Common use of REMEDIES OF LESSOR Clause in Contracts

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 4 contracts

Samples: Master Lease Agreement (Flashnet Communications Inc), Master Lease Agreement (Flashnet Communications Inc), Master Lease Agreement (GTC Telecom Corp)

AutoNDA by SimpleDocs

REMEDIES OF LESSOR. At any time If default be made by Lessee in the payment of the rentals and royalties herein and such default shall continue for a period of fifteen (15) days after the occurrence of any Event of Defaultwritten notification thereof has been posted to Lessee, then in each such event, Lessor may exercise one or more of the following remedies: (a) Lessor may may, at its option, terminate this Lease without any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent further notice and other amounts then due re-enter upon and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the Leased Premises and hold and possess the same may as its absolute property free and clear of any claims of, by, or through Lessee, and pursue any and all other remedies available under the laws of the State of Illinois for violation of any covenant or condition hereof, and all such remedies shall be locateddeemed cumulative and not exclusive. If default be made by Lessee in the performance of any of the other terms or conditions hereof required to be kept or performed by Lessee and such default shall continue for a period of thirty (30) days after written notification thereof has been posted to Lessee, without demand or noticeand in the event that Lessee is not reasonably engaged in curing the said default, then in such event, Lessor may, at its option, terminate this Lease without any court order further notice and re-enter upon and take possession of the Leased Premises and hold and possess the same as its absolute property free and clear of any claims of, by or through Lessee, and pursue any and all other process remedies available under the laws of law the State of Illinois for violations of any covenant or condition hereof, and all such remedies shall be deemed cumulative and not exclusive. Lessee shall notify Lessor of its proposed cure actions and continue to keep Lessor informed on a regular basis of the actions taken and results thereof. No action by Lessor pursuant to this Section 7 shall impair the right to rental and royalties (including without liability limitation Tonnage Royalties and Quarterly Deficiency Payments) due or accrued up to Lessee the time of termination and re-entry hereunder, but none shall be charged for any damages occasioned by period thereafter. Provided, however, if Lessor, at any time, has provided notice of a Financing Cessation (as defined in the Purchase Agreement) then the cure periods set forth above shall be two hundred seventy (270) days from the date of such taking notice. In the event such Financing Cessation concludes prior to the end of possession, and any such taking 270-day cure period as a result of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item paying the applicable portion of the Equipment, Lessor shall sell, lease or otherwise dispose Purchase Price at an Applicable Closing which was delayed as a result of such item in a commercially reasonable mannerFinancing Cessation, with or without notice and on public or private bid, and apply then Lessee shall have the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, cure periods set forth in the case first two paragraphs of a this Section 7 to cure and correct any defaults that have occurred during the just concluded period of Financing Cessation. Lessee further agrees that if the interest of Lessee in the Leased Premises shall be sold on execution or judicial sale, or if bankruptcy proceedings be begun by Lessee, or if Lessee be adjudged a bankrupt, or it makes an assignment for the rents due benefit of creditors, or a receiver be appointed for any period beyond it or for the scheduled expiration Leased Premises, or if an assignment occurs by operation of such Leaselaw, in the case of any subsequent lease of such itemthen, and all expensesin any such event, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall forthwith terminate and be cumulativeforfeited and the Leased Premises and all improvements thereon shall forthwith become the property of Lessor, without compensation to Lessee, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor without refund of any item of Equipment shall not bar an action for a royalties or deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19payments paid hereunder.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Natural Resource Partners Lp), Mining Lease and Sublease Agreement (Foresight Energy Partners LP), Mining Lease and Sublease Agreement (Foresight Energy LP)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate If any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right after the expiration of the applicable Cure Period, lease or otherwise dispose at the option of Lessor, to terminate this Lease upon providing fifteen (15) days written notice if the default has not been cured by the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof fifteen (after deducting the estimated fair market value 15) day period. An Event of such item Default shall be deemed to have occurred at the expiration of the term of Cure Period if the applicable Lease, in default has not been cured by the case of a sale, or the rents due for any period beyond the scheduled expiration of such fifteen (15) day period. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Property, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the case rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Property, reasonable attorneys fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, at Lessor's option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Property in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any subsequent lease sums received by Lessor on a re-letting of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred said Property in connection therewith) towards excess of the Rent and other amounts due under such provided in this Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

REMEDIES OF LESSOR. At any time If default be made by Lessee in the payment of the rentals and royalties herein and such default shall continue for a period of fifteen (15) days after the occurrence of any Event of Defaultwritten notification thereof has been posted to Lessee, then in each such event, Lessor may exercise one or more of the following remedies: (a) Lessor may may, at its option, terminate this Lease without any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent further notice and other amounts then due re-enter upon and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the Leased Premises and hold and possess the same may as its absolute property free and clear of any claims of, by, or through Lessee, and pursue any and all other remedies available under the laws of the State of Illinois for violation of any covenant or condition hereof, and all such remedies shall be locateddeemed cumulative and not exclusive. If default be made by Lessee in the performance of any of the other terms or conditions hereof required to be kept of performed by Lessee and such default shall continue for a period of thirty (30) days after written notification thereof has been posted to Lessee, without demand or noticeand in the event that Lessee is not reasonably engaged in curing the said default, then in such event, Lessor may, at its option, terminate this Lease without any court order further notice and re-enter upon and take possession of the Leased Premises and hold and possess the same as its absolute property free and clear of any claims of, by or through Lessee, and pursue any and all other process remedies available under the laws of law the State of Illinois for violations of any covenant or condition hereof, and without liability all such remedies shall be deemed cumulative and not exclusive. Lessee shall notify Lessor of its proposed cure actions and continue to Lessee keep Lessor informed on a regular basis of the actions taken and results thereof. No action by Lessor pursuant to this Section 7 shall impair the right to rental and royalties due or accrued up to the time of termination and re-entry hereunder, but none shall be charged for any damages occasioned by such taking period thereafter. Lessee further agrees that if the interest of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a Leased Premises shall be sold on execution or judicial sale, or if bankruptcy proceedings be begun by Lessee, or if Lessee be adjudged a bankrupt, or it makes an assignment for the rents due benefit of creditors, or a receiver be appointed for any period beyond it or for the scheduled expiration Leased Premises, or if an assignment occurs by operation of such Leaselaw, in the case of any subsequent lease of such itemthen, and all expensesin any such event, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall forthwith terminate and be cumulativeforfeited and the Leased Premises and all improvements thereon shall forthwith become the property of Lessor, without compensation to Lessee, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor without refund of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19royalties paid hereunder.

Appears in 2 contracts

Samples: Mining Lease Agreement (Foresight Energy LP), Mining Lease Agreement (Foresight Energy Partners LP)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and any time thereafter, Lessor may may, without notice, exercise one or more of the following remedies, as Lessor, in its sole discretion shall elect: (a1) Lessor may declare all unpaid lease payments under the Lease to be immediately due and payable; (2) terminate any or all of the Leases with respect Lease as to any or all items of Equipment subject theretothe Equipment; (b3) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of the Equipment wherever found, and for this purpose enter upon any or all items premises of Lessee and remove the Equipment, wherever the same may be located, without demand or notice, without any court order liability for suit, action or other process of law and without liability to Lessee for any damages occasioned proceedings by such taking of possession, and any such taking of possession shall not constitute a termination of any LeaseLessee; (d4) Lessor may demand that direct Lessee return any or all items of at its expense to promptly prepare the Equipment to Lessor in accordance with Paragraph 16for pickup by Lessor; and (e5) Lessor may pursue any other remedy available at law or in equityuse, includinghold, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment or any item thereof on the site specified on the applicable Agreement or any other location without affecting the obligations of Lessee as provided in a commercially reasonable mannerthe Lease; (6) proceed by appropriate action either in law or in equity to enforce performance by Lessee of the terms of the Lease or to recover damages for the breach hereof; (7) apply the Security Deposit to payment of Lessor’s costs, with or without notice expenses and on public or private bidattorney fees in enforcing the terms of the Lease and to indemnify Lessor against any damages sustained by Lessor (provided, however, nothing herein shall be construed to mean that the recovery of damages by Lessor shall be limited to the amount of the Security Deposit); (8) exercise any and all rights accruing to Lessor under any applicable law upon an Event of Default. In addition, Lessor shall be entitled to recover immediately as damages, and apply not as a penalty, a sum equal to the net proceeds aggregate of the following: (i) all unpaid payments as are due and payable for any items of Equipment up to the date of repossession by Lessor; (ii) any expenses paid or incurred by Lessor in connection with the repossession, holding, repair and subsequent sale, lease or other disposition of the Equipment, including attorney’s fees and other reasonable costs and expenses; (iii) an amount equal to the excess of (a) all unpaid payments for any item of Equipment repossessed by Lessor from the date thereof (after deducting to the estimated fair market value of such item at the expiration end of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.over

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

REMEDIES OF LESSOR. At any Any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' attorney's fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by the Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 2 contracts

Samples: Master Lease Agreement (Bluestar Communications Group Inc), Master Lease Agreement (Bluestar Communications Group Inc)

REMEDIES OF LESSOR. At any time If default be made by Lessee in the payment of the rentals and royalties herein and such default shall continue for a period of 15 days after the occurrence of any Event of Defaultwritten notification thereof has been posted to Lessee, then in each such event, Lessor may exercise one or more of the following remedies: (a) Lessor may may, at its option, terminate this Lease without any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent further notice and other amounts then due re-enter upon and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the Leased Premises and hold and possess the same may as its absolute property free and dear of any claims of, by, or through Lessee, and pursue any and all other remedies available under the laws of State of Illinois for violation of any covenant or condition hereof, and all such remedies the shall be locateddeemed cumulative and not exclusive. If default be made by Lessee in the performance of any of the other terms or conditions hereof required to be kept of performed by Lessee and such default shall continue for a period of 30 days after written notification thereof has been posted to Lessee, without demand or noticeand in the event that Lessee is not reasonably engaged in curing the said default, then in such event, Lessor may, at its option, terminate this Lease without any court order further notice and re-enter upon and take possession of the Leased Premises and hold and possess the same as its absolute property free and clear of any claims of, by or through Lessee, and pursue any and all other process remedies available under the laws of law the State of Illinois for violations of any covenant or condition hereof, and without liability all such remedies shall be deemed cumulative and not exclusive. Lessee shall notify Lessor of its proposed cure actions and continue to Lessee keep Lessor informed on a regular basis of the actions taken and results thereof. No action by Lessor pursuant to this Section 7 shall impair the right to rental and royalties due or accrued up to the time of termination and reentry hereunder, but none shall be charged for any damages occasioned by such taking period thereafter. Lessee further agrees that if the interest of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a Leased Premises shall be sold on execution or judicial sale, or if bankruptcy proceedings be begun by Lessee, or if Lessee be adjudged a bankrupt, or it makes an assignment for the rents due benefit of creditors, or a receiver be appointed for any period beyond it or for the scheduled expiration Leased Premises, or if an assignment occurs by operation of such Leaselaw, in the case of any subsequent lease of such itemthen, and all expensesin any such event, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall forthwith terminate and be cumulativeforfeited and the Leased Premises and all improvements thereon shall forthwith become the property of Lessor, without compensation to Lessee, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor without refund of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19royalties paid hereunder.

Appears in 2 contracts

Samples: Mining Lease Agreement (Foresight Energy Partners LP), Mining Lease Agreement (Foresight Energy LP)

REMEDIES OF LESSOR. At If a default occurs and is not cured within any applicable time after permitted under paragraph No. 17 above, the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or shall have all of the Leases with respect rights and remedies allowed by law, including the right, without notice, to terminate this lease, to enter the Lessee’s premises or other real property and dispossess Lessee and their legal representatives or other persons in possession of the leased property by summary proceedings or otherwise and remove their effects and possess the property as if this lease had not been made; the Lessee hereby waives the service of notice of intention to enter or repossess or to institute legal proceedings to that end. The Lessee further agrees that in case of any or termination, the Lessee will indemnify the Lessor against all items loss of Equipment subject thereto; (b) rents and other damage which the Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all incur by reason of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equitytermination, including, without limitationbut not limited to, seeking damagescost of restoring and repairing the property and putting same into rentable condition, specific performance cost of renting the property to another Lessee, loss or an injunction. Upon repossession or return diminution of rents and other damage which the Lessor may incur by reason of such termination, and, to the extent permitted under the then applicable law, all reasonable attorney’s fees and expenses incurred in enforcing any item of the Equipment, Lessor shall sell, terms of this lease or otherwise dispose any other rights or remedies of such item in a commercially reasonable mannerthe Lessor. Neither acceptance of rent by the Lessor, with or without notice and on public or private bidknowledge of breach, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration nor failure of the term Lessor to take action on account of any breach hereof or to enforce its rights hereunder shall be deemed a waiver of any breach. Absent written notice or consent, said breach shall be a continuing one. The words “re-enter” and “re-entry” as used in this lease is not restricted to their technical legal meaning. The Lessee hereby expressly waives any and all rights to recover or regain possession of the applicable Leasepremises or to reinstate or to redeem this lease as permitted or provided by or under any statute, in the case of a salelaw, or the rents due for any period beyond the scheduled expiration of such Lease, decision now or hereafter in the case of any subsequent lease of such item, force and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19effect.

Appears in 2 contracts

Samples: Sample Lease Purchase Agreement, Sample Lease Purchase Agreement

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; : (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other other-process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, including without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment judgement against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 2 contracts

Samples: Master Lease Agreement (Psinet Inc), Master Lease Agreement (Psinet Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may may, in its sole discretion and without notice, exercise one or more of the following remediesremedies without any presentment, demand or protest: (a) Lessor may terminate any or the Agreement and all of the Leases with respect Lessee's rights as to any or all items of Equipment subject theretoProperty; (b) Lessor may recover proceed by appropriate court action to personally, or by its agents, take possession from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of EquipmentProperty wherever found and for this purpose enter upon Xxxxxx's premises where any item of Property is located and remove such item of Property free from all claims of any nature whatsoever by Xxxxxx and Lessor may thereafter dispose of the Property; provided, wherever however, that any proceeds from the same disposition of the Property in excess of the sum required to (i) pay to Lessor an amount equal to the total unpaid principal component of Lease Payments and any other amounts then due under this Agreement, and (iii) pay Lessor's costs and expenses associated with the disposition of the Property and the Event of Default (including attorney’s fees), shall be paid to Lessee or such other creditor of Lessee as may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possessionentitled thereto, and any such taking of possession further provided that no deficiency shall not constitute a termination of any Leasebe allowed against Lessee; (dc) Lessor may demand that proceed by appropriate court action(s) to enforce performance by Lessee return any of its obligations or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may recover damages for the breach or pursue any other remedy available to Lessor at law or in equity, including, without limitation, seeking damages, specific performance equity or an injunctionotherwise; (d) declare all unpaid Lease Payments and other sums payable during the current fiscal year of the Lease Term to be immediately due and payable and / or take any and all actions to which Lessor shall be entitled under applicable law. Upon repossession No right or return remedy herein conferred upon or reserved to Lessor is exclusive of any item of the Equipmentright or remedy, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease but each shall be cumulativecumulative of every other right or remedy given at law or in equity or by statute or otherwise. Xxxxxx agrees to pay or reimburse Lessor for, and not exclusive, and in addition to any all other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor amounts due, all of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any costs of collection, including reasonable attorney fees, whether or all items of Equipmentnot suit or action is filed. 19UNLESS PROHIBITED BY LAW, XXXXXX AND LESSOR HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT.

