Efforts to Relet. Unless Landlord provides Tenant with express notice to the contrary, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord shall (a) be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Except as required by Applicable Law, Landlord shall have no obligation to mitigate its damages. If Landlord is required by Applicable Laws to mitigate its damages under this Lease: (i) Landlord shall be required only to use reasonable efforts to mitigate; (ii) intentionally deleted; (iii) Landlord shall not be obligated to lease the Premises to a replacement tenant who does not, in Landlord’s good faith opinion, have sufficient financial resources to operate the Premises in a first-class manner and to fulfill all of the obligations in connection with the lease as and when the same become due; and (iv) any failure to mitigate as required herein with respect to any period of time shall only reduce the Rent and other amounts to which Landlord is entitled hereunder. Tenant hereby acknowledges and agrees that the value of the Property depends on the rental rates and terms of the Property leases, and Tenant further acknowledges and agrees that Landlord’s rejection of a prospective replacement tenant based on an offer of rentals below Landlord’s published rates for new leases of comparable space at the Building at the time in question, or at Landlord’s option, below the rates provided in this Lease, or containing terms less favorable than those contained herein, shall not give rise to a claim by Tenant that Landlord failed to mitigate its damages. Tenant hereby waives, for Tenant and for all those claiming by, through or under Tenant, the provisions of Section 3275 of the California Civil Code and Sections 1174(c) and 1179 of the California Code of Civil Procedure and any rights, now or hereafter existing, to redeem or reinstate, by order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination of this Lease.
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Samples: Lease Agreement (Sweetgreen, Inc.), Lease Agreement (Sweetgreen, Inc.)
Efforts to Relet. Unless Landlord provides Tenant with express notice to the contrary, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord shall (a) be construed as an election by Landlord to terminate this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Except as required by Applicable Law, Landlord shall have no obligation to mitigate its damages. If Landlord is required by Applicable Laws to mitigate its damages under this Lease: (i) Landlord shall be required only to use reasonable efforts to mitigaterelet the Leased Premises or any part thereof for such Rent and upon such terms as Landlord, in its sole discretion, shall determine (including the right to relet the Leased Premises for a greater or lesser term than that remaining under this Lease, the right to relet the Leased Premises as a part of a larger area, and the right to change the character or use of the Leased Premises). Landlord shall only be required to use the same efforts it then uses to lease other space or properties which it owns or manages; (ii) intentionally deleted; (iii) provided, however that Landlord shall not be obligated required to lease give any preference or priority to the showing or leasing of the Leased Premises over any other space that Landlord may be leasing or have available and may place a suitable prospective tenant in any such available space regardless of when such alternative space becomes available; provided, further, the Landlord shall not be required to observe any instruction given by Tenant about such reletting or accept any tenant offered by Tenant unless such offered tenant has a replacement tenant who does notbusiness reputation, managerial and operational skills, and credit worthiness acceptable to Landlord in Landlord’s good faith opinionits sole discretion, have sufficient financial resources leases the entire Leased Premises, agrees to operate use the Leased Premises in a first-class manner and to fulfill all of the obligations in connection consistent with the lease as Lease and when leases the Leased Premises at the same become due; Rent, for no more than the current Term and (iv) any failure to mitigate as required herein with respect to any period of time shall only reduce the Rent and other amounts to which Landlord is entitled hereunder. Tenant hereby acknowledges and agrees that the value of the Property depends on the rental rates same terms and terms of the Property leases, and Tenant further acknowledges and agrees that Landlord’s rejection of a prospective replacement tenant based on an offer of rentals below Landlord’s published rates for new leases of comparable space at the Building at the time in question, or at Landlord’s option, below the rates provided conditions as in this LeaseLease without any expenditure by Landlord for tenant improvements or broker's commissions. In any such case, or containing terms less favorable than those contained hereinLandlord may, but shall not give rise be required to, make repairs, alterations and additions in or to a claim by Tenant that the Leased Premises and redecorate the same to the extent Landlord failed to mitigate its damages. Tenant hereby waives, for Tenant and for all those claiming by, through deems necessary or under Tenant, the provisions of Section 3275 of the California Civil Code and Sections 1174(c) and 1179 of the California Code of Civil Procedure and any rights, now or hereafter existing, to redeem or reinstate, by order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination of this Leasedesirable.
