Common use of Terminate Lease Clause in Contracts

Terminate Lease. Terminate Tenant's right to possession by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including without limitation thereto, the following: (i) The worth at the time of award of any unpaid Rent which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair or necessary alterations to the Premises for such reletting, (D) leasing commissions, and (E) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state law. Upon any such reentry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(i) the "worth at the time of award" is computed by allowing interest at the rate of fifteen percent (15%) per year from the date of default. As used in Subsections 27(b)(a) and 27(b)(iii) the "worth at the time of award" is computed by discounting such amounts at the discount rate of eight percent (8%) per year.

Appears in 3 contracts

Samples: Office Lease (Watchguard Technologies Inc), Office Lease (Watchguard Technologies Inc), Office Lease (Watchguard Technologies Inc)

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Terminate Lease. Terminate Tenant's right to possession by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including without limitation thereto, the following: (i) The worth at the time of award of any unpaid Rent which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, including without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's attorney fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair repairs or necessary alterations to the Premises for such reletting, (D) leasing commissions, and (E) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state law. Upon any such reentry re-entry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(i) the "worth at the time of award" is computed by allowing interest at the rate of fifteen eighteen percent (1518%) per year from the date of default. As used in Subsections 27(b)(a27(b)(ii) and 27(b)(iii) the "worth at the time of award" is computed by discounting such amounts at the discount rate of eight percent (8%) per year.

Appears in 2 contracts

Samples: Loudeye Technologies Inc, Amazon Com Inc

Terminate Lease. Terminate Tenant's Landlord shall have the right to possession by any lawful means, in which case terminate this Lease shall terminate and all rights of Tenant shall immediately surrender possession of hereunder by giving written notice to Tenant. If the Premises to Landlord. In such event Lease is so terminated, then Landlord shall be entitled to may recover from Tenant all damages incurred by Landlord by reason of Tenant's default including without limitation thereto, the following: (i) The the worth at the time of award of any unpaid Rent which rent that had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid Rent rent which would have been earned after from the time of such termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid Rent rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved Tenant proves could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment actual and consequential damages proximately caused by Tenant's ’s failure to perform its Tenant’s obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair or necessary alterations to the Premises for such reletting, (D) leasing commissions, and (E) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state law. Upon any such reentry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(iSubsections (A)(i) and (ii) above, the "worth at the time of award" is computed by allowing interest at the rate of fifteen percent (15%) per year from the date of defaultRemedy Rate. As used in Subsections 27(b)(aSubsection (A) and 27(b)(iii(iii) above, the "worth at the time of award" is computed by discounting such amounts amount at the discount rate of eight the Federal Reserve Bank of San Francisco at the time of award plus one percent (81%) per year). All amounts owing under this Subsection which are not paid when due shall bear interest at the Remedy Rate from the date owing until paid and such interest shall be compounded monthly.

Appears in 1 contract

Samples: Office Space Lease (Mellanox Technologies, Ltd.)

Terminate Lease. Terminate Landlord has the right to terminate this Lease at any time after an Event of Default has occurred, including at any time after Tenant's ’s right to possession has been terminated, by any lawful meansdelivering to Tenant a written notice expressly exercising Landlord’s right to terminate this Lease. If Landlord elects to terminate this Lease, in which case this Lease shall terminate Tenant’s right to possession of the Premises will terminate, to the extent it has not already terminated, Tenant must vacate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled in the condition this Lease requires upon the expiration of the Term, Landlord has the immediate right of entry and has the right to remove all persons and property from the Premises and all rights and remedies of a landlord under California Civil Code Section 1951.2 or any successor code section, and Tenant will pay to Landlord on demand, and Landlord has the right to recover from Tenant Tenant, all damages incurred by Landlord by reason incurs as a result of Tenant's default including ’s default, including, without limitation theretolimitation, the following: (i) The the cost of recovering the Premises, (ii) the worth at the time of award of any the unpaid Rent which that had been earned at the time of such termination; plus (iiiii) the worth at the time of award of the amount by which the unpaid Rent which that would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iiiiv) the worth at the time of the award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved Tenant proves could be reasonably avoided; plus and (ivv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’s failure to perform its obligations under this Lease or which that in the ordinary course of things events would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting from Tenant’s failure to a new tenant, including repair or necessary alterations to the Premises for such reletting, (D) leasing commissions, and (E) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state lawperform its obligations under this Lease. Upon any such reentry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(i) the "The “worth at the time of award" ” of the amounts referred to in clauses (ii) and (iii) of the preceding sentence is computed by allowing interest at the rate of fifteen percent (15%) 10% per year from the date of defaultannum. As used in Subsections 27(b)(a) and 27(b)(iii) the "The “worth at the time of award" is ” of the amount referred to in clause (iv) above will be computed by discounting such amounts amount at the discount rate of eight percent the Federal Reserve Bank of San Francisco at the time of award plus 1%. Tenant waives the provisions of Section 1179 of the California Code of Civil Procedure (8%) per yearwhich Section allows Tenant to petition a court of competent jurisdiction for relief against forfeiture of this Lease). Landlord may sore any property Landlord removes from the Premises in a public or private warehouse or elsewhere at the sole cost and expense of Tenant, which Tenant must pay within 10 days after demand. If Tenant does not pay the cost of storing such property after it has been stored for 30 days or more, Landlord has the right to sell any or all of the property at a public or private sale in such manner and at such times and places that Landlord, in its sole discretion, deems proper, without notice to or demand upon Tenant. Nothing in this Section 26 limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the maximum amount allowed by Law, regardless of whether such damages are greater than the amounts this Section obligates Tenant to pay. If the fair market rental value of the Premises for the remaining Term exceeds the Rent under this Lease, Landlord is solely entitled to receive the benefit of that excess after applying the excess to any remaining amounts Tenant owes under this Lease.

