Common use of PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR Clause in Contracts

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail to promptly perform any of its obligations under the provisions of Sections 6, 7 and 8 of this Lease, Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default or Event of Default, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon (but in no event greater than the highest rate permitted by applicable law) until paid by Lessee to Lessor, shall be payable by Lessee upon demand as additional rent for the Equipment.

Appears in 2 contracts

Samples: Master Lease (CFP Holdings Inc), Master Lease (CFP Holdings Inc)

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PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to promptly perform any of its obligations under the provisions of Sections 3, 4, 5, 6, and 7 and 8 of this Lease, Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default or Event of Defaultdefault, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon (but in no event greater than the highest rate permitted by applicable relevant law) until paid by Lessee to Lessor, shall be payable by Lessee upon demand as additional rent for the Equipment.

Appears in 2 contracts

Samples: Master Lease Agreement (Meadow Valley Corp), Master Lease Agreement (Meadow Valley Corp)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail to duly and promptly perform any of its obligations under the provisions of Sections 6, 7 and 8 of this Lease, including, without limitation, any obligations which Lessee may have with respect to Site Leases, Lessor may, may at its option, immediately or at any time thereafter perform the same for the account of Lessee without thereby waiving such default or Event of Defaultdefault, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by Lessor in such performance, together with interest at the rate of 1 1/2% twelve percent (12%) per month thereon (annum thereon, but not in no event greater than excess of the highest rate amount permitted by any applicable law) , until paid by Lessee to Lessor, shall be payable by Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Lease Agreement (Murdock Communications Corp)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to promptly perform any of its obligations under the provisions of Sections 4, 5, 6, 7 7, and 8 of this Lease, . Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default or Event of Default, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon (but in no event greater than the highest rate permitted by applicable relevant law) until paid by Lessee to Lessor, shall be payable by Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Master Lease Agreement (Interactive Telesis Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to promptly perform any of its obligations under the provisions of Sections 4, 5, 6, 7 7, and 8 of this Lease, Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default or Event of Defaultdefault, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon (but in no event greater than the highest rate permitted by applicable relevant law) until paid by Lessee to Lessor, shall be payable by Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Master Lease (Brake Headquarters U S a Inc)

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PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to promptly perform any of its obligations under the provisions of Sections 6paragraphs 4, 7 5, and 8 6 of this Lease, the Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default or Event of Defaultdefault, and any amount paid or expense incurred (including reasonable attorneys' attorney's fees), penalty penalty, or other liability incurred by Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon (but in no event greater than the highest rate permitted by applicable law) until paid by the Lessee to the Lessor, shall be payable by the Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Sub Lease (Complete Wellness Centers Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to promptly perform any of its obligations under the provisions of Sections 64,5,6,7, 7 and 8 of this Lease, Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default or Event of Defaultdefault, and any amount paid or expense (including reasonable attorneys' attorney's fees), penalty or other liability incurred by Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon (but in no event greater than the highest rate permitted by applicable relevant law) until paid by Lessee to Lessor, shall be payable by Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Master Lease Agreement # Mmm0901 (Applied Data Communications Inc)

PERFORMANCE OF OBLIGATIONS OF LESSEE BY LESSOR. In the event that the Lessee shall fail duly and promptly to promptly perform any of its obligations under the provisions of Sections 63, 4, 5, 6 and 7 and 8 of this Lease, Lessor may, at its option, perform the same for the account of Lessee without thereby waiving such default or Event of Defaultdefault, and any amount paid or expense (including reasonable attorneys' fees), penalty or other liability incurred by Lessor in such performance, together with interest at the rate of 1 1/2% per month thereon (but in no event greater than the highest rate permitted by applicable relevant law) until paid by Lessee to Lessor, shall be payable by Lessee upon demand as additional rent for the Equipment.

Appears in 1 contract

Samples: Master Lease (Meadow Valley Corp)

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