DEFAULT AND POSSESSION. In the event that the Lessee shall fail to pay said rent, and expenses as set forth herein, or any part thereof, when the same are due and payable, or shall otherwise be in default of any other terms of said Lease for a period of more than 15 days, after receiving notice of said default, then the parties hereto expressly agree and covenant that the Lessor may declare the Lease terminated and may immediately re-enter said Premises and take possession of the same together with any of Lessee’s personal property, equipment or fixtures left on the Premises which items may be held by the Lessor as security for the Lessee’s eventual payment and/or satisfaction of rental defaults or other defaults of Lessee under the Lease. It is further agreed, that if the Lessee is in default, that the Lessor shall be entitled to take any and all action to protect its interest in the personal property and equipment, to prevent the unauthorized removal of said property or equipment which threatened action would be deemed to constitute irreparable harm and injury to the Lessor in violation of its security interest in said items of personal property. Furthermore, in the event of default, the Lessor may expressly undertake all reasonable preparations and efforts to release the Premises including, but not limited to, the removal of all inventory, equipment or leasehold improvements of the Lessee’s, at the Lessee’s expense, without the need to first procure an order of any court to do so, although obligated in the interim to undertake reasonable steps and procedures to safeguard the value of Lessee’s property, including the storage of the same, under reasonable terms and conditions at Lessee’s expense, and, in addition, it is understood that the Lessor may xxx the Lessee for any damages or past rents due and owing and may undertake all and additional legal remedies then available. In the event any legal action has to be instituted to enforce any terms or provisions under this Lease, then the prevailing party in said action shall be entitled to recover a reasonable attorney's fee in addition to all costs of said action. Rent which is in default for more than days after due date shall accrue a payment penalty of one of the following: (Choose One) ☐ - Interest at a rate of percent ( %) per annum on a daily basis until the amount is paid in full. ☐ - Late fee of dollars ($ ) per day until the amount is paid in full. In this regard, all delinquent rental payments made shall be applied firs...
DEFAULT AND POSSESSION. If Rent is not paid within ____ days of the Due Date, the Rent shall be considered past due and a late fee of ☐ $_________ or ☐ ____ % of the Rent past due shall be applied for every ☐ day Rent is late or ☐ occurrence Rent is late. In the event that the Lessee fails to pay Rent on the Due date or is in default of any of the terms of this Lease, the Lessor shall promptly provide the Lessee with a notice of such default, informing the Lessee that failure to rectify the same within _____ days will terminate the Lease and allow the Lessor to recover the premises at the end of such period. Should the Lessee fail to rectify the same within _____ days after receiving such Notice of Default, the Lessor may terminate this Lease and recover the Premises from the Lessee. In such an event, the Lessor may hold the Lessee’s possessions found in the Premises as security until sums owed by the Lessee has been paid.
DEFAULT AND POSSESSION. If the Tenant fails to perform or observe any terms, covenants, or conditions under this Agreement, the Landlord shall deliver unto the Tenant a written notice to remedy said breach within days or the minimum number of days required by state or local law, whichever is more. If the Tenant fails to remedy the breach within the applicable number of days, the Landlord shall have the right to terminate this Agreement and seek any remedies available by law.
DEFAULT AND POSSESSION. In the event that the Lessee shall fail to pay said rent, and expenses as set forth herein, or any part thereof, when the same are due and payable, or shall otherwise be in default of any other terms of said Lease for a period of more than 15 days, after receiving notice of said default, then the parties hereto expressly agree and covenant that the Lessor may declare the Lease terminated and may immediately re-enter said premises and take possession of the same. In addition, it is understood that the Lessor may xxx the Lessee for any damages or past rents due and owing and may undertake all and additional legal remedies then available. In the event any legal action has to be instituted to enforce any terms or provisions under this Lease, then the prevailing party in said action shall be entitled to recover a reasonable attorney's fee in addition to all costs of said action. Rent which is in default for more than 14 days after due date shall accrue a payment penalty of two percent (2%) of the amount of the delinquent rental payment. In this regard, all delinquent rental payments made shall be applied first toward interest due and the remaining toward delinquent rental payments.
DEFAULT AND POSSESSION. In the event that the Lessee fails to make payment on the specified time, or any other expenses due and payable as set forth herein, after a written notice has been furnished, the Lessor shall have the right to terminate this Lease Agreement and may re-enter the premises immediately and take possession of the inventory, equipment, fixtures, and personal property of the Lessee as security for the unpaid rent and any other defaults committed under this Lease Agreement.
DEFAULT AND POSSESSION. If the Tenant doesn't pay rent or breaches other terms of the Agreement and fails to correct this within 15 days notice, the Landlord can terminate the Agreement. The Landlord can then re-enter the Premises, take possession, and hold any of the Tenant’s property on the Premises as security for unpaid rent or other defaults. The Landlord can also take steps to re-lease the Premises, at the Tenant's expense, and sue for damages or past due rent.