Appears in 1 contract

Samples: Lease Agreement (ServiceNow, Inc.)

Terminate Lease. Terminate Tenant's Landlord shall have the right to possession by any lawful means, in which case terminate this Lease shall terminate and all rights of Tenant shall immediately surrender possession of hereunder by giving written notice to Tenant. If the Premises to Landlord. In such event Lease is so terminated, then Landlord shall be entitled to may recover from Tenant all damages incurred by Landlord by reason of Tenant's default including without limitation thereto, the following: (i) The the worth at the time of award of any unpaid Rent which rent that had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid Rent rent which would have been earned after from the time of such termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid Rent rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved Tenant proves could be reasonably avoided; plus (iv) any other amount reasonably necessary to compensate Landlord for all the detriment actual and consequential damages proximately caused by Tenant's ’s failure to perform its Tenant’s obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair or necessary alterations to the Premises for such reletting, (D) leasing commissions, ; and (E) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's ’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state California law. Upon any such reentry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(iSubsections (A)(i) and (ii) above, the "worth at the time of award" is computed by allowing interest at the rate of fifteen ten percent (1510%) per year from annum (but in no event in excess of the date of defaultmaximum rate allowed by law). As used in Subsections 27(b)(aSubsection (A)(iii) and 27(b)(iii) above, the "worth at the time of award" is computed by discounting such amounts amount at the discount rate of eight the Federal Reserve Bank of San Francisco at the time of award plus one percent (81%). All amounts owing under this Subsection which are not paid when due shall bear interest at ten percent (10%) per yearannum (but in no event in excess of the maximum rate allowed by law) from the date owing until paid and such interest shall be compounded monthly.

Appears in 1 contract

Samples: Lease (Amphastar Pharmaceuticals, Inc.)

Terminate Lease. Terminate Tenant's right to possession by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including without limitation thereto, the following: (i) The worth at the time of award of any unpaid Rent which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, including without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's attorney fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair repairs or necessary alterations to the Premises for such reletting, (D) leasing commissions, and (E) any other costs necessary or appropriate to relet rent the Premises; plus (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state law. Upon any such reentry re-entry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(i22(b)(i) the "worth at the time of award" is computed by allowing interest at the rate of fifteen eighteen percent (1518%) per year from the date of default. As used in Subsections 27(b)(a22(b)(ii) and 27(b)(iii22(b)(iii) the "worth at the time of award" is computed by discounting such amounts at the discount rate of eight percent (8%) per year.

Appears in 1 contract

Samples: Microvision Inc

Terminate Lease. Terminate Tenant's ’s right to possession by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's ’s default including without limitation thereto, the following: (i) The worth at the time of award of any unpaid Rent which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of or award exceeds the amount of or such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, . Including without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's attorney fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair repairs or necessary alterations to the Premises for such reletting, (D) leasing commissionscommissions incident to reletting to a new tenant, and (E) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's ’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state law. The amounts described in clauses (C) and (D) shall be amortized over the term of the new tenant’s lease, and Tenant shall only be liable to Landlord for the portion of such amounts attributable to the period prior to the Expiration Date of this Lease set forth in Section 1. Upon any such reentry re-entry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(i) the "worth at the time of award" is computed by allowing interest at the rate of fifteen percent (15%) per year from the date of default. As used in Subsections 27(b)(a27(b)(ii) and 27(b)(iii) the "worth at the time of award" is computed by discounting such amounts at the discount rate of eight percent (8%) per year.