Appears in 2 contracts

Samples: Escrow Agreement, Escrow Agreement

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 2 contracts

Samples: Master Lease Agreement (Onsite Access Inc), Master Lease Agreement (Verio Inc)

REMEDIES OF LESSOR. At All payments hereunder required to be made by Lessee to Lessor shall be deemed and considered as rent reserved upon contract, and all remedies now or hereafter given by the laws of the State of West Virginia for the collection of rent are reserved to Lessor in respect of the sums so payable, and a lien is hereby reserved and imposed upon all the personal property of Lessee at any time after acquired for use in connection with Lessee’s operations on the occurrence Leased Premises and remaining thereon at the time of any Event default hereunder, as well as also upon this Lease and the leasehold estate hereby created, to secure the payment of Default, Lessor may exercise one or more any and all sums. If default be made by Lessee in (i) the payment of the following remedies: (a) Lessor may terminate rentals, royalties, taxes, wheelage fees, and any other payments or all of the Leases with respect charges required to any be paid under this Lease; or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under in the performance of any or all of the Leases; (c) Lessor may take possession of any other terms or all items of Equipment, wherever the same may conditions hereof required to be located, without demand kept or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned performed by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equityLessee, including, without limitation, seeking damagesthe requirement to conduct its operations in accordance with Section 6 of this Lease, specific performance to provide mine plans for approval in accordance with Section 6, to maintain insurance and indemnify Lessor as set forth in Section 5, to maintain lateral and subjacent support of the Leased Premises in accordance with Section 6, to avoid the loss of or an injunction. Upon repossession bypassing coal in accordance with Section 6, to pay, perform and be responsible for any and all black lung benefits, to conduct its operations in compliance with applicable law, and perform any and all other covenants and obligations to be performed by Lessee hereunder; and in each or return any such case, such default shall continue for a period of fifteen (15) days after written notification thereof has been posted to Lessee, then in such event and as often as the same occurs, Lessor may, at its option, terminate this Lease without any further notice and re-enter upon and take possession of the Leased Premises and hold and possess the same as its absolute property free and clear of any item claims of, by, or through Lessee, and pursue any and all other remedies available under the laws of the Equipment, Lessor shall sell, lease State of West Virginia for violation of any covenant or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bidcondition hereof, and apply all such remedies shall be deemed cumulative and not exclusive. Lessee further agrees that if the net proceeds thereof (after deducting the estimated fair market value interest of such item at the expiration of the term of the applicable Lease, Lessee in the case of a Leased Premises shall be sold on execution or judicial sale, or if bankruptcy proceedings be begun by Lessee, or if Lessee be adjudged a bankrupt, or it makes an assignment for the rents due benefit of creditors, or a receiver be appointed for any period beyond it or for the scheduled expiration Leased Premises, or if an assignment occurs by operation of such Leaselaw, in the case of any subsequent lease of such itemthen, and all expensesin any such event, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall forthwith terminate and be cumulativeforfeited and the Leased Premises and all improvements thereon shall forthwith become the property of Lessor, without compensation to Lessee, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor without refund of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19royalties paid hereunder.

Appears in 2 contracts

Samples: Lease (Ramaco Resources, Inc.), Lease (Ramaco Resources, Inc.)

REMEDIES OF LESSOR. At If any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sell, lease or otherwise dispose have the right after the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bidthe applicable cure period, and apply at the net proceeds thereof sole discretion of Lessor, to terminate this Lease upon providing five (after deducting the estimated fair market value 5) days written notice. An Event of such item Default shall be deemed to have occurred at the expiration of such five (5) day period if the term of default has not been cured by the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in five (5) day period. Lessor may terminate the case Lease irrespective of any subsequent lease suit or action brought by Lessee and the time period required for termination of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall not be cumulativetolled by the filing of a suit or action. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Premises, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Premises, reasonable attorney’s fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not exclusivebe thus realized or secured to pay such sums and other charges, at Lessor’s option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Premises in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the rent provided in this Lease. If any Event of Default occurs, Lessor shall have the right to obtain injunctive and declaratory relief, temporary and/or permanent, against Lessee for any acts, conduct or omissions of Lessee, and to further obtain specific performance of any term, covenant or condition of this Lease, including but not limited to the appointment of a receiver to operate Lessee’s business at the Premises. If any Event of Default occurs, Lessor shall have the right, at its option, to declare all Rent (or any portion thereof) for the entire remaining Lease Term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Premises shall have been surrendered to or taken by Lessor, and may commence action immediately thereupon and recover judgment therefore. If any Event of Default occurs, Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of Lessee’s personal property from the Premises and any personal property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee, and Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and Lessee hereby waives any and all claim against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. No such re-entry or taking possession of the Premises by Lessor shall be construed as an election on Lessor’s part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable in damages for any such re- entry, or guilty of trespass or forcible entry. It is expressly agreed that the forbearance on the part of Lessor in the institution of any suit or entry of judgment for any part of the Rent herein reserved to Lessor, shall not serve as a defense against nor prejudice a subsequent action for such Rent. Lessee hereby expressly waives Lessee’s right to claim a merger or waiver of such subsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for liquidated Base Rent and/or Percentage Rent may be regarded by Lessor, if it so elects, as separate and independent claims capable of being separately assigned. Any and all rights, remedies and options given in this Lease to Lessor shall be cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law and without waiver of, or in equity. Any repossession derogation of, any right or subsequent sale remedy given to it under any laws now or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19hereafter in effect.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

REMEDIES OF LESSOR. At any time after All payments hereunder required to be made by Lessee to Lessor shall be deemed and considered as rent reserved upon contract, and all remedies now or hereafter given by the occurrence laws of the State of [ ] for the collection of rent are reserved to Lessor in respect of the sums so payable, and a lien is hereby reserved and imposed upon this Lease and the leasehold estate hereby created, to secure the payment of any Event of Default, Lessor may exercise one or more and all such sums. If default be made by Lessee in the payment of the following remedies: rentals and royalties herein reserved, and such payment is not the subject of an arbitration proceeding initiated pursuant to Section 9 hereof, and such default shall continue for a twenty (a20) Lessor may terminate day period after written notification thereof has been received by Lessee, or a material default in the performance of any or all of the Leases with respect other terms or conditions hereof required to any be kept or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned performed by such taking of possessionLessee, and any such taking default shall continue for a period of thirty (30) days after written notification thereof has been received by Lessee, then in such event and as often as the same occurs, Lessor may, at its option, terminate this Lease without any further notice and re-enter upon and take possession shall not constitute a termination of the Leased Premises and hold and possess the same as its absolute property free and clear of any Lease; (d) Lessor may demand that Lessee return any claims of, by, or all items of Equipment to Lessor in accordance with Paragraph 16; through Lessee, and (e) Lessor may pursue any and all other remedy remedies available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return under the laws of the State of [ ] for violation of any item covenant or condition hereof, and all such remedies shall be deemed cumulative and not exclusive. No action by Lessor pursuant to this Section 6 shall impair the Lessor's right (i) to rental and royalties due or accrued hereunder up to the time of termination and re-entry, or (ii) Minimum Annual Royalties for each of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration [ ] years of the initial term of the applicable Lease, but none shall accrue or be charged for any period thereafter. Lessee agrees that if the interest of Lessee in the case of a Leased Premises shall be sold on execution or judicial sale, or if bankruptcy proceedings be begun by Lessee, or if Lessee be adjudged a bankrupt, or it makes an assignment for the rents due benefit of creditors, or a receiver be appointed for any period beyond it or for the scheduled expiration Leased Premises, or if an assignment occurs by operation of such Leaselaw, in the case of any subsequent lease of such itemthen, and all expensesin any such event, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall forthwith terminate and be cumulativeforfeited and the Leased Premises and all improvements thereon shall forthwith become the property of Lessor, without compensation to Lessee, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor without refund of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19royalties paid hereunder.

Appears in 1 contract

Samples: Natural Resource Partners Lp

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of or Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Master Lease Agreement (Fastnet Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever whenever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing brining of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Master Lease Agreement (Network Access Solutions Corp)

REMEDIES OF LESSOR. At any time It is expressly agreed that in case of failure on the part of the Lessee to pay the rent within fifteen (15) days after the occurrence of any Event of Defaultsame shall become due, Lessor may exercise one or more of and all other charges herein provided at the following remedies: (a) Lessor may terminate any or all of time when the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then same shall become due and to become due under any or all of the Leases; payable (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession it shall not constitute a termination of be required that any Leasedemand shall be made for the same); (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case the Lessee shall neglect or fail to perform or observe any of a salethe other covenants, agreements or conditions imposed upon the Lessee by the Lease and fail to remedy and/or remove said breach within thirty (30) days of the receipt of notice thereof from the Lessor; or, if by reason of the nature of such default it cannot be corrected within said thirty (30) days, fail to commence to correct such default within said thirty (30) days and thereafter prosecute the correction of the same with reasonable diligence; or in the event that said Lessee makes an assignment for the benefit of creditors, or is adjudged a bankrupt; or a Debtor, Reorganiza-tion, Arrangement, or similar petition or proceedings be filed by or against the rents due Lessee under any Chapter or provision of the Federal Bankruptcy Act, so-called; or in the event a Temporary or Permanent Receiver is appointed over the assets of said Lessee; or said Lessee's leasehold interest shall be attached or levied upon, (and such petition or proceeding under the Federal Bankruptcy Act, or such Receivership Attachment, or Levy is not vacated and/or removed within thirty (30) days thereafter; or if demised Premises shall be substantially deserted or vacated for any a period of thirty (30) days or more; except as a result of casualty, strike, act of God or other cause beyond the scheduled expiration Lessee's control; than in any of such Leasethe above cases it shall be lawful for the Lessor thereupon, in the case or at any time thereafter at its option, and notwithstanding any waiver of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor prior breach of any item of Equipment shall not bar an action for a deficiency as herein providedcovenant, and the bringing of an action agreement or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.condition(s) either:

Appears in 1 contract

Samples: Agreement of Lease (Regulus Corp)

REMEDIES OF LESSOR. At any time after Upon the occurrence of a default by Lessee hereunder and at any Event of Defaulttime thereafter (subject to any applicable grace provisions), Lessor may exercise any one or more of the following remedies, as Lessor, in its sole discretion, shall elect: (a) Lessor may terminate any or declare all of unpaid rentals under this Lease to be immediately due and payable; the Leases with respect amount to any or all items of Equipment subject theretobe due to be computed as hereinafter set forth; (b) Lessor may recover from Lessee all Rent and other amounts then due and terminate this Lease as to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever but no such termination shall be deemed to occur unless written notice to that express effect is given by Lessor to Lessee; (c) whether or not this Lease is terminated, take immediate possession of any or all of the same may be locatedEquipment, without notice or demand or notice, and without any court order or other process of law process, and for such purpose, enter upon any premises without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leaseso doing; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment, or any item in thereof, at a commercially reasonable manner, with or without notice and on public or private bidsale or lease at such time or times and upon such terms as Lessor may determine, free and apply clear of any rights of Lessee; (e) proceed by appropriate action either at law or in equity to enforce performance by Lessee of the net proceeds thereof applicable covenants of this Lease or recover damages for the breach thereof; and (after deducting f) exercise any and all rights accruing to a Lessor or personal property under any applicable law upon a default by Lessee. In furtherance of the estimated foregoing, Lessor shall be entitled to recover immediately as liquidated damages and not as a penalty, a sum equal to the aggregate of the following: (i) all unpaid rentals and other amounts or other sums which are due and payable for any item of Equipment up to the date delivered to or repossessed by Lessor; (ii) any expenses paid or incurred by Lessor in connection with the repossession, holding, repair, appraisal, transportation and subsequent sale, lease or other disposition of the Equipment, including attorneys' fees and court costs; and (iii) an amount equal to the difference between (aa) all unpaid rentals and other amounts, due and to become due under this Lease, each of which unpaid rentals and other amounts shall be discounted to present value at an annual rate of 7% (collectively, "Unpaid Rentals"), together with the amount or percentage of original cost for which Lessee would have been permitted or required to purchase the Equipment at the end of the Lease term hereof, which amount shall be discounted to present value at an annual rate of 7% ("Purchase Amount") and (bb) the then fair market value of any Equipment returned to or repossessed by Lessor ("Return Value"); provided, however, that the Return Value of each such item at of Equipment shall be deemed to be an amount equal to the expiration proceeds, if any, of any sale or lease thereof by Lessor, less any costs or expenses incurred by Lessor from such sale or lease. If Lessor is unable, after the exercise of reasonable efforts to sell or lease any such item of equipment, the Return Value of such item of equipment shall be deemed to be zero. If the Return Value of the term Equipment exceeds the sum of the applicable LeaseUnpaid Rentals plus the Purchase Amount, in Lessor shall be entitled to the case of a sale, excess. No right or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds remedy conferred upon or reserved to be retained Lessor by Lessor. Each of the remedies under this Lease shall be cumulative, exclusive of any other right or remedy herein or by law provided; all rights and not exclusive, remedies of Lessor conferred on Lessor by this Lease or by law shall be cumulative and in addition to any every other right and remedy referred to herein or otherwise available to Lessor. Lessee shall pay all costs and reasonable attorney's fees incurred by Lessor in law collecting any sums owed under this Lease or in equity. Any repossession or subsequent sale or lease by Lessor obtaining possession of any item leased Equipment, including attorney's fees incurred in seeking relief from stay in bankruptcy court together with interest at the rate of Equipment shall not bar an action for a deficiency as herein providedthe lesser of 18% compounded annually, and the bringing of an action or the entry maximum amount permitted by law on each of judgment against Lessee shall the foregoing and on all sums not bar Lessor's right to repossess paid when due under any or all items provision of Equipment. 19this Lease.

