lease to the contrary notwithstanding, if Tenant shall at any time be in default hereunder, whether or not Landlord shall institute an action or summary proceeding against Tenant based upon such default and whether or not such default results from non-payment of Base Rent or additional rent, or if Tenant requests Landlord to review or execute documents (including, without limitation, any sublease or occupancy documents) in connection with this Lease, or otherwise if it is reasonably prudent for Landlord to contact counsel, then Tenant shall reimburse Landlord, as additional rent, for the expense of attorneys' fees and disbursements thereby incurred by Landlord, so far as the same are reasonable.

Appears in 1 contract

Sources: Lease Agreement (International Telecommunication Data Systems Inc)

Damages. In the event of any termination of 18.1 If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the present value (which present value shall be calculated at a discount rate equal to the then value legal rate of interest on judgments in New York State) of the excess, if any, of of (1i) the aggregate of the fixed annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of increases in Taxes and Expenses shall be presumed to increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed three (3) years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2ii) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed annual rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting letting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commission, attorneys' fees commissions and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re- letting. If the demised premises or any part thereof be re-letting. For let by Landlord for the purposes unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or reserved upon such re-entry. letting shall, prima facie, be the fair and ----- ----- reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. 18.2 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.1.

Appears in 1 contract

Sources: Lease Agreement (Interliant Inc)

Damages. In the event of any termination of 24.01 If this Lease is terminated under the provisions of Article 16 hereof 22 hereof, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 23 hereof, or in the event of the termination of this Lease (Lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if anyany (assuming a discount at a rate per annum equal to the interest rate then applicable to seven (7) year Federal Treasury Bonds), of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Charges under Article 3 hereof to be the same as were payable for the last twelve (12) calendar months, or if less than twelve (12) calendar months have then elapsed since the Commencement Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration of date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term grantedPremises, over (2ii) the aggregate fair market rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration of date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term hereby granted; Premises, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting (but in each case, including only with respect to such time period between the date of the termination due to default and what would have been the natural expiration of the Term of the Lease had there been no such default), including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees reasonable legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such termination of reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant’s liability for damages or otherwise under this Lease or such re-entry. Lease. 24.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 22 hereof, or under any provision of law, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this Lease or reentry on the Premises for the default of Tenant under this Lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01 hereof. 24.03 In addition, if this Lease is terminated under the provisions of Article 22 hereof, or if Landlord shall reenter the Premises under the provisions of Article 23 hereof, Tenant agrees that: (a) the Premises then shall be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration of the term hereof; (b) Tenant shall have performed prior to any such termination any covenant of Tenant contained in this Lease for the making of any Alterations or for restoring or rebuilding the Premises or the Building, or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 24.03, Landlord shall be entitled immediately, without notice or other action by Landlord, to recover, and Tenant shall pay, as and for liquidated damages therefor, the cost of performing such covenant (as estimated by an independent contractor selected by Landlord). 24.04 In addition to any other remedies Landlord may have under this Lease, and without reducing or adversely affecting any of Landlord’s rights and remedies under Article 22, if any Fixed Rent, Additional Charges or damages payable hereunder by Tenant to Landlord are not paid within seven (7) days after the due date thereof, the same shall bear interest at the rate of one and one-half (1 ½%) percent per month or the maximum rate permitted by law, whichever is less, from the due date thereof until paid, and the amount of such interest shall be an Additional Charge hereunder. For the purposes of this Section 24.04, a rent ▇▇▇▇ sent by first class mail, to the address to which notices are to be given under this Lease, shall be deemed a proper demand for the payment of the amounts set forth therein (but nothing contained herein shall be deemed to require Landlord to send any rent ▇▇▇▇ or otherwise make any demand for the payment of rent except in those cases, if any, explicitly provided for in this Lease).

Appears in 1 contract

Sources: Lease Agreement (Advent Software Inc /De/)

Damages. In the event of any termination of 26.01. If this Lease is terminated under the provisions of Article 16 hereof 24, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 25, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or of any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a A sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedDemised Premises, over (2ii) the aggregate rental value of the premises Demised Premises for the same period, or (b) sums Sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof to be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entrythe reletting. 26.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof24, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to seek and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 26.01. 26.03. In addition to the foregoing and without regard to whether this Lease is terminated, Tenant shall pay to Landlord upon demand, all costs and expenses incurred by Landlord, including reasonable attorney's fees, with respect to any lawsuit instituted or defended or any action taken by Landlord to enforce all or any of the provisions of this Lease.

Appears in 1 contract

Sources: Lease (Hanover Capital Mortgage Holdings Inc)

Damages. In the event of any termination of If this Lease is terminated under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the period commencing with year immediately preceding such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date) had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedPremises, over over (2) the aggregate rental value of the premises Premises for the same period, both discounted to present worth at 7% per annum, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set Expiration Date less such sums, if any, as shall have been received by Landlord for the expiration of the full term hereby granteduse and occupation; providedPROVIDED, howeverHOWEVER, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting Landlord, after deducting therefrom the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of TenantLandlord.

Appears in 1 contract

Sources: Lease (Duramed Pharmaceuticals Inc)

Damages. In Tenant covenants and agrees that if the event of any termination term of this Lease lease shall be terminated under the provisions of Article 16 hereof 32, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 33, or in the event of the termination of the term of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of: (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-termination or re- entry, as the case may be, and ending with the date hereinbefore set for Expiration Date had the expiration term of this lease not been so terminated or had Landlord not so re-entered the full term grantedDemised Premises, over (2ii) the aggregate rental value of the premises Demised Premises for the same period; both discounted to the date of such termination or re-entry, as the case may be, at the rate of 10% per annum compounded quarterly; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had the term of this Lease lease not so been terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set Expiration Date; Landlord may re-let the Demised Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms, which may at Landlord's option 54 be less than or exceed the period which would otherwise have constituted the balance of the term of this lease; Landlord may grant concessions of free rent and Landlord, at its option, may make such alterations and decorations in the Demised Premises as Landlord considers advisable and necessary for the expiration purpose of re- letting the full term hereby granted; providedDemised Premises, and the granting of such concessions and/or making of such alterations and decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid provided however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting letting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating the term of this Lease and/or of lease and in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) in lease. In no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event or shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Article to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For In the purposes event of subparagraph (a) of a default by Tenant in its obligations under this Article 18lease, beyond applicable grace periods, if any, in addition to Landlord's other rights and remedies, there shall be immediately payable by Tenant to Landlord, as additional rent, the amount of additional all of the following which are incurred, granted or assumed by Landlord in connection with the lease: all rent which would have been payable concessions, free rent, rent credits, contributions or payments by Landlord with respect to work or improvements performed in the Demised Premises, and/or obligations expenses and liabilities of Tenant under Article 24 hereof shall assumed or paid for by Landlord in consideration of Tenant's entering into this lease. If the Demised Premises or any part thereof be deemed relet by Landlord for the unexpired portion of the Term, or any part thereof, before presentation of proof of such damages to be an amount equal to any court, commission or tribunal, the amount of rent reserved upon such additional rent payable by Tenant reletting shall, prima facie, be the fair and reasonable rental value for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damagesDemised Premises, or any installments part thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when so relet during the term of this Lease would have expired if it had the reletting. Landlord shall not been terminated under be liable in any way whatsoever for its failure or refusal to 55 relet the provisions of Article 16 hereofDemised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under any provision of lawsuch reletting, and no such refusal or had the Landlord not re-entered the premises. Nothing herein contained failure to relet or failure to collect rent shall be construed as limiting release or precluding the recovery by Landlord against Tenant of any sums affect Tenant's liability for damages or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantotherwise under this lease.

Appears in 1 contract

Sources: Lease Agreement (Quintel Entertainment Inc)

Damages. In If the event Registration Statement covering the resale of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event all of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease Securities is not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess declared effective by the Commission on or such net rents over before 120 days after the sums payable by Tenant to Landlord hereunder, Initial Closing Date (the "Scheduled Effective Date"); or (ii) in no event shall Tenant if after the Registration Statement has been declared effective by the Commission, sales of all such Securities cannot be entitled in any suit made pursuant to the Registration Statement (whether because of a failure to keep the Registration Statement effective, to disclose such information as is necessary for sales to be made pursuant to the Registration Statement, to register sufficient shares of Common Stock or otherwise), then, as partial relief for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled any Holder by reason of any default hereunder such delay in or reduction of its ability to sell the Securities (which remedy shall not be exclusive of any other remedies available at law or in equity), the Company shall pay to each Holder an amount in cash equal to the product of (i) $1,000 multiplied by (ii) the sum of (A) the number of shares of Preferred Stock held by such Holder plus (B) the number of Conversion Shares held by such Holder divided by the Conversion Rate at which such shares were issued, multiplied by (iii) the quotient of .02 divided by 30, multiplied by (iv) the sum of (x) if 14 applicable, the number of days (with respect to which Registration Delay Payments have not previously been made) after the Scheduled Effective Date that the relevant Registration Statement has not been declared effective by the Commission, and (y) if applicable, the number of days (with respect to which Registration Delay Payments have not previously been made and excluding days during an Allowable Blackout Period) that sales cannot be made pursuant to the Registration Statement after the Registration Statement has been declared effective. The payments to which a Holder shall be entitled pursuant to this Article 3 are referred to herein as "Registration Delay Payments." Registration Delay Payments shall be paid within five business days of the earlier of (A) the first day of the month following the occurrence of the event resulting in the requirement to make Registration Delay Payments, or (B) the date on which the part event resulting in the requirement to make Registration Delay Payments is cured. In the event the Company fails to make Registration Delay Payments in a timely manner, such Registration Delay Payments shall bear interest at the rate of Tenant2.0% per month (prorated for partial months) until paid in full.

Appears in 1 contract

Sources: Registration Rights Agreement (Starbase Corp)

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or Lessor's damages, in the event of default by Lessee, shall include (in addition to all other damages available to Lessor under applicable law): (i) the termination due and unpaid balance of this Lease Rental Payments and all other amounts payable hereunder plus late charges and interest due under Paragraph 5(c) (or but not more than the maximum rate permitted by law) for the 18 19 period after the date such payments were due, (ii) the aggregate of re-entry by or under any summary dispossess or other proceeding or action or any provision all remaining Rental Payments through the end of law)the Noncancellable Term of each Schedule, Tenant will pay discounted to Landlord as damages, present value at the election Discount Rate, (iii) the Residual Value, discounted to present value at the Discount Rate, (iv) any indemnification payments due hereunder plus interest at a rate equal to the lesser of Landlord1.5% per month or the maximum rate permitted by law for the period after the date such payments were due, either(v) costs of repossession, recovery, storage and repairs and of lease or sale to a third party, plus (vi) all other expenses including court costs and reasonable attorneys' fees and expenses. Lessor's obligation to mitigate said damages and any reduction of the amounts due to Lessor shall be limited as follows: (a) a sum at which at the time of such termination of this Lease Lessor shall make best efforts to mitigate its damages by either selling or at the time of any such re-entry by Landlord, as leasing the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, Equipment to a third party for the period commencing with such earlier termination of this Lease or highest net cash proceeds available on the date of any such sale or re-entry, as lease. In the case may be, and ending with the date hereinbefore set for the expiration of a sale of the full term grantedEquipment to a third party, over any amounts received from the sale (2or any loan proceeds received by Lessor from financing a re-lease with a third party lender) shall be applied to Lessor's damages as specified in this Paragraph 26. In the aggregate rental value case of a re-lease of the premises Equipment to a third party, any rentals received in consideration for such third party's use of said Equipment during any of the remaining Noncancellable Term of the original Schedule shall be applied only to that portion of Lessor's damages resulting from loss of rentals that Lessor would have received from Lessee during the same period, or (b) sums equal period had Lessee not become in default. Amounts received from such third party shall be applied in mitigation of Lessor's damages only to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been extent such amounts are payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than third party's periodic rental obligations as specified in the remaining term of this Leasepreceding sentence; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent amount received from such re-letting and third party, including without limitation as a security deposit or as an advance on periodic rental obligations, be applied in mitigation of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or Lessor's damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenanthereunder.

Appears in 1 contract

Sources: Master Lease Agreement (Quality Care Solutions Inc)

Damages. 21.3.1 In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), or in the event that Landlord shall reenter the Premises under the provisions of this Lease, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, a sum which at such time of such termination of this Lease or at such time of any such reentry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent installments of Base Rent and the additional rent under Article 24 hereof Additional Rent which would have been paid payable hereunder by Tenant ▇▇▇▇▇▇, had this Lease not so terminatedterminated or had Landlord not reentered the Premises, for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set forth initially for the expiration of the full term grantedTerm of this Lease pursuant to Article 1, over less (2ii) the aggregate rental amount of rent loss that Tenant proves could reasonably have been avoided by Landlord through good faith leasing activities for such period taking into account the amount Landlord would be required to expend or suffer with respect to abated rent, tenant improvements, other concessions and leasing commissions (the amounts of each of clauses (i) and (ii) being first discounted to present value at the then quoted yield on U.S. Treasury securities having a maturity of five (5) years as reported by The Wall Street Journal (or, if not available, in Federal Reserve Statistical Release H.15(519) or any comparable successor publication), plus one percent (1%) (“Discount Rate”) and less the premises for the same period, Reletting Expenses as defined below; or (b) sums equal to the aggregate of the fixed rent installments of Base Rent and the additional rent under Article 24 hereof (if any) Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore Expiration Date originally set forth in this Lease for the expiration of the full term hereby grantedTerm, discounted to present value at the Discount Rate; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering reentering the premises Premises and of securing possession thereof, including reasonable and actual attorneys’ fees and costs of removal and storage of Tenant’s property, as well as the expenses of re-lettingreletting, including altering repairing, restoring and preparing improving the premises Premises for new tenants, brokers' commission’ commissions, advertising costs, reasonable attorneys' fees ’ fees, and all other similar or dissimilar expenses properly (with such costs of reletting for a term extending beyond the Expiration Date of this Lease being prorated, such that Tenant is only responsible for the prorated costs of reletting for that part of the reletting term ending concurrently with the then-current Term of this Lease) (all of the foregoing, “Reletting Expenses”) chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Lease; provided, provided further, that (i1) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii2) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph Subdivision (b) to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii3) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. reletting, or if relet for a period longer than the remaining Term of this Lease, the expenses of reletting shall be apportioned based on the respective periods. 21.3.2 For the purposes of subparagraph Section (aa)(i) of this Article 18Section 21.3.1, the amount of additional rent Additional Rent which would have been payable by Tenant under Article 24 hereof 4 for each year ending after such termination of this Lease or such reentry, shall be deemed to be an amount equal to the amount of such additional rent Additional Rent payable by Tenant for the applicable period calendar year ending immediately preceding such termination of this Lease or such re-entryreentry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its Landlord’s election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of this Article 16 hereof21, or under any provision of law, or had the Landlord not re-entered reentered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of TenantPremises.

Appears in 1 contract

Sources: Lease Agreement (Playboy, Inc.)

Damages. In the event of any termination of 26.01. If this Lease is terminated under the provisions of Article 16 hereof 24, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 25, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or of any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a A sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedDemised Premises, over (2ii) the aggregate rental value of the premises Demised Premises for the same period, or (b) sums Sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord. Landlord prior shall use commercially reasonable efforts to relet the commencement Demised Premises so as to mitigate damages. Landlord shall not be obligated to rent the Demised Premises any differently from other vacant space in its inventory or in the inventory of such suit, affiliated entities. Damages shall also include the unamortized portion of the cost of Landlord's Work and (iii) if any brokerage fees or commissions paid by Landlord. If the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof to be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entrythe reletting. 26.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof24, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to seek and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 26.01. 26.03. Landlord and Tenant agree that with respect to any lawsuit instituted or defended or any action to enforce all or any of the provisions of this Lease, the successful party shall be entitled to all costs and expenses incurred, including reasonably attorney's fees.

Appears in 1 contract

Sources: Lease Agreement (Intelligroup Inc)

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event (a) Tenant covenants and agrees that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by Landlord, under, any of the provisions of this Article or under any summary dispossess or other proceeding or action or any provision pursuant to law, by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord Landlord, as damagesdamages with respect to this Lease, at the election of Landlord, either: (a1) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of: (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof Rent which would have been paid hereunder payable by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date of this Lease, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, over Demised Premises over (2ii) the aggregate fair market rental value of the premises Demised Premises for the same period, ; or (b2) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor days specified herein in this Lease following such termination or such re-entry and until the date hereinbefore set for the expiration Expiration Date of the full term hereby granted; this Lease, provided, however, that if Landlord (Landlord, however, not being obligated to do so) the Demised Premises shall be leased or re-let all or any part of the premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually rents, if any, received by Landlord from such leasing or re-letting, such net rents Rent to be determined by first deducting from the gross rents as and when received by Landlord from such leasing or re-letting the expenses, including attorneys fees, actual expenses incurred or paid by Landlord in terminating this Lease and/or or of re-entering the premises Demised Premises and of securing possession thereof, as well as the expenses actual expense of leasing and re-letting, including altering and preparing any portion of the premises Demised Premises for new tenants, brokers' commission, attorneys' fees commissions (attributable only to the remaining portion of Tenant's Term) and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Leasetherefrom; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums Rent, payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph . (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such any and all damages, or any installments thereof, provided for hereunder may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereofthis Article, or under provisions of any provision of law, or had the Landlord not re-entered the premises. Demised Premises. (c) Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, which Landlord may lawfully be entitled by reason of in any default hereunder on the part of Tenantcase other than those particularly provided for above.

Appears in 1 contract

Sources: Lease Agreement (Global Preferred Holdings Inc)

Damages. In the event of any termination of If this Lease is terminated under the provisions of Article 16 hereof Section 6.03, or in the event that if Landlord shall re-enter enters the premises Premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Section 6.04, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant Rent which, had this Lease not so terminated, would have been payable hereunder by ▇▇▇▇▇▇ for the period commencing with such earlier termination of this Lease or on the day following the date of any such termination or re-entry, as entry to and including the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date over (2) the aggregate fair rental value of the premises Premises for the same periodperiod (for the purposes of this clause (a) the amount of Additional Charges which would have been payable by Tenant under Sections 2.04 and 2.05 shall, for each calendar year ending after such termination or re-entry, be deemed to be an amount equal to the amount of such Additional Charges payable by Tenant for the calendar year immediately preceding the calendar year in which such termination or re-entry shall occur) each discounted to present value at the Interest Rate, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which Rent that would have been payable by Tenant through and including the Expiration Date had this Lease not so terminated, terminated or had Landlord not so re-entered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedin this Lease; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe period commencing on the day following the date of such termination or re-entry to and including the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; and further provided, further, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderunder this Lease, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) Section 6.05(b), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting, (iv) if the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof Premises or any part thereof shall be deemed to relet for a term greater than the unexpired term hereof, then the expenses of reletting, including the costs of altering the Premises for the new tenant, broker’s commissions and all other expenses properly chargeable against the Premises, shall be an amount equal to equitably apportioned, based on the amount term of such additional rent payable by reletting between the period prior to and after the Expiration Date and (v) Landlord shall have no obligation to so relet the Premises and Tenant for hereby waives any right Tenant may have, at law or in equity, to require Landlord to so relet the applicable period ending immediately preceding such termination of this Lease or such re-entryPremises. Suit or suits for the recovery of such damagesany damages payable hereunder by ▇▇▇▇▇▇, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been terminated under the provisions of Article 16 hereof, but for such termination or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantentry.