Appears in 1 contract

Samples: Lease (iVOW, Inc.)

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Terminate Lease. Terminate Landlord may terminate this Lease at any time an Event of Default exists, including at any time after Tenant's ’s right to possession has been terminated, by any lawful means, in which case a written notice to Tenant that expressly terminates this Lease. If Landlord terminates this Lease shall terminate and Tenant shall immediately has not already surrendered possession of the premises: (1) Tenant’s right to possession of the premises will terminate; (2) Tenant agrees to vacate and surrender possession of the Premises premises to Landlord. In such event Landlord shall be entitled in the condition this Lease requires at the end of the term; (3) Landlord has the immediate right of entry and may remove all persons and property from the premises and exercise all rights and remedies of a landlord under California Civil Code Section 1951.2 or any successor code section; and (4) Tenant agrees to recover from Tenant pay Landlord on demand all damages incurred by Landlord by reason incurs as a result of Tenant's default ’s default, including without limitation thereto(a) the cost of recovering the premises, (b) the following: (i) The worth at the time of award of any the unpaid Rent which rent that had been earned at the time of such termination; plus , (iic) the worth at the time of award of the amount by which the unpaid Rent which rent that would have been earned after termination until the time of award exceeds the amount of such rental rent loss that Tenant proves could have been reasonably avoided; plus , (iiid) the worth at the time of the award of the amount by which the unpaid Rent rent for the balance of the Term term after the time of award exceeds the amount of such rental rent loss that is proved Tenant proves could be reasonably avoided; plus , and (ive) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’s failure to perform its obligations under this Lease or which that in the ordinary course of things events would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting from Tenant’s failure to a new tenant, including repair or necessary alterations to the Premises for such reletting, (D) leasing commissions, and (E) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state lawperform its obligations under this Lease. Upon any such reentry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(i) the "The “worth at the time of award" ” of the amounts referred to in clauses (b) and (c) of the preceding sentence is computed by allowing interest at the rate of fifteen percent (15%) 1% per year from the date of defaultmonth. As used in Subsections 27(b)(a) and 27(b)(iii) the "The “worth at the time of award" is ” of the amount referred to in clause (d) above will be computed by discounting such amounts amount at the discount rate of eight percent (8%) the Federal Reserve Bank of San Francisco at the time of award plus 1% per year. Tenant waives Section 1179 of the California Code of Civil Procedure, which allows Tenant to petition a court of competent jurisdiction for relief against forfeiture of this Lease. Landlord may store any property Landlord removes from the premises in a public or private warehouse or anywhere else at Tenant’s sole cost, which Tenant agrees to pay within 10 days after demand. If Tenant does not pay the cost of storing such property after it has been stored for 30 days or more, Landlord may sell any or all of the property at a public or private sale in any manner and at any times and places that Landlord, in its sole discretion, deems proper, without notice to or demand upon Tenant. Nothing in this section 25 limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the maximum amount allowed by law, regardless of whether such damages are greater than the amounts this section obligates Tenant to pay. If the fair market rental value of the premises for the remaining term exceeds the rent under this Lease, Landlord is solely entitled to the excess without offset against any amounts Tenant owes under this Lease.

Appears in 1 contract

Samples: ADESTO TECHNOLOGIES Corp

Terminate Lease. Terminate Tenant's right to possession by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including without limitation thereto, the following: (i) The worth at the time of award of any unpaid Rent which had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations Obligations under this Lease or which in the ordinary course of things would be likely to result therefromLease, including, including without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's attorney fees therefortherefore, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair repairs or necessary alterations to the Premises for such reletting, (D) leasing commissionscommissions incident to reletting to a new tenant, and (E) any other costs necessary or appropriate to relet the Premises; plus (viv) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state law. The amounts described in clauses (C) and (D) shall be amortized over the term of the new tenant’s lease, and Tenant shall only be liable to Landlord for the portion of such amounts attributable to the period prior to the Expiration Date of this Lease set forth in Section 1. Upon any such reentry re-entry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(i) Section 28.2 the "worth at the time of award" is computed by allowing interest at the rate of fifteen eight percent (158%) per year from the date of default. As used in Subsections 27(b)(a) and 27(b)(iii) the "worth at the time of award" is computed by discounting such amounts at the discount rate of eight percent (8%) per year.