Appears in 1 contract

Samples: Business Lease Agreement (Interactive Telesis Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event event of Defaultdefault set forth in this Lease, Lessor may exercise shall have the option without any notice to Lessee (except as expressly provided below) and with or without judicial process, to pursue any one or more of the following remediesremedies set forth herein without any notice or demand: (a1) Lessor may pursue all of its rights at law and in equity. (2) Lessor may enter upon and take custodial possession of the leased premises, by picking or changing locks if necessary, and lock out, expel or remove Lessee and any other person who may be occupying all or any part of the leased premises without being liable for any claim for damages, and relet the leased premises on behalf of Lessee and receive the rent directly by reason of the reletting. Lessee agrees to pay Lessor on demand any deficiency that may arise by reason of any reletting of the leased premises; further, Lessee agrees to reimburse Lessor for any reasonable expenditures made by it in order to relet the leased premises, including, but not limited to, remodeling and repair costs. (3) Lessor may enter upon the leased premises, by picking or changing locks if necessary, without being liable for any claim for damages, and do whatever Lessee is obligated to do under the terms of this Lease. Lessee agrees to reimburse Lessor on demand for any expenses which Lessor may incur in effecting compliance with Lessee's obligations under this Lease; further, Lessee agrees that Lessor shall not be liable for any damages resulting to Lessee from effecting compliance with Lessee's obligations under this Lease. (4) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable this Lease, in which event Lessee shall immediately surrender the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itemleased premises to Lessor, and all expensesif Lessee fails to surrender the leased premises, includingLessor may, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition prejudice to any other remedy referred to herein which it may have for possession or otherwise available to Lessor arrearages in law rent enter upon and take possession of the leased premises, by picking or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein providedchanging locks if necessary, and lock out, expel or remove Lessee and any other person who may be occupying all or any part of the bringing leased premises without being liable for any claim for damages. With specific regard to an abandonment by Lessee of an action the leased premises or the entry a termination of judgment against Lessee shall not bar LessorLessee's right to repossess possession of the leased premises, Lessor shall use reasonable efforts to mitigate its damages by attempting to relet the leased premises; however, Lessor shall have no obligation to agree to any lease terms which it reasonably deems to be unacceptable, nor shall Lessor be obligated to (i) travel outside a radius of thirty (30) miles from Dallas County, Texas, in order to meet with a prospective tenant, or all items (ii) expend monies for finish-out requested by a prospective tenant unless Lessor in its reasonable discretion approves both the lease terms and the credit of Equipment. 19such prospective tenant.

Appears in 1 contract

Samples: Basic Lease Terms (Gulfstream Aerospace Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, expenses including, without limitation, reasonable attorneys' fees, incurred in connection therewith) therewith towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessorlessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Master Lease Agreement (Startec Global Communications Corp)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may may, without any further notice, exercise one or more of the following remediesremedies as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or the Agreement and all of the Leases with respect Lessee's rights hereunder as to any or all items of Equipment subject theretoProperty; (b) Lessor may recover proceed by appropriate court action to personally, or by its agents, take possession from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of EquipmentProperty wherever found and for this purpose enter upon Lessee's premises where any item of Property is located and remove such item of Property free from all claims of any nature whatsoever by Lessee and Lessor may thereafter dispose of the Property; provided, wherever however, that any proceeds from the same disposition of the Property in excess of the sum required to (i) pay to Lessor an amount equal to the total unpaid principal component of Lease Payments under the Property Schedule, including principal component not otherwise due until future fiscal years, (ii) pay any other amounts then due under the Property Schedule and this Agreement, and (iii) pay Lessor's costs and expenses associated with the disposition of the Property and the Event of Default (including attorneys fees), shall be paid to Lessee or such other creditor of Lessee as may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possessionentitled thereto, and any such taking of possession further provided that no deficiency shall not constitute a termination of any Leasebe allowed against Lessee; (dc) Lessor may demand that proceed by appropriate court action or actions to enforce performance by Lessee return any of its obligations hereunder or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may recover damages for the breach hereof or pursue any other remedy available to Lessor at law or in equityequity or otherwise; (d) declare all unpaid Lease Payments and other sums payable hereunder during the current fiscal year of the Lease Term to be immediately due and payable without any presentment, including, without limitation, seeking damages, specific performance demand or an injunctionprotest and / or take any and all actions to which Lessor shall be entitled under applicable law. Upon repossession No right or return remedy herein conferred upon or reserved to Lessor is exclusive of any item of the Equipment, Lessor shall sell, lease right or remedy herein or at law or in equity or otherwise dispose provided or permitted, but each shall be cumulative of such item every other right or remedy given hereunder or now or hereafter existing at law or in a commercially reasonable manner, with equity or without notice and on public by statute or private bidotherwise, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Leasemay be enforced concurrently therewith or from time to time. Lessee agrees to pay to Lessor or reimburse Lessor for, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and addition to all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Leasehereunder, with any excess net proceeds to be retained by Lessor. Each all of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's costs of collection, including reasonable attorney fees, whether or not suit or action is filed thereon. Lessee and Lessor hereby irrevocably waive all right to repossess trial by jury in any action, proceeding or all items counterclaim (whether based on contract, tort or otherwise) arising out of Equipment. 19or relating to this Agreement.

Appears in 1 contract

Samples: www.pitneybowes.com

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject subject, thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned occassioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Master Lease Agreement (Integrated Communication Networks Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of a default by Lessee hereunder and at any Event of Defaulttime thereafter (subject to any applicable grace provisions), Lessor may exercise any one or more of the following remedies, as Lessor, in its sole discretion, shall elect: (a) Lessor may terminate any or declare all of unpaid rentals under this Lease to be immediately due and payable, the Leases with respect amount to any or all items of Equipment subject theretobe due to be computed as hereinafter set forth; (b) Lessor may recover from Lessee all Rent and other amounts then due and terminate this Lease as to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever but no such termination shall be deemed to occur unless written notice to that express effect is given by Lessor to Lessee; (c) whether or not this Lease is terminated, take immediate possession of any or all of the same may be locatedEquipment, without notice or demand or notice, and without any court order or other process of law process, and for such purpose, enter upon any premiss without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leaseso doing; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment, or any item in thereof, at a commercially reasonable manner, with or without notice and on public or private bidsale or lease at such time or times and upon such terms as Lessor may determine, free and apply clear of any rights of Lessee; (e) proceed by appropriate action either at law or in equity to enforce performance by Lessee of the net proceeds thereof applicable covenants of this Lease or recover damages for the breach thereof; and (after deducting f) exercise any and all rights accruing to a Lessor or personal property under any applicable law upon a default by Lessee. In furtherance of the estimated foregoing, Lessor shall be entitled to recover immediately as liquidated damages and not as a penalty, a sum equal to the aggregate of the following: (i) all unpaid rentals and other amounts or other sums which are due and payable for any item of Equipment up to the date delivered to or repossessed by Lessor; (ii) any expenses paid or incurred by Lessor in connection with the repossession, holding, repair, appraisal, transportation and subsequent sale, lease or other disposition of the Equipment, including attorneys' fees and court costs; and (iii) an amount equal to the difference between (aa) all unpaid rentals and other amounts, due and to become due under this Lease, each of which have been permitted or required to purchase the Equipment at the end of the Lease term hereof, which amount shall be discounted to present value at an annual rate of 7% ("Purchase Amount") and (bb) the then fair market value of any Equipment returned to or repossessed by Lessor ("Return Value"); provided, however, that the Return Value of each such item at of Equipment shall be deemed to be an amount equal to the expiration proceeds, if any, of any sale or lease thereof by Lessor, less any costs or expenses incurred by Lessor from such sale or lease. If Lessor is unable, after the exercise of reasonable efforts to sell or lease any such item of equipment, the Return Value of such item of equipment shall be deemed to be zero. If the Return Value of the term Equipment exceeds the sum of the applicable LeaseUnpaid Rentals plus the Purchase Amount, in Lessor shall be entitled to the case of a sale, excess. No right or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds remedy conferred upon or reserved to be retained Lessor by Lessor. Each of the remedies under this Lease shall be cumulative, exclusive of any other right or remedy herein or by law provided; all rights and not exclusive, remedies of Lessor conferred on Lessor by this Lease or by law shall be cumulative and in addition to any every other right and remedy referred to herein or otherwise available to Lessor. Lessee shall pay all costs and reasonable attorney's fees incurred by Lessor in law collecting any sums owed under this Lease or in equity. Any repossession or subsequent sale or lease by Lessor obtaining possession of any item leased Equipment, including attorney's fees incurred in seeking relief from stay in bankruptcy court together with interest at the rate of Equipment shall not bar an action for a deficiency as herein providedthe lesser of 18% compounded annually, and the bringing of an action or the entry maximum amount permitted by law on each of judgment against Lessee shall the foregoing and on all sums not bar Lessor's right to repossess paid when due under any or all items provision of Equipment. 19this Lease.

Appears in 1 contract

Samples: Business Lease Agreement (Interactive Telesis Inc)

REMEDIES OF LESSOR. At any time after the Upon each occurrence of any an Event of DefaultDefault and so long as such Event of Default shall be continuing, Lessor may exercise one at any time thereafter at its election terminate this Lease or more Lessee's right of possession (but Lessee shall remain liable as hereinafter provided), and/or pursue any other remedies at law or in equity. Upon the following remedies: (a) termination of this Lease or termination of Lessee's right of possession, it shall be lawful for Lessor, to re-enter the Space by summary dispossession proceedings or any other action or proceeding authorized by law and to remove Lessee and all persons and property therefrom. If Lessor may terminate any re-enters the Space, Lessor shall have the right to keep in place and use, or remove and store, all of the Leases with respect to any or all items of Equipment subject thereto; (b) furniture, fixtures and equipment at the Space. If Lessor terminates this Lease, Lessor may recover from Lessee the sum of: all Rent, Additional Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Space, including without limitation brokerage fees and/or leasing commissions incurred by Lessor, and costs of removing and storing Lessee's or any other occupant's property, repairing, altering, re- modeling, or otherwise putting the Space into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Lessor in pursuing its remedies, including reasonable attorneys' fees and court costs. If Lessor terminates Lessor's right of possession (but not this Lease), Lessor shall relet the Space for rent and upon such terms as shall be satisfactory to Lessor without thereby releasing Lessee from any liability hereunder and without demand or notice of any kind to Lessee. For the purpose of such reletting Lessor is authorized to make any repairs, changes, alterations, or additions in or to the Space as Lessor deems reasonably necessary or desirable. If the Space is not relet, then Lessee shall pay to Lessor as damages a sum equal to the amount of rental reserved in this Lease for such period or periods, plus the cost of recovering possession of the Space (including reasonable attorney's fees and costs of suit), the unpaid Rent, Additional Rent and other amounts then due accrued hereunder at the time of repossession, and the costs incurred in any attempt by Lessor to become due under any or relet the Space. If the Space is relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Lessor, the unpaid Rent, Additional Rent and other amounts accrued hereunder at the time of reletting, the cost of recovering possession (including reasonable attorneys' fees and costs of suit), all of the Leases; costs and expenses of repairs, changes, alterations, and additions, the expense of such reletting (cincluding without limitation brokerage fees and leasing commissions) and the cost of collection of the Rent and Addi- tional Rent accruing therefrom] to satisfy the Rent provided for in this Lease to be paid, then Lessee shall immediately satisfy and pay any such deficiency. Any such payments due Lessor shall be made upon demand therefor from time to time and Lessee agrees that Lessor may take possession file suit to recover any sums falling due from time to time. Notwithstanding any such reletting without termination, Lessor may at any time thereafter elect in writing to terminate this Lease for such previous breach. Exercise by Lessor of any one or all items of Equipment, wherever the same may be located, without demand more remedies hereunder granted or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession otherwise available shall not constitute be deemed to be an acceptance of surrender of the Space and/or a termination of this Lease by Lessor, whether by agreement or by operation of law, it being understood that such surrender and/or termination can be effected only by the written agreement of Lessor and Lessee. The failure of Lessor at any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment time to Lessor enforce its rights under this Lease strictly in accordance with Paragraph 16; same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and (e) covenants of this Lease or as having modified the same. Lessee and Lessor may pursue any other remedy available further agree that forbearance or waiver by Lessor to enforce its rights pursuant to this Lease or at law or in equity, including, without limitation, seeking damages, specific performance shall not be a waiver of Lessor's right to enforce one or an injunctionmore of its rights in connection with any subsequent Event of Default. Upon repossession or return No waiver by Lessor of any item provision of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulativedeemed to have been made unless expressed in writing and signed by Lessor. To the greatest extent permitted by law, and not exclusive, and Lessee waives all right of redemption in addition to any other remedy referred to herein case Lessee shall be dispossessed by a judgment or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor warrant of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action court or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19judge.

Appears in 1 contract

Samples: Lease Agreement (Dialysis Corp of America)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter (subject to any applicable grace provisions), Lessor may may, without any further notice, exercise one or more of the following remedies, as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or all of the Leases with respect this Lease as to any or all items of Equipment subject theretoPersonal Property; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all take possession of the LeasesPersonal Property wherever found, and for this purpose enter upon any premises of Lessee without any liability for suit, action or other proceeding by Lessee, and remove the same; (c) cause Lessee, at its expense, to promptly return the Personal Property to Lessor may take possession of any or all items of Equipment, wherever in the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leasecondition required herein; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equityuse, includinghold, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of the Personal Property or any item thereof on the premises of Lessee or any other location without affecting the obligations of Lessee as provided in this Lease; (e) sell or lease the Personal Property, or any part thereof, at public auction or by private sale or lease at such item time or times and upon such terms as Lessor may determine, free and clear of any rights of Lessee and, if notice thereof is required by law, any notice in a commercially writing of any such sale or lease by Lessor to Lessee not less than ten (10) days prior to the date thereof shall constitute reasonable manner, with notice thereof to Lessee; (f) proceed by appropriate action either by law or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term in equity to enforce performance by Lessee of the applicable Lease, in covenants of this Lease or to recover damages for the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expensesbreach thereof, including, without limitation, reasonable attorneys' fees, incurred in connection therewithrentals for the greater of (i) towards the Rent period of any required notice for Lessee to return Personal Property to Lessor or (ii) the period from the date of default to the date of return of the Personal Property to Lessor; or (g) exercise any and other amounts due all rights accruing to a Lessor under such Lease, with any excess net proceeds to be retained applicable law upon a default by Lessora Lessee. Each None of the remedies under this Lease are intended to be exclusive, but each shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment Personal Property shall not bar an action for a deficiency as herein provided, provided and the bringing of an action or the entry of judgment against the Lessee shall not bar the Lessor's right to repossess any or all items of EquipmentPersonal Property. 19In the event of a default by Lessee hereunder and Lessor exercises any of the above remedies, Lessor shall use reasonable efforts to mitigate damages and any rental or other amounts received by Lessor shall offset the amounts owing from Lessee hereunder.