Appears in 1 contract

Sources: Lease (LEM America, Inc)

Damages. In the event of any termination of 26.01. If this Lease is terminated under the provisions of Article 16 hereof 24, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 25, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or of any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either:; (a) a A sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedDemised Premises, over (2ii) the aggregate rental value of the premises Demised Premises for the same period, or (b) sums Sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term Term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. Damages shall also include the commencement unamortized portion of such suit, the cost of Landlord’s Work and (iii) if any brokerage fees or commissions paid by Landlord. If the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof to be relet by Landlord for the unexpired portion of subparagraph (a) the Term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of the reletting. If this Lease or such re-entryTenant’s right to possession of the Demised Premises is terminated, then Landlord shall use commercially reasonable efforts to relet the Demised Premises and otherwise mitigate its damages. 26.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term Term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof24, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to seek and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 26.01. 26.03. In the event Landlord or Tenant is required or elects to take legal action against the other party to enforce the provisions of this Lease, then the prevailing party in such action shall be entitled to collect from the other party its costs and expenses incurred in connection with the legal action (including, without limitation, reasonable attorneys’ fees and court costs).

Appears in 1 contract

Sources: Lease Agreement (Ikanos Communications)

Damages. In 60.1 Notwithstanding anything to the event of any termination of this Lease under the provisions of contrary contained in Article 16 hereof or in the event that 18 hereof, if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 18, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or of any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (ai) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) equals the aggregate of the fixed rent and the additional rent under Article 24 hereof Adjusted Minimum Rent payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming that additional rent on account of increases in Taxes and Building Operating Costs shall increase at the average of the rates of increase thereof previously experienced by Landlord during the period not so terminated, to exceed 3 years prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term grantedTermination Date, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, terminated or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord Demised Premises plus (Landlord, however, not being obligated to do soii) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of or re-letting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' attorney's fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with thereof less any sums actually received by Landlord on account of such re-letting, it being understood that any . Any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event or shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to subsection of a credit in respect of any net rents from a re-letting except to reletting. If the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let in combination with the other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. . 60.2 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Any indemnity of Tenant shall survive the expiration or earlier termination of this Lease. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law governing the proceedings in which such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 60.1.

Appears in 1 contract

Sources: Office Lease (Ibah Inc)

Damages. In the event of any termination of If this Lease under the provisions of Article 16 hereof shall be terminated as provided in Section 24.03(a) or Tenant shall be dispossessed by summary proceedings or otherwise as provided in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, eitherSection 24.03(b) hereof: (a) a sum at which at the time of such termination of Tenant shall pay to Landlord all Rental payable by Tenant under this Lease (and not yet paid) to the date upon which this Lease and the Term shall have expired and come to an end or at to the time date of any such re-entry upon the Premises by Landlord, as the case may be; (b) Landlord may complete all construction required to be performed by Tenant hereunder and may repair and alter the Premises in such manner as Landlord may deem necessary or advisable (and may apply to the foregoing all funds, represents if any, then held by Depository pursuant to Article 7, 8, or 9 or by Landlord under the then value Design/Construction Period Letter of Credit) without relieving Tenant of any liability under this Lease or otherwise affecting any such liability, and/or let or relet the Premises or any parts thereof for the whole or any part of the excessremainder of the Term or for a longer period, in Landlord’s name or as agent of Tenant, and out of any rent and other sums collected or received as a result of such reletting Landlord shall: (i) first, pay to itself the reasonable cost and expense of terminating this Lease, re-entering, retaking, repossessing, completing construction and repairing or altering the Premises, or any part thereof, and the cost and expense of removing all persons and property therefrom, including in such costs brokerage commissions, legal expenses and reasonable attorneys’ fees and disbursements, (ii) second, pay to itself the reasonable cost and expense sustained in securing any new tenants and other occupants, including in such costs brokerage commissions, legal expenses and reasonable attorneys’ fees and disbursements and other expenses of preparing the Premises for reletting, and, if Landlord shall maintain and operate the Premises, the reasonable cost and expense of operating and maintaining the Premises, and (iii) third, pay to itself any balance remaining on account of the liability of Tenant to Landlord. Landlord in no way shall be responsible or liable for any failure to relet the Premises or any part thereof, or for any failure to collect any rent due on any such reletting, and no such failure to relet or to collect rent shall operate to relieve Tenant of any liability under this Lease or to otherwise affect any such liability; (c) if Landlord shall not have declared all Rental due and payable pursuant to Section 24.02 hereof, Tenant shall be liable for and shall pay to Landlord, as damages, any deficiency (referred to as “Deficiency”) between the Rental reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term and the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of Section 24.04(b) for any part of such period (1) first deducting from the aggregate rents collected under any such reletting all of the fixed rent payments to Landlord described in clauses (i) and the additional rent under Article 24 hereof which would have been (ii) of Section 24.04(b) hereof); any such Deficiency shall be paid hereunder in installments by Tenant had on the days specified in this Lease for the payment of installments of Rental, and Landlord shall be entitled to recover from Tenant each Deficiency installment as the same shall arise, and no suit to collect the amount of the Deficiency for any installment period shall prejudice Landlord’s right to collect the Deficiency for any subsequent installment period by a similar proceeding; and (d) if Landlord shall not so terminatedhave declared all Rental due and payable pursuant to Section 24.02 hereof, and whether or not Landlord shall have collected any Deficiency installments as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord, on demand, in lieu of any further Deficiencies, as and for liquidated and agreed final damages (it being agreed that it would be impracticable or extremely difficult to fix the actual damage), a sum equal to the amount by which the Rental reserved in this Lease for the period commencing with such earlier termination of this Lease or which otherwise would have constituted the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration unexpired portion of the full term granted, over (2) Term exceeds the aggregate then fair and reasonable rental value of the premises Premises for the same period, or both discounted to present worth at the rate of six percent (b6%) sums equal per annum less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the aggregate provisions of the fixed rent and the additional rent under Article 24 hereof (if anySection 24.04(c) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration same period; it being agreed that before presentation of proof of such liquidated damages to any court, commission or tribunal, if the full term hereby granted; providedPremises, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the premises for all Term, or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof reserved upon such reletting shall be deemed deemed, prima facie, to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination part or the whole of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when Premises so relet during the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.reletting

Appears in 1 contract

Sources: Lease Agreement (Goldman Sachs Group Inc/)

Damages. A. In the event of any termination of this Lease under the provisions of Article 16 hereof or 19 in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof 20 or in the event of the termination of this Lease (or of re-entry entry) by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) 1. a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1of(i) the aggregate of the fixed all rent and the additional rent under Article 24 hereof which would have been paid payable hereunder by Tenant had this Lease not so terminated, terminated for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term hereby granted, over (2ii) the aggregate rental value of all rent of the premises for the same period, period based upon the then local market rental value of the premises; or (b) 2. sums equal to the aggregate of the fixed all rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had has this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, reasonable expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession connection thereof, as well as the reasonable expenses of for re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees commissions and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than to or shorter or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph subsection (b2) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. . B. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof19, or under any provision of law, or had the Landlord not re-entered the premises. . C. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages (including interest on all such amounts at the rate of eighteen (18%) percent per annum) to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.

Appears in 1 contract

Sources: Lease Agreement (Medjet Inc)

Damages. (a) In the event of any termination of this Lease under ------- the provisions of Article 16 hereof 19 or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof 20 or in the event of the termination of this Lease (or of re-entry entry) by or under any summary dispossess dis- possess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed all rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor therefore specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration expira- tion of the full term hereby granted; provided, however, provided however that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, reasona- ble expenses incurred or paid by Landlord in terminating this Lease and/or or of re-entering the premises and of securing possession thereof, thereof as well as the reasonable expenses of re-letting, including altering and preparing pre- paring the premises for new tenants, brokers' commission, attorneys' fees commissions and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than to or shorter or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph subsection (b2) to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement commence- ment of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-re- letting. . (b) For the purposes of subparagraph (a) of this Article 1821, the amount of additional fixed rent which would have been payable by Tenant under Article 24 4 hereof for each lease year and/or tax year (as those terms are herein defined) ending after such termination of this Lease or such re-entry shall be deemed to be an amount equal to the amount of such additional fixed rent payable by Tenant for the applicable period lease year and/or tax year (as the case may be) ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof19, or under any provision of law, or had the Landlord not re-entered the premises. . (c) Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.

Appears in 1 contract

Sources: Lease (Medicore Inc)

Damages. In the event of any termination of If this Lease is terminated under the provisions of Article 16 hereof Section 6.03, or in the event that if Landlord shall re-enter enters the premises Premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Section 6.04, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant Rent which, had this Lease not so terminated, would have been payable hereunder by Tenant for the period commencing with such earlier termination of this Lease or on the day following the date of any such termination or re-entry, as entry to and including the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date over (2) the aggregate fair rental value of the premises Premises for the same periodperiod (for the purposes of this clause (a) the amount of Additional Rent which would have been payable by Tenant under Sections 2.04 and 2.05 shall, for each calendar year ending after such termination or re-entry, be deemed to be an amount equal to the amount of such Additional Rent payable by Tenant for the calendar year immediately preceding the calendar year in which such termination or re-entry shall occur), or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which Rent that would have been payable by Tenant through and including the Expiration Date had this Lease not so terminated, terminated or had Landlord not so re-re entered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedin this Lease; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe period commencing on the day following the date of such termination or re-entry to and including the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' legal fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderunder this Lease, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) Section 6.05(b), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting and (iv) Landlord shall have no obligation to so relet the purposes of subparagraph (a) of this Article 18Premises and Tenant hereby waives any right Tenant may have, at law or in equity, to require Landlord to so relet the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryPremises. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been terminated under the provisions of Article 16 hereof, but for such termination or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantentry.

Appears in 1 contract

Sources: Lease (890 5th Avenue Partners, Inc.)

Damages. In the event of any termination of 18.01. If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed basic annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of Taxes and Property Expenses shall be presumed to increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed basic annual rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, actual expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the demised premises and of in securing possession thereof, as well as the actual expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commissioncommissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) in . In no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderhereunder for the period of such re-letting, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or pursuant to such re-entryletting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. 18.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01.

Appears in 1 contract

Sources: Office Lease (Credit Suisse First Boston Usa Inc)

Damages. In the event of any termination of 29.01. If this Lease is terminated under the provisions of Article 16 hereof 27, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 28, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any action to obtain possession in a summary dispossess manner or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay as Additional Rent to Landlord as a condition precedent to the dismissal of any action to obtain possession of the Demised Premises or other proceeding or action for damages, at the election of Landlord, either: (a) a A sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value present value, calculated utilizing the prime interest rate declared by Chase Bank, N.A. in New York as of the excess, if anydate of default, of (1) the aggregate amount of the fixed rent and the additional rent under Article 24 hereof Rent which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Rent to be the same as were the average monthly Additional Rent payable for the year, or if less than 365 days have then elapsed since the Commencement Date, the partial year, immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set Expiration Date plus legal and expert fees and costs for the expiration bringing of any action to enforce this provision. In exercising this remedy, Landlord shall be entitled to accelerate all unpaid Rent and other amounts due hereunder until the full term granted, over (2) the aggregate rental value of the premises for the same period, Expiration Date; or (b) sums Sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof (if any) Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Demised Premises and of in securing possession thereof, as well as the expenses expense of re-lettingreletting, including including, without limitation, altering and preparing the premises Demised Premises for new tenants, brokers' commission’ commissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaseperiod ending on the Expiration Date; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph subdivision (b) to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord before presentation of subparagraph (a) proof of this Article 18such damages to any Court, commission or tribunal, the amount of additional rent which would reserved upon such reletting shall, prima facia, be the fair and reasonable rental value for the Demised Premises, or part thereof, to relet during the term of the reletting. Landlord shall have been payable no obligation to mitigate damages by Tenant reletting the Demised Premises and shall not be liable in any way whatsoever for its failure or refusal to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under Article 24 hereof such reletting, and no such failure or refusal to relet or failure to collect the rent shall release or affect Tenant’s liability for damages or otherwise under this Lease. Landlord shall be deemed under no obligation in reletting the Demised Premises to be an amount equal give priority to the amount of such additional rent payable by Tenant for leasing thereof over other vacant space in the applicable period ending immediately preceding such termination of this Lease or such re-entryBuilding. 29.02. Suit or suits for the recovery of any such damages, or any installments thereof, may be brought by Landlord at any time and from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof, 27 or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove and/or obtain as damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease an amount equal to the maximum amount permitted by any statute or rule of law in effect at the time when the governing proceedings have been initiated, whether or not such amount is greater than, equal to, or less than any of the sums referred to in Section 29.01. 29.03. In addition, if this Lease is terminated under the provisions of Article 27, or if Landlord shall re-enter the Demised Premises under the provisions of Article 28, Tenant covenants that: (a) the Demised Premises then shall be in the same condition as that in which Tenant has agreed to surrender the same to Landlord at the Expiration Date; (b) Tenant shall have performed prior to any such termination any obligation of Tenant contained in this Lease for the making of any alteration or for restoring or rebuilding the Demised Premises or the Building, or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 29.03, Landlord shall be entitled immediately without notice or other action by Landlord, to recover, and Tenant shall pay as and for liquidated damages therefor, the cost of performing such covenant (as estimated by an independent contractor selected by Landlord). 29.04. In addition to any other remedies Landlord may have under this Lease, and without reducing or adversely affecting any of Landlord’s rights and remedies under this Article 29, if any Rent or damages payable hereunder by Tenant to Landlord are not paid within five (5) days after notice therefor, the same shall bear interest at the Late Payment Rate pursuant to Section 3.05 from the due date thereof until paid, and the amount(s) of such interest shall be Additional Charges hereunder. 29.05. In addition to any remedies which Landlord may have under this Lease, if there shall be a default hereunder by Tenant which shall not have been remedied within the applicable grace period, Landlord shall not be obligated to furnish to Tenant or the Demised Premises any HVAC services, or any building services; and the discontinuance of any one or more of such services shall be without liability by Landlord to Tenant and shall not reduce, diminish or otherwise affect any of Tenant’s covenants and obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Eschelon Telecom Inc)

Damages. In the event of any termination of 29.01. If this Lease is terminated under the provisions of Article 16 hereof 27, or in the event that if Landlord shall re---enter the premises Demised Premises under the provisions of Article 17 hereof 28, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any action to obtain possession in a summary dispossess manner or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay an Additional Rent to Landlord as a condition precedent to the dismissal of any action to obtain possession of the Demised Premises or other proceeding or action for damages, at the election of Landlord, either: (a) a A sum at which at the time of such termination of this Lease or at the time of any such re---entry by Landlord, as the case may be, represents the then value present value, calculated utilizing the prime interest rate declared by Chase Bank, N.A. in New York as of the excess, if anydate of default, of (1) the aggregate amount of the fixed rent and the additional rent under Article 24 hereof Rent which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Rent to be the same as were the average monthly Additional Rent payable for the year, or if less than 365 days have then elapsed since the Commencement Date, the partial year, immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set Expiration Date plus legal and expert fees and costs for the expiration bringing of any action to enforce this provision. In exercising this remedy, Landlord shall be entitled to accelerate all unpaid Rent and other amounts due hereunder until the full term granted, over (2) the aggregate rental value of the premises for the same period, Expiration Date; or (b) sums Sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof (if any) Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re---entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re---entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Demised Premises and of in securing possession thereof, as well as the expenses expense of re-lettingreletting, including including, without limitation, altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaseperiod ending on the Expiration Date; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph subdivision (b) to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord before presentation of subparagraph (a) proof of this Article 18such damages to any Court, commission or tribunal, the amount of additional rent which would reserved upon such reletting shall, prima facia, be the fair and reasonable rental value for the Demised Premises, or part thereof, to relet during the term of the reletting. Landlord shall have been payable no obligation to mitigate damages by Tenant reletting the Demised Premises and shall not be liable in any way whatsoever for its failure or refusal to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under Article 24 hereof such reletting, and no such failure or refusal to relet or failure to collect the rent shall release or affect Tenant's liability for damages or otherwise under this Lease. Landlord shall be deemed under no obligation in reletting the Demised Premises to be an amount equal give priority to the amount of such additional rent payable by Tenant for leasing thereof over other vacant space in the applicable period ending immediately preceding such termination of this Lease or such re-entryBuilding. 29.02. Suit or suits for the recovery of any such damages, or any installments thereof, may be brought by Landlord at any time and from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof, 27 or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove and/or obtain as damages by reason of the termination of this Lease or re--entry on the Demised Premises for the default of Tenant under this Lease an amount equal to the maximum amount permitted by any statute or rule of law in effect at the time when the governing proceedings have been initiated, whether or not such amount is greater than, equal to, or less than any of the sums referred to in Section 29.01. 29.03. In addition, if this Lease is terminated under the provisions of Article 27, or if Landlord shall re--enter the Demised Premises under the provisions of Article 28, Tenant covenants that: (a) the Demised Premises then shall be in the same condition as that in which Tenant has agreed to surrender the same to Landlord at the Expiration Date; (b) Tenant shall have performed prior to any such termination any obligation of Tenant contained in this Lease for the making of any alteration or for restoring or rebuilding the Demised Premises or the Building, or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 29.03, Landlord shall be entitled immediately without notice or other action by Landlord, to recover, and Tenant shall pay as and for liquidated damages therefor, the cost of performing such covenant (as estimated by an independent contractor selected by Landlord). 29.04. In addition to any other remedies Landlord may have under this Lease, and without reducing or adversely affecting any of Landlord's rights and remedies under this Article 29, if any Rent or damages payable hereunder by Tenant to Landlord are not paid within five (5) days after notice therefor, the same shall bear interest at the Late Payment Rate pursuant to Section 3.05 from the due date thereof until paid, and the amount(s) of such interest shall be Additional Charges hereunder. 29.05. In addition to any remedies which Landlord may have under this Lease, if there shall be a default hereunder by Tenant which shall not have been remedied within the applicable grace period, Landlord shall not be obligated to furnish to Tenant or the Demised Premises any HVAC services, or any building services; and the discontinuance of any one or more of such services shall be without liability by Landlord to Tenant and shall not reduce, diminish or otherwise affect any of Tenant's covenants and obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Eschelon Telecom Inc)

Damages. In the event of any termination of Section 10.01 If this Lease lease is terminated under the provisions of Article 16 hereof VIII, or in the event that Landlord if Lessor shall re-enter the demised premises under the provisions provision of Article 17 hereof IX, or in the event of the termination of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Lessee, Tenant will Lessee shall pay to Landlord Lessor as damages, at the election of LandlordLessor, eithereither the present value of: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry by LandlordLessor, as the case may be, represents the then value of the excess, if any, of (of 1) the present value of the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, Lessee (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entry, as the case may bemaybe, and ending with the date hereinbefore set for Expiration Date, had this lease not so terminated or had Lessor not so re-entered the expiration of the full term grantedDemised Premises, over (over 2) the present value of the aggregate fair market rental value of the Demised premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant Lessee had this Lease lease not so terminated, or had Landlord Lessor not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granteddate; provided, however, that if Landlord (Landlord, however, not being obligated to do so) Lessor shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord Lessor shall credit Tenant Lessee with the net rents actually received by Landlord Lessor from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord Lessor from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord Lessor in terminating this Lease and/or of lease or in re-entering the demised premises and of in securing possession thereof, as well as the expenses expense of re-lettingreletting, including altering and preparing the demised premises for new tenantsLessees, brokers' commissionbroker's commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant Lessee be entitled to receive any excess or of such net rents over the sums payable by Tenant Lessee to Landlord Lessor hereunder, (ii) in no event nor shall Tenant Lessee be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from for a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Lessor. If the commencement of such suit, and (iii) if the Demised premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of for the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Lessor for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entrythe reletting. Lessor agrees to use reasonable commercial efforts to relet the premises for the unexpired term of the Lease. Section 10.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord Lessor from time to time at its election, and nothing contained herein shall be deemed to require Landlord Lessor to postpone suit until the date when the term of this the Lease would have expired if it had not been so terminated under the provisions of Article 16 hereofVIII, or under any provision of law, or had the Landlord Lessor not re-entered the premisesdemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord Lessor against Tenant Lessee of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.in

Appears in 1 contract

Sources: Lease Agreement (Carpenter W R North America Inc)

Damages. In the event of any termination of 27.01 If this Lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 26, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, discounted to present value at the rate of six (16%) percent per annum, of: the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, Demised Premises; over (2) the aggregate rental value of the premises Demised Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis (for equivalent space) shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entry. the reletting. 27.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof25, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 27.01.