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Samples: Office Lease Agreement
Efforts to Relet. Unless For the purposes of this Article 19, Tenant's right to possession shall not be deemed to have been terminated by efforts of Landlord provides Tenant to relet the Premises, by its acts of maintenance or preservation with express notice respect to the contraryPremises, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, or by appointment of a receiver or other action or omission to protect Landlord's interests hereunder. The foregoing enumeration is not exhaustive, but merely illustrative of acts which may be performed by Landlord shall (a) be construed as an election without terminating Tenant's right to possession. If Tenant abandons the Premises or if Landlord elects to reenter or takes possession of the Premises pursuant to any legal proceeding or pursuant to any notice provided by Requirements, and until Landlord elects to terminate this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Except as required by Applicable LawLease, Landlord may, from time to time, without terminating this Lease, recover all Rent as it becomes due pursuant to Section 19.2.3 and/or relet the Premises or any part thereof for the account of and on behalf of Tenant, on any terms, for any term (whether or not longer than the Term), and at any rental as Landlord in its reasonable discretion may deem advisable, and Landlord may make any improvement to the Premises in connection therewith. Tenant hereby irrevocably constitutes and appoints Landlord as its attorney-in-fact, which appointment shall have no obligation be deemed coupled with an interest and shall be irrevocable, for purposes of reletting the Premises pursuant to mitigate its damagesthe immediately preceding sentence. If Landlord is required elects to so relet the Premises on behalf of Tenant, then rentals received by Applicable Laws to mitigate its damages under this Lease: (i) Landlord from such reletting shall be required only to use reasonable efforts to mitigate; (ii) intentionally deleted; (iii) Landlord shall not be obligated to lease the Premises to a replacement tenant who does not, in Landlord’s good faith opinion, have sufficient financial resources to operate the Premises in a first-class manner and to fulfill all of the obligations in connection with the lease as and when the same become due; and (iv) any failure to mitigate as required herein with respect to any period of time shall only reduce the Rent and other amounts to which Landlord is entitled hereunder. Tenant hereby acknowledges and agrees that the value of the Property depends on the rental rates and terms of the Property leases, and Tenant further acknowledges and agrees that Landlord’s rejection of a prospective replacement tenant based on an offer of rentals below Landlord’s published rates for new leases of comparable space at the Building at the time in question, or at Landlord’s option, below the rates provided in this Lease, or containing terms less favorable than those contained herein, shall not give rise to a claim by Tenant that Landlord failed to mitigate its damages. Tenant hereby waives, for Tenant and for all those claiming by, through or under Tenant, the provisions of Section 3275 of the California Civil Code and Sections 1174(c) and 1179 of the California Code of Civil Procedure and any rights, now or hereafter existing, to redeem or reinstate, by order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination of this Lease.applied:
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Efforts to Relet. Unless For the purposes of this Article 19, Tenant's right ---------------- to possession shall not be deemed to have been terminated by efforts of Landlord provides Tenant to relet the Premises, by its acts of maintenance or preservation with express notice respect to the contraryPremises, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, or by appointment of a receiver or other action or omission to protect Landlord's interests hereunder. The foregoing enumeration is not exhaustive, but merely illustrative of acts which may be performed by Landlord without terminating Tenant's right to possession ARTICLE 20 ---------- SECURITY DEPOSIT ---------------- Concurrent with Tenant's execution of this Lease, Tenant shall deposit with Landlord a security deposit (athe "SECURITY DEPOSIT") in the amount set forth in Section 10 of the Summary. The Security Deposit shall be construed as an election held by Landlord to terminate as security for the faithful performance by Tenant of all the terms, covenants, and conditions of this Lease or Tenant’s right to possession, or to accept a surrender of be kept and performed by Tenant during the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Except as required by Applicable Law, Landlord shall have no obligation to mitigate its damagesLease Term. If Landlord is required by Applicable Laws to mitigate its damages under this Lease: (i) Landlord shall be required only to use reasonable efforts to mitigate; (ii) intentionally deleted; (iii) Landlord shall not be obligated to lease the Premises to a replacement tenant who does not, in Landlord’s good faith opinion, have sufficient financial resources to operate the Premises in a first-class manner and to fulfill all of the obligations in connection with the lease as and when the same become due; and (iv) any failure to mitigate as required herein Tenant defaults with respect to any period provisions of time this Lease, including, but not limited to, the provisions relating to the payment of Rent, Landlord may, but shall only reduce not be required to, use, apply or retain all or any part of the Security Deposit for the payment of any Rent or any other sum in default, or for the payment of any amount that Landlord may spend or become obligated to spend by reason of Tenant's default, or to compensate Landlord for any other loss or damage that Landlord may suffer by reason of Tenant's default. If any portion of the Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit cash with Landlord in an amount sufficient to restore the Security Deposit to its original amount, and other amounts Tenant's failure to which Landlord is do so shall be a default under this Lease. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, the Security Deposit, or any balance thereof, shall be returned to Tenant, or, at Landlord's option, to the last assignee of Tenant's interest hereunder, within thirty (30) days following the expiration of the Lease Term. Tenant shall not be entitled hereunderto any interest on the Security Deposit. Tenant hereby acknowledges and agrees that the value of the Property depends on the rental rates and terms of the Property leases, and Tenant further acknowledges and agrees that Landlord’s rejection of a prospective replacement tenant based on an offer of rentals below Landlord’s published rates for new leases of comparable space at the Building at the time in question, or at Landlord’s option, below the rates provided in this Lease, or containing terms less favorable than those contained herein, shall not give rise to a claim by Tenant that Landlord failed to mitigate its damages. Tenant hereby waives, for Tenant and for all those claiming by, through or under Tenant, waives the provisions of Section 3275 1950.7 of the California Civil Code Code, and Sections 1174(c) and 1179 all other provisions of the California Code of Civil Procedure and any rightslaw, now or hereafter existingin force, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of rent, to redeem repair damage caused by Tenant or reinstateto clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by order the act or judgment omission of Tenant or any court officer, employee, agent or by any legal process or writ, this Lease or invitee of Tenant’s right of occupancy of the Premises after any termination of this Lease.