Appears in 1 contract

Samples: Lease Agreement (Holiday Rv Superstores Inc)

REMEDIES OF LESSOR. At any time after In the occurrence event of any Event breach of Defaultthis Lease by Lessee, and failure to cure during the subject notice and cure periods as provided herein, then Lessor, in addition to such other rights or remedies provided to Lessor herein, shall have the immediate right of re-entry and may remove all persons and property from the demised premises. Such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Lessee. Should Lessor elect to re-enter, as herein provided, or should he take possession pursuant to legal proceedings or pursuant to any notice provided for by law, they may EITHER TERMINATE this Lease, or may from time to time, without terminating this Lease, re-let said premises, or any part thereof, for such term or terms (which may be for a term extending beyond the term of this Lease) and at such fair market rental or rentals and upon such other reasonable terms and conditions as Lessor may deem advisable with the right to make alterations and repairs to said demised premises. Upon each such re-letting (a) Lessee shall be immediately liable to pay to Lessor, in addition to any indebtedness other than rent due hereunder, the cost and expenses of such re-letting and of such alterations and repairs incurred by Lessor, and the amount, if any, by which the rent reserved in this Lease for the period of such re-letting (up to but not beyond the remaining term of any then current Renewal Term of this Lease) exceeds the amount agreed to be paid as rent for the demised premises for such period on such re-letting, as such becomes due; or (b) at the option of Lessor, rents received by Lessor from such re-letting shall be applied as follows; first, to the payment of any indebtedness other than rent due hereunder from Lessee to Lessor; second, to the payment of any costs and expenses of such re-letting and of such alterations and repairs; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Lessor and applied in payment of future rent as the same may become due and payable hereunder. If Lessee has been credited with any rent to be received by such re-letting under option (a) and such rent shall not be promptly paid to Lessor by the new tenant, or if such rentals received from such re-letting under option (b) during any month be less than that to be paid during that month by Lessee hereunder, Lessee shall pay any such deficiency to Lessor. Such deficiency shall be calculated and paid monthly. No such re-entry or taking possession of said premises by Lessor shall be construed as an election on Lessor's part to terminate this Lease unless a written notice of such intention be given to Lessee or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such re-letting without termination, Lessor may exercise one or more of the following remedies: (a) at any time thereafter elect to terminate this Lease for such uncured previous breach. Should Lessor may at any time terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee this Lease for any damages occasioned by such taking of possessionuncured breach, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred they may have, they may recover from Lessee all damages they may incur by reason of such breach, including the cost of recovering the demised premises, and including the excess, if any, of the amount of rent and charges equivalent to herein or otherwise available rent reserved in this Lease for the remainder of the then current term, over the then reasonable rental value of the demised premises for the remainder of such term, all of which amounts shall be due and payable from Lessee to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19they accrue.

Appears in 1 contract

Samples: R B Rubber Products Inc

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may without demand or notice to Lessee and without terminating or otherwise affecting Lessee's obligations hereunder exercise one or more of the following remedies, as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or xxx for and recover from Lessee the sum of all unpaid rents and other payments due under each Lease then accrued, all accelerated future payments due under each Lease, discounted to their present value at a discount rate equal to current rate as of the Leases with respect date of default, plus Lessor's estimate at the time each Lease was entered into of Lessor's residual interest in the Equipment, reduced to any or all items present value at a discount rate equal to current rate as of Equipment subject theretothe date of default, less the net proceeds of disposition, if any, of the Equipment; (b) require Lessee to assemble the Equipment and make it available to Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leasesat a place designated by Lessor as provided in Paragraph 17 above; (c) Lessor may take and hold possession of the Equipment and render the Equipment unusable, and for this purpose enter and remove the Equipment from any or all items of Equipment, wherever premises where the same may be located, without demand or notice, without any court order or other process of law and located without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leasedamage caused thereby; (d) sell or lease the Equipment or any part thereof at public or private sale (and Lessor may demand that Lessee return be a purchaser at such sale) for cash, on credit or otherwise, without representations or warranties, and upon such other terms as shall be acceptable to Lessor, and for such purposes of sale or lease, Lessor may use Lessee's name, voice, signature, photograph or likeness, in any manner and for any purpose, including but not limited to, advertising or selling, or soliciting purchases of, any or all items of the Equipment, products, merchandise, goods or services; (e) use and occupy the premises of Lessee for the purpose of taking, holding, reconditioning, displaying, selling or leasing the Equipment, without cost to Lessor or liability to Lessee; (f) proceed by appropriate action either at law or in equity to enforce either performance by Lessee of the covenants of this Lease or to recover damages for the breach of such covenants; or (g) exercise any and all rights accruing to a lessor under any applicable law upon a default by a lessee. If notice is required by law, any written notice to Lessee of any such sale or lease, given not less than five (5) days prior to the date thereof, shall constitute reasonable notice to Lessee. Any sale or lease of the Equipment by Lessor after default shall be free and clear of any rights or interests of Lessee. Without limiting any of the foregoing remedies, Lessor may immediately recover the following from Lessee. (A) all unpaid rentals, late charges and other sums due as of the date of default; (B) all unpaid rentals to become due from the date of default through the last day of the term of each Lease; (C) any and all costs or expenses paid or incurred by Lessor in connection with the repossession, holding, repair, reconditioning and subsequent sale, lease or other disposition of the Equipment, including but not limited to, attorneys' fees and costs, whether or not litigation is commenced; (D) the residual value of any item of Equipment which Lessee fails to return to Lessor as provided above or converts or destroys, or which Lessor does not or is unable to repossess;(E) all other costs or expenses paid or incurred by Lessor at any time in accordance connection with Paragraph 16the execution, delivery, administration, amendment and enforcement or exercise of any of the Lessor's rights and remedies under each Lease, including but not limited to, attorneys' fees and costs, whether or not litigation is commenced, and taxes imposed by any governmental agency; (F) any actual or anticipated loss of federal or state tax benefits to Lessor (as determined by Lessor) resulting from Lessee's default or Lessor's repossession or disposition of the Equipment; and (eG) any and all other damages proximately caused by Lessee's default. If Lessor may pursue obtains possession of any Equipment after default, the amount Lessor shall be entitled to recover shall be reduced by the lesser of(I ) the rent due for the portion of the term of each Lease remaining at the point in time the Equipment is re-sold or re-leased, or (2) either (a) the proceeds received by Lessor on the re-sale of the Equipment, less the re-sold Equipment's residual value or (b) the invoice value used for the re-lease of the Equipment less the re-leased Equipment's residual value. Lessor shall not be obligated to sell, lease, or otherwise dispose of any item of repossessed Equipment under each Lease if it would impair the sale, lease or other disposition by Lessor of similar equipment. Lessee shall be liable for any deficiency suffered by Lessor, and unless otherwise required by law, Lessor shall not be required to account to Lessee for any surplus or profit. All rights and remedies of Lessor under each Lease are in addition to all rights and remedies contained in any other remedy agreement, instrument or document or available to Lessor at law or in equity. All such rights and remedies are cumulative and not exclusive and may be exercised successively, includingconcurrently and repeatedly. No default by Lessee or action by Lessor, without limitationincluding repossession, seeking damagessale or re-leasing of Equipment, specific performance shall result in or an injunctionconstitute a termination of each Lease unless Lessor so notifies Lessee in writing, and no termination hereof shall release or impair any of Lessee's obligations hereunder. Upon repossession or return No exercise of any item right or remedy shall constitute an election of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice remedies and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case preclude exercise of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessorright or remedy. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19LESSEE WAIVES ANY AND ALL RIGHTS TO NOTICE AND TO A JUDICIAL HEARING WITH RESPECT TO THE REPOSSESSION OF THE EQUIPMENT BY LESSOR IN THE EVENT OF DEFAULT HEREUNDER BY LESSEE.

Appears in 1 contract

Samples: Master Lease Agreement (Applied Biometrics Inc)

REMEDIES OF LESSOR. At any time after If Lessee shall default in the occurrence payment of the rent reserved herein, or in the payment of any Event item of Defaultadditional rent or other monies, Lessor may exercise one due hereunder, or any part of same, or Lessee shall default in the observance of any of the other terms, covenants and conditions of this lease; or If the demised premises must be abandoned, deserted or vacated, or if Less shall sublet the demised premises or assign this lease except as herein provided; or If Lessee shall make an assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or be adjudicated a bankrupt by any court and such adjudication shall not be vacated thirty (30) days or Lessee takes the benefit of any insolvency act, or Lessee be dissolved voluntarily or involuntarily or have a receiver of Lessee's property appointed in any proceedings other than bankruptcy proceedings, and such appointment shall not be vacated within thirty (30) days after if has been made; then, upon the happening of anyone or more of the following remedies: (a) defaults or events specified above, this lease and the term hereof shall at the option and election of the Lessor wholly cease and terminate, and there upon or at any time thereafter, Lessor may terminate any re- enter said premises either by force or all otherwise and have possession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor same and/or may recover from possession thereof by summary proceedings otherwise but Lessee all Rent and other amounts then due and shall remain liable to become due under any Lessor. If Lessee shall default in the performance or all of the Leases; (c) Lessor may take possession observance of any term or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law condition in this lease and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) cure such default within such 15 day period and thereafter proceed with diligence to complete such cure Lessor may demand that may, but shall not be obligated to, cure such default by Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16under this lease; and (e) whenever Lessor may pursue any other remedy available at law or in equityso elects all costs and expenses incurred by Lessor, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, including reasonable attorneys' fees, incurred in connection therewith) towards curing a default shall be paid by Lessee to Lessor on demand, together with interest thereon from the Rent and other amounts due under such Lease, with any excess net proceeds date of payment by Lessor to be retained date of payment by LessorLessee. Each In the event of anyone or more of the remedies under this Lease shall defaults set out above, all payments of rent, additional rent or of lease or any extension thereof, shall, at the option of Lessor, become immediately due and payable in full. Lessor may re-enter the demised premises using such force for that purpose as may be cumulativenecessary without being liable to any prosecution therefore, and not exclusive, Lessor may repair or alter the demised premises in such manner as to Lessor may seem necessary or advisable to re-let the demised premises. The Lessor has the right to relet said premises and to collect any deficiency in reletting in addition to any other remedy referred reasonable expenses incurred, however, the Lessee's obligation to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or pay damages must survive the termination of the lease and the election by Lessor of any item single remedy does not preclude the use of Equipment shall any other remedy whether or not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.mentioned in this lease,

Appears in 1 contract

Samples: Office Lease (Columbialum Staffing Inc)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein providedpovided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Master Lease Agreement (Consumer Net Marketplace Inc)

REMEDIES OF LESSOR. At If any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sell, lease or otherwise dispose have the right after the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bidthe applicable cure period, and apply at the net proceeds thereof sole discretion of Lessor, to terminate this Lease upon providing five (after deducting the estimated fair market value 5) days written notice. An Event of such item Default shall be deemed to have occurred at the expiration of such five (5) day period if the term of default has not been cured by the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in five (5) day period. Lessor may terminate the case Lease irrespective of any subsequent lease suit or action brought by Lessee and the time period required for termination of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall not be cumulativetolled by the filing of a suit or action. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Premises, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Premises, reasonable attorney’s fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not exclusivebe thus realized or secured to pay such sums and other charges, at Lessor’s option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Premises in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the rent provided in this Lease. If any Event of Default occurs, Lessor shall have the right to obtain injunctive and declaratory relief, temporary and/or permanent, against Lessee for any acts, conduct or omissions of Lessee, and to further obtain specific performance of any term, covenant or condition of this Lease, including but not limited to the appointment of a receiver to operate Lessee’s business at the Premises. If any Event of Default occurs, Lessor shall have the right, at its option, to declare all Rent (or any portion thereof) for the entire remaining Lease Term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Premises shall have been surrendered to or taken by Lessor, and may commence action immediately thereupon and recover judgment therefore. If any Event of Default occurs, Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of Lessee’s personal property from the Premises and any personal property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee, and Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and Lessee hereby waives any and all claim against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. No such re-entry or taking possession of the Premises by Lessor shall be construed as an election on Lessor’s part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable in damages for any such re- entry, or guilty of trespass or forcible entry. It is expressly agreed that the forbearance on the part of Lessor in the institution of any suit or entry of judgment for any part of the Rent herein reserved to Lessor, shall not serve as a defense against nor prejudice a subsequent action for such Rent. Lessee hereby expressly waives Lessee’s right to claim a merger or waiver of such subsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for liquidated Base Rent and/or Ticket Surcharge may be regarded by Lessor, if it so elects, as separate and independent claims capable of being separately assigned. Any and all rights, remedies and options given in this Lease to Lessor shall be cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law and without waiver of, or in equity. Any repossession derogation of, any right or subsequent sale remedy given to it under any laws now or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19hereafter in effect.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Master Lease Agreement (Telecom Wireless Corp/Co)

REMEDIES OF LESSOR. At any time after In the occurrence event of any Event default of DefaultLessee as provided in Section 13.1, Lessor shall have the immediate right to re-enter and may remove all persons and property from the Premises. Lessor may dispose of such property in any manner it deems expedient at the expense of Lessee. Whether or not Lessor elects to re-enter, as herein provided, or take possession pursuant to legal proceedings or pursuant to any notice provided by law, Lessor may exercise one at its option terminate this Lease by giving written notice to Lessee specifying a date on which this Lease shall terminate, and upon such date, this Lease shall terminate. In case of any such default, termination, re-entry, expiration and/or dispossession by summary proceedings or more otherwise, (1) all Base Rent and Additional Rent shall become due thereupon and be paid up to the time of the following remedies: such re-entry, dispossession and/or expiration; and/or (a2) Lessor may terminate re-let the Premises or any part or all parts thereof, either in the name of Lessor or otherwise, for a term or terms which may, at Lessor's option, be less than or exceed the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of period which would otherwise have constituted the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration balance of the term of this Lease and may grant concessions or free rent; and/or (3) Lessee shall also pay Lessor as liquidated damages for the applicable Leasefailure of sublessee to observe and perform Lessee's covenants herein contained, in any deficiency between the case rent hereby reserved and/or covenanted to be paid and the net amount, if any, of a sale, or the rents due collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the term of this Lease. The failure or refusal of Lessor to re-let the Premises or any period beyond the scheduled expiration of part or parts thereof shall not release or affect Lessee's liability for damages. In computing such Leaseliquidated damages there shall be added to such deficiency such expenses as Lessor may incur in connection with re-letting, in the case of any subsequent lease of such item, and all as legal expenses, including, without limitation, reasonable attorneys' fees, incurred brokerage and for keeping the Premises in connection therewith) towards good order or for preparing the Rent same for re-letting, including all alterations, repairs, replacements and other amounts due redecorations as Lessor may take in its sole discretion. Any suit brought to collect the amount of the deficiency for any month shall not prejudice in any way the rights of Lessor to collect the deficiency for any subsequent month by a similar proceeding. Lessor shall in no event be liable in any way whatsoever for failure to relet the Premises, or in the event the Premises are re-let, for failure to collect the rent under such Lease, with any excess net proceeds to be retained by Lessorre-letting. Each of the remedies under Mention in this Lease of any particular remedy shall be cumulative, and not exclusive, and in addition to preclude Lessor from any other remedy referred to herein or otherwise available to Lessor remedy, in law or in equity. Any repossession Lessee hereby expressly waives any and all rights or subsequent sale redemption granted by or lease under any present or future laws in the event of Lessor obtaining possession of the Premises, by Lessor reason of the violation by sublessee of any item of Equipment shall not bar an action for a deficiency as herein providedthe covenants and conditions of this Lease, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19otherwise.