Appears in 1 contract

Sources: Lease (Boomerang Systems, Inc.)

Damages. In the event of any termination of If this Lease lease is terminated under the provisions of Article 16 hereof Section 6.03, or in the event that if Landlord shall re-enter enters the premises Demised Premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Section 6.04, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then value of the excess, if any, of of: (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which Rent which, had this lease not terminated, would have been paid payable hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or on the day following the date of any such termination or re-entry, as entry to and including the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date; over (2) the aggregate fair rental value of the premises Demised Premises for the same periodperiod (for the purposes of this clause (a) the amount of Additional Rent which would have been payable by Tenant under Sections 2.02 and 2.03 shall, for each calendar year ending after such termination or re-entry, be deemed to be an amount equal to 105% of the amount of such Additional Rent payable by Tenant for the calendar year immediately preceding the calendar year in which such termination or re-entry shall occur in the case of the first such calendar year and the immediately prior calendar year in the case of each succeeding calendar year); or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which Rent that would have been payable by Tenant through and including the Expiration Date had this Lease lease not so terminated, terminated or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedin this lease; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Demised Premises for all or any part of said periodthe period commencing on the day following the date of such termination or re-entry to and including the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or lease and of re-entering the premises Demised Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that that: (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, under this lease; (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) Section 6.05(b), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and ; (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting; and (iv) Landlord shall have no obligation to so relet the purposes of subparagraph (a) of this Article 18Demised Premises and Tenant hereby waives any right Tenant may have, at law or in equity, to require Landlord to so relet the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryDemised Premises. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term or a renewal thereof would have expired if it had not been terminated under the provisions of Article 16 hereof, but for such termination or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantentry.

Appears in 1 contract

Sources: Securities Purchase Agreement (1847 Goedeker Inc.)

Damages. In the event of any termination of 26.01. If this Lease is terminated under the provisions of Article 16 hereof 24, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 25, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or of any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either:; (a) a A sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent Fixed Base Rent and the additional rent under Article 24 hereof Additional Rent payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration Demised Premises, discounted to present value at the rate of the full term granted, four (4%) percent over (2ii) the aggregate rental value of the premises Demised Premises for the same period, or (b) sums Sums equal to the aggregate of the fixed rent Fixed Base Rent and the additional rent under Article 24 hereof Additional Rent (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. Damages shall also include the commencement unamortized portion of such suit, and (iii) if any brokerage fees or commissions paid by Landlord. If the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof to be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such rethe reletting. 4846-entry0294-9028.v11 26.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof24, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to seek and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 26.01. 26.03. In addition to the foregoing and without regard to whether this Lease is terminated, Tenant shall pay to Landlord upon demand, all costs and expenses incurred by Landlord, including reasonable attorney’s fees, with respect to any lawsuit instituted or defended or any action taken by Landlord to enforce all or any of the provisions of this Lease. 26.04. Notwithstanding anything in this Article 26 to the contrary, if this Lease is terminated under the provisions of Article 24, or if Landlord shall re-enter the Demised Premises under the provisions of Article 25, or in the event of the termination of this Lease, or of re-entry, by or under any summary dispossess or other proceeding or action of any provision of law by reason of default hereunder on the part of Tenant, Landlord shall not have the right to seek or collect damages from Tenant for Fixed Base Rent or Additional Rent not yet due and payable (i.e., Landlord shall not have the right to accelerate such rent) unless and until any mortgagee of the Land or Building or Landlord’s interest therein accelerates its loan as a result of Tenant’s default beyond all applicable notice and cure periods hereunder.

Appears in 1 contract

Sources: Lease Agreement (UroGen Pharma Ltd.)

Damages. In the event of any termination 17.1. If there is a Default Termination of this Lease under Lease, the provisions of Article 16 hereof or in the event that Landlord Tenant shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to the Landlord as damages, at the election of the Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may beDefault Termination, represents the then present value (such computation to be made by using the then prevailing rate of most recently issued bonds or notes issued by the United States Treasury having a maturity closest to but not exceeding the period commencing with the day following the date of such Default Termination and ending with the date originally specified as the expiration date of this Lease (the "Remaining Period")) of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant Twenty-four (if any) which, had this Lease not so terminated, would have been payable under this Lease by the Tenant for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Remaining Period over (2) the aggregate rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof Twenty-four (if any) which would have been payable by the Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesterminated by such Default Termination, payable upon the due dates therefor specified herein in this Lease following such termination or such re-entry Default Termination and until the date hereinbefore set for originally specified as the expiration of the full term hereby grantedthis Lease; provided, however, that if the Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe Remaining Period (the Landlord having no obligation to so relet the Premises), the Landlord shall credit the Tenant with the net rents actually received by the Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by the Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by the Landlord in terminating this Lease and/or of and re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that (i) in no event shall the Tenant be entitled to receive any excess or of such net rents over the sums payable by the Tenant to Landlord hereunderthe Landlord, (ii) in no event shall the Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph subsubsection (b) ), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by the Landlord prior to the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. 17.2. For the purposes of subparagraph (a) of this Article 18Article, the amount of additional rent which would have been payable by the Tenant under Article 24 hereof Twenty-four for each Tax Year or Operating Year (as those terms are defined in Article Twenty-four) ending after such Default Termination shall be deemed to be in an amount equal to as shall be reasonably determined by the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryLandlord. Suit or suits for the recovery of such damagesany damages payable by the Tenant, or any installments thereof, may be brought by the Landlord from time to time at its election, and nothing contained herein in this Lease shall be deemed to require the Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premisesbut for such Default Termination. 17.3. Nothing herein contained in this Lease shall be construed as limiting or precluding the recovery by the Landlord against the Tenant of any sums or damages to which, in addition to the damages particularly provided specified above, the Landlord may lawfully be entitled by reason of any default hereunder under this Lease on the part of the Tenant.

Appears in 1 contract

Sources: Lease Agreement (G Iii Apparel Group LTD /De/)

Damages. In the event of any termination of (i) If this Lease and the Term shall expire and come to an end as provided in Article 17, or by or under the provisions of Article 16 hereof any summary proceeding or in the event that any other action or proceeding, or if Landlord shall re-enter the premises under the provisions of Article 17 hereof or Premises as provided in the event of the termination subsection A of this Lease (Article 18, or of re-entry by or under any summary dispossess or other proceeding or any other action or proceeding, then, in any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, eithersaid events: (a) a sum at Tenant shall pay to Landlord all Rent, additional rent and other charges payable under this Lease by Tenant to Landlord to the date upon which at this Lease and the time Term shall have expired and come to an end or to the date of re-entry upon the Premises by Landlord, as the case may be; (b) Tenant also shall be liable for and shall pay to Landlord, as damages, any deficiency (referred to as "Deficiency") between the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term and the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of subsection A(i) of this Article 18 for any part of such period (first deducting from the rents collected under any such reletting all of Landlord's expenses in connection with the termination of this Lease, or Landlord's reentry upon the Premises and with such reletting including, but not limited to, all repossession costs, brokerage commissions, advertising, legal expenses, attorneys' fees and disbursements, alteration costs and other expenses of preparing the Premises for such reletting); any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Rent, Landlord shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord's right to collect the Deficiency for any subsequent month by a similar proceeding; and (c) whether or not Landlord shall have collected any monthly Deficiencies as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord, on demand, in lieu of any further Deficiencies as and for liquidated and agreed final damages, a sum equal to the present value (discounted at a rate of six percent (6%) per annum) of the time amount by which the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term exceeds the then fair and reasonable rental value of the Premises for the same period, less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of subsection B(1)(b) of this Article 18 for the same period; if, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting. (ii) If the Premises, or any part thereof, shall be relet together with other space in the Building, the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this subsection B. Tenant shall in no event be entitled to any rents collected or payable under any reletting, whether or not such rents shall exceed the Rent reserved in this Lease. Solely for the purposes of this Article, the term "Rent" as used in subsection B(i) of this Article 18 shall mean the Rent in effect immediately prior to the date upon which this Lease and the Term shall have expired and come to an end, or the date of re-entry upon the Premises by Landlord, as the case may be, represents adjusted to reflect any increase or decrease pursuant to the then value provisions of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 28 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with Comparison Year (as defined in said Article 28) immediately preceding such earlier termination of this Lease event. Nothing contained in Article 17 or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof 18 shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease limit or such re-entry. Suit or suits for preclude the recovery of such damages, or any installments thereof, may be brought by Landlord from time Tenant of the maximum amount allowed to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, obtained as damages by any statute or under any provision rule of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, which Landlord may be entitled in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason set forth in subsection B(i) of any default hereunder on the part of Tenant.this

Appears in 1 contract

Sources: Lease Agreement (Predictive Systems Inc)

Damages. In the event of any termination of 24.01. If this Lease lease is terminated under the provisions of Article 16 hereof 22 hereof, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 23 hereof, or in the event of the termination of this Lease (lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if anyany (assuming a discount at a rate per annum equal to the interest rate then applicable to 7-year Federal Treasury Bonds), of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Charges under Article 3 hereof to be the same as were payable for the last twelve (12) calendar months, or if less than twelve (12) calendar months have then elapsed since the Commencement Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration of date hereof if this lease had not so terminated or if Landlord had not so reentered the full term grantedPremises, over (2ii) the aggregate fair market rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof (if any) which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration of date hereof if this lease had not so terminated or if Landlord had not so reentered the full term hereby grantedPremises; providedPROVIDED, howeverHOWEVER, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, reasonable and actual expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering lease or in reentering the premises Premises and of in securing possession thereof, as well as the reasonable and actual expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commissioncommissions, attorneys' fees reasonable legal fees, and all other similar or dissimilar customary and reasonable expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Premises, or part thereof, so relet during the term of the reletting, provided that such reletting shall be deemed to be an amount equal constitute a bona-fide arms-length third party transaction. Notwithstanding anything to the amount contrary contained in this lease, Landlord shall use reasonable efforts to relet the Premises, either in the name of Landlord or otherwise, to such additional tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions (that may include concessions and free rent payable by Tenant periods) as Landlord may reasonably determine, PROVIDED, HOWEVER, that Landlord shall not be liable in any way whatsoever for its failure to relet the applicable period ending immediately preceding Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such termination of reletting, and no such failure to relet or failure to collect rent shall release or affect Tenant's liability for damages or otherwise under this Lease or such re-entrylease. 24.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease lease would have expired if it had not been so terminated under the provisions of Article 16 22 hereof, or under any provision of law, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this lease or reentry on the Premises for the default of Tenant under this lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01 hereof. Notwithstanding any provisions of this lease to the contrary, Landlord shall not be liable to Tenant, and Tenant shall not be liable to Landlord, for consequential damages of any -130- kind or nature, even if arising from any act, omission or negligence of such party or from the breach by such party of its obligations under this lease; PROVIDED, HOWEVER, that the foregoing shall not be deemed to limit Tenant's obligation to reimburse Landlord for any damages as expressly required pursuant to Article 34 hereof, regardless of whether any court or arbitrator awarding such damages shall regard or classify same as consequential damages. 24.03. In addition, if this lease is terminated under the provisions of Article 22 hereof, or if Landlord shall reenter the Premises under the provisions of Article 23 hereof, Tenant agrees that: (a) the Premises then shall be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration of the term hereof; (b) Tenant shall have performed prior to any such termination any covenant of Tenant contained in this lease for the making of any Alterations or for restoring or rebuilding the Premises or the Building, or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 24.03, Landlord shall be entitled immediately, without notice or other action by Landlord, to recover, and Tenant shall pay, as and for liquidated damages therefor, the cost of performing such covenant (as estimated by a reputable independent contractor selected by Landlord). 24.04. In addition to any other remedies Landlord may have under this lease, and without reducing or adversely affecting any of Landlord's rights and remedies under Article 22 hereof, if any Fixed Rent, Additional Charges or damages payable hereunder by Tenant to Landlord are not paid within three (3) Business Days after the due date thereof, the same shall bear interest at the Base Rate plus five (5%) percent, from the due date thereof until paid, and the amount of such interest shall be an Additional Charge hereunder. For the purposes of this Section 24.04, a rent ▇▇▇▇ sent by first class mail, to the address to which notices are to be given under this lease, shall be deemed a proper demand for the payment of the amounts set forth therein.

Appears in 1 contract

Sources: Lease (Citigroup Inc)

Damages. In the event of any termination of (i) If this Lease and the Term shall expire and come to an end as provided in Article 17, or by or under the provisions of Article 16 hereof any summary proceeding or in the event that any other action or proceeding, or if Landlord shall re-enter the premises under the provisions of Article 17 hereof or Premises as provided in the event of the termination subsection A of this Lease (Article 18, or of re-entry by or under any summary dispossess or other proceeding or any other action or proceeding, then, in any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, eithersaid events: (a) a sum at Tenant shall pay to Landlord all Rent, additional rent and other charges payable under this Lease by Tenant to Landlord to the date upon which at this Lease and the time Term shall have expired and come to an end or to the date of re-entry upon the Premises by Landlord, as the case may be; (b) Tenant also shall be liable for and shall pay to Landlord, as damages, any deficiency (referred to as “Deficiency”) between the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term and the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of subsection A(i) of this Article 18 for any part of such period (first deducting from the rents collected under any such reletting all of Landlord’s out-of-pocket expenses in connection with the termination of this Lease, or Landlord’s reentry upon the Premises and with such reletting including, but not limited to, all repossession costs, brokerage commissions, advertising, legal expenses, attorneys’ fees and disbursements, alteration costs and other expenses of preparing the Premises for such reletting); any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Rent, Landlord shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and (c) whether or at not Landlord shall have collected any monthly Deficiencies as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord, on demand, in lieu of any further Deficiencies as and for liquidated and agreed final damages, a sum equal to the time amount by which the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term exceeds the then fair and reasonable rental value of the Premises for the same period, less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of subsection B(1)(b) of this Article 18 for the same period all reduced to present value using a discount rate equal to the interest rate of a governmental security having a maturity closest to the then current expiration of the Lease Term; if, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting. (ii) If the Premises, or any part thereof, shall be relet together with other space in the Building, the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this subsection B. Tenant shall in no event be entitled to any rents collected or payable under any reletting, whether or not such rents shall exceed the Rent reserved in this Lease. Solely for the purposes of this Article, the term “Rent” as used in subsection B(i) of this Article 18 shall mean the Rent in effect immediately prior to the date upon which this Lease and the Term shall have expired and come to an end, or the date of re-entry upon the Premises by Landlord, as the case may be, represents adjusted to reflect any increase or decrease pursuant to the then value provisions of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 28 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with Comparison Year (as defined in said Article 28) immediately preceding such earlier termination of this Lease event. Nothing contained in Article 17 or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof 18 shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease limit or such re-entry. Suit or suits for preclude the recovery of such damages, or any installments thereof, may be brought by Landlord from time Tenant of the maximum amount allowed to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, obtained as damages by any statute or under any provision rule of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, which Landlord may be entitled in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason set forth in subsection B(i) of any default hereunder on the part of Tenantthis Article 18.

Appears in 1 contract

Sources: Lease Agreement (Yodle Inc)

Damages. In the event of any termination 17.1. If there is a Default Termination of this Lease under Lease, the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to the Landlord as damages, at the election of the Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may beDefault Termination, represents the then present value (such computation to be made by using a rate one percentage point greater than the then prevailing rate of most recently issued bonds or notes issued by the United States Treasury having a maturity closest to but not exceeding the period commencing with the day following the date of such Default Termination and ending with the date originally specified as the expiration date of this Lease (the “Remaining Period”)) of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant Twenty-four (if any) which, had this Lease not so terminated, would have been payable under this Lease by the Tenant for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Remaining Period over (2) the aggregate fair market rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof Twenty-four (if any) which would have been payable by the Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesterminated by such Default Termination, payable upon the due dates therefor specified herein in this Lease following such termination or such re-entry Default Termination and until the date hereinbefore set for originally specified as the expiration of the full term hereby granted; this Lease, provided, however, that if the Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe Remaining Period (the Landlord having no obligation to so relet the Premises), the Landlord shall credit the Tenant with the net rents actually received by the Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by the Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by the Landlord in terminating this Lease and/or of and re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that (i) in no event shall the Tenant be entitled to receive any excess or of such net rents over the sums payable by the Tenant to Landlord hereunderthe Landlord, (ii) in no event shall the Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph subsection (b) ), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by the Landlord prior to the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. 17.2. For the purposes of subparagraph (a) of this Article 18Article, the amount of additional rent which would have been payable by the Tenant under Article 24 hereof shall Twenty-four shall, for each Computation Year (as defined in Article Twenty-four) ending after such Default Termination, be deemed to be an amount equal to the amount of such additional rent payable by the Tenant for the applicable period ending Computation Year immediately preceding the Computation Year in which such termination Default Termination occurs or if the Default Termination occurs prior to the end of the first Computation Year, then the Landlord’s reasonable estimate of what additional rent would have been had this Lease or commenced one year earlier, and in either case deemed increased each year by the percentage increase in additional rent for the immediately preceding Computation Year over the additional rent for the twelve-month period prior thereto or, if this Lease term did not occur throughout such re-entry. prior years, Landlord’s reasonable estimate of what such increase would have been had the term occurred during such years Suit or suits for the recovery of such damagesany damages payable by the Tenant, or any installments thereof, may be brought by the Landlord from time to time at its election, and nothing contained herein in this Lease shall be deemed to require the Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereofbut for such Default Termination. 17.3. Subject to Section 6.2, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained nothing in this Lease shall be construed as limiting or precluding the recovery by the Landlord against the Tenant of any sums or damages to which, in addition to the damages particularly provided specified above, the Landlord may lawfully be entitled by reason of any default hereunder under this Lease on the part of the Tenant.

Appears in 1 contract

Sources: Lease Agreement (Lazard LTD)

Damages. In the event of any termination a Default Termination of this Lease under Lease, the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to the Landlord as damages, at the election of the Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may beDefault Termination, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and rent, the additional rent under Article 24 Twenty-fourth hereof which would have been paid hereunder by Tenant (if any) and the percentage rent (if any) which, had this Lease not so terminated, would have been payable hereunder by the Tenant for the period commencing with such earlier termination of this Lease or the day following the date of any such re-entry, as the case may be, Default Termination and ending with the date hereinbefore set for the expiration of the full term hereby granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and rent, the additional rent under Article 24 Twenty-fourth hereof (if any) and the percentage rent (if any) which would have been payable by the Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesterminated by such Default Termination, payable upon the due dates therefor specified herein following such termination or such re-entry Default Termination and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if the Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises for all or any part of said periodthe period commencing on the day following the date of such Default Termination and ending on the date hereinbefore set for the expiration of the full term hereby granted, the Landlord shall credit the Tenant with the net rents actually received by the Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by the Landlord from such re-letting reletting the expenses, including attorneys fees, reasonable expenses incurred or paid by the Landlord in terminating this Lease and/or and of re-entering the premises and of securing possession thereof, as well as the reasonable expenses of re-lettingreletting, including altering and preparing the premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that (i) in no event shall the Tenant be entitled to receive any excess or of such net rents over the sums payable by the Tenant to the Landlord hereunder, (ii) in no event shall the Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) ), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by the Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For the purposes of this Article, the amount of the percentage rent (if any) which would have been payable for the period following a Default Termination of this Lease shall be deemed to be an amount, for each calendar month in said period, equal to the monthly average amount of percentage rent (if any) which became payable under this Lease during the term hereof prior to such Default Termination. For the purposes of subparagraph (a) of this Article 18Article, the amount of additional rent which would have been payable by the Tenant under Article 24 Twenty-fourth hereof shall shall, for each Computation Year (as hereinafter defined) ending after such Default Termination, be deemed to be an amount equal to the amount of such additional rent payable by the Tenant for the applicable period ending Computation Year immediately preceding the Computation Year in which such termination of this Lease or such re-entryDefault Termination occurs. Suit or suits for the recovery of such damagesany damages payable hereunder by the Tenant, or any and installments thereof, may be brought by the Landlord from time to time at its election, and nothing contained herein shall be deemed to require the Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premisesbut for such Default Termination. Nothing herein contained shall be construed as limiting or precluding the recovery by the Landlord against the Tenant of any sums or damages to which, in addition to the damages particularly provided above, the Landlord may lawfully be entitled by reason of any default hereunder on the part of the Tenant.