Appears in 1 contract

Samples: Lease Agreement (Lmi Aerospace Inc)

Terminate Lease. Terminate Tenant's Landlord shall have the right to possession by any lawful means, in which case terminate --------------- this Lease shall terminate and all rights of Tenant shall immediately surrender possession of hereunder by giving written notice to Tenant. If the Premises to Landlord. In such event Lease is so terminated, then Landlord shall be entitled to may recover from Tenant all damages incurred by Landlord by reason of Tenant's default including without limitation thereto, the following: (i) The the worth at the time of award of any unpaid Rent which rent that had been earned at the time of such termination; plus (ii) the worth at the time of award of the amount by which the unpaid Rent rent which would have been earned after from the time of such termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth at the time of award of the amount by which the unpaid Rent rent for the balance of the Term after the time of award exceeds the amount of such rental loss that is proved Tenant proves could be reasonably avoided; plus (iv) any other amount necessary to compensate Landlord for all the detriment actual and consequential damages proximately caused by Tenant's failure to perform its Tenant's obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair or necessary alterations to the Premises for such reletting, (D) leasing commissions, ; and (E) any other costs necessary or appropriate to relet the Premises; plus (v) at Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state Colorado law. Upon any such reentry Landlord shall have the right to make any reasonable repairs, alterations or modifications to the Premises, which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(iSubsections (A)(i) and (ii) above, the "worth at the time of award" is computed by allowing interest at the rate of fifteen percent (15%) per year from the date of defaultRemedy Rate. As used in Subsections 27(b)(aSubsection (A)(iii) and 27(b)(iii) above, the "worth at the time of award" is computed by discounting such amounts amount at the discount rate of eight the Federal Reserve Bank of Kansas City at the time of award plus one percent (81%) per year). All amounts owing under this Subsection which are not paid when due shall bear interest at the Remedy Rate from the date owing until paid and such interest shall be compounded monthly.

Appears in 1 contract

Samples: Colorado Business Bankshares Inc

Terminate Lease. Terminate Tenant's ’s right to possession by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default including ’s Default, including, without limitation thereto, the following: (ia) The the worth at the time of award of any unpaid Rent rent which had been earned at the time of such termination; plus (iib) the worth at the time of award of the amount by which the unpaid Rent rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves is proved could have been reasonably avoided; plus (iiic) the worth at the time of award of the amount by which the unpaid Rent rent for the balance of the Term term after the time of award exceeds the amount of such rental loss that is proved could be reasonably avoided; plus (ivd) any other amount reasonably necessary to compensate Landlord for all the detriment proximately caused by Tenant's ’s failure to perform its obligations under this Lease or which in the ordinary course of things events would be likely to result therefrom, including, without limitation, any costs or expenses incurred by Landlord in (A) retaking possession of the Premises, including reasonable attorney's fees therefor, (B) maintaining or preserving the Premises after such default, (C) preparing the Premises for reletting to a new tenant, including repair or necessary alterations to the Premises for such reletting, (D) leasing commissions, and (E) any other costs necessary or appropriate to relet the Premises; plus (ve) at Landlord's ’s election, such other reasonable amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable state lawLaw. Upon any such reentry re-entry, Landlord shall have the right to make any reasonable repairs, alterations alterations, or modifications modification to the Premises, Premises which Landlord in its sole discretion deems reasonable and necessary. As used in Subsection 27(b)(i(a) and (b) above, the "worth at the time of award" is computed by allowing interest at the rate of fifteen percent (15%) 10% per year annum from the date of defaultDefault. As used in Subsections 27(b)(a(c) and 27(b)(iii) above, the "worth at the time of award" is computed by discounting such amounts amount at the discount rate of eight percent the Federal Reserve Bank of San Francisco at the time of award plus 1%. The term “rent,” as used in this sub-section 24.2.2, shall be deemed to be and to mean the Monthly Rent to be paid pursuant to this Lease and all other monetary sums required to be paid by Tenant pursuant to the terms of this Lease. All such amounts, other than Monthly Rent, as may become due in the future shall be computed on the basis of the average monthly amount thereof accruing during the immediately preceding twelve (8%12) per yearmonth period prior to Default, except that if it becomes necessary to compute such rent before such twelve (12) month period has occurred, then on the basis of the average monthly amount accruing during such shorter period.

Appears in 1 contract

Samples: PDR Lease (Skullcandy, Inc.)

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