Appears in 1 contract

Samples: Office Space Lease Agreement (Able Laboratories Inc)

REMEDIES OF LESSOR. At any time after If Lessee shall default in the occurrence payment of the rent reserved herein, or in the payment of any Event items of Defaultadditional rent or other monies, Lessor may exercise due hereunder, or any part of same, or Lessee shall default in the observance of any of the other terms, covenants and conditions of this lease; or if the demised premises must be abandoned, deserted or vacated, or if Lessee shall sublet the demised premises or assign this lease except as herein provided; or If Lessee shall make an assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or be adjudicated bankrupt by any court and such adjudication shall not be vacated within thirty (30) days or Lessee takes the benefit of any insolvency act, or Lessee be dissolved voluntarily or involuntarily or have a receiver of Lessee's property appointed in any proceedings other than bankruptcy proceedings, and such appointment shall not be vacated within thirty (30) days after it has been made; then, upon the happening of any one or more of the following remedies: (a) defaults or events specified above, this lease and the term hereof shall at the option and election of the Lessor wholly cease and terminate, and thereupon or at any time thereafter, Lessor may terminate any re-enter said premises either by force or all otherwise and have possession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor same and/or may recover from possession thereof by summary proceedings otherwise, but Lessee all Rent and other amounts then due and shall remain liable to become due under any Lessor. If Lessee shall default in the performance or all of the Leases; (c) Lessor may take possession observance of any term or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law condition in this lease and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; cure such default within such thirty (d30) day period and thereafter proceed with diligence to complete such cure Lessor may demand that may, but shall not be obligated to cure such default by Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16under this lease; and (e) whenever Lessor may pursue any other remedy available at law or in equityso elects all costs and expenses incurred by Lessor, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, including reasonable attorneys' fees, incurred in connection therewith) towards curing a default shall be paid by Lessee to Lessor on demand, together with interest thereon from the Rent and other amounts due under such Lease, with date of payment by Lessor to date of payment by Lessee. In the event of any excess net proceeds to be retained by Lessor. Each one or more of the remedies under defaults set out above, all payments of rent, additional rent during the term of this Lease shall lease, or any extension thereof, shall, at the option of Lessor, become immediately due and payable in full. Lessor may re-enter the demised premises using such force for the purpose as may be cumulativenecessary without being liable to any prosecution therefore, and not exclusive, Lessor may repair or alter the demised premises in such manner as to Lessor may seem necessary or advisable to re-let the demised premises. The Lessor has the right to re-let said premises and to collect any deficiency in re-letting in addition to any other remedy referred reasonable expenses incurred, however, the Lessee's obligation to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or pay damages must survive the termination of this lease and the election by Lessor of any item single remedy does not preclude the use of Equipment shall any other remedy whether or not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentmentioned in this lease. 19.Authentisign ID: 739D4804-2276-46C6-AFC6-178BF352B142

Appears in 1 contract

Samples: Office Lease

AutoNDA by SimpleDocs

REMEDIES OF LESSOR. At In the event that the rent or any other amount of money herein agreed to be paid by the Lessee shall remain unpaid for a period of ten (l0) days after the same becomes due, or in the event the Lessee shall at any time after be in default in the occurrence observance or performance of any Event of Defaultthe other covenants, agreements, terms, provisions and conditions assumed or imposed on it hereunder for a period of fifteen (l5) days after notice to Lessee of such default, then the Lessor may shall be entitled, at its election, to exercise concurrently or successively, any one or more of the following rights and remedies: a. To pay any sum required to be paid by Lessee under the terms of this Lease to other than the Lessor and to perform any obligation required to be performed by the Lessee under the terms of this Lease for the account of the Lessee and the amount paid by Lessor with interest thereon at the rate of one and one-half percent (al-l/2%) per month and all expenses connected therewith shall be repaid by the Lessee to the Lessor on demand. For this purpose, any receipt of the party to whom said payment shall have been made, shall be conclusive evidence against the Lessee that the amount of such payment was made. b. To charge Lessee interest at the rate of one and one-half percent (l-l/2%) per month on rent remaining unpaid for a period in excess of ten (l0) days after it is due. c. To enjoin any breach or threatened breach by the Lessee of any covenant, agreement, term, provision and condition thereof. d. To bring suit for the collection of the rents or other amounts which may be in default, and to have a receiver appointed to receive and collect all rents and amounts due without entering into possession or terminating or avoiding this Lease. e. To re-enter the Demised Premises, by summary proceedings or otherwise, and take possession thereof without thereby terminating this Lease, and thereupon the Lessor may terminate any expel all persons and remove all property therefrom either peaceably or all by force, without becoming liable to prosecution therefor, and re-let the Demised Premises, making reasonable efforts therefor, for such period and upon such terms according to the Lessor's sole discretion and receive the rent therefrom, applying the same first to the payment of the Leases with respect reasonable expenses of such re-entry and the cost of such re-letting and then to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all the payment of the Leases; (c) rent accruing hereunder, the balance, if any, to be paid to the Lessee, who, whether or not the Demised Premises are re-let, shall remain liable for any deficiency which may be recovered by the Lessor, periodically, upon the successive days upon which the fixed rent hereunder is payable. It is agreed that the commencement and prosecution of any action by the Lessor may take in forcible entry and detainer, ejectment or otherwise, or the appointment of a receiver or any execution of any decree obtained in any action to recover possession of the Demised Premises or any or all items of Equipmentre-entry, wherever the same may shall not be located, without demand or notice, without any court order or other process of law and without liability construed as an election to Lessee for any damages occasioned by such taking of possessionterminate this Lease unless this Lease be expressly terminated, and any such taking of possession re-entry or entry by the Lessor, whether had or taken under summary proceedings or otherwise, shall not constitute a termination be deemed to have absolved or discharged the Lessee from any of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; its obligations and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of liabilities for the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration remainder of the term of the applicable this Lease. f. To terminate this Lease, in re-enter the case of a saleDemised Premises and property and take possession thereof, or wholly discharged from this Lease. In the rents due for any period beyond event the scheduled expiration of such Lessor shall elect to terminate this Lease, in as aforesaid, all rights and obligations of the case of any subsequent lease of such item, Lessee shall cease and terminate except that the Lessor shall have and retain full right to sue for and collect all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent rents and other amounts due under for the paxxxnt of which the Lessee shall then be in default, including damages to the Lessor by reason of such Leasebreach, which shall have accrued up to the time of Lessor's re-entry and Lessee shall surrender and deliver up to the Lessor the Demised Premises together with all improvements and additions thereto, and upon any excess net proceeds default by the Lessee in so doing, the Lessor shall have the right to be retained recover possession by Lessor. Each of the remedies under summary proceedings or otherwise, and to obtain and receive any other ancillary relief in such action and again to have and enjoy said Demised Premises fully and completely as if this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equityhad never been made. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 192.

Appears in 1 contract

Samples: Ace Hardware Corp

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. 6 Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Master Lease Agreement (Dayton General Systems Inc)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault ------------------ by Lessee as provided in Section 15.1, Lessor shall have the immediate right to re-enter and may remove all persons and property from the Premises. Whether or not Lessor elects to re-enter, as herein provided, or take possession pursuant to legal proceedings or pursuant to any notice provided by law, Lessor may (i) at its option terminate this Lease by giving written notice to Lessee specifying a date on which this Lease shall terminate, and upon such date, this Lease shall terminate, and/or (ii) from time to time, without terminating this Lease, relet the Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Lessor in the exercise one of its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises as necessary in order to so relet the Premises. Lessor may from time to time, without terminating this Lease, enforce all of its rights and remedies under this Lease or more available to Lessor at law or in equity. Nothing contained in this Lease shall be deemed a limitation upon any remedies available to lessor. Lessor shall use reasonable, good faith efforts to mitigate its damages upon the occurrence of an Event of Default. The proceeds of any re-letting shall be applied first to pay Lessor all costs and expenses of such re-letting (including without limitation costs and expenses of retaking or repossessing the Premises, removing persons and property therefrom, securing new tenants, including expenses for redecoration, alterations and other costs in connection with preparing the Premises for the new tenant) and receivers' fees incurred in connection with the appointment of and performance by a receiver to protect the Premises and Lessor's interest under this Lease and any necessary or reasonable alterations; second, to the payment of any indebtedness of Lessee to Lessor other than Rent due and unpaid hereunder; third, to the payment of Rent due and unpaid hereunder; and the residue, if any, shall be held by Lessor and applied in payment of other or future obligations of Lessee to Lessor as the same may become due and payable, and Lessee shall not be entitled to receive any portion of such revenue. Upon the occurrence of any Event of Default and termination, re-entry, expiration and/or dispossession by summary proceedings or otherwise, (1) all Rent up to the date of such occurrence shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or expiration; and/or (2) Lessee shall also pay Lessor as liquidated damages for the failure of Lessee to observe and perform Lessee's covenants herein contained, any deficiency between the Rent hereby reserved and/or covenanted to be paid and the net amount, if any, of the following remedies: (a) Lessor may terminate any or all rents collected on account of the Leases with respect lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the term of this Lease. The failure of Lessor to re-let the Premises or any part or all items of Equipment subject thereto; (b) Lessor may recover from parts thereof shall not release or affect Lessee's liability for damages and in any event, Lessee shall remain liable for all Rent and other amounts then due and to which become due under any before or all after the Event of Default, even if Lessor retakes possession of the Leases; (c) Premises. In computing such liquidated damages there shall be added to such deficiency such reasonable expenses as Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by incur in connection with re-letting such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all as legal expenses, including, without limitation, reasonable attorneys' fees, incurred brokerage and for keeping the Premises in connection therewith) towards good order. Any suit brought to collect the Rent and other amounts due amount of the deficiency for any month shall not prejudice in any way the rights of Lessor to collect the deficiency for any subsequent month by a similar proceeding. Lessor shall in no event be liable in any way whatsoever for failure to re-let the Premises, or in the event the Premises are re-let, for failure to collect the rent under such Lease, with any excess net proceeds to be retained by Lessorre-letting. Each of the remedies under Mention in this Lease of any particular remedy shall be cumulative, and not exclusive, and in addition to preclude Lessor from any other remedy referred to herein or otherwise available to Lessor remedy, in law or in equity. Any repossession Lessee hereby expressly waives any and all rights of redemption granted by or subsequent sale under any laws in effect as of the Commencement Date or lease thereafter in the event of Lessor obtaining possession of the Premises, by reason of the violation by Lessee of any of the covenants and conditions of this Lease, or otherwise. If Lessee shall fail to make any payment or perform any act required to be made or performed under this Lease, Lessor, without waiving or releasing any obligation or default, may (but shall not be obligated to) at any time, and upon reasonable notice to Lessee, make the payment or perform the act for the account and at the expense of Lessee, and may enter upon the Leased Premises for that purpose and take all actions as may be necessary to correct Lessee's breach. No such entry shall be deemed an eviction of Lessee. All sums so paid by Lessor and all costs and expenses (including, but not limited to, reasonable attorney's fees and expenses) so incurred, together with interest at the rate of any item 18% per annum from the date of Equipment payment, shall not bar an action for a deficiency as herein provided, constitute additional rent and the bringing of an action or the entry of judgment against shall be payable by Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19Lessor on demand.

Appears in 1 contract

Samples: Lease Agreement (Sight Resource Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate If any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right after the expiration of the applicable cure period, lease or otherwise dispose at the option of Lessor, to terminate this Lease upon providing fifteen (15) days written notice if the default has not been cured by the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof fifteen (after deducting the estimated fair market value 15) day period. An Event of such item Default shall be deemed to have occurred at the expiration of such fifteen (15) day period if the term of default has not been cured by the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such fifteen (15) day period. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Lease Area, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the case rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Lease Area, reasonable attorneys fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, at Lessor's option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Lease Area in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any subsequent lease sums received by Lessor on a re- letting of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred said Lease Area in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under rent provided in this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19Lease.

Appears in 1 contract

Samples: Glass House Lease

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event event of Defaultdefault and at any time thereafter as Lessor may, Lessor may exercise at its option, do any one or more of the following remediesfollowing: (a1) Lessor may terminate any or all declare this Agreement in default upon notice to Lessee, whereupon, the entire amount of rent remaining to be paid over the balance of the Leases lease term of all Equipment from the date of default, together with respect to any or all items of Equipment subject theretoother charges, shall become immediately due and payable; (b2) exercise any right or remedy available to Lessor may recover from under the Uniform Commercial Code or any other applicable law; proceed by appropriate actions at law or in equity to enforce performance by Lessee all Rent and other amounts then due and to become due under any or all of the Leasescovenants and terms of this Agreement and/or recover damages for the breach thereof; (c3) Lessor may take possession terminate this Agreement upon notice to Lessee; and demand that Lessee return all Equipment to Lessor; (4) whether or not this Lease be so terminated, and without notice to Lessee, subject to all requirements of applicable law enter the premises where the Equipment is located without liability of any nature and repossess the Equipment wherever found, with or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned legal process. Repossession by such taking of possession, and any such taking of possession Lessor shall not constitute a termination of this Agreement. Lessee shall be liable for all reasonable legal and collection fees, costs and expenses arising from an event of default and the exercise of Lessor's remedies hereunder, including cost of repossession, storage, repairs, reconditioning, re-leasing with respect to such Equipment. With respect to any Equipment returned to Lessor, or repossessed by Lessor if Lessor has not terminated this Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall selleither sell same at a private or public, lease cash or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a credit sale, or the rents due re-lease same for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of term and upon such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to rental as shall be retained solely determined by Lessor. Each Whether or not the Equipment is repossessed or leased or sold, Lessor may forthwith recover from Lessee as liquidated damages for breach of the remedies under this Lease shall be cumulativeLease, and not exclusiveas a penalty, an amount equal to, at Lessor's option, (i) (X) the entire amount of rent and all other charges due under this Agreement or incurred under the provisions of this paragraph which would have accrued for the balance of the lease term of such Equipment, computed from the date of Lessee's default, or (Y) the sum of (a) accrued and unpaid rent as of the date of Lessee's default plus (b) the Stipulated Loss Value applicable to such Equipment as of the date of Lessee's default, less (ii) the proceeds of any sale or re-leasing of such Equipment, if applicable. The amount described in addition either subclause (i) X, or resulting from a re-lease of the Equipment as described in subclause (ii) hereof, shall be discounted to their then present value at the rate of six percent (6%) per annum. In addition, there shall be added to such amounts, after such discount, interest at twelve percent (12%) from the date of Lessee's default up to the date of the payment of such amounts to Lessor. In the event that any other remedy referred to herein court of competent jurisdiction determines that any provision of this Paragraph is invalid or otherwise available to Lessor unenforceable in law whole or in equitypart, such determination shall not prohibit Lessor from establishing its damages sustained as a result of any breach of this Agreement in any action or proceedings in which Lessor seeks to recover such damages. Any repossession or subsequent sale or lease by Lessor resale of any item of Equipment shall not bar an action for a deficiency damages for breach of this Agreement, as herein hereinbefore provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19The remedies herein provided in favor of Lessor, shall not be deemed to be exclusive, but shall be cumulative and shall be in addition to all other remedies in Lessor's favor existing in law, in equity, or in bankruptcy.