Appears in 1 contract

Sources: Lease (Smith & Wollensky Restaurant Group Inc)

Damages. In the event of any termination of 22.01 If this Lease is terminated under the provisions of Article 16 hereof 20, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 21 or in the event of the termination of this Lease (Lease, or of re-entry by or under any summary dispossess or other proceeding or action or any provision reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either:, (a) on demand, a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, excess of (1) the aggregate of the fixed rent Base Rent and the additional rent under Article 24 hereof Additional Rent payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the Additional Rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term grantedTerm, had this Lease not so terminated or had Landlord not so re-entered the Demised Premises, over (2) the aggregate rental value (calculated as of the premises date of such termination or re-entry) of the Demised Premises for the same period, or, (b) sums equal to the aggregate of the fixed rent Base Rent and the additional rent under Article 24 hereof Additional Rent (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable quarterly but otherwise upon the due dates terms therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Term, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all relet the Demised Premises or any part of the premises for all portion or any part of portions thereof during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises or any portion or portions thereof for new tenantsTenants, brokers' commissionbrokers commissions, advertising expenses, attorneys, fees' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term Term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the Term, or any part thereof, before presentation of this Article 18proof of such damages to any court, commission, or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding Demised Premises, or part thereof, so relet during the term of the reletting. Landlord however shall in no event and in no way be responsible or liable for any failure to relet the Demised Premises or any part thereof or for failure to collect any rent due upon any such termination of this Lease or such re-entry. reletting. 22.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof20, or under any provision of law, or had the had, Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder or otherwise on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of the Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 22.01. 22.03 Anything in this Lease to the contrary notwithstanding, if Tenant shall at any time be in default hereunder, and if Landlord shall institute an action or summary proceeding against Tenant based upon such default, or if such default results from non-payment of Base Rent or Additional Rent whether or not such an action or proceeding is instituted, or if Tenant requests Landlord to review or execute documents (including, without limitation, any sublease or occupancy documents) in connection with this Lease, or otherwise if it is reasonably prudent for Landlord to contact counsel, then Tenant shall reimburse Landlord, as Additional Rent, for the expense of attorneys' fees and disbursements thereby incurred by Landlord.

Appears in 1 contract

Sources: Sublease (Radiation Therapy Services Inc)

Damages. Section 14.01 In the event of any termination a Default Termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Lease, Tenant will pay to Landlord as damages, at the election of the Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, Default Termination represents the then value of the excess, if any, of the Present Value, as herein defined, of (1) the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof 26 (if any) which would have been paid payable hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the day following the date of any such re-entry, as the case may be, Default Termination and ending with the date hereinbefore set for the expiration of the full term grantedscheduled Expiration Date, over (2) the aggregate fair rental value of the premises Premises for the same periodperiod as determined by an independent real estate appraiser named by Landlord and employed at Tenant’s expense, in which case such liquidated damages shall be accelerated to be due and payable to Landlord in one lump sum on demand at any time commencing with the day following the date of such Default Termination and shall bear interest at the Default Rate, as herein defined, until paid, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof 26 (if any) which would have been due and payable by Tenant during the remainder of the term had this Lease not so terminatedterminated by such Default Termination, or had Landlord not so re-entered in which case such liquidated damages shall be computed and payable in monthly installments, in advance, on the premises, payable upon the due dates therefor specified herein first day of each calendar month following such termination or such re-entry Default Termination of this Lease and continuing until the date hereinbefore set scheduled Expiration Date but for the expiration of the full term hereby grantedsuch Default Termination; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting until the scheduled Expiration Date, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commission, attorneys' fees ’ commissions and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, further that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph clause (b) ), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such each suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper appropriate apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. Landlord shall have no obligation whatsoever to mitigate its damages upon Tenant’s default under this Lease and Landlord shall not be liable in any way whatsoever for the failure to relet all or any portion of the Premises. For the purposes of subparagraph subdivision (a) of this Article 18Section 14.01, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.been

Appears in 1 contract

Sources: Lease (Paramount Group, Inc.)

Damages. In the event of any termination of 29.01. If this Lease is terminated under the provisions of Article 16 hereof 27, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 28, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay as Additional Charges to Landlord as damagesLandlord, at the election of Landlord, eithereither or any combination of: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate amount of the fixed rent and the additional rent under Article 24 hereof Rent which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Charges to be the same as were the average monthly Additional Charges payable for the year, or if less than 365 days have then elapsed since the Commencement Date, the partial year, immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term grantedExpiration Date, over (2ii) the aggregate rental value of the premises Demised Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof (if any) Additional Charges which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaseperiod ending on the Expiration Date; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph subsection (b) to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting; or (c) a sum which at the purposes time of subparagraph (a) such termination of this Article 18Lease or at the time of any such reentry by Landlord, as the case may be, represents the aggregate amount of additional rent the Rent which would have been payable by Tenant under Article 24 hereof shall be deemed (conclusively presuming the average monthly Additional Charges to be an amount equal to the amount of such additional rent same as were the average monthly Additional Charges payable by Tenant for the applicable period ending year, or if less than 365 days have then elapsed since the Commencement Date, the partial year, immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the Expiration Date; provided, however, that if Landlord shall relet the Demised Premises during said period, Landlord shall credit Tenant with the net rents received by Landlord from such reletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such reletting the expenses incurred or paid by Landlord in terminating this Lease or in re-entering the Demised Premises and in securing possession thereof as well as the expenses of reletting, including, without limitation, altering and preparing the Demised Premises for new tenants, brokers' commissions, legal fees, and all other expenses properly chargeable against the Demised Premises and the rental therefrom, it being understood that any such reletting may be for a period shorter or longer than the period ending on the Expiration Date; but in no event shall Landlord have to account to Tenant for any rents in excess of the total damages recovered by Landlord hereunder, nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subdivision (c) to a credit in respect of any rents from a reletting, except to the extent that such net rents are actually received by Landlord. If the Demised Premises or any part thereof should be relet in combination with other space, then proper apportionment on a square foot basis shall be made of the rent received from such reletting and of the expenses of reletting. If the Demised Premises or any part thereof be relet by Landlord before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Demised Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under such reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant's liability for damages or otherwise under this Lease. 29.02. Suit or suits for the recovery of such damagesdamages or, or any installments thereof, may be brought by Landlord at any time and from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof27, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this Lease or re-entry of the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time, whether or not such amount be greater than, equal to, or less than any of the sums referred to in Section 29.01. 29.03. In addition, if this Lease is terminated under the provisions of Article 27, or if Landlord shall re-enter the Demised Premises under the provisions of Article 28, Tenant covenants that: (a) the Demised Premises then shall be in the same condition as that in which Tenant has agreed to surrender the same to Landlord at the Expiration Date; (b) Tenant shall have performed prior to any such termination any obligation of Tenant contained in this Lease for the making of any alteration or for restoring or rebuilding the Demised Premises or the Building, or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 29.03, Landlord shall be entitled immediately, without notice or other action by Landlord, to recover, and Tenant shall pay, as and for liquidated damages therefor, the cost of performing such covenant (as estimated by an independent contractor selected by Landlord). 29.04. In addition to any other remedies Landlord may have under this Lease, and without reducing or adversely affecting any of Landlord's rights and remedies under this Article 29, if any Rent or damages payable hereunder by Tenant to Landlord are not paid within five (5) business days of demand therefor, the same shall bear interest at the Late Payment Rate or the maximum rate permitted by law, whichever is less, from the due date thereof until paid, and the amounts of such interest shall be Additional Charges hereunder. 29.05. In addition to any remedies which Landlord may have under this Lease, if there shall be a default hereunder by Tenant which shall not have been remedied within the applicable grace period, Landlord shall not be obligated to furnish to Tenant or the Demised Premises any HVAC services outside of Business Hours or Business Days, or any extra or additional cleaning services; and the discontinuance of any one or more such services shall be without liability by Landlord to Tenant and shall not reduce, diminish or otherwise affect any of Tenant's covenants and obligations under this Lease.

Appears in 1 contract

Sources: Office Lease (Audible Inc)

Damages. In the event of any termination of If this Lease lease is terminated under the provisions of Article 16 hereof Section 6.03, or in the event that if Landlord shall re-enter enters the premises Demised Premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will Section 6.04,Tenant shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then value of the excess, if any, of of: (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which Rent which, had this lease not terminated, would have been paid payable hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or on the day following the date of any such termination or re-entry, as entry to and including the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date; over (2) the aggregate fair rental value of the premises Demised Premises for the same periodperiod (for the purposes of this clause (a) the amount of Additional Rent which would have been payable by Tenant under Sections 2.02 and 2.03 shall, for each calendar year ending after such termination or re-entry, be deemed to be an amount equal to 105% of the amount of such Additional Rent payable by Tenant for the calendar year immediately preceding the calendar year in which such termination or re-entry shall occur in the case of the first such calendar year and the immediately prior calendar year in the case of each succeeding calendar year); or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which Rent that would have been payable by Tenant through and including the Expiration Date had this Lease lease not so terminated, terminated or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedin this lease; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Demised Premises for all or any part of said periodthe period commencing on the day following the date of such termination or re-entry to and including the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or lease and of re-entering the premises Demised Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Demised Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that that: (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, under this lease; (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) Section 6.05(b), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and ; (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting; and (iv) Landlord shall have no obligation to so relet the purposes of subparagraph (a) of this Article 18Demised Premises and Tenant hereby waives any right Tenant may have, at law or in equity, to require Landlord to so relet the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryDemised Premises. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term or a renewal thereof would have expired if it had not been terminated under the provisions of Article 16 hereof, but for such termination or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantentry.

Appears in 1 contract

Sources: Lease Agreement (1847 Goedeker Inc.)

Damages. In the event of any termination of (i) If this Lease and the Term shall expire and come to an end as provided in Article 17, or by or under the provisions of Article 16 hereof any summary proceeding or in the event that any other action or proceeding, or if Landlord shall re-enter the premises under the provisions of Article 17 hereof or Premises as provided in the event of the termination subsection A of this Lease (Article 18, or of re-entry by or under any summary dispossess or other proceeding or any other action or proceeding, then, in any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, eithersaid events: (a) a sum at which at the time of such termination of Tenant shall pay to Landlord all Rent, Additional Rent and other charges payable under this Lease by Tenant to Landlord to the date upon which this Lease and the Term shall have expired and come to an end or at to the time date of any such re-entry upon the Premises by Landlord▇▇▇▇▇▇▇▇, as the case may be; and (b) Tenant also shall be liable for and shall pay to Landlord, represents as damages, any deficiency (referred to as "Deficiency") between the then value Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the excessTerm and the net amount, if any, of (1rents collected under any reletting effected pursuant to the provisions of subsection A(i) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set Article 18 for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by period (first deducting from the gross rents as collected under any such reletting all of Landlord's reasonable expenses in connection with the termination of this Lease, or Landlord's reentry upon the Premises and when received by Landlord from with such re-letting the reletting including, but not limited to, all repossession costs, brokerage commissions, advertising, legal expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, reasonable attorneys' fees and all disbursements, alteration costs and other expenses of preparing the Premises for such reletting); any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Rent, Landlord shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord's right to collect the Deficiency for any subsequent month by a similar proceeding. (ii) If the Premises or dissimilar expenses properly chargeable against any part thereof, shall be relet together with other space in the premises Building, the rents collected or reserved under any such reletting and the rental therefrom in connection with such re-letting, it being understood that expenses of any such re-letting may reletting shall be equitably apportioned for a period equal to, less than or longer than the remaining term purposes of this Lease; provided, further, that (i) subsection B. Tenant shall in no event shall Tenant be entitled to receive any excess rents collected or payable under any reletting, whether or not such net rents over shall exceed the sums payable by Tenant to Landlord hereunder, (ii) Rent reserved in no event shall Tenant be entitled in any suit this Lease. Solely for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18Article, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.the

Appears in 1 contract

Sources: Lease Agreement (COMPASS Pathways PLC)

Damages. In Whether or not this Lease is terminated by Landlord pursuant to Section 18.02 hereof, upon the occurrence of an Event of Default and the continuation of any such Event of Default after the expiration of any applicable cure period provided for herein, Tenant shall in all events nevertheless remain liable for (a) any Rent, any installment of the Riverfront Park Grant (the "Grant"), any damages which may be due or sustained prior to the last to occur of the date upon which an Event of Default occurs or the date of expiration of any applicable cure period with respect to such Event of Default, including damages under Section 2.06 hereof, and, in addition, all reasonable costs, fees and expenses, including, but not limited to, reasonable attorneys' fees, costs and expenses, incurred by Landlord in pursuit of its remedies hereunder, and in renting the Demised Premises and the Easements or any portion thereof to others from time to time (all such Rent, Grant, damages, costs, fees and expenses being referred to herein as "Default/ Termination Damages"), and (b) in the event Landlord shall attempt to relet or shall relet all or any portion of any termination of this Lease under the provisions of Article 16 hereof Demised Premises or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease shall be terminated, additional damages (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of lawthe "Liquidated Damages"), Tenant will pay to Landlord as damageswhich, at the election of Landlord, eithershall be as follows: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no the event shall Tenant be entitled that Landlord has not exercised its right to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunderterminate this Lease, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the Rent which would have become due during the remainder of the Term or any exercised renewal thereof, less the amount of rent, additional rent, grant, and other sums, if any, which Landlord shall receive during such additional period from others to whom the Demised Premises and/or any portion thereof may be rented (other than any rent or other sum received by Landlord as a result of any failure of such other person or entity to perform any of its obligations to Landlord), in which case such Liquidated Damages shall be computed and payable in monthly installments, in advance, on the first day of each calendar month following the occurrence of an uncured Event of Default under this Lease and continuing until the date on which the Term (or any exercised renewal thereof with no automatic renewals to occur thereafter) is due to expire, and any suit or action brought to collect any such Liquidated Damages for any month shall not in any manner prejudice the right of Landlord to collect any Liquidated Damages for any subsequent month by Tenant a similar proceeding or be deemed to require repeated lawsuits hereunder; or (ii) if Landlord shall at any time exercise its right to terminate this Lease, an amount equal to the present worth (as of the date of such termination) of Rent and Grant which, but for the applicable period ending immediately preceding such termination of this Lease Lease, would have become due during the remainder of the Term (or such re-entry. Suit or suits any exercised renewal thereof), less the fair rental value of the Demised Premises for the recovery remainder of such damages, the Term (or any installments exercised renewal thereof) with no automatic renewals to occur thereafter, may be brought as determined by Landlord from time to time at its electionan independent appraiser named by the presiding judge of the Circuit Court of ▇▇▇▇▇▇▇ County, and nothing contained herein Missouri, in which case such Liquidated Damages shall be deemed payable to require Landlord to postpone suit in one lump sum on demand and shall bear interest at the Interest Rate until the date when the term paid. For purposes of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereofclause (ii), or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained "present worth" shall be construed as limiting or precluding the recovery computed by Landlord against Tenant of any sums or damages discounting such amount to which, in addition present worth at a discount rate equal to the damages particularly provided aboveInterest Rate. If an uncured Event of Default shall take place after the expiration of two or more years after the Opening Date, Landlord may lawfully then, for purposes of computing the Liquidated Damages, the Percentage Rent payable with respect to each calendar year or portion thereof following such uncured Event of Default (including the balance of the year in which such uncured Event of Default shall take place) shall be entitled by reason conclusively presumed to be equal to the average Percentage Rent payable with respect to each complete year preceding such uncured Event of any default hereunder on Default. If such uncured Event of Default shall take place before the part expiration of Tenanttwo years after Opening Date, then, for purposes of computing the Liquidated Damages, the Percentage Rent payable with respect to each calendar year or portion thereof following such uncured Event of Default (including the balance of the calendar year in which such uncured Event of Default shall take place) shall be conclusively presumed to be equal to twelve (12) times the average monthly amount of Percentage Rent which was due and payable prior to such uncured Event of if no Percentage Rent shall have been payable during such period, then the Percentage Rent for each year of the unexpired Term shall be conclusively presumed to be a sum equal to that described in Section 2.06 as if there had been a failure of Tenant to operate its riverboat gaming enterprise.

Appears in 1 contract

Sources: Lease Agreement (Isle of Capri Casinos Inc)

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event (a) Tenant covenants and agrees that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or Landlord, under any summary dispossess of the provisions of this Article or other proceeding or action or any provision pursuant to law, by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord Landlord, as damagesdamages with respect to this Lease, at the election of Landlord, either: (a1) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then present value (using a discount rate of 8%) of the excess, if any, of of: (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof Rent which would have been paid hereunder payable by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date of this Lease, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, over Demised Premises over (2ii) the aggregate fair market rental value of the premises Demised Premises for the same period, ; or (biii) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor days specified herein in this Lease following such termination or such re-entry and until the date hereinbefore set for the expiration Expiration Date of the full term hereby granted; this Lease, provided, however, that if Landlord (Landlord, however, not being obligated to do so) the Demised Premises shall be leased or re-let all or any part of the premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually rents, if any, received by Landlord from such leasing or re-letting, such net rents Rent to be determined by first deducting from the gross rents as and when received by Landlord from such leasing or re-letting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or or of re-entering the premises Demised Premises and of securing possession thereof, as well as the expenses expense of leasing and re-letting, including altering and preparing any portion of the premises Demised Premises for new tenants, brokers' commission, attorneys' fees ’ commissions and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Leasethere from; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums Rent, payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph . (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such any and all damages, or any installments thereof, provided for hereunder may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereofthis Article, or under provisions of any provision of law, or had the Landlord not re-entered the premises. Demised Premises. (c) Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, which Landlord may lawfully be entitled by reason of in any default hereunder on the part of Tenantcase other than those particularly provided for above.

