Common use of Payment on Default Clause in Contracts

Payment on Default. The Lessor shall be entitled to recover from the Lessee, and the Lessee will pay to the Agent (on behalf of the Lessor) on demand, such amounts set forth below in lieu of all liquidated damages in respect of Fixed Rent beyond the date of such demand (but in addition to any claim for current damages in respect of Fixed Rent or Additional Rent and any other amounts due and payable to the Lessor hereunder (prior to the date of such demand)), at any time after termination of the Term of this Lease or re-entry