Appears in 1 contract

Samples: Master Lease Agreement (HMT Technology Corp)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of Default, Lessor or at any time thereafter, Lessor, at its sole option may exercise one or more of the following remedies: (ai) Lessor may declare all accrued and unpaid rent immediately due and payable; (ii) terminate any or all of the Leases with respect this Lease as to any or all items of Equipment subject theretoupon written notice to Lessee without prejudice to any other remedies hereunder; (biii) Lessor enter at any time any premises where the Equipment may recover from Lessee all Rent be, with or without legal process, and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, thereof without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute action constituting a termination of any this Lease, unless Lessor notifies Lessee in writing to such effect; (div) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available proceed by appropriate action, either at law or in equity, includingto enforce performance by Lessee of the applicable covenants of this Lease or to recover, without limitationas liquidated damages for the loss of the bargain and not as a penalty, seeking damages, specific performance or an injunction. Upon repossession or return of any item amount equal to the Stipulated Loss Value of the Equipment, as defined in Section 8 above, as of the date of Event of Default, plus interest at Lessor's then prevailing late payment charge from the date of default to the date of payment. After repossession of the Equipment by Lessor, Lessee shall attempt to mitigate Lessee's damages as hereinafter provided. Lessor shall sell, may attempt to sell or lease or otherwise dispose of such item (the choice being reserved to Lessor's reasonable discretion) the Equipment in a commercially reasonable manner, with or without notice and on public or private bidtransaction at which Lessor may bid and, if notice thereof is required by law, any notice in writing of any such sale or lease by Lessor not less than ten (10) days prior to the date thereof shall constitute reasonable notice thereof to Lessee, The proceeds of such sale or lease, if any, should be applied first (i) to all Lessor's costs, charges and expenses incurred in taking, removing, holding, repairing, and apply selling or leasing the net proceeds thereof Equipment; then (after deducting ii) to the estimated fair market value of extent not previously paid by Lessee, to pay Lessor any damages then remaining unpaid hereunder; then (iii) to reimburse Lessee any such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for sums previously paid by Lessee as damages hereunder; then (iv) any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to surplus shall be retained by Lessor. Each Lessee shall pay Lessor any deficiency in (i) and (ii) above within ten (10) days of the written request for same. Lessor's remedies under this Lease provided for herein shall be cumulative, and not exclusive, and in addition to any and all other remedies provided, existing, or available in its favor under any other provisions of this Lease, at law, or in equity or under statute. Lessor's, remedies may be exercised concurrently or separately, and the exercise of one remedy referred shall not be deemed to herein be an election of such remedy or otherwise available to preclude the exercise of any other remedy. No failure or delay on the part of Lessor in law exercising any right or in equityremedy provided hereunder shall operate as a waiver thereof. Any repossession Waiver of default shall not be a waiver of any other or subsequent default. Lessee waives demand of performance and notice of sale or lease. Lessee waives notice of a place of sale or lease by Lessor and manner and place of any item advertising. If, after default, this Lease is placed in the hands of Equipment shall not bar an action any attorney for a deficiency as herein providedcollection of unpaid rent or enforcement of any other right or remedy of Lessor, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's pay all costs and expenses and reasonable attorneys' fees incurred in connection therewith. Each of the parties hereto waives the right to repossess trial by jury in any or all items of Equipment. 19actjion arising under this Lease.

Appears in 1 contract

Samples: Equipment Lease (New York Regional Rail Corp)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and any time thereafter, Lessor may may, without notice, exercise one or more of the following remedies, as Lessor, in its sole discretion shall elect: (a1) Lessor may declare all unpaid lease payments under the Lease to be immediately due and payable; (1) terminate any or all of the Leases with respect Lease as to any or all items of Equipment subject theretothe Equipment; (b2) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of the Equipment wherever found, and for this purpose enter upon any or all items premises of Lessee and remove the Equipment, wherever the same may be located, without demand or notice, without any court order liability for suit, action or other process of law and without liability to Lessee for any damages occasioned proceedings by such taking of possession, and any such taking of possession shall not constitute a termination of any LeaseLessee; (d3) Lessor may demand that direct Lessee return any or all items of at its expense to promptly prepare the Equipment to Lessor in accordance with Paragraph 16for pickup by Lessor; and (e4) Lessor may pursue any other remedy available at law or in equityuse, includinghold, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment or any item thereof on the site specified on the applicable Agreement or any other location without affecting the obligations of Lessee as provided in a commercially reasonable mannerthe Lease; (5) proceed by appropriate action either in law or in equity to enforce performance by Lessee of the terms of the Lease or to recover damages for the breach hereof; (6) apply the Security Deposit to payment of Lessor’s costs, with or without notice expenses and on public or private bidattorney fees in enforcing the terms of the Lease and to indemnify Lessor against any damages sustained by Lessor (provided, however, nothing herein shall be construed to mean that the recovery of damages by Lessor shall be limited to the amount of the Security Deposit); (7) exercise any and all rights accruing to Lessor under any applicable law upon an Event of Default. In addition, Lessor shall be entitled to recover immediately as damages, and apply not as a penalty, a sum equal to the net proceeds aggregate of the following: (i) all unpaid payments as are due and payable for any items of Equipment up to the date of repossession by Lessor; (ii) any expenses paid or incurred by Lessor in connection with the repossession, holding, repair and subsequent sale, lease or other disposition of the Equipment, including attorney’s fees and other reasonable costs and expenses; (iii) an amount equal to the excess of (a) all unpaid payments for any item of Equipment repossessed by Lessor from the date thereof (after deducting to the estimated fair market value of such item at the expiration end of the term of the applicable Lease, in Lease over (b) the case of a sale, or the rents due for any period beyond the scheduled expiration fair market lease value of such Leaseitem or items of Equipment for such unexpired lease period (provided however, in that the case fair market lease value shall be deemed to not exceed the proceeds of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each sale of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale Equipment or lease thereof by Lessor for a period substantially similar to the unexpired lease period); and (iv) the replacement cost of any item of Equipment shall not bar an action which Lessee fails to prepare for a deficiency return to Lessor as herein providedprovided above or converts or is destroyed, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right which Lessor is unable to repossess any or all items of Equipment. 19repossess.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after In the occurrence event of any Event breach of Defaultthis lease by Lessee, and failure to cure as provided for herein, then Lessor, after ten (10) days written notice to Lessee besides other rights or remedies Lessor may have, Lessor shall have the immediate right of re-entry and may remove all persons and property from the demised premises. Such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Lessee. Should Lessor elect to re-enter, as herein provided, or should he take possession pursuant to legal proceedings or pursuant to any notice provided for by law, she may either terminate this lease, or may from time to time, without terminating this lease, re-let said premises, or any part thereof, for such term or terms (which may be for a term extending beyond the term of this lease) and at such fair market rental or rentals and upon such other reasonable terms and conditions as Lessor may deem advisable with the right to make alterations and repairs to said premises. Upon each such re-letting (a) Lessee shall be immediately liable to Lessor, in addition to indebtedness other than rent due hereunder, for the cost and expenses of such re-letting and of such alterations and repairs incurred by Lessor, and the amount if any, by which the rent reserved in this lease for the period of such re-letting (up to but not beyond the remaining term of any then current renewal term of this lease) exceeds the amount agreed to be paid as rent for the demised premises for such period on such re-letting, as such becomes due; or (b) at the option of Lessor, rents received by Lessor from such re-letting shall be applied as follows; first, to the payment of any indebtedness other than rent due hereunder from Lessee to Lessor; second, to the payment of any costs and expenses of such re-letting and of such alterations and repairs; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Lessor and applied in payment of future rent as the same may become due and payable hereunder. If Lessee has been credited with any rent to be received by such re-letting under option (a) and such rent shall not be promptly paid to Lessor by the new tenant, or if such rentals received from such re-letting under option (b) during any month be less than that to be paid during that month by Lessee hereunder, Lessee shall pay such deficiency to Lessor. Such deficiency shall be calculated and paid monthly. No such re-entry or taking possession of said premised by Lessor shall be construed as an election on Lessor's part to terminate this lease unless a written notice of such intention be given to Lessee or unless the termination thereof decreed by a court of competent jurisdiction. Notwithstanding any such re-letting without termination, Lessor may exercise one or more of the following remedies: (a) at any time thereafter elect to terminate this lease for such uncured previous breach. Should Lessor may at any time terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee this lease for any damages occasioned by such taking of possessionuncured breach, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred they may have, they may recover from Lessee all damages they may incur by reason of such breach, including the cost of damages they may incur by reason of such breach, including the cost of recovering the demised premises, and including the excess, if any, of the amount of rent and charges equivalent to herein or otherwise available rent reserved in this lease for the remainder of the then current premises for the remainder of such term, all of which amounts shall be due and payable from Lessee to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19they accrue.

Appears in 1 contract

Samples: R B Rubber Products Inc

REMEDIES OF LESSOR. At If any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right after the expiration of the applicable cure period and after compliance with all applicable laws, lease or otherwise dispose and at the sole discretion of such item in a commercially reasonable mannerLessor, with or without to terminate this Lease and retain the Security Deposit upon providing five (5) days written notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value opportunity to cure. An Event of such item Default shall be deemed to have occurred at the expiration of such five (5) day period if the term of default has not been cured by the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in five (5) day period. Lessor may terminate the case Lease irrespective of any subsequent lease suit or action brought by Lessee and the time period required for termination of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall not be cumulativetolled by the filing of a suit or action to the extent permitted by applicable law. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Premises, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, reasonably necessary renovation and alterations of the Premises, reasonable attorney’s fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not exclusivebe thus realized or secured to pay such sums and other charges, at Lessor’s option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Premises in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the rent provided in this Lease. If any Event of Default occurs, Lessor shall have the right to obtain injunctive and declaratory relief, temporary and/or permanent, against Lessee for any acts, conduct or omissions of Lessee, and to further obtain specific performance of any term, covenant or condition of this Lease, including but not limited to the appointment of a receiver to operate Lessee’s business at the Premises. If any Event of Default occurs, Lessor shall have the right, at its option, to declare all Rent (or any portion thereof) for the entire remaining Lease Term, and other indebtedness owing by Lessee to Lessor, if any, immediately due and payable without regard to whether possession of the Premises shall have been surrendered to or taken by Lessor, and may commence action immediately thereupon and recover judgment therefore. If any Event of Default occurs, Lessor, in addition to other rights and remedies it may have, shall have the right to remove all or any part of Lessee’s personal property from the Premises and any personal property removed may be stored in any public warehouse or elsewhere at the cost of, and for the account of Lessee, and Lessor shall not be responsible for the care or safekeeping thereof whether in transport, storage or otherwise, and Lessee hereby waives any and all claim against Lessor for loss, destruction and/or damage or injury which may be occasioned by any of the aforesaid acts. No such re-entry or taking possession of the Premises by Lessor shall be construed as an election on Lessor’s part to terminate this Lease unless a written notice of such intention is given to Lessee. Notwithstanding any such re-letting without termination, Lessor may at all times thereafter elect to terminate this Lease for such previous default. Any such re-entry shall be allowed by Lessee without hindrance, and Lessor shall not be liable in damages for any such re- entry, or guilty of trespass or forcible entry. It is expressly agreed that the forbearance on the part of Lessor in the institution of any suit or entry of judgment for any part of the Rent herein reserved to Lessor, shall not serve as a defense against nor prejudice a subsequent action for such Rent. Lessee hereby expressly waives Lessee’s right to claim a merger or waiver of such subsequent action in any previous suit or in the judgment entered therein. Furthermore, it is expressly agreed that claims for liquidated Base Rent and/or Percentage Rent may be regarded by Lessor, if it so elects, as separate and independent claims capable of being separately assigned. Any and all rights, remedies and options given in this Lease to Lessor shall be cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law and without waiver of, or in equity. Any repossession derogation of, any right or subsequent sale remedy given to it under any laws now or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19hereafter in effect.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after If Lessee shall default in the occurrence payment of the rent reserved herein, or in the payment of any Event item of Defaultadditional rent or other monies, Lessor may exercise due hereunder, or any part of same, or lessee shall default in the observance of any of the other terms, covenants and conditions of this Lease; or if the Demised Premises must be abandoned, deserted or vacated or if Lessee shall sublet the demised Premises or assign this Lease except as herein Provided; or If Lessee shall make an assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or be adjudicated a bankrupt by any court and such adjudication shall not be vacated thirty (30) days or Lessee takes the benefit of any insolvency act, or Lessee be dissolved voluntarily or involuntarily or have a receiver of Lessee's property appointed in any proceedings other than bankruptcy proceedings, and such appointment shall not be vacated within thirty (30) days after it has been made; then, upon the happening of any one or more of the following remedies: (a) defaults events specified above, this lease and the term hereof shall at the option and election of the Lessor wholly cease and terminate, and there upon or at any time thereafter, Lessor may terminate any re-enter said Premises either by force or all otherwise and have possession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor same and/or may recover possession thereof by summary proceedings otherwise but Lessee shall remain liable to Lessor. If Lessee shall default in the performance or observance of any term or condition in this Lease and shall not cure such default within such 15 day period and thereafter proceed with diligence to complete such cure Lessor may, but shall not be obligated to, cure such default by Lessee under this Lease; and whenever Lessor so elects all costs and expenses incurred by Lessor, including reasonable attorney's fees, incurring a default shall be paid by Lessee to Lessor on demand, together with interest thereon from Lessee all Rent and other amounts then due and the date of payment by lessor to become due under date of payment by lessee. In the event of any one or all more of the Leases; (c) Lessor may take possession defaults set out above, all payments of any or all items of Equipmentrent, wherever additional rent remaining unpaid for the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration balance of the term of this Lease or any extension thereof, shall, at the applicable Leaseoption of Lessor, become immediately due and payable in full. Lessor may re-enter the case of a sale, or the rents due Demised Premises using such force for that purpose as may be necessary without being liable to any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itemprosecution therefore, and all expenses, including, without limitation, reasonable attorneys' fees, incurred Lessor may repair or alter the Demised Premises in connection therewith) towards such manner as Lessor may seem necessary or advisable to relet the Rent Demised Premises. The Lessor has the right to relet said Premises and other amounts due under such Lease, with to collect any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and deficiency in reletting in addition to any other remedy referred reasonable expenses incurred, however, the Lessee's obligation to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease pay damages must survive the termination of this Lease and the election by Lessor of any item single remedy does not preclude the use of Equipment shall any other remedy whether or not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19mentioned in this Lease.