Appears in 1 contract
Samples: Office Lease (Homestore Com Inc)
Efforts to Relet. Unless Landlord provides Tenant For the purposes of this Article XIX, Tenant’s right to possession will not be terminated by Landlord’s efforts to relet the Premises, by its acts of maintenance or preservation with express notice respect to the contraryPremises, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, or by the appointment of a receiver to protect Landlord’s interests. The foregoing enumeration is not exhaustive, but merely illustrative of acts that Landlord may perform without terminating Tenant’s right to possession. If Tenant’s right of possession (but not this Lease) is terminated by Landlord, Landlord will use commercially reasonable efforts to the extent required by applicable Legal Requirements that may not be waived (under applicable Legal Requirements) to relet the Premises on such terms and conditions as Landlord reasonably deems acceptable, and if the Premises are so relet, Tenant will receive credit against the sums otherwise payable to Landlord hereunder only for the amount of the Net Reletting Income. For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Premises as may be reasonably necessary or desirable. Landlord reserves the right, however (i) to refuse to lease all or portions of the Premises to any potential tenant that does not meet Landlord’s standards and criteria for leasing other action comparable space in the Building, and (ii) to reconfigure the Premises and lease only portions thereof or omission by lease all or part of the Premises in combination with other space. Tenant shall not be required to remove any alterations or additions Landlord shall (a) be construed as an election by makes on the authority of the foregoing. As used herein, “Net Reletting Income” means the amount of all rentals Landlord to terminate actually receives in respect of a reletting of the Premises during the period beginning on the date of the termination of this Lease or Tenant’s right to possession, or to accept a surrender possession of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Except as required by Applicable Law, Landlord shall have no obligation to mitigate its damages. If Landlord is required by Applicable Laws to mitigate its damages under this Lease: (i) Landlord shall be required only to use reasonable efforts to mitigate; (ii) intentionally deleted; (iii) Landlord shall not be obligated to lease the Premises to a replacement tenant who does not, in Landlord’s good faith opinion, have sufficient financial resources to operate the Premises in a first-class manner accordance with the terms of Section 19.2 and to fulfill ending on what would have been the Lease Termination Date, but for that termination, less all of the obligations costs and expenses Landlord reasonably incurs in connection with that reletting, including, without limitation, leasing commissions, the lease as cost associated with demolition of existing improvements and when installation of new improvements or the same become due; and (iv) any failure to mitigate as required herein with respect to any period of time shall only reduce the Rent and other amounts to which Landlord is entitled hereunder. Tenant hereby acknowledges and agrees that the value of the Property depends on the rental rates and terms of the Property leasesallowances provided prospective tenants for such demolition or installation, and Tenant further acknowledges and agrees that Landlord’s rejection of a prospective replacement tenant based on an offer of rentals below Landlord’s published rates for new leases of comparable space at the Building at the time in questionlegal fees. In no event, or at Landlord’s option, below the rates provided in this Lease, or containing terms less favorable than those contained hereinhowever, shall not give rise to a claim by Tenant that Landlord failed to mitigate its damages. Tenant hereby waives, for Tenant and for all those claiming by, through or under Tenant, the provisions of Section 3275 of the California Civil Code and Sections 1174(c) and 1179 of the California Code of Civil Procedure and any rights, now or hereafter existing, to redeem or reinstate, by order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination of this LeaseNet Reletting Income be less than zero.
Appears in 1 contract