Appears in 1 contract

Sources: Lease Agreement (KMG America CORP)

Damages. In the event of any termination of 26.1. If this Lease is terminated under the provisions of Article 16 hereof 24, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 25, or in the event of the termination of this Lease (Lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of the Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent under Article 24 hereof Additional Rent which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Rent to be the same as was payable for the last twelve (12) calendar months, or if less than twelve (12) calendar months have then elapsed since the Rent Commencement Date, for all of the calendar months which have elapsed since the Rent Commencement Date) for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration of Expiration Date if this Lease had not so terminated or if Landlord had not so reentered the full term grantedPremises, over (2ii) the aggregate rental value of the premises Premises for the same period, both discounted to present value at a rate per annum equal to the then current interest rate on U.S. Treasury bills having maturities approximating as closely as practicable the balance of the Term then remaining, less any amount collected by Landlord as damages hereunder as Rent for the same period; or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof (if any) Additional Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration of Expiration Date if this Lease had not so terminated or if Landlord had not so reentered the full term hereby granted; Premises, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Premises and of in securing possession thereof, as well as the reasonable expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, reasonable brokers' commissioncommissions, attorneys' legal fees and all other similar or dissimilar reasonable expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; providedTerm, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents rents, over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a rentable square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For Supplementing the foregoing, (i) if this Lease is terminated under the provisions of Article 24, or (ii) if Landlord shall reenter the Premises under the provisions of Article 25, or (iii) in the event of the termination of this Lease, or of reentry, by or under any summary dispossess or other proceeding or action or any provision of law by reason of default hereunder on the part of the Tenant, or (iv) if Tenant is in default of its obligation under Section 1.3(a)(iv) hereof, then, in any such event, (a) Landlord shall have the right to draw down the Letter of Credit pursuant to Article 43, (b) the aggregate Fixed Rent described in Section 1.3 (a)(iv) shall be accelerated, and Tenant shall pay to Landlord the excess of any portion of the Fixed Rent described in Section 1.3(a)(iv) then payable for the balance of the Term over the proceeds drawn from the Letter of Credit, and (iii) Tenant shall pay to Landlord an amount equal to any breakage fee incurred by Landlord in connection with the Tenant Initial Work Allowance Proceeds (including, without limitation and by way of example, yield maintenance fees due in connection with any hedge instrument). If this Lease is terminated for Tenant's default prior to the Commencement Date, then for the purposes of subparagraph (a) of this Article 1826, the amount of additional rent which would have been payable by Tenant under Article 24 hereof this Lease shall be deemed to have commenced on the day prior to the date of such termination. If the Premises or any part thereof be an amount equal relet by Landlord for the unexpired portion of the Term, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal the amount of rent reserved upon such additional rent payable by Tenant reletting shall, prima facie, be the fair and reasonable rental value for the applicable period ending immediately preceding Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such termination of reletting after reasonable efforts to do so, and no such refusal or failure to relet or failure to collect rent so shall release or affect Tenant's liability for damages or otherwise under this Lease or such re-entryLease. 26.2. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof, or under any provision of law24, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of or any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to provide for and obtain as damages by reason of the termination of this Lease or reentry on the Premises for the default of Tenant under this Lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 26.1. 26.3. In addition, if this Lease is terminated under the provisions of Article 24, or if Landlord shall reenter the Premises under the provisions of Article 25, Tenant agrees that: (a) the Premises then shall be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration of the term hereof; (b) Tenant shall have performed prior to any such termination any covenant of Tenant contained in this Lease for the making of any Tenant Changes or for restoring or rebuilding the Premises or any part thereof; and (c) for the breach of any covenant of Tenant set forth in this Section 26.3, Landlord shall be entitled immediately, without notice or other action by Landlord, to recover, and Tenant shall pay as damages therefor, the reasonable cost of performing such covenant (as reasonably estimated by an independent contractor selected by Landlord).

Appears in 1 contract

Sources: Lease Agreement (Wellchoice Inc)

Damages. In the event of any termination of (i) If this Lease and the Term shall expire and come to an end as provided in Article 17, or by or under the provisions of Article 16 hereof any summary proceeding or in the event that any other action or proceeding, or if Landlord shall re-enter the premises under the provisions of Article 17 hereof or Premises as provided in the event of the termination subsection A of this Lease (Article 18, or of re-entry by or under any summary dispossess or other proceeding or any other action or proceeding, then, in any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, eithersaid events: (a) a sum at Tenant shall pay to Landlord all Rent, additional rent and other charges payable under this Lease by Tenant to Landlord to the ▇▇▇▇ upon which at this Lease and the time Term shall have expired and come to an end or to the date of re-entry upon the Premises by Landlord, as the case may be; (b) Tenant also shall be liable for and shall pay to Landlord, as damages, any deficiency (referred to as “Deficiency’) between the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term and the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of subsection A(i) of this Article 18 for any part of such period (first deducting from the rents collected under any such reletting all of Landlord’s expenses in connection with the termination of this Lease, or Landlord’s reentry upon the Premises and with such reletting including, but not limited to, all repossession costs. brokerage commissions, advertising, legal expenses, attorneys’ fees and disbursements, alteration costs and other expenses of preparing the Premises for such reletting); any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Rent, Landlord shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and (c) whether or at not Landlord shall have collected any monthly Deficiencies as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord, on demand, in lieu of any further Deficiencies as and for liquidated and agreed final damages, a sum equal to the time amount by which the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term exceeds the then fair and reasonable rental value of the Premises for the same period, less the aggregate amount of Deficiencies theretofore collected by Landlord pursuant to the provisions of subsection B(1)(b) of this Article 18 for the same period; if, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, shall have been relet by Landlord for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting. (ii) If the Premises, or any part thereof, shall be relet together with other space in the Building, the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this subsection B. Tenant shall in no event be entitled to any rents collected or payable under any reletting, whether or not such rents shall exceed the Rent reserved in this Lease. Solely for the purposes of this Article, the term “Rent” as used in subsection B(i) of this Article 18 shall mean the Rent in effect immediately prior to the date upon which this Lease and the Term shall have expired and come to an end, or the date of re-entry upon the Premises by Landlord, as the case may be, represents adjusted to reflect any increase or decrease pursuant to the then value provisions of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 28 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with Comparison Year (as defined in said Article 28) immediately preceding such earlier termination of this Lease event. Nothing contained in Article 17 or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof 18 shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease limit or such re-entry. Suit or suits for preclude the recovery of such damages, or any installments thereof, may be brought by Landlord from time Tenant of the maximum amount allowed to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, obtained as damages by any statute or under any provision rule of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, which Landlord may be entitled in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason set forth in subsection B(i) of any default hereunder on the part of Tenantthis Article 18.

Appears in 1 contract

Sources: Lease Agreement (Constant Contact, Inc.)

Damages. In the event of any termination of 18.01 If this Lease is terminated under the provisions of Article 16 hereof hereof, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof hereof, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming that additional rent on account of increases in Taxes shall increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing commending with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed annual rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event or shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should shall be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation or proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or reserved upon such re-entry. letting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. 18.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01 hereof. 18.03 Notwithstanding anything contained in this Article 18 or elsewhere in this Lease, neither Landlord nor Tenant shall have any liability to the other for so-called consequential (as opposed to actual) damages under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Varonis Systems Inc)

Damages. In the event of any termination of (a) 18.01. If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of any default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at sums equal to Landlord's costs in connection with the election leasing of the Demised Premises (as well as any additional space leased to Tenant pursuant to Article 42 herein)to Tenant, including, but not limited to any and all cost in connection with (i)Landlord's Work, (ii) leasing commissions paid in connection with this Lease, (iii)the Relocation Allowance set forth in Article 45 herein, (iv)the Holdover Rent set forth in Article 44 herein, (v)the Work Allowance set forth in Article 41 herein and the cost of restoring the Demised Premises to its original condition (herein collectively referred to as "Landlord, either:'s Costs"). The amount of said damage shall be reduced annually on a straight line basis over the term of this Lease. The parties hereto acknowledge that the above referenced damages are due and payable upon default so that the same is to be collected immediately. (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Annual Rent and the additional rent under Article 24 hereof (if anyas above presumed) which payable hereunder that would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that Landlord shall make commercially reasonable effort to mitigate its damages and re-let the Demised Premises during said period and if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting letting, the expenses, including attorneys fees, actual reasonable expenses incurred or paid by Landlord in terminating this Lease and/or of in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, reasonable attorneys' fees and disbursements, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this LeaseLease and that Landlord may grant concessions and free rent; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents actually are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For Landlord in no event shall be liable in any way whatsoever for failure to re-let the purposes Demised Premises nor shall such failure affect Tenant's liability for damages, it being expressly understood and agreed that Landlord has no obligation to mitigate Tenant's damages hereunder. If the Demised Premises or any part thereof shall be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or reserved upon such re-entry. Suit or suits letting, prima facie, shall be the fair and reasonable rental value for the recovery of such damagesDemised Premises, or any installments part thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when so re-let during the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantletting.

Appears in 1 contract

Sources: Lease Agreement (1 800 Flowers Com Inc)

Damages. In the event of any termination of 24.01. If this Lease lease is terminated under the provisions of Article 16 hereof 22, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 23, or in the event of the termination of this Lease (lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if anyany (assuming a discount at a rate per annum equal to the interest rate then applicable to United States Treasury Bonds having a term which most closely approximates the period commencing on the date that this lease is so terminated, or the date on which Landlord re-enters the Premises, as the case may be, and ending on the date on which this lease was scheduled to expire but for such termination or reentry), of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 hereof 3 which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Charges under Article 3 to be the same as were payable for the last twelve (12) calendar months, or if less than twelve (12) calendar months have then elapsed since the Commencement Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration date hereof if this lease had not so terminated or if Landlord had not so reentered the Premises, which date shall be the last day of the full term grantednext succeeding Extension Term if Tenant timely delivered an Extension Election Notice prior to the exercise by Landlord of its rights under Article 22 or 23, over (2ii) the aggregate fair market rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 hereof (if any) 3 which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration date hereof if this lease had not so terminated or if Landlord had not so reentered the Premises, which date shall be the last day of the full term hereby grantednext succeeding Extension Term if Tenant timely delivered an Extension Election Notice prior to the exercise by Landlord of its rights under Article 22 or 23; provided, however, that if Landlord (Landlordshall relet the Premises during said period, however, not being obligated to do so) shall re-let all or receive any part other income or consideration in connection with the use or occupancy of the premises for all Premises or any part otherwise deriving therefrom (including without limitation through the receipt of said periodinsurance or condemnation proceeds), Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting (or the net amounts of such other income or consideration), such net rents and other amounts to be determined by first deducting from the gross rents from such reletting (or the gross amounts of such other income or consideration) as and when received by Landlord from such re-letting the expenses, including attorneys fees, reasonable and actual expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering lease or in reentering the premises Premises and of in securing possession thereof, as well as the reasonable and actual expenses of re-lettingreletting (including, including without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees reasonable legal fees, and all other similar or dissimilar customary and reasonable expenses properly chargeable against the premises Premises and the rental therefrom in connection with therefrom) or of realizing such re-lettingother income or consideration, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term Term, which date shall be the last day of this Leasethe next succeeding Extension Term if Tenant timely delivered an Extension Election Notice prior to the exercise by Landlord of its rights under Article 22 or 23; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents or other amounts over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting or any net amounts of such other income or consideration, except to the extent that such net rents or other amounts are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the Term, or any part thereof, before presentation of this Article 18proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Premises, or part thereof, so relet during the term of the reletting, provided that such reletting shall constitute a bona-fide arm’s-length third party transaction. Notwithstanding anything to the contrary contained in this lease, Landlord shall not be liable in any way whatsoever for its failure to relet the Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such reletting, and no such failure to relet or failure to collect rent shall release or affect Tenant’s liability for damages or otherwise under this lease. If Landlord or any Affiliate of Landlord shall use or occupy the Premises or any portion thereof following the termination of this lease under the provisions of Article 22, the damages payable by Tenant under Article 24 hereof pursuant to paragraph (b) above shall be deemed to be an amount equal to reduced by the amount fair market rental value of the Premises or such portion thereof that is so occupied by Landlord or its Affiliate (or by the excess, if any, of such additional rent payable fair market rental value over the amounts, if any, actually paid by Tenant for the applicable period ending immediately preceding such termination of this Lease Landlord or such re-entryAffiliate in connection with such use or occupancy). 24.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof, or under any provision of law22, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this lease or reentry on the Premises for the default of Tenant under this lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01. Except as otherwise expressly set forth in this lease, Landlord shall not be liable to Tenant, and Tenant shall not be liable to Landlord, for indirect, consequential, special, punitive, exemplary, incidental or other like damages (including, without limitation, damages to Landlord for lost profits or opportunities, or the loss by foreclosure, deed in lieu, or otherwise, of all or any portion of Landlord’s interest in the Premises), even if arising from any act, omission or negligence of such party or from the breach by such party of its obligations under this lease. Subject to Section 9.04, the foregoing shall not limit the recovery of either party under an indemnity in respect of third party claims (excluding for the avoidance of doubts, claims of the respective parties Affiliates). 24.03. [Intentionally Omitted] 24.04. In addition, if this lease is terminated under the provisions of Article 22, or if Landlord shall reenter the Premises under the provisions of Article 23, Tenant agrees that: (a) the Premises then shall be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration of the term hereof; (b) Tenant shall have performed prior to any such termination any covenant of Tenant contained in this lease for the making of any Alterations or for restoring or rebuilding the Premises or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 24.04, Landlord shall be entitled immediately, without notice or other action by Landlord, to recover, and Tenant shall pay, as and for liquidated damages therefor, the cost of performing such covenant (as estimated by a reputable independent contractor selected by Landlord). 24.05. In addition to any other remedies Landlord may have under this lease, and without reducing or adversely affecting any of Landlord’s rights and remedies under Article 22, if any installment of Fixed Rent or of any Additional Charges payable hereunder by Tenant to Landlord is not paid (x) in the case of Fixed Rent, on or prior to the due date thereof, or (y) in the case of Additional Charges payable to Landlord within five (5) Business Days after the due date thereof, the same shall bear interest at the Interest Rate from the due date thereof until paid, and the amount of such interest shall be an Additional Charge hereunder; provided, that, if for the month in which there is an increase in Fixed Rent pursuant to Section 1.04(a), Tenant fails to pay the adjusted amount of Fixed Rent (but pays at least the amount of Fixed Rent for the immediately preceding month), interest under this Section 24.05 shall not accrue unless Tenant fails to pay the amount of such shortfall within seven (7) Business Days after receiving notice thereof from Landlord, and if Tenant fails to pay such shortfall within said seven (7) Business Day period, interest shall accrue only on the amount of such shortfall from the day Fixed Rent was first due and payable until the date such shortfall is paid. Landlord shall provide Tenant with notice of any failure of Tenant to pay Fixed Rent and/or Additional Charges; it being understood and agreed that the delivery of any such notice shall not be a condition to the imposition of interest pursuant to this Section 24.05. For the purposes of this Section 24.05, a rent ▇▇▇▇ sent by first class mail, to the address to which notices are to be given under this lease, shall be deemed a proper demand for the payment of the amounts set forth therein but no such demand shall be required as a condition to the payment thereof. To the extent that Tenant is required under this lease to make any payments directly to third parties on behalf of Landlord, Tenant shall be responsible for any late charges or interest imposed by such third parties in the event that Tenant does not make such payments in a timely manner.

Appears in 1 contract

Sources: Lease (Citigroup Inc)

Damages. In the event of any termination of 18.01. If this Lease is terminated under the provisions of Article 16 hereof hereof, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof hereof, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then present value of the excess, if any, of of (1) the aggregate of the fixed annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming that additional rent on account of increases in Taxes, and Operating Expense shall increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed annual rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, expenses paid or incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event or shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or reserved upon such re-entryletting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. 18.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01 hereof.

Appears in 1 contract

Sources: Lease Agreement (24/7 Media Inc)

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) : a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) or sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.

Appears in 1 contract

Sources: Lease Agreement

Damages. In the event of any termination of (a) If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the premises Premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (ai) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed annual rent and the additional rent under Article 24 hereof which payable hereunder that would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of increases in Taxes shall be presumed to increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so reentered the expiration of the full term grantedPremises, over over (2) the aggregate rental value of the premises Premises for the same period, period (each sum in subparagraphs (1) and (2) being first discounted to present value at the rate then being paid by new ten year U.S. Treasury Bonds); or (bii) sums equal to the aggregate of the fixed annual rent and the additional rent under Article 24 hereof (if anyas above presumed) which payable hereunder that would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commissioncommissions, attorneys' fees and disbursements, and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this LeaseTerm and that Landlord may grant concessions and free rent; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event or shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting re- letting, except to the extent that such net rents actually are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For Landlord in no event shall be liable in any way whatsoever for failure to re-let the purposes Premises nor shall such failure affect Tenant's liability for damages. (b) If the Premises or any part thereof shall be re-let by Landlord for the unexpired portion of subparagraph (a) the Term, or any part thereof, before presentation of this Article 18proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or reserved upon such re-entry. letting, prima facie, shall be the fair and reasonable rental value for the Premises, or part thereof, so re-let during the term of the re-letting. (c) Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered reentered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of TenantPremises.

Appears in 1 contract

Sources: Lease Agreement (Gt Interactive Software Corp)

Damages. In the event of any termination of 26.01. If this Lease is terminated under the provisions of Article 16 hereof 24, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 25, or in the event of the termination of this Lease (Lease, or of re-entry by or under any summary dispossess proceedings, ejectment or other proceeding or by any suitable action or any provision proceeding at law, or by agreement, or by force or otherwise, by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (aA) on demand, a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, excess of (1) the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof Additional Rent payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming Additional Rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedDemised Premises, over (2) the aggregate rental value (calculated as of the premises date of such termination or re-entry) of the Demised Premises for the same period, or (bB) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof Additional Rent (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable quarterly but otherwise upon the due dates terms therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all relet the Demised Premises or any part of the premises for all portion or any part of portions thereof during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises or any portion or portions thereof for new tenants, brokers' commissioncommissions, attorneys' fees advertising expenses, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) Term but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent rents received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the Term, or any part thereof, before presentation of this Article 18proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof reserved upon such reletting shall, prima facie, be the fair and reasonable rental value of the Demised Premises, or part thereof, so relet during the term of the reletting. Landlord, however, shall in no event and in no way be deemed responsible or liable for any failure to be an amount equal relet the Demised Premises or any part thereof or for failure to the amount of collect any rent due upon any such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryreletting. 26.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof24, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder or otherwise on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 26.01.

Appears in 1 contract

Sources: Lease (RSL Communications PLC)

Damages. In the event of any termination of 16.01. If this Lease is terminated under the provisions of Article 16 hereof 14, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 15, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of (1) the aggregate of the fixed annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming that additional rent on account of increases in Taxes, the Operating Expenses and Air-Conditioning Costs shall increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed three (3) years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate fair rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed annual rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event or shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or reserved upon such re-entryletting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the tern of the re-letting. 16.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof14, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 16.01. 16.03. In addition to all of Landlord's other remedies pursuant to this Lease or by operation of law, and notwithstanding any other provision of this Lease, Landlord shall also be entitled to recover the unrealized value of broker's and other fees paid by Landlord relating to this Lease and the value of "rent concessions", "tenant improvement concessions" and other concessions (as such quoted terms are hereinafter defined) incurred by Landlord in connection with leasing the demised premises to Tenant. For the purposes of this Section, the term "unrealized value of broker's and other fees paid by Landlord relating to this Lease" shall mean (a) the amount of all broker's and other fees paid by Landlord relating to this Lease, including, but not limited to, attorneys', architects', engineers' and similar fees and expenses incurred by Landlord in the negotiation and preparation of this Lease, (b) divided by the total number of years in the term of this Lease, and (c) such quotient shall then be multiplied by the number of years (including any partial year) which remained in the term when the Lease was terminated. The term "rent concessions" shall mean any free fixed annual rent allowance, if any, granted to Tenant, together with the amount, if any, by which the market rental for the demised premises for the period prior to the termination of the Lease exceeds the fixed annual rent actually paid by Tenant during the period prior to the termination of the Lease (unless otherwise specified in Article 1 hereof, such market rental for the demised premises will be deemed to be the pro forma rental used by Landlord as of the date of this Lease in making Landlord's financial projections). The term "tenant improvement concessions" shall mean the amount, if any, of the total cost of changes and tenant improvements made to the demised premises and paid for by Landlord.