Appears in 1 contract

Samples: Center Lease (Petsvetsandyou Com Inc)

REMEDIES OF LESSOR. At any time after the Upon each occurrence of any an Event of DefaultDefault and so long as such Event of Default shall be continuing, Lessor may exercise one at any time thereafter at its election terminate this Lease and Lessee's right of possession (but Lessee shall remain liable as hereinafter provided), and/or pursue any other remedies at law or more in equity. Upon the termination of this Lease and Lessee's right of possession, it shall be lawful for Lessor to re-enter the following remedies: (a) Space by summary dispossession proceedings or any other action or proceeding authorized by law and to remove Lessee and all persons and property therefrom. If Lessor may terminate any re-enters the Space, Lessor shall have the right to keep in place and use, or remove and store, all of the Leases with respect to any or all items furniture, fixtures and equipment at the Space. Upon Lessor's termination of Equipment subject thereto; (b) this Lease, Lessor may recover from Lessee the sum of: all Rent, Additional Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Space, including without limitation brokerage fees and/or leasing commissions incurred by Lessor, and costs of removing and storing Lessee's or any other occupant's property, repairing, altering, remodeling, or otherwise putting the Space into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Lessor in pursuing its remedies, including reasonable attorneys' fees and court costs. If the Space is relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Lessor, the unpaid Rent, Additional Rent and other amounts then due accrued hereunder at the time of reletting, the cost of recovering possession (including reasonable attorneys' fees and to become due under any or costs of suit), all of the Leases; costs and expenses of repairs, changes, alterations, and additions, the expense of such reletting (cincluding without limitation brokerage fees and leasing commissions) and the cost of collection of the Rent and Additional Rent accruing therefrom] to satisfy the Rent provided for in this Lease to be paid, then Lessee shall immediately satisfy and pay any such deficiency. Exercise by Lessor may take possession of any one or all items of Equipment, wherever the same may be located, without demand more remedies hereunder granted or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession otherwise available shall not constitute be deemed to be an acceptance of surrender of the Space and/or a termination of this Lease by Lessor, whether by agreement or by operation of law. Any law, usage, or custom to the contrary notwithstanding, Lessor shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Lessor at any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment time to Lessor enforce its rights under this Lease strictly in accordance with Paragraph 16; same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and (e) covenants of this Lease or as having modified the same. Lessee and Lessor may pursue any other remedy available further agree that forbearance or waiver by Lessor to enforce its rights pursuant to this Lease or at law or in equity, including, without limitation, seeking damages, specific performance shall not be a waiver of Lessor's right to enforce one or an injunctionmore of its rights in connection with any subsequent default. Upon repossession A receipt by Lessor of Rent or return other payment with knowledge of the breach of any item term or covenant of the Equipment, Lessor this Lease shall sell, lease or otherwise dispose not be deemed a waiver of such item in a commercially reasonable manner, with or without notice and on public or private bidbreach, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case no waiver by Lessor of any subsequent lease provision of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulativedeemed to have been made unless expressed in writing and signed by Lessor. To the greatest extent permitted by law, Lessee waives the service of notice of Lessor's intention to re-enter as provided for in any statute, or to institute legal proceedings to that end, and not exclusivealso waives all right of redemption in case Lessee shall be dispossessed by a judgment or by warrant of any court or judge. Any reletting of the Space shall be on such terms and conditions as Lessor in its sole discretion may determine (including without limitation a term different than the remaining Term, rental concessions, alterations and in addition repair of the Space, lease of less than the entire Space to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, tenant and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess leasing any or all items other portions of Equipmentthe Building before reletting the Space). 19Lessor shall not be liable, nor shall Lessee's obligations hereunder be diminished because of, Lessor's failure to relet the Space or collect Rent due in respect of such reletting.

Appears in 1 contract

Samples: Lease Agreement (Dialysis Corp of America)

REMEDIES OF LESSOR. At any time after Upon the occurrence of a default by Lessee hereunder and at any Event of Defaulttime thereafter (subject to any applicable grace provisions), Lessor may exercise any one or more of the following remedies, as Lessor, in its sole discretion, shall select: (a) Lessor may declare all unpaid rentals under this Lease to be immediately due and payable; the amount to be due to be computed as hereinafter set forth; (b) terminate any or all of the Leases with respect this Lease as to any or all items of Equipment subject theretobut no such termination shall be deemed to occur unless written notice to that express effect is given by Lessor to Lessee; (bc) Lessor may recover from Lessee all Rent and other amounts then due and to become due under whether or not this Lease is terminated, take immediate possession of any or all of the Leases; (c) Lessor may take possession of any Equipment without notice or all items of Equipment, wherever the same may be located, demand and without demand or notice, without any court order or other process of law process, and for such purpose, enter upon any premises without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Leaseso doing; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment or any item in thereof, at a commercially reasonable manner, with or without notice and on public or private bidsale or lease at such time or times and upon such terms as Lessor may determine, free and apply the net proceeds thereof clear of any rights of Lessee; (after deducting the estimated fair market value of such item e) proceed by appropriate action either at the expiration of the term law or in equity to enforce performance by Lessee of the applicable covenants of this Lease or recover damages for the breach thereof; and (f) exercise any and all rights accruing to a lessor of personal property under any applicable law upon a default by a lessee. Upon default, the Lessor shall be entitled to recover immediately as liquidated damages the sum of (a) all past due amounts owing under this Lease, in including late charges and interest, (b) property taxes accrued or to be accrued during the case of a salelease term for the Equipment, or which may be estimated by the rents Lessor, (c) all future payments yet to become due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itemdiscounted to present value at 5% per annum, and (d) interest on all expensesamounts past due hereunder at the rate of 18% per annum. In addition to the foregoing liquidated damages, Lessee will also be responsible for all recovery costs that Lessor incurs after a default, including, without limitationbut not limited to, reasonable attorneys' feesfees and all other out-of-pocket costs associated with enforcing the Lessee's obligations or in repossessing the Equipment. If the Lessor sells or releases the Equipment, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to liquidated damages for which Lessee is responsible will be retained by Lessor. Each credited for the present value of the remedies under sale or release proceeds. No right or remedy conferred upon or reserved to Lessor by this Lease shall be cumulative, exclusive of an other right or remedy herein or by law provided; all rights and not exclusive, remedies of Lessor conferred on Lessor by this Lease or by law shall be cumulative and in addition to any every other right and remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Equipment Lease (Centennial Sepcialty Foods Corp)

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate If any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right after the expiration of the applicable Cure Period, lease or otherwise dispose at the option of Lessor, to terminate this Lease upon providing fifteen (15) days written notice if the default has not been cured by the expiration of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof fifteen (after deducting the estimated fair market value 15) day period. An Event of such item Default shall be deemed to have occurred at the expiration of the term of Cure Period if the applicable Lease, in default has not been cured by the case of a sale, or the rents due for any period beyond the scheduled expiration of such fifteen (15) day period. Additionally, if any Event of Default occurs, Lessor may, at its option, from time to time, without terminating this Lease, re-enter and re-let the Property, or any part thereof, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the case rents received on such re-letting shall be applied first to the expenses of such re-letting and collection including but not limited to, necessary renovation and alterations of the Property, reasonable attorneys fees, any real estate commissions paid, and thereafter toward payment of all sums due or to become due to Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other charges, at Lessor's option, Lessee shall pay Lessor any deficiency immediately upon demand therefore, notwithstanding that Lessor may have received periodic rental in excess of the periodic rental stipulated in this Lease in previous or subsequent rental periods, and Lessor may bring an action therefore as such deficiency shall arise. Nothing herein, however, shall be construed to require Lessor to re-enter and re-let the Property in any event. Lessor shall not, in any event, be required to pay Lessee any surplus of any subsequent lease sums received by Xxxxxx on a re-letting of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred said Property in connection therewith) towards excess of the Rent and other amounts due under such provided in this Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Lease Agreement

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and any time thereafter, Lessor may may, without notice, exercise one or more of the following remedies, as Lessor, in its sole discretion shall elect: (a1) Lessor may declare all unpaid payments under the Lease to be immediately due and payable; (2) terminate any or all of the Leases with respect Agreement as to any or all items of Equipment subject theretothe Equipment; (b3) Lessor may recover from Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of the Equipment wherever found, and for this purpose enter upon any or all items premises of Lessee and remove the Equipment, wherever the same may be located, without demand or notice, without any court order liability for suit, action or other process of law and without liability to Lessee for any damages occasioned proceedings by such taking of possession, and any such taking of possession shall not constitute a termination of any LeaseLessee; (d4) Lessor may demand that direct Lessee return any or all items of at its expense to promptly prepare the Equipment to Lessor in accordance with Paragraph 16for pickup by Lessor; and (e5) Lessor may pursue any other remedy available at law or in equityuse, includinghold, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such the Equipment or any item in a commercially reasonable manner, with or without notice and thereof on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of site specified on the applicable Lease, Agreement or any other location without affecting the obligations of Lessee as provided in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewithAgreement; (6) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained proceed by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor appropriate action either in law or in equity. Any repossession equity to enforce performance by Lessee of the terms of the Agreement or subsequent sale or lease to recover damages for the breach hereof; (7) apply the Security Deposit to payment of Lessor’s costs, expenses and attorney fees in enforcing the terms of the Agreement and to indemnify Lessor against any damages sustained by Lessor (provided, however, nothing herein shall be construed to mean that the recovery of damages by Lessor shall be limited to the amount of the Security Deposit); (8) exercise any item and all rights accruing to Lessor under any applicable law upon an Event of Default. In addition, Xxxxxx shall be entitled to recover immediately as damages, and not as a penalty, a sum equal to the aggregate of the following: (i) all unpaid payments as are due and payable for any items of Equipment shall not bar an action for a deficiency as herein provided, and up to the bringing date of an action or the entry of judgment against Lessee shall not bar repossession by Lessor's right to repossess any or all items of Equipment. 19.;

Appears in 1 contract

Samples: www.mobilemodular.com

REMEDIES OF LESSOR. At any time after If the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: Lessee (a) Lessor may terminate Does not pay in full when due any and all installments of rent and/or any other charge or all of payment herein reserved, included, or agreed to be treated or collected as rent and/or any other charge, expense, or cost herein agreed to be paid by the Leases with respect to any Lessee, or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due and Violates or fails to become due under perform or otherwise breaks any covenant or all of the Leasesagreement herein contained; or (c) Lessor may take possession Vacates the demised premises or removes or attempts to remove or manifests an intention to remove any goods or property therefrom otherwise than in the ordinary and usual course of any or all items of Equipment, wherever business without having first paid and satisfied the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; full for all rent and (e) Lessor other charges then due or that may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at thereafter become due until the expiration of the then current term, above mentioned; or (d) Becomes embarrassed or insolvent, or makes an assignment for the benefit of creditors, or if a petition in bankruptcy is filed by or against the Lessee, or a bill xx equity or other proceeding for the appointment of a receiver for the Lessee is filed, or if proceedings for reorganization or for composition with creditors under any State or Federal law be instituted by or against Lessee, or if the real or personal property of the Lessee shall be sold or levied upon by any Sheriff, Marsxxxx xx Constable; _________________ then and in any or either of said events, there shall be deemed to be a breach of this lease, and thereupon ipso facto and without entry or other action by Lessor; (1) The rent for the entire unexpired balance of the term of this lease, as well as all other charges, payments, costs and expenses herein agreed to be paid by the applicable Lease, in the case of a saleLessee, or at the rents due for option of Lessor any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such itempart thereof, and also all expensescosts and officers' commissions including watchmen's wages and further in- cluding the five percent chargeable by Act of Assembly to the Lessor, includingshall, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any and all installments of rent already due and payable and in arrears and/or any other remedy referred charge or payment herein reserved, included or agreed to be treated or collected as rent, and/or any other charge, expense or cost herein agreed no be paid by the Lessee which may be due and payable and in arrears, be taken to be due and payable and in arrears as if by the terms and provisions of this lease, the whole balance of unpaid rent and other charges, payments, taxes, costs and expenses were on that date payable in advance; and if this lease or otherwise available any part thereof is assigned, or if the premises or any part thereof is sub-let, Lessee hereby irrevocably constitutes and appoints Lessor Lessee's agent to Lessor collect the rents due by such assignee or sub-lessee and apply the same to the rent due hereunder without in law or in equity. Any repossession or subsequent sale or lease by Lessor any way affecting Lessee's obligation to pay any unpaid balance of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.rent due hereunder;

Appears in 1 contract

Samples: Lease Agreement (Patient Infosystems Inc)

REMEDIES OF LESSOR. At any time after If Lessee shall default in the occurrence payment of the rent reserved herein, or in the payment of any Event items of Defaultadditional rent or other monies, Lessor may exercise due hereunder, or any part of same, or Lessee shall default in the observance of any of the other terms, covenants and conditions of this lease; or if the demised premises must be abandoned, deserted or vacated, or if Lessee shall sublet the demised premises or assign this lease except as herein provided; or If Lessee shall make an assignment for the benefit of creditors, or file a voluntary petition in bankruptcy or be adjudicated bankrupt by any court and such adjudication shall not be vacated within thirty (30) days or Lessee takes the benefit of any insolvency act, or Lessee be dissolved voluntarily or involuntarily or have a receiver of Lessee's property appointed in any proceedings other than bankruptcy proceedings, and such appointment shall not be vacated within thirty (30) days after it has been made; then, upon the happening of any one or more of the following remedies: (a) defaults or events specified above, this lease and the term hereof shall at the option and election of the Lessor wholly cease and terminate, and thereupon or at any time thereafter, Lessor may terminate any re-enter said premises either by force or all otherwise and have possession of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor same and/or may recover from possession thereof by summary proceedings otherwise, but Lessee all Rent and other amounts then due and shall remain liable to become due under any Lessor. If Lessee shall default in the performance or all of the Leases; (c) Lessor may take possession observance of any term or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law condition in this lease and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; cure such default within such thirty (d30) day period and thereafter proceed with diligence to complete such cure Lessor may demand that may, but shall not be obligated to cure such default by Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16under this lease; and (e) whenever Lessor may pursue any other remedy available at law or in equityso elects all costs and expenses incurred by Lessor, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, including reasonable attorneys' fees, incurred in connection therewith) towards curing a default shall be paid by Lessee to Lessor on demand, together with interest thereon from the Rent and other amounts due under such Lease, with date of payment by Lessor to date of payment by Lessee. In the event of any excess net proceeds to be retained by Lessor. Each one or more of the remedies under defaults set out above, all payments of rent, additional rent during the term of this Lease shall lease, or any extension thereof, shall, at the option of Lessor, become immediately due and payable in full. Lessor may re-enter the demised premises using such force for the purpose as may be cumulativenecessary without being liable to any prosecution therefore, and not exclusive, Lessor may repair or alter the demised premises in such manner as to Lessor may seem necessary or advisable to re-let the demised premises. The Lessor has the right to re-let said premises and to collect any deficiency in re-letting in addition to any other remedy referred reasonable expenses incurred, however, the Lessee's obligation to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or pay damages must survive the termination of this lease and the election by Lessor of any item single remedy does not preclude the use of Equipment shall any other remedy whether or not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipmentmentioned in this lease. 19.Authentisign ID: DCFD1B96-00A0-4A07-B29D-6B19ABC210CF

Appears in 1 contract

Samples: Office Lease

REMEDIES OF LESSOR. At any time after the occurrence of any Event of Default, Lessor may exercise one or more of the following remedies: (a) Lessor may terminate any or all of the Leases with respect to any or all items of Equipment subject thereto; (b) Lessor may recover from form Lessee all Rent and other amounts then due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the Equipment, Lessor shall sell, lease or otherwise dispose of such item in a commercially reasonable manner, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessorlessor. Each of the remedies under this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19.