Appears in 1 contract

Sources: Lease Agreement (Primus Guaranty LTD)

Damages. SECTION 14.01. In the event of any termination a Default Termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Lease, Tenant will pay to Landlord as damages, at the election of the Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, Default Termination represents the then value of the excess, if any, of the Present Value, as hereinafter defined, of (1) the aggregate of the fixed rent and the additional rent under Article 24 26 hereof (if any) which would have been paid payable hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the day following the date of any such re-entry, as the case may be, Default Termination and ending with the date hereinbefore set for the expiration of the full term hereby granted, over (2) the aggregate fair rental value of the premises for the same periodperiod as determined by an independent real estate appraiser named by Landlord and employed at Tenant's expense, in which case such liquidated damages shall be accelerated to be due and payable to Landlord in one lump sum on demand at any time commencing with the day following the date of such Default Termination and shall bear interest at the Default Rate, as hereinafter defined, until paid, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 26 hereof (if any) which would have been due and payable by Tenant during the remainder of the term had this Lease not so terminatedterminated by such Default Termination, or had Landlord not so re-entered in which case such liquidated damages shall be computed and payable in monthly installments, in advance, on the premises, payable upon first day of each calendar month following Default Termination of the due dates therefor specified herein following such termination or such re-entry Lease and continuing until the date hereinbefore set on which the term would have expired but for the expiration of the full term hereby grantedsuch Default Termination; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering the premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees commissions and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, further that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph clause (b) ), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such each suit, and (iii) if the premises or any part thereof should be re-let relet in combination with other space, then proper appropriate apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantreletting.

Appears in 1 contract

Sources: Lease (Econophone Inc)

Damages. In the event of any termination of 18.01 If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of discounted at a per annum rate equal to the Interest Rate, of (1) the aggregate of the fixed basic annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of Taxes and Property Expenses shall be presumed to increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed basic annual rent and the additional rent under Article 24 hereof (if any) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commission’ commissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) in . In no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderhereunder for the period of such re-letting, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or pursuant to such re-entry. letting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. 18.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01.

Appears in 1 contract

Sources: Office Lease (Arch Capital Group Ltd.)

Damages. In the event of any termination of Section 18.01. If this Lease under and the provisions of Demised Term shall expire and come to an end as provided in Article 16 hereof 16, or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or any other action or proceeding, or if Landlord shall reenter the Demised Premises as provided in Article 17, or by or under any provision summary proceeding or any other action or proceeding, then, in any of law), Tenant will pay to Landlord as damages, at the election of Landlord, eithersaid events: (a) a sum at which at the time of such termination of Tenant shall pay to Landlord all Base Rent, additional rent and other charges payable under this Lease by Tenant to Landlord on the date upon which this Lease and the Demised Term shall have expired and come to an end or at to the time date of any such re-entry upon the Demised Premises by Landlord, as the case may be; and (b) Tenant shall also be liable for and shall pay Landlord, represents as damages, any deficiency (referred to as “Deficiency”) between the then value Base Rent and additional rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the excessDemised Term (conclusively presuming the items of additional rent to be the same as were payable for the year immediately preceding such termination or re-entry) and the net amount, if any, of rents collected under any re-letting effected pursuant to the provisions of Section 17.01. for any part of such period (1) first deducting from the aggregate rents collected under the re-letting all of Landlord’s expenses in connection with the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease Lease, or the date of any such Landlord’s re-entryentry upon the Demised Premises and with re-letting the Demised Premises, including, but not limited to, all re-possession costs, brokerage commissions, legal expenses, attorneys’ fees, alteration costs, advertising costs, lease concessions and other expenses of re-letting and preparing the Demised Premises for re-letting [collectively, “Landlord’s Re-letting Expenses”]). Any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Base Rent. Landlord shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and (c) At any time after the Demised Term shall have expired and come to an end or Landlord shall have re-entered upon the Demised Premises, as the case may be, whether or not Landlord shall have collected any monthly Deficiencies as aforesaid, Landlord shall be entitled to recover from Tenant, and ending with Tenant shall pay to Landlord, on demand, as and for liquidated and agreed final damages, a sum equal to the date hereinbefore set amount by which the Base Rent and additional rent reserved in this Lease for the expiration period which otherwise would have constituted the unexpired portion of the full term granted, over (2) Demised Term exceeds the aggregate then fair and reasonable rental value of the premises Demised Premises for the same period, or both discounted to present worth at the rate of four (b4%) sums equal per cent per annum, together with Landlord’s Re-letting Expenses. If, before presentation of proof of such liquidated damages to any court, commission or tribunal, the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would Demised Premises, or any part thereof, shall have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all by Landlord for the period which otherwise would have constituted the unexpired portion of the Demised Term, or any part thereof, the amount of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from rent reserved upon such re-letting shall be deemed, prima facie, to be the expenses, including attorneys fees, incurred fair and reasonable rental value for the part or paid by Landlord in terminating this Lease and/or the whole of the Demised Premises so re-entering let during the premises and term of securing possession thereof, as well as the expenses of re-letting. Section 18.02. If the Demised Premises, including altering and preparing the premises for new tenantsor any part thereof, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such shall be re-lettinglet together with other space in the Building, it being understood that the rents collected or reserved under any such re-letting may be for a period equal to, less than or longer than and the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect expenses of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For shall be equitably apportioned for the purposes of subparagraph (a) of this Article 18. Tenant shall in no event be entitled to any rents collected or payable under any re-letting, whether or not such rents shall exceed the Base Rent reserved in this Lease. Solely for the purposes of this Article, the amount term “Base Rent” as used in Section 18.01. shall mean the Base Rent in effect immediately prior to the date upon which this Lease and the Demised Term shall have expired and come to an end, or the date of additional rent which would re-entry upon the Demised Premises by Landlord, as the case may be together with any increases in such Base Rent as may have been payable by Tenant under occurred during the unexpired portion of the Demised Term. Nothing contained in Articles 16, 17 or this Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease limit or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding preclude the recovery by Landlord against from Tenant of any sums or damages to which, which Landlord may be entitled in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantset forth in Section 18.01.

Appears in 1 contract

Sources: Lease Agreement (Majesco)

Damages. In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) Parent, the Stock Sellers and the Business Sellers shall indemnify and hold harmless the Purchaser and the Transferred Subsidiaries from and against any and all claims, losses, damages, Liabilities, costs and expenses (including reasonable attorneys’ fees, expenses and Taxes incurred by the Purchaser as a sum at which at the time result of such termination of this Lease indemnification) (collectively, “Damages”) actually suffered or at paid by the time of Purchaser or any such re-entry by Landlord, Transferred Subsidiary as the case may be, represents the then value a result of the excessbreach by such Parent, if any, Stock Seller or Business Seller of (1i) the aggregate any representation or warranty made by Parent for its own account or on behalf of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease Stock Sellers or the date of any such re-entry, as the case may beBusiness Sellers in this Agreement, and ending with the date hereinbefore set (ii) any covenant, undertaking or other agreement of Parent for the expiration its own account or on behalf of the full term grantedStock Sellers or the Business Sellers contained in this Agreement, over (2) it being agreed that each of Parent’s, the aggregate rental value of the premises Stock Seller’s or Business Sellers’ liability for the same period, orsuch breach shall be determined as set forth in Section 11.2. (b) sums equal The Purchaser hereby agrees to indemnify and hold harmless Parent, the aggregate of the fixed rent Stock Sellers and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents Business Sellers against Damages actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred suffered or paid by Landlord in terminating this Lease and/or such Parent, such Stock Seller or such Business Seller as a result of re-entering the premises and breach by the Purchaser of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) any representation or warranty made by the Purchaser in no event this Agreement and (ii) any covenant, undertaking or other agreement of the Purchaser contained in this Agreement. (c) Except as otherwise expressly provided in this Agreement, the indemnification provided for in this Article IX shall Tenant be entitled constitute the sole remedy of any party to receive the Agreement with respect to (i) breaches by any excess other party to this Agreement or such net rents over any of the sums payable by Tenant to Landlord hereunderrepresentations, warranties, agreements or covenants contained in this Agreement or any Local Agreement, (ii) any events, circumstances or conditions which are the subject of the representations, warranties, covenants or agreements contained in no event shall Tenant be entitled in this Agreement or any suit for Local Agreement, (iii) any other matters related to the collection transactions contemplated by this Agreement or any Local Agreement, and (iv) any other events, circumstances or conditions relating to the ownership or operation of damages pursuant the Transferred Subsidiaries, the Transferred Assets and the Assumed Liabilities, prior to this subparagraph the Closing Date. (bd) to a credit in respect of any net rents from a re-letting except to To the extent that such net rents are actually received by Landlord prior to the commencement of such suitParent, and (iii) if the premises any Stock Seller or any part thereof should be re-let in combination with other spaceBusiness Seller discharges any claim for indemnification hereunder, then proper apportionment on a square foot area basis Parent, such Stock Seller or such Business Seller shall be made subrogated, if legally possible, to all related rights of the rent received from such re-letting and Purchaser against third parties. To the extent that the Purchaser discharges any claim for indemnification hereunder, the Purchaser shall be subrogated, if legally possible, to all related rights of the expenses of re-letting. For the purposes of subparagraph Parent, any Stock Seller or any Business Seller against third parties. (ae) of Each party seeking indemnification under this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof IX (an “Indemnified Party”) shall be deemed obligated in connection with any claim for indemnification under this Article IX to be an amount equal use its reasonable best efforts to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, mitigate Damages upon and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant after becoming aware of any sums or damages event which could reasonably be expected to which, in addition give rise to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantsuch Damages.

Appears in 1 contract

Sources: Sale and Purchase Agreement (Newell Rubbermaid Inc)

Damages. In the event of any termination of 27.01 If this Lease lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 26, or in the event of the termination of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant which continues after notice and the expiration of any applicable cure period, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry by Landlord, as the case may be, represents the then present value of the excess, if any, discounted at the rate of six (16%) percent per annum, of: (i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, over Demised Premises; over (2ii) the aggregate rental value of the premises Demised Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of lease or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis (for equivalent space) shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entry. the reletting. 27.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease lease would have expired if it had not been so terminated under the provisions of Article 16 hereof25, or under any 72 76 provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant, but subject to Section 27.01, neither party shall be entitled to consequential damages under this lease. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this lease or re-entry on the Demised Premises for the default of Tenant under this lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 27.01, but subject to Section 27.01, neither party shall be entitled to consequential damages under this lease.

Appears in 1 contract

Sources: Lease Agreement (Bolt Inc)

Damages. In the event of any termination of 27.01 If this Lease lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 26, or in the event of the termination of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of: (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, over Demised Premises; over (2) the aggregate rental value of the premises Demised Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of lease or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord. If the Demised Premises shall be relet for a period shorter than the remaining term of this Lease and Landlord prior shall actually receive during such period, net rents in excess of the sums payable by Tenant to Landlord under this Lease during such period, then Landlord shall credit the commencement amount of such suit, and (iii) if excess against the premises sums payable by Tenant under this Lease during such subsequent periods for which the Demised Premises are not so relet. If the Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis (for equivalent space) shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, in the case of an unaffiliated, bona fide third party only, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entry. the reletting. 27.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease lease would have expired if it had not been so terminated under the provisions of Article 16 hereof25, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided pro- vided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this lease or re-entry on the Demised Premises for the default of Tenant under this lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 27.01.

Appears in 1 contract

Sources: Lease Agreement (Hearst Argyle Television Inc)

Damages. In the event of any termination of If this Lease is terminated under the provisions of Article 16 hereof Section 6.03, or in the event that if Landlord shall re-enter enters the premises Premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Section 6.04, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then present value (using a discount rate of 6%)) of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant Fixed Rent which, had this Lease not so terminated, would have been payable hereunder by Tenant for the period commencing with such earlier termination of this Lease or on the day following the date of any such termination or re-entry, as entry to and including the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date over (2) the aggregate fair rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which Rent that would have been payable by Tenant through and including the Expiration Date had this Lease not so terminated, terminated or had Landlord not so re-entered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedin this Lease; provided, however, that if Landlord shall re let (Landlord, however, not being obligated without obligation to do so) shall re-let all or any part of the premises Premises for all or any part of said periodthe period commencing on the day following the date of such termination or re-entry to and including the Expiration Date or collect any rent from Tenant’s subtenants or licensees, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting and/or collection, such net reletting rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expensesactual, including attorneys fees, reasonable expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering the premises Premises and of securing possession thereof, as well as the actual expenses of re-lettingreletting in each case to the extent of the remainder of the Term, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Leasesaid period; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunderunder this Lease, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph (b) Section 6.05(b), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement disposition of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting and (iv) Landlord shall have no obligation to so relet the purposes of subparagraph Premises and Tenant hereby waives any right Tenant may have, at law or in equity, to require Landlord to so relet the Premises. (ac) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been terminated under the provisions of Article 16 hereof, but for such termination or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantentry.

Appears in 1 contract

Sources: Lease (Peloton Interactive, Inc.)

Damages. In the event of any termination of Section 19.01. If this Lease and the Demised Term shall expire and come to an end as provided in Article 17, or by or under the provisions of Article 16 hereof any summary proceeding or in the event that any other action or proceeding, or if Landlord shall re-enter the premises Demised Premises as provided in Article 18, or by or under any summary proceeding or any other action or proceeding, then, in any of said events: (a) Tenant shall pay to Landlord all Fixed Rent, additional rent and other charges payable under this Lease by Tenant to Landlord to the date upon which this Lease and the Demised Term shall have expired and come to an end or to the date of re-entry upon the Demised Premises by Landlord, as the case may be; and (b) Tenant shall also be liable for and shall pay to Landlord, as damages, any deficiency (referred to as "Deficiency") between the Fixed Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Demised Term and the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of Article 17 hereof or Section 18.01 for any part of such period (first deducting from the rents collected under any such reletting all of Landlord's reasonable expenses in the event of connection with the termination of this Lease or Landlord's re-entry upon the Demised Premises and with such reletting including, but not limited to, all reasonable repossession costs, brokerage commissions, legal expenses, attorneys' fees, alteration costs and other reasonable expenses of preparing the Demised Premises for such reletting, provided however that any such reletting expenses shall for purposes hereof be amortized on a straight line basis over the term of the applicable lease and Tenant shall not be responsible for any portion of such expenses properly allocable to the period after the date on which the Expiration Date had been scheduled to occur). Any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Fixed Rent. Landlord shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord's right to collect the Deficiency for any subsequent month by a similar proceeding (solely for the purposes of this subsection (b), the term "Fixed Rent" shall mean the Fixed Rent in effect immediately prior to the date upon which this Lease and the Demised Term shall have come to an end, or the date of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at upon the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry Demised Premises by Landlord, as the case may be, represents the then value of the excessadjusted, if anyfrom time to time, of (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the date of to reflect any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) increases which would have been payable by Tenant had pursuant to Article 23 if this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.terminated); and

Appears in 1 contract

Sources: Lease Agreement (Liberty Financial Companies Inc /Ma/)

Damages. In the event of any termination of 29.01. If this Lease is terminated under the provisions of Article 16 hereof 27, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 28, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay as Additional Charges to Landlord as a condition precedent to the dismissal of any summary dispossess or other proceeding or action for damages, at the election of Landlord, either: (a) a A sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then present value of the excess, if any, of (1) the aggregate amount of the fixed rent and the additional rent under Article 24 hereof Rent which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Rent to be the same as were the average monthly Additional Rent payable for the year, or if less than 365 days have then elapsed since the Commencement Date, the partial year, immediately preceding such termination or re-entry) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration Expiration Date discounted to present value by utilizing a discount rate of the full term granted, over six (26%) the aggregate rental value of the premises for the same period, percent per annum; or (b) sums Sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof (if any) Additional Charges which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-re- entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Demised Premises and of in securing possession thereof, as well as the expenses expense of re-lettingreletting, including including, without limitation, altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaseperiod ending on the Expiration Date; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph subdivision (b) to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord before presentation of subparagraph (a) proof of this Article 18such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant reserved upon such reletting shall, prima facia, be the fair and reasonable rental value for the Demised Premises, or part thereof, to relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Demised Premises or any part thereof, or if the Demised Premises or any part thereof are relet, for its failure to collect the rent under Article 24 hereof such reletting, and no such failure or refusal to relet or failure to collect the rent shall release or affect Tenant's liability for damages or otherwise under this Lease. Landlord shall be deemed under no obligation in reletting the Demised Premises to be an amount equal give priority to the amount of such additional rent payable by Tenant for leasing thereof over other vacant space in the applicable period ending immediately preceding such termination of this Lease or such re-entryBuilding. 29.02. Suit or suits for the recovery of any such damages, or any installments thereof, may be brought by Landlord at any time and from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been so terminated under the provisions of Article 16 hereof, 27 or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove and/or obtain as damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease an amount equal to the maximum amount permitted by any statute or rule of law in effect at the time when the governing proceedings have been initiated, whether or not such amount is greater than, equal to, or less than any of the sums referred to in Section 29.01. 29.03. In addition, if this Lease is terminated under the provisions of Article 27, or if Landlord shall re-enter the Demised Premises under the provisions of Article 28, Tenant covenants that: (a) the Demised Premises then shall be in the same condition as that in which Tenant has agreed to surrender the same to Landlord at the Expiration Date; (b) Tenant shall have performed prior to any such termination any obligation of Tenant contained in this Lease for the making of any alteration or for restoring or rebuilding the Demised Premises or the Building, or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 29.03, Landlord shall be entitled immediately without notice or other action by Landlord, to recover, and Tenant shall pay as and for liquidated damages therefor, the cost of performing such covenant (as estimated by an independent contractor selected by Landlord). 29.04. In addition to any other remedies Landlord may have under this Lease, and without reducing or adversely affecting any of Landlord's rights and remedies under this Article 29, if any Rent or damages payable hereunder by Tenant to Landlord are not paid within five (5) days after notice therefor, the same shall bear interest at the Late Payment Rate pursuant to Section 3.05 from the due date thereof until paid, and the amount(s) of such interest shall be Additional Charges hereunder. 29.05. In addition to any remedies which Landlord may have under this Lease, if there shall be a default hereunder by Tenant which shall not have been remedied within the applicable grace period, Landlord shall not be obligated to furnish to Tenant or the Demised Premises any HVAC services, or any building services; and the discontinuance of any one or more of such services shall be without liability by Landlord to Tenant and shall not reduce, diminish or otherwise affect any of Tenant's covenants and obligations under this Lease.

Appears in 1 contract

Sources: Lease Agreement (Access Integrated Technologies Inc)

Damages. In the event of any termination of 24.01. If this Lease lease is terminated under the provisions of Article 16 hereof 22, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 23, or in the event of the termination of this Lease (lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if anyany (assuming a discount at a rate per annum equal to the interest rate then applicable to United States Treasury Bonds having a term which most closely approximates the period commencing on the date that this lease is so terminated, or the date on which Landlord re-enters the Premises, as the case may be, and ending on the date on which this lease was scheduled to expire but for such termination or reentry), of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent under Article 24 hereof Net Taxes Additional Charges which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Net Taxes Additional Charges to be the same as were payable for the last twelve (12) calendar months, or if less than twelve (12) calendar months have then elapsed since the Commencement Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration of date hereof if this lease had not so terminated or if Landlord had not so reentered the full term grantedPremises, over (2ii) the aggregate fair market rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent under Article 24 hereof (if any) Net Taxes Additional Charges which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration of date hereof if this lease had not so terminated or if Landlord had not so reentered the full term hereby grantedPremises; provided, however, that if Landlord (Landlordshall relet the Premises during said period, however, not being obligated to do so) shall re-let all or receive any part other income or consideration in connection with the use or occupancy of the premises for all Premises or any part otherwise deriving therefrom (including without limitation through the receipt of said periodinsurance or condemnation proceeds), Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting (or the net amounts of such other income or consideration), such net rents and other amounts to be determined by first deducting from the gross rents from such reletting (or the gross amounts of such other income or consideration) as and when received by Landlord from such re-letting the expenses, including attorneys fees, reasonable and actual expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering lease or in reentering the premises Premises and of in securing possession thereof, as well as the reasonable and actual expenses of re-lettingreletting (including, including without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees reasonable legal fees, and all other similar or dissimilar customary and reasonable expenses properly chargeable against the premises Premises and the rental therefrom in connection with therefrom) or of realizing such re-lettingother income or consideration, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents or other amounts over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting or any net amounts of such other income or consideration, except to the extent that such net rents or other amounts are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Premises, or part thereof, so relet during the term of the reletting, provided that such reletting shall constitute a bona-fide arm’s-length third party transaction. Notwithstanding anything to the contrary contained in this lease, Landlord shall use reasonable efforts to relet the Premises, either in the name of Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions (that may include concessions and free rent periods) as Landlord may reasonably determine, provided, however, that Landlord shall not be liable in any way whatsoever for its failure to relet the Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such reletting, and no such failure to relet or failure to collect rent shall release or affect Tenant’s liability for damages or otherwise under this lease. If Landlord or any Affiliate of Landlord shall use or occupy the Premises or any portion thereof following the termination of this lease under the provisions of Article 22, the damages payable by Tenant under Article 24 hereof pursuant to paragraph (b) above shall be deemed to be an amount equal reduced by the fair market rental value of the Premises or such portion thereof that is so occupied by Landlord or its Affiliate (or by the excess, if any, of such fair market rental value over the amounts, if any, actually paid by Landlord or such Affiliate in connection with such use or occupancy). Notwithstanding anything to the amount contrary contained herein, Landlord shall not commence any action for, nor require Tenant to pay damages calculated in accordance with the provisions of such additional rent payable by Tenant for paragraph (a) above prior to the applicable period ending immediately preceding such termination date upon which any rights of this Lease or such re-entryany Leasehold Mortgagee pursuant to Article 43 (if applicable) to cure Tenant’s default and to request and receive a new lease have expired. 24.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease lease would have expired if it had not been so terminated under the provisions of Article 16 hereof, or under any provision of law22, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this lease or reentry on the Premises for the default of Tenant under this lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01. Notwithstanding any provisions of this lease to the contrary, Landlord shall not be liable to Tenant, and Tenant shall not be liable to Landlord, for indirect, consequential, special, punitive, exemplary, incidental or other like damages (including, without limitation, damages to Landlord for lost profits or opportunities, or the loss by foreclosure, deed in lieu, or otherwise, of all or any portion of Landlord’s interest in the Premises), even if arising from any act, omission or negligence of such party or from the breach by such party of its obligations under this lease.

Appears in 1 contract

Sources: Lease Agreement (Citigroup Inc)

Damages. In the event of any a termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Lease, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then present value (employing a discount rate equal to the then current rate of United States Treasury Bills or Notes, as applicable, maturing on the Expiration Date or the next maturity date for such bills or notes occurring after the Expiration Date) of the excess, if any, any of (1i) the aggregate of the fixed rent Base Rent and the additional rent under Article 24 hereof Additional Charges which would have been paid payable hereunder by Tenant Tenant, had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the day following the date of any such re-entry, as the case may be, termination and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date over (2ii) the aggregate fair rental value of the premises Premises for the same periodperiod (for the purposes of this subsection (a), the amount of Additional Charges which would have been payable by Tenant under Article 5 shall, for each calendar year ending after such termination, be deemed to be an amount equal to the amount of Tenant's Tax Payment payable by Tenant for the calendar year and Tax Year, immediately preceding the calendar year in which such termination shall occur), or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) Gross Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe period commencing on the day following the date of such termination and ending on the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of and re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than said period and that Landlord shall have no obligation to so relet the remaining term of this LeasePremises; provided, further, provided further that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph subsection (b) ), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suitLandlord, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryreletting. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired but for such termination. In addition to all remedies set forth in this Article 14 and anywhere else in this Lease, if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained Tenant shall be construed as limiting or precluding in default under this Lease beyond any applicable cure period, then Tenant shall be obligated to repay to Landlord the recovery by Landlord against Base Rent for which Tenant of any sums or damages was excused from paying pursuant to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of TenantSection 4.02 hereof.

Appears in 1 contract

Sources: Lease Agreement (Fidelity Holdings Inc)

Damages. 21.3.1 In the event of any termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law), or in the event that Landlord shall reenter the Premises under the provisions of this Lease, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent installments of Base Rent and the additional rent under Article 24 hereof Additional Rent (if any) which would have been paid payable hereunder by Tenant Tenant, had this Lease not so terminatedterminated or had Landlord not reentered the Premises, for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set forth initially for the expiration of the full term grantedof this Lease pursuant to Sections 1 and 2, over (2ii) the aggregate rental value of the premises Premises for the same period, period (the amounts of each of clauses (i) and (ii) being first discounted to present value at an annual rate of six (6%) percent); or (b) sums equal to the aggregate of the fixed rent installments of Base Rent and the additional rent under Article 24 hereof Additional Rent (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore Expiration Date originally set forth in this Lease for the expiration of the full term hereby grantedTerm; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or and of re-entering reentering the premises Premises and of securing possession thereof, including reasonable attorneys' fees and costs of removal and storage of Tenant's property, as well as the expenses of re-lettingreletting, including altering repairing, restoring and preparing improving the premises Premises for new tenants, brokers' commissioncommissions, advertising costs, reasonable attorneys' fees fees, and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than the remaining term of this Lease; provided, provided further, that (i1) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii2) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph Subdivision (b) to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii3) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting, or if relet for a period longer than the purposes of subparagraph (a) remaining Term of this Article 18Lease, the amount expenses of additional rent which would have been payable by Tenant under Article 24 hereof reletting shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder apportioned based on the part of Tenantrespective periods.

Appears in 1 contract

Sources: Lease Agreement (Signal Apparel Company Inc)

Damages. In the event of any a termination of this Lease under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof or in the event of the termination of this Lease (or of re-entry by or under any summary dispossess or other proceeding or action or any provision of law)Lease, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which which, at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may betermination, represents the then present value (employing a discount rate equal to the then current rate of United States Treasury Bills or Notes, as applicable, maturing on the Expiration Date or the next maturity date for such bills or notes occurring after the Expiration Date) of the excess, if any, any of (1i) the aggregate of the fixed rent Base Rent and the additional rent under Article 24 hereof Additional Rent which would have been paid payable hereunder by Tenant Tenant, had this Lease not so terminated, for the period commencing with such earlier termination of this Lease or the day following the date of any such re-entry, as the case may be, termination and ending with the date hereinbefore set for the expiration of the full term granted, Expiration Date over (2ii) the aggregate fair rental value of the premises Premises for the same periodperiod (for the purposes of this SUBSECTION (A), the amount of Additional Rent which would have been payable by Tenant under ARTICLE 5 shall, for each calendar year ending after such termination, be deemed to be an amount equal to the amount of Tenant's Operating Payment and Tenant's Tax Payment payable by Tenant for the calendar year and Tax Year, respectively, immediately preceding the calendar year in which such termination shall occur), or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) Gross Rent which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; providedExpiration Date, howeverPROVIDED, HOWEVER, that if Landlord (Landlord, however, not being obligated to do so) shall re-let relet all or any part of the premises Premises for all or any part of said periodthe period commencing on the day following the date of such termination and ending on the Expiration Date, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of and re-entering the premises Premises and of securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingreletting, it being understood that any such re-letting reletting may be for a period equal to, less than to or shorter or longer than said period and that Landlord shall have no obligation to so relet the remaining term of this LeasePremises; provided, further, and PROVIDED FURTHER that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled entitled, in any suit for the collection of damages pursuant to this subparagraph SUBSECTION (b) B), to a credit in respect of any net rents from a re-letting reletting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suitLandlord, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot rentable area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entryreletting. Suit or suits for the recovery of such damagesany damages payable hereunder by Tenant, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease Term would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantbut for such termination.

Appears in 1 contract

Sources: Lease Agreement (Magnetek Inc)

Damages. A. In the event of any termination of this Lease under the provisions of Article 16 hereof or 19 in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof 20 or in the event of the termination of this Lease (or of re-entry entry) by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (a) 1. a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then present value of the excess, using a discount rate of the prime interest rate set by Citibank, if any, of (1i) the aggregate of the fixed all rent and the additional rent under Article 24 hereof which would have been paid payable hereunder by Tenant had this Lease not so terminated, terminated for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term hereby granted, over (2ii) the aggregate rental value of all rent of the premises for the same period, period based upon the then local market rental value of the premises; or (b) 2. sums equal to the aggregate of the fixed all rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had has this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor therefore specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, reasonable expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the reasonable expenses of or re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees commissions and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than to or shorter or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph subsection (b2) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. . B. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit suite until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof19, or under any provision of law, or had the Landlord not re-entered the premises. . C. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder beyond any applicable notice and/or cure on the part of Tenant. D. In addition to the amounts set forth above, in the event of the non payment of any monies due pursuant to this Lease, whether the same be deemed rent or otherwise, after the expiration of any applicable grace period, Tenant shall pay to Landlord interest at a rate, which is the lesser of eighteen (18%) percent per annum or the maximum permitted pursuant to the laws of the state of New Jersey. It is expressly acknowledged and agreed between the parties that said default rate shall continue beyond entry of judgment until such time as such monies are paid. Additionally, Tenant shall reimburse Landlord for any costs and expenses, including reasonable attorneys' fees incurred in connection with the enforcement of Landlord's rights pursuant to the terms of this Lease.

Appears in 1 contract

Sources: Lease Agreement (Amedia Networks, Inc.)

Damages. In the event of any termination of 27.01 If this Lease lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 26, or in the event of the termination of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of of: (1) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, over Demised Premises; over (2) the aggregate rental value of the premises Demised Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of lease or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis (for equivalent space) shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent reserved upon such reletting shall, prima facie, be the fair and reasonable rental value for the Demised Premises, or part thereof, so relet during the term of the reletting. In the event that (i) Landlord shall terminate this lease or re-enter the Demised Premises as aforesaid and (ii) Landlord elects to collect damages as provided in Subsection (b) of this Section 27.01, then Landlord shall use reasonable efforts to relet the whole or any part or parts of the Demised Premises from time to time, either in the name of Landlord or otherwise, to such tenant or tenants, for such term or terms ending before, on or after the Expiration Date, at such rental or rentals and upon such other conditions, which would may include concessions and free rent periods, as Landlord, in its sole discretion, may determine; provided, however, that Landlord shall have been payable by Tenant under Article 24 hereof shall be deemed no obligation whatsoever to be an amount equal relet the Demised Premises or any part thereof prior to the amount letting of any other space in the Building or space in other Buildings owned by Landlord in Bergen County, New Jersey, and shall in no event be liable for failure to relet the Demised Premises or any part thereof, or, in the event of any such additional reletting, for failure to collect any rent payable by due upon any such reletting, and no such failure shall operate to relieve Tenant for the applicable period ending immediately preceding such termination of any liability under this Lease or otherwise affect any such re-entry. liability, and Landlord, at Landlord's option, may make such repairs, replacements, alterations, additions, improvements, decorations and other physical changes in and to the Demised Premises and pay such brokerage commissions and legal fees as Landlord, in its sole discretion, 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 any liability. 27.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease lease would have expired if it had not been so terminated under the provisions of Article 16 hereof25, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this lease or re-entry on the Demised Premises for the default of Tenant under this lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 27.01.

Appears in 1 contract

Sources: Lease (Philipp Brothers Chemicals Inc)

Damages. In the event of any termination of (a) If this Lease is terminated under the provisions of Article 16 hereof 12, or in the event that if Landlord shall re-enter the premises Leased Premises under the provisions of Article 17 hereof 12, or in the event of the termination of this Lease (Lease, or of re-entry by or under any summary dispossess proceedings, ejectment or other proceeding or by any suitable action or any provision proceeding at law, or by agreement, by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (ai) On demand, a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, excess (discounted to present value) of (1i) the aggregate of the fixed rent Annual Fixed Rent and the additional rent under Article 24 hereof Additional Rent payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming Additional Rent to be the same as was payable for the twelve (12) month period immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term grantedTerm, had this Lease not so terminated or had Landlord not so re-entered the Premises, over (2ii) the aggregate fair market rental value (calculated as of the premises date of such termination or re-entry) of the Premises for the same period, or (bii) sums Sums equal to the aggregate of the fixed rent Annual Fixed Rent and the additional rent under Article 24 hereof (if any) Additional Rent payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesLeased Premises (conclusively presuming Additional Rent to be the same as was payable for the twelve (12) month period immediately preceding such termination), payable monthly but otherwise upon the due dates terms therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedTerm; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all relet the Leased Premises or any part of the premises for all portion or any part of portions thereof during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such reletting. Such net rents to shall be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Leased Premises and of in securing possession thereof, as well as the reasonable expenses of re-lettingreletting, including altering and preparing the premises Leased Premises or any portion or portions thereof for new tenants, brokers' commission’ commissions, advertising expenses, reasonable attorneys' fees ’ fees, concessions of free rent as reasonably determined by Landlord, and all other similar or dissimilar expenses properly chargeable against the premises Leased Premises and the rental therefrom in connection with such re-letting, it being therefrom. It is understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term Term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Section 13.1 to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord. Landlord prior shall use commercially reasonable efforts to relet the commencement of such suitLeased Premises, and (iii) if in so doing, Landlord may take into consideration all factors which a Landlord similarly situated could take into consideration including, without limitation, tenant mix and the premises proposed tenant’s financial status. If the Leased Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For reletting. (b) If the purposes Leased Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the Term, or any part thereof, before presentation of this Article 18proof of such damages to any court, commission, or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount fair and reasonable rental value of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damagesLeased Premises, or any installments part thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when so relet during the term of this Lease would have expired if it had the reletting (unless such space is relet to any Party related to or affiliated with Landlord, in which event the rent shall not been terminated under be prima facie evidence of fair market rent). Landlord, however, shall in no event and in no way be responsible or liable for any failure to relet the provisions of Article 16 hereofLeased Premises or any part thereof or for failure to collect any rent due upon any such reletting, provided however that in all cases Landlord shall use reasonable efforts to relet the Leased Premises and to collect the rent. (c) Notwithstanding anything herein to the contrary, except with respect to claims for such damages made by third parties, Landlord and Tenant each waive any consequential, punitive, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenantspecial damages.

Appears in 1 contract

Sources: Lease Agreement (CarGurus, Inc.)

Damages. In the event of any termination of 18.01. If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, which remains uncured after notice and beyond the expiration of the applicable cure period, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value (i.e., discounted to present value using a discount rate equal to the Prime Rate at such time of reentry or termination) of the excess, if any, of PARK AVE ARMORY/NYLPC - LEASE PT II (1) the aggregate of the fixed annual rent (subject to the provisions of Section 18.02 hereof) and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of increases in Taxes and Operating Expenses shall be presumed to increase at the average of the annual rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate fair rental value of the demised premises for the same period, or (b) sums equal to the aggregate fixed annual rent (subject to the provisions of the fixed rent Section 18.02 hereof) and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting letting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord to an unrelated third party for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by reserved upon such re-letting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. 18.02. Notwithstanding anything to the contrary contained in Section 18.01 hereof, if this Lease is terminated or if Landlord shall re-enter the demised premises during the Permanent Rental Period, then Tenant under Article 24 hereof PARK AVE ARMORY/NYLPC - LEASE PT II shall be deemed pay to be an amount Landlord, immediately upon such termination or re-entry (and not in accordance with the schedule for payment of damages set forth in Section 18.01 hereof), the portion of the fixed annual rent equal to the amount Termination Fixed Rent as of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination date of this Lease or such re-entryentry or termination, subject to the provisions of subsection 41.14(b) hereof. 18.03. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as limiting or precluding the recovery by Landlord against Tenant of any sums or liquidated damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default hereunder on of Tenant under this Lease, an amount equal to the part maximum allowed by any statute or rule of Tenantlaw in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.01.

Appears in 1 contract

Sources: Lease Agreement (PPC Publishing Corp)

Damages. In the event of any termination of 24.01 If this Lease is terminated under the provisions of Article 16 hereof 22 hereof, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 23 hereof, or in the event of the termination of this Lease (Lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if anyany (assuming a discount at a rate per annum equal to the interest rate then applicable to 7-year Federal Treasury Bonds), of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Charges under Article 3 hereof to be the same as were payable for the last twelve (12) calendar months, or if less than twelve (12) calendar months have then elapsed since the Commencement Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration of date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term grantedPremises, over (2ii) the aggregate fair market rental value of the premises Premises for the same period, or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration of date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term hereby granted; Premises, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees reasonable legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting, except to the die extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such termination of reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant’s liability for damages or otherwise under this Lease or such re-entry. Lease. 24.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 22 hereof, or under any provision of law, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this Lease or reentry on the Premises for the default of Tenant under this Lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01 hereof. 24.03 In addition, if this Lease is terminated under the provisions of Article 22 hereof, or if Landlord shall reenter the Premises under the provisions of Article 23 hereof, Tenant agrees that: (a) the Premises then shall be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration of the term hereof; (b) Tenant shall have performed prior to any such termination any covenant of Tenant contained in this Lease for the making of any Alterations or for restoring or rebuilding the Premises or the Building, or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 24.03, Landlord shall be entitled immediately, without notice or other action by Landlord, to recover, and Tenant shall pay, as and for liquidated damages therefor, the cost of performing such covenant (as estimated by an independent contractor selected by Landlord). 24.04 In addition to any other remedies Landlord may have under this Lease, and without reducing or adversely affecting any of Landlord’s rights and remedies under Article 22, if any Fixed Rent, Additional Charges or damages payable hereunder by Tenant to Landlord are not paid within ten (10) days after the due date thereof, the same shall bear interest at the rate of one and one-half (1 1/2%) percent per month or the maximum rate permitted by law, whichever is less, from the due date thereof until paid, and the amount of such interest shall be an Additional Charge hereunder. For the purposes of this Section 24.04, a rent ▇▇▇▇ sent by first class mail, to the address to which notices are to be given under this Lease, shall be deemed a proper demand for the payment of the amounts set forth therein (but nothing contained herein shall be deemed to require Landlord to send any rent ▇▇▇▇ or otherwise make any demand for the payment of rent except in those cases, if any, explicitly provided for in this Lease).