Appears in 1 contract

Samples: Master Lease Agreement (Grace Development Inc)

REMEDIES OF LESSOR. At any time after the occurrence of 1) If any Event of DefaultDefault occurs, the Lessor may exercise one or more shall have the right, at the option of the following remedies: Lessor, to terminate this Lease upon three (a3) Lessor may terminate any or all of the Leases with respect days written notice to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due Lessee, and to become due under any or all of the Leases; (c) Lessor may thereupon re-enter and take possession of any the Premises with or all items of Equipment, wherever the same may be located, without demand or notice, without any court order summary or other process legal process. If any Event of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right, lease at its option, from time to time, without terminating the Lease, to re-enter and re-let the Premises, or otherwise dispose of such item in a commercially reasonable mannerany part thereof, with or without notice legal process, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on public or private bid, and apply such re-letting shall be applied first to the net proceeds thereof (after deducting the estimated fair market value expenses of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, re-letting and all expenses, collection including, without limitationbut not limited to, necessary renovation and alterations to the Premises, reasonable attorneys' fees, incurred in connection therewith) towards any real estate commissions paid, and thereafter toward payment of all sums due or to become due to the Rent Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other amounts due under charges, (i) at Lessor’s option, Lessee shall pay Lessor any deficiency monthly, notwithstanding Lessor may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Lessor may bring an action therefor as such monthly deficiency shall arise, or (ii) at Lessor’s option, the entire deficiency, which is subject to ascertainment for the remaining term of this Lease, with any excess net proceeds shall be immediately due and payable to be retained by Lessor. Each Nothing herein, however, shall be construed to require Lessor to re-enter or re-let the Premises or any portion thereof in any event. The Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the remedies under rent provided in this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19Lease.

Appears in 1 contract

Samples: Lease Agreement (Ameripath Inc)

REMEDIES OF LESSOR. At any time after the occurrence of 1) If any Event of DefaultDefault occurs, the Lessor may exercise one or more shall have the right, at the option of the following remedies: Lessor, to terminate this Lease upon three (a3) Lessor may terminate any or all of the Leases with respect days written notice to any or all items of Equipment subject thereto; (b) Lessor may recover from Lessee all Rent and other amounts then due Lessee, and to become due under any or all of the Leases; (c) Lessor may thereupon re-enter and take possession of any the Premises with or all items of Equipment, wherever the same may be located, without demand or notice, without any court order summary or other process legal process. If any Event of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentDefault occurs, Lessor shall sellhave the right, lease at its option, from time to time, without terminating the Lease, to re-enter and re-let the Premises, or otherwise dispose of such item in a commercially reasonable mannerany part thereof, with or without notice legal process, as the agent and for the account of Lessee upon such terms and conditions as Lessor may deem advisable or satisfactory, in which event the rents received on public or private bid, and apply such re- letting shall be applied first to the net proceeds thereof (after deducting the estimated fair market value expenses of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent lease of such item, re-letting and all expenses, collection including, without limitationbut not limited to, necessary renovation and alterations to the Premises, reasonable attorneys' fees, incurred in connection therewith) towards any real estate commissions paid, and thereafter toward payment of all sums due or to become due to the Rent Lessor hereunder, and if a sufficient sum shall not be thus realized or secured to pay such sums and other amounts due under charges, (i) at Lessor's option, Lessee shall pay Lessor any deficiency monthly, notwithstanding Lessor may have received rental in excess of the rental stipulated in this Lease in previous or subsequent months, and Lessor may bring an action therefor as such monthly deficiency shall arise, or (ii) at Lessor's option, the entire deficiency, which is subject to ascertainment for the remaining term of this Lease, with any excess net proceeds shall be immediately due and payable to be retained by Lessor. Each Nothing herein, however, shall be construed to require Lessor to re-enter or re-let the Premises or any portion thereof in any event. The Lessor shall not, in any event, be required to pay Lessee any surplus of any sums received by Lessor on a re-letting of said Premises in excess of the remedies under rent provided in this Lease shall be cumulative, and not exclusive, and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess any or all items of Equipment. 19Lease.

Appears in 1 contract

Samples: Lease Agreement (Top Source Technologies Inc)

REMEDIES OF LESSOR. At any time after the Upon each occurrence of any an Event of DefaultDefault and so long as such Event of Default shall be continuing, Lessor may exercise one at any time thereafter at its election terminate this Lease and Lessee's right of possession (but Lessee shall remain liable as hereinafter provided), and/or pursue any other remedies at law or more in equity. Upon the termination of this Lease and Lessee's right of possession, it shall be lawful for Lessor to re-enter the following remedies: (a) Space by summary dispossession proceedings or any other action or proceeding authorized by law and to remove Lessee and all persons and property therefrom. If Lessor may terminate any re-enters the Space, Lessor shall have the right to keep in place and use, or remove and store, all of the Leases with respect to any or all items furniture, fixtures and equipment at the Space. Upon Lessor's termination of Equipment subject thereto; (b) this Lease, Lessor may recover from Lessee the sum of: all Rent, Additional Rent and all other amounts accrued hereunder to the date of such termination; the cost of reletting the whole or any part of the Space, including without limitation brokerage fees and/or leasing commissions incurred by Lessor, and costs of removing and storing Lessee's or any other occupant's property, repairing, altering, remodeling, or otherwise putting the Space into condition acceptable to a new tenant or tenants, and all reasonable expenses incurred by Lessor in pursuing its remedies, including reasonable attorneys' fees and court costs. If the Space is relet and a sufficient sum shall not be realized from such reletting [after first deducting therefrom, for retention by Lessor, the unpaid Rent, Additional Rent and other amounts then due accrued hereunder at the time of reletting, the cost of recovering possession (including reasonable attorneys' fees and to become due under any or costs of suit), all of the Leases; costs and expenses of repairs, changes, alterations, and additions, the expense of such reletting (cincluding without limitation brokerage fees and leasing commissions) and the cost of collection of the Rent and Additional Rent accruing therefrom] to satisfy the Rent provided for in this Lease to be paid, then Lessee shall immediately satisfy and pay any such deficiency. Exercise by Lessor may take possession of any one or all items of Equipment, wherever the same may be located, without demand more remedies hereunder granted or notice, without any court order or other process of law and without liability to Lessee for any damages occasioned by such taking of possession, and any such taking of possession otherwise available shall not constitute be deemed to be an acceptance of surrender of the Space and/or a termination of this Lease by Lessor, whether by agreement or by operation of law. Any law, usage, or custom to the contrary notwithstanding, Lessor shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Lessor at any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment time to Lessor enforce its rights under this Lease strictly in accordance with Paragraph 16; same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and (e) covenants of this Lease or as having modified the same. Lessee and Lessor may pursue any other remedy available further agree that forbearance or waiver by Lessor to enforce its rights pursuant to this Lease or at law or in equity, including, without limitation, seeking damages, specific performance shall not be a waiver of Lessor's right to enforce one or an injunctionmore of its rights in connection with any subsequent default. Upon repossession A receipt by Lessor of rent or return other payment with knowledge of the breach of any item term or covenant of the Equipment, Lessor this Lease shall sell, lease or otherwise dispose not be deemed a waiver of such item in a commercially reasonable mannerbreach, with or without notice and on public or private bid, and apply the net proceeds thereof (after deducting the estimated fair market value of such item at the expiration of the term of the applicable Lease, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case an no waiver by Lessor of any subsequent lease provision of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained by Lessor. Each of the remedies under this Lease shall be cumulativedeemed to have been made unless expressed in writing and signed by Lessor. To the greatest extent permitted by law, Lessee waives the service of notice of Lessor's intention to re-enter as provided for in any statute, or to institute legal proceedings to that end, and not exclusivealso waives all right of redemption in case Lessee shall be dispossessed by a judgment or by warrant of any court or judge. Any reletting of the Space shall be on such terms and conditions as Lessor in its sole discretion may determine (including without limitation a term different than the remaining Term, rental concessions, alterations and in addition repair of the Space, lease of less than the entire Space to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of Equipment shall not bar an action for a deficiency as herein provided, tenant and the bringing of an action or the entry of judgment against Lessee shall not bar Lessor's right to repossess leasing any or all items other portions of Equipmentthe Building before reletting the Space). 19Lessor shall not be liable, nor shall Lessee's obligations hereunder be diminished because of, Lessor's failure to relet the Space or collect Rent due in respect of such reletting.

Appears in 1 contract

Samples: Lease Agreement (Dialysis Corp of America)

REMEDIES OF LESSOR. At any time after Upon the occurrence of any Event of DefaultDefault and at any time thereafter, Lessor may without any further notice exercise one or more of the following remedies, as Lessor in its sole discretion shall elect: (a) Lessor may terminate any or declare all of the Leases with respect unpaid rentals under this Lease to be immediately due and payable: (b) cancel this Lease as to any or all items of the Equipment; (c) take possession of the Equipment subject theretowherever found, and for this purpose enter upon any premises of Lessee (Lessee hereby authorizes and empowers Lessor and its agents to enter upon such premises wherever the Equipment may be found) and remove the Equipment, without any liability for suit, action or other proceeding by the Lessee and remove the same; (d) cause Lessee at its expense to promptly return the Equipment to Lessor at any location in the continental United States specified by Lessor and in the condition set forth above; (e) use, hold or otherwise dispose of the Equipment or any item thereof on the premises of Lessee or any other location without affecting the obligations of Lessee as provided in this Lease; (f) sell or lease the Equipment or any part thereof, at public auction or by private sale or lease at such time or times and upon such terms as Lessor may determine, free and clear of any rights of Lessee and, if notice thereof is required by law, any notice in writing of any such sale or lease by Lessor to Lessee not less than ten (10) days prior to the date thereof, shall constitute reasonable notice thereof to Lessee; (g) proceed by appropriate action either by law or in equity to enforce performance by Lessee of the applicable covenants of this Lease or to recover damages for the breach thereof; (h) exercise any and all rights accruing to a lessor under any applicable law upon a default by a lessee; (i) recover from Lessee the amount of payments immediately due and payable, if the default shall be for nonpayment of one or more but less than all of the payments called for herein, together with interest and any other sum owing because of default, without cancellation of the Lease or without waiver of the right of future payments to the Lessor under this Lease. In addition, Lessor shall be entitled to recover immediately, as liquidated damages, and not as a penalty, a sum equal to the aggregate of the following: (a) all unpaid rentals or other sums which are due and payable for any items of the Equipment up to the date of redelivery to or repossession by Lessor; (b) any expenses paid or incurred by Lessor may recover from Lessee in connection with the repossession, holding, repair, modification, upgrade and sale, lease or other disposition of the Equipment, including fifteen percent of all Rent amounts due as attorneys' fees (but not to exceed the amount of attorneys' fees that Lessor actually incurs), and other amounts then legal expenses; (c) all unpaid rentals due and to become due under any or all of the Leases; (c) Lessor may take possession of any or all items of Equipment, wherever the same may be located, without demand or notice, without any court order or other process of law and without liability to Lessee this Lease for any damages occasioned by such taking of possession, and any such taking of possession shall not constitute a termination of any Lease; (d) Lessor may demand that Lessee return any or all items of Equipment to Lessor in accordance with Paragraph 16; and (e) Lessor may pursue any other remedy available at law or in equity, including, without limitation, seeking damages, specific performance or an injunction. Upon repossession or return of any item of the EquipmentEquipment which Lessee fails to return to Lessor as provided above or converts or destroys, or which Lessor shall sellis unable to repossess; and (d) an amount equal to any excess of (i) all unpaid rentals for any item of the Equipment returned to or repossessed by Lessor from the date thereof to the end of the respective rental period therefor, lease or otherwise dispose discounted to present value at the then prevailing "Prime Rate" (as announced by NationsBank of such item in a commercially reasonable mannerGeorgia, with or without notice and on public or private bidN.A., and apply Atlanta, GA) over (ii) the net proceeds thereof (after deducting actually received by Lessor, to the estimated fair market value of such item at the expiration of the term of the applicable Leaseextent attributable to Lessee's former leasehold interest, in the case of a sale, or the rents due for any period beyond the scheduled expiration of such Lease, in the case of any subsequent sale thereof by Lessor or lease of such item, and all expenses, including, without limitation, reasonable attorneys' fees, incurred in connection therewith) towards the Rent and other amounts due under such Lease, with any excess net proceeds to be retained thereof by Lessor, discounted at such rate. Each None of the remedies under this Lease are intended to be exclusive, but each shall be cumulative, and not exclusive, cumulative and in addition to any other remedy referred to herein or otherwise available to Lessor in law or in equity. Any repossession or subsequent sale or lease by Lessor of any item of the Equipment shall not bar an action for a deficiency as herein provided, and the bringing of an action or the entry of judgment against the Lessee shall not bar the Lessor's right to repossess any or all items of the Equipment. 19.

Appears in 1 contract

Samples: Lease Agreement (Integral Systems Inc /Md/)

Time is Money Join Law Insider Premium to draft better contracts faster.