Appears in 1 contract

Sources: Lease Agreement (Heidrick & Struggles International Inc)

Damages. In the event of any termination of (i) If this Lease and the Term shall expire and come to an end as provided in Article 25 or by or under the provisions of Article 16 hereof any summary proceeding or in the event that any other action or proceeding, or if Landlord shall re-enter the premises under the provisions of Article 17 hereof or Premises as provided in the event of the termination subsection A of this Lease (Article 22, or of re-entry by or under any summary dispossess or other proceeding or any other action or proceeding, then, in any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, eithersaid events: (a) a sum at Tenant shall pay to Landlord all Rent, Additional rent, ▇▇▇▇▇▇▇▇’s mortgagee’s fees and charges and any other charges payable under this Lease by Tenant to Landlord to the date upon which at this Lease and the time Term shall have expired and come to an end or to the date of re-entry upon the Premises by Landlord, as the case may be; (b) Tenant also shall be liable for and shall pay to Landlord, as damages, any deficiency (referred to as “Deficiency”) between the Base Rent and Additional Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term and the net amount, if any, of rents collected under any reletting effected pursuant to the provisions of subsection A(i) of this Article 22 for any part of such period (first deducting from the rents collected under any such reletting all of Landlord’s expenses in connection with the termination of this Lease, or Landlord’s reentry upon the Premises and with such reletting including, but not limited to, all repossession costs, brokerage commissions, advertising, reasonable legal expenses, reasonable attorneys’ fees and disbursements, alteration costs and other expenses of preparing the Premises for such reletting); any such Deficiency shall be paid in monthly installments by Tenant on the days specified in this Lease for payment of installments of Rent, Landlord shall be entitled to recover from Tenant each monthly Deficiency as the same shall arise, and no suit to collect the amount of the Deficiency for any month shall prejudice Landlord’s right to collect the Deficiency for any subsequent month by a similar proceeding; and (c) whether or at not Landlord shall have collected any monthly Deficiencies as aforesaid, Landlord shall be entitled to recover from Tenant, and Tenant shall pay to Landlord, on demand, in lieu of any Deficiencies as and for liquidated and agreed final damages, a sum equal to the time amount by which the Rent reserved in this Lease for the period which otherwise would have constituted the unexpired portion of the Term exceeds the then fair and reasonable rental value of the Premises for the same period, less the aggregate amount of Deficiencies theretofore collected by Landlord for the same period; if, before presentation of proof of such liquidated damages to any court, commission or tribunal, the Premises, or any part thereof, shall have been relet by Landlord to an unrelated third-party for the period which otherwise would have constituted the unexpired portion of the Term, or any part thereof, the amount of rent reserved upon such reletting shall be deemed, prima facie, to be the fair and reasonable rental value for the part or the whole of the Premises so relet during the term of the reletting. (ii) If the Premises, or any part thereof, shall be relet, the rents collected or reserved under any such reletting and the expenses of any such reletting shall be equitably apportioned for the purposes of this subsection B. Tenant shall in no event be entitled to any rents collected or payable under any reletting, whether or not such rents shall exceed the Rent reserved in this Lease. Solely for the purposes of this Article, the term “Rent” as used in subsection B(i) of this Article 22 shall mean the Base Rent in effect immediately prior to the date upon which this Lease and the Term shall have expired and come to an end, or the date of re-entry upon the Premises by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed rent and the additional rent under any Additional Rent. Nothing contained in Article 24 hereof which would have been paid hereunder by Tenant had this Lease not so terminated, for the period commencing with such earlier termination of this Lease 21 or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term granted, over (2) the aggregate rental value of the premises for the same period, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises for new tenants, brokers' commission, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof 22 shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease limit or such re-entry. Suit or suits for preclude the recovery of such damages, or any installments thereof, may be brought by Landlord from time Tenant of the maximum amount allowed to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, obtained as damages by any statute or under any provision rule of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, which Landlord may be entitled in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason set forth in subsection B(i) of any default hereunder on the part of Tenantthis Article 22.

Appears in 1 contract

Sources: Lease Agreement

Damages. In the event 24.01. If this Lease is terminated (after notice and expiration of any termination of this Lease applicable grace period) under the provisions of Article 16 hereof or in the event that Landlord shall re-enter the premises under the provisions of Article 17 hereof 22 hereof, or in the event of the termination of this Lease (Lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Charges under Article 3 hereof to be the same as were payable for the last 12 calendar months, or if less than 12 calendar months have then elapsed since the Effective Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration of Expiration Date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term grantedPremises, over (2ii) the aggregate rental value of the premises Premises for the same period, less any amounts allocable to a period following such termination of this Lease or the date of Landlord’s reentry, as the case may be, which may theretofore have been collected pursuant to subsection 24.0 1(b), or (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration of Expiration Date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term hereby granted; Premises, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commission’ commissions, attorneys' fees legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Premises, or part thereof, so relet during the term of this Lease or such re-entrythe reletting. 24.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 22 hereof, or under any provision of law, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder Tenant’s failure to comply with its obligations under this Lease. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as damages by reason of the termination of this Lease or reentry on the part Premises for Tenant’s failure to comply with its obligations under this Lease an amount equal to the maximum allowed by any statute or rule of Tenantlaw in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01 hereof. 24.03. In addition, if this Lease is terminated under the provisions of Article 22 hereof, or if Landlord shall, reenter the Premises under the provisions of Article 23 hereof, Tenant agrees that the Premises then shall be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration of the term hereof. 24.04. In addition to any other remedies Landlord may have under this Lease, and without reducing or adversely affecting any of Landlord’s rights and remedies under Article 22 hereof, if any Fixed Rent, Additional Charges or damages payable hereunder by Tenant to Landlord are not paid within ten (10) days after the due date thereof, the same shall bear interest at the Interest Rate from the tenth (10th) day after the due date thereof until paid, and the amount of such interest shall be an Additional Charge hereunder.

Appears in 1 contract

Sources: Lease (Ambac Financial Group Inc)

Damages. In the event of any termination of 24.01. If this Lease is terminated under the provisions of Article 16 hereof 22 hereof, or in the event that if Landlord shall re-enter reenter the premises Premises under the provisions of Article 17 hereof 23 hereof, or in the event of the termination of this Lease (Lease, or of re-entry reentry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if anyany (assuming a discount at a rate per annum equal to 2% per annum in excess of the interest rate then applicable to Federal Treasury Bonds having a maturity closest to the Expiration Date), of (1i) the aggregate amount of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof which would have been paid hereunder payable by Tenant had this Lease not so terminated(conclusively presuming the average monthly Additional Charges under Article 3 hereof to be the same as were payable for the last 12 calendar months, or if less than 12 calendar months have then elapsed since the Commencement Date, all of the calendar months immediately preceding such termination or reentry) for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for contemplated as the expiration of date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term grantedPremises, over (2ii) the aggregate fair market rental value of the premises Premises for the same period, oror 106 (b) sums equal to the aggregate of the fixed rent Fixed Rent and the additional rent Additional Charges under Article 24 3 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesPremises, payable upon the due dates therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for contemplated as the expiration of date hereof if this Lease had not so terminated or if Landlord had not so reentered the full term hereby granted; Premises, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Premises during said period, Landlord shall credit Tenant Tenant, with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of re-entering or in reentering the premises Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including including, without limitation, altering and preparing the premises Premises for new tenants, brokers' commissioncommissions, attorneys' fees reasonable legal fees, and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-lettingtherefrom, it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subdivision to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made relet by Landlord for the unexpired portion of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding Premises, or part thereof, so relet during the term of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises or any part thereof, or if the Premises or any part thereof are relet, for its failure to collect the rent under such termination of reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect Tenant's liability for damages or otherwise under this Lease or such re-entryLease. 24.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 22 hereof, or under any provision of law, or had the Landlord not re-entered reentered the premisesPremises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant Tenant, of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant; provided, however, that Tenant shall not be liable for any consequential damages. Nothing herein contained shall be construed to limit or prejudice the 107 right of Landlord to prove for and obtain as damages by reason of the termination of this Lease or reentry on the Premises for the default of Tenant under this Lease an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater than any of the sums referred to in Section 24.01 hereof. 24.03. In addition, if this Lease is terminated under the provisions of Article 22 hereof, or if Landlord shall, reenter the Premises under the provisions of Article 23 hereof, Tenant agrees that: (a) the Premises then shall be in the condition in which Tenant has agreed to surrender the same to Landlord at the expiration of the term hereof; (b) Tenant shall have performed prior to any such termination any covenant of Tenant contained in this Lease for the making of any Alterations or for restoring or rebuilding the Premises or any part thereof; and (c) for the breach of any covenant of Tenant set forth above in this Section 24.03, Landlord shall be entitled immediately, without notice or other action by Landlord, to recover, and Tenant shall pay, as and for liquidated damages therefor, the cost of performing such covenant (as estimated by an independent contractor selected by Landlord). 24.04. In addition to any other remedies Landlord may have under this Lease, and without reducing or adversely affecting any of Landlord's rights and remedies under Article 22, if any Fixed Rent, Additional Charges or damages payable hereunder by Tenant to Landlord are not paid within seven (7) days after the due date thereof, the same shall bear interest at the Interest Rate from the due date thereof until paid, and the amount of such interest shall be an Additional Charge hereunder. For the purposes of this Section 24.04, a rent ▇▇▇▇ sent by first class mail, to the address to which notices are to be given under this Lease, shall be deemed a proper demand for the payment of the amounts set forth therein.

Appears in 1 contract

Sources: Lease Agreement (Corporate Property Associates 15 Inc)

Damages. In the event of any termination of 18.01 If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then present value of the excess, excess (discounted using the same rate as U.S. Treasury Securities with a term equivalent to the period of time between the date of termination of the Lease and the date the Lease was originally scheduled to expire absent such termination) if any, of of (1) the aggregate of the fixed annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of increases in Taxes and the Wage Rate shall be presumed to increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed 3 years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over over (2) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed annual rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting letting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than or longer than the remaining term of this Lease; provided, further, that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii) if the premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.rental

Appears in 1 contract

Sources: Lease Agreement (THCG Inc)

Damages. In the event of any termination of 27.01 If this Lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter reenter the premises Demised Premises under the provisions of Article 17 hereof 26 or in the event of the termination of this Lease (Lease, or of re-entry reentry by or under any summary dispossess proceedings, ejectment or other proceeding or by any suitable action or any provision proceeding at law, or by agreement, or by force or otherwise, by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) on demand, a sum at which at the time of such termination of this Lease or at the time of any such re-entry reentry by Landlord, as the case may be, represents the then value of the excess, if any, excess of (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entryreentry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so reentered the expiration of the full term grantedDemised Premises, over (2ii) the aggregate rental value (calculated as of the premises date of such termination or reentry) of the Demised Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered reentered the premisesDemised Premises, payable quarterly, in advance, but otherwise upon the due dates terms therefor specified herein following such termination or such re-entry reentry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all relet the Demised Premises or any part of the premises for all portion or any part of portions thereof during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this the Lease and/or of re-entering or in reentering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises or any portion or portions thereof for new tenants, brokers' commissioncommissions, attorneys' fees advertising expenses, and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-letting. For the purposes of subparagraph (a) of this Article 18, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its electionreletting, and nothing contained herein Landlord shall be deemed have the right to require Landlord grant reasonable rent concessions to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof, attract one or under any provision of law, or had the Landlord not re-entered the premises. Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.more now tenants and

Appears in 1 contract

Sources: Lease (At Plan Inc)

Damages. In the event of any termination of 18.1 If this Lease is terminated under the provisions of Article 16 hereof 16, or in the event that if Landlord shall re-enter the demised premises under the provisions of Article 17 hereof 17, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision by reason of law)default hereunder on the part of Tenant, Tenant will shall pay to Landlord landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the present value (which present value shall be calculated at a discount rate equal to the then value legal rate of interest on judgments in New York State) of the excess, if any, of of (1i) the aggregate of the fixed annual rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination except that additional rent on account of increases in Taxes and Expenses shall be presumed to increase at the average of the rates of increase thereof previously experienced by Landlord during the period (not so terminated, to exceed three (3) years) prior to such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term granteddemised premises, over 46 (2ii) the aggregate rental value of the demised premises for the same period, or (b) sums equal to the aggregate of the fixed annual rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the demised premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby grantedExpiration Date; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the demised premises for all or any part of during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting letting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the demised premises and of in securing possession thereof, as well as the expenses of re-letting, including altering and preparing the demised premises for new tenants, brokers' commission, attorneys' fees commissions and all other similar or dissimilar expenses properly chargeable against the demised premises and the rental therefrom in connection with such re-letting, thereof; it being understood that any such re-letting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) subsection to a credit in respect of any net rents from a re-letting letting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the demised premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. For If the purposes demised premises or any part thereof be re-let by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall be deemed to be an amount equal to the amount of such additional rent payable by Tenant for the applicable period ending immediately preceding such termination of this Lease or reserved upon such re-entry. letting shall, prima facie, be the fair and reasonable rental value for the demised premises, or part thereof, so re-let during the term of the re-letting. 18.2 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof16, or under any provision of law, or had the Landlord not re-entered the demised premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of 47 any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this Lease or re-entry of the demised premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 18.1.

Appears in 1 contract

Sources: Lease Agreement (Interliant Inc)

Damages. In the event of any termination of 26.01. If this Lease is terminated under the provisions of Article 16 hereof 24, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 25, or in the event of the termination of this Lease (Lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or of any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a A sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this Lease not so terminated or had Landlord not so re-entered the expiration of the full term grantedDemised Premises, over (2ii) the aggregate rental value of the premises Demised Premises for the same period, or (b) sums Sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting, the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Lease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof to be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18Lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entrythe reletting. 26.02. Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been so terminated under the provisions of Article 16 hereof24, or under any provision of law, or had the Landlord not re-entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to seek and obtain as liquidated damages by reason of the termination of this Lease or re-entry on the Demised Premises for the default of Tenant under this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 26.01. 26.03. In addition to the foregoing and without regard to whether this Lease is terminated and provided Landlord shall be the prevailing party, Tenant shall pay to Landlord upon demand, all costs and expenses incurred by Landlord, including reasonable attorney's fees, with respect to any lawsuit instituted or defended or any action taken by Landlord to enforce all or any of the provisions of this Lease.

Appears in 1 contract

Sources: Lease Agreement (Life Medical Sciences Inc)

Damages. (a) In the event of any termination of this Lease under the provisions of Article 16 hereof 19 or in the event that Landlord shall re-enter the premises Premises under the provisions of Article 17 hereof 20 or in the event of the termination of this Lease (or of re-entry entry) by or under any summary dispossess or other proceeding or action or any provision of law), Tenant will pay to Landlord as damages, at the election of Landlord, either: (ai) a sum at which at the time of such termination of this Lease or at the time of any such re-entry by Landlord, as the case may be, represents the then value of the excess, if any, of (1) the aggregate of the fixed all rent and the additional rent under Article 24 hereof which would have been paid payable hereunder by Tenant had this Lease not so terminated, terminated for the period commencing with such earlier termination of this Lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for the expiration of the full term hereby granted, over (2) the aggregate of all rent of the Premises for the same period based upon the then local market rental value of the premises for the same periodPremises, or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if any) which would have been payable by Tenant had this Lease not so terminated, or had Landlord not so re-entered the premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of the premises Premises for all or any part of said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-letting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting the expenses, including attorneys fees, incurred or paid by Landlord in terminating this Lease and/or of re-entering the premises and of securing possession thereof, as well as the expenses of re-letting, including altering and preparing the premises Premises for new tenants, brokers' commission, attorneys' fees ’ commissions and all other similar or dissimilar expenses properly chargeable against the premises Premises and the rental therefrom in connection with such re-letting, it being understood that any such re-letting may be for a period equal to, less than to or shorter or longer than the remaining term of this Lease; provided, further, further that (i) in no event shall Tenant be entitled to receive any excess or such net rents over the sums payable by Tenant to Landlord hereunder, (ii1) in no event shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph subsection (b2) to a credit in respect of any net rents from a re-letting except to the extent that such net rents are actually received by Landlord prior to the commencement of such suit, and (iii3) if the premises Premises or any part thereof should be re-let in combination with other space, then proper apportionment on a square foot square-foot-area basis shall be made of the rent received from such re-letting and of the expenses of re-letting. . (b) For the purposes purpose of subparagraph (a) of this Article 1821, the amount of additional fixed rent which would have been payable by Tenant under Article 24 4 hereof for each lease year and/or tax year (as those terms are herein defined) ending after such termination of this Lease or such re-entry shall be deemed to be an amount equal to the amount of such additional fixed rent payable by Tenant for the applicable period lease year and/or tax year (as the case may be) ending immediately preceding such termination of this Lease or such re-entry. Suit or suits for the recovery of such damages, or any installments thereof, : may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease would have expired if it had not been terminated under the provisions of Article 16 hereof19, or under any provision of law, or had the Landlord not re-entered the premises. Premises. (c) Nothing herein contained shall be construed as limiting or precluding the recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant.

Appears in 1 contract

Sources: Lease Agreement (Tangoe Inc)

Damages. In the event of any termination of 27.01 If this Lease lease is terminated under the provisions of Article 16 hereof 25, or in the event that if Landlord shall re-enter the premises Demised Premises under the provisions of Article 17 hereof 26, or in the event of the termination of this Lease (lease, or of re-entry entry, by or under any summary dispossess or other proceeding or action or any provision of law)law by reason of default hereunder on the part of Tenant, Tenant will shall pay to Landlord as damages, at the election of Landlord, either: (a) a sum at which at the time of such termination of this Lease lease or at the time of any such re-entry by Landlord, as the case may be, represents the then present value of the excess, if any, discounted at the rate of six (16%) percent per annum, of: (i) the aggregate of the fixed rent and the additional rent under Article 24 hereof payable hereunder which would have been paid hereunder payable by Tenant had this Lease not so terminated, (conclusively presuming the additional rent to be the same as was payable for the year immediately preceding such termination) for the period commencing with such earlier termination of this Lease lease or the date of any such re-entry, as the case may be, and ending with the date hereinbefore set for Expiration Date, had this lease not so terminated or had Landlord not so re-entered the expiration of the full term granted, over Demised Premises; over (2ii) the aggregate rental value of the premises Demised Premises for the same period, ; or (b) sums equal to the aggregate of the fixed rent and the additional rent under Article 24 hereof (if anyas above presumed) payable hereunder which would have been payable by Tenant had this Lease lease not so terminated, or had Landlord not so re-entered the premisesDemised Premises, payable upon the due dates therefor specified herein following such termination or such re-entry and until the date hereinbefore set for the expiration of the full term hereby granted; Expiration Date, provided, however, that if Landlord (Landlord, however, not being obligated to do so) shall re-let all or any part of relet the premises for all or any part of Demised Premises during said period, Landlord shall credit Tenant with the net rents actually received by Landlord from such re-lettingreletting, such net rents to be determined by first deducting from the gross rents as and when received by Landlord from such re-letting reletting the expenses, including attorneys fees, expenses incurred or paid by Landlord in terminating this Lease and/or of lease or in re-entering the premises Demised Premises and of in securing possession thereof, as well as the expenses of re-lettingreletting, including altering and preparing the premises Demised Premises for new tenants, brokers' commissioncommissions, attorneys' fees and all other similar or dissimilar expenses properly chargeable against the premises Demised Premises and the rental therefrom in connection with such re-letting, therefrom; it being understood that any such re-letting reletting may be for a period equal to, less than shorter or longer than the remaining term of this Leaselease; provided, further, that (i) but in no event shall Tenant be entitled to receive any excess or of such net rents over the sums payable by Tenant to Landlord hereunder, (ii) in no event nor shall Tenant be entitled in any suit for the collection of damages pursuant to this subparagraph (b) Subsection to a credit in respect of any net rents from a re-letting reletting, except to the extent that such net rents are actually received by Landlord prior to Landlord. If the commencement of such suit, and (iii) if the premises Demised Premises or any part thereof should be re-let relet in combination with other space, then proper apportionment on a square foot area basis (for equivalent space) shall be made of the rent received from such re-letting reletting and of the expenses of re-lettingreletting. For If the purposes Demised Premises or any part thereof be relet by Landlord for the unexpired portion of subparagraph (a) the term of this Article 18lease, or any part thereof, before presentation of proof of such damages to any court, commission or tribunal, the amount of additional rent which would have been payable by Tenant under Article 24 hereof shall reserved upon such reletting shall, prima facie, be deemed to be an amount equal to the amount of such additional rent payable by Tenant fair and reasonable rental value for the applicable period ending immediately preceding such termination Demised Premises, or part thereof, so relet during the term of this Lease or such re-entry. the reletting. 27.02 Suit or suits for the recovery of such damages, or any installments thereof, may be brought by Landlord from time to time at its election, and nothing contained herein shall be deemed to require Landlord to postpone suit until the date when the term of this Lease lease would have expired if it had not been so terminated under the provisions of Article 16 hereof25, or under any provision of law, or had the Landlord not re-re- entered the premisesDemised Premises. Nothing herein contained shall be construed as limiting to limit or precluding the preclude recovery by Landlord against Tenant of any sums or damages to which, in addition to the damages particularly provided above, Landlord may lawfully be entitled by reason of any default hereunder on the part of Tenant. Nothing herein contained shall be construed to limit or prejudice the right of Landlord to prove for and obtain as liquidated damages by reason of the termination of this lease or re-entry on the Demised Premises for the default of Tenant under this lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved whether or not such amount be greater, equal to, or less than any of the sums referred to in Section 27.01.

Appears in 1 contract

Sources: Lease (Atalanta Sosnoff Capital Corp /De/)