Termination Damages. If the Term of this Lease is terminated for default, unless and until Landlord elects lump sum liquidated damages described in the next paragraph, Tenant covenants, as an additional, cumulative obligation after any such termination, to pay punctually to Landlord all the sums and perform all of its obligations in the same manner as if the Term had not been terminated. In calculating such amounts Tenant will be credited with the net proceeds of any rent then actually received by Landlord from a reletting of the Premises after deducting all Rent that has not then been paid by Tenant, provided that Tenant shall never be entitled to receive any portion of the re-letting proceeds, even if the same exceed the Rent originally due hereunder.
Termination Damages. If this Agreement is terminated as a result of an Event of Default by one of the Parties, termination damages shall be determined. The amount of termination damages shall be calculated by the non-defaulting Party within a reasonable period after termination of the Agreement. Amounts owed pursuant to this section shall be due within five (5) Business Days after the non-defaulting Party gives the defaulting Party notice of the amount due. The non-defaulting Party shall under no circumstances be required to account for or otherwise credit or pay the defaulting Party for economic benefits accruing to the non-defaulting Party as a result of the defaulting Party's default.
Termination Damages. (a) If this Agreement is terminated by Seller as provided in Section 13.01(b), then Seller shall retain the Deposit as liquidated damages on account of such termination, which remedy upon such a termination by Seller shall be the sole and exclusive remedy available to Seller. Buyer and Seller acknowledge and agree that (i) Seller's actual damages upon such a termination are difficult to ascertain with any certainty, (ii) that the Deposit is a reasonable estimate of such actual damages and (iii) such liquidated damages do not constitute a penalty.
Termination Damages. Should User be found in violation of any of the provisions of this Rental Agreement, The Town of Salem NY (The Georgi) shall have the option, in its sole discretion to terminate the Agreement and User will forfeit all payments previously made to The Town of Salem NY (The Georgi) and shall remain liable for all rental fees and other expenses including legal fees incurred, whether or not the event actually occurs. Any and all legal proceedings shall be held in Salem, NY Town Court. Additionally, future events scheduled at facilities operated by The Town of Salem NY (The Georgi) may be cancelled at the sole discretion of The Town of Salem NY (The Georgi).
Termination Damages. The amount, if any, by which (1) the unpaid Base Rent and Variable Rent (as calculated below) payable under this Lease which would have been earned after termination for the balance of the Term (had this Lease not been terminated and without giving effect to any unexercised extension options), discounted to present value at the Discount Rate exceeds (2) the Fair Market Rent for such period, also discounted to present value at the Discount Rate. The Variable Rent which would have been earned after termination for the balance of the Term under (1) above, shall be calculated based on the average Variable Rent payable during the one year period prior to the termination of this Lease; and
Termination Damages. (a) If all conditions precedent to the obligations of Purchaser set forth in Article 11 have been met and the transactions contemplated by this Agreement are not consummated on or before the Closing Date because of the negligent or willful failure of Purchaser to perform any of its obligations hereunder in any material respect, or the material breach of any representation or warranty herein by Purchaser, then in such event, Sellers shall have the option to terminate this Agreement, in which case Sellers may pursue all available legal and equitable remedies.
Termination Damages. (a) If all conditions precedent to the obligations of Grantee set forth in Article 9 have been met and the transactions contemplated by this Agreement are not consummated on or before the Closing Date because of the negligent or willful failure of Grantee to perform any of its obligations hereunder in any material respect, or the material breach of any representation or warranty herein by Grantee, then in such event, Grantor shall have the option to terminate this Agreement, in which case Grantor may pursue all available legal and equitable remedies.
Termination Damages. If this Agreement is terminated as a result of an Event of Default by one of the Parties, then the Non-Defaulting Party shall be entitled to exercise all rights and remedies provided for in this Agreement or available at law or in equity. Notwithstanding anything to the contrary contained in this Agreement, the Non-Defaulting Party shall under no circumstances be required to account for or otherwise credit or pay the Defaulting Party for economic benefits accruing to the Non-Defaulting Party as a result of the Defaulting Party’s Event of Default.
Termination Damages. If this Lease is terminated for default, then unless and until Landlord elects lump sum damages described in (c) below Tenant covenants, as an additional cumulative obligation after any such termination, to pay punctually to Landlord all the sums and perform all the obligations which Tenant covenants in this Lease to pay and to perform in the same manner and to the same extent and at the same time as if this Lease had not been terminated. In calculating the amounts to be paid by Tenant pursuant to the preceding sentence Tenant shall be credited with the net proceeds of any rent then actually received by Landlord from a reletting of the Premises after deducting all sums provided for in this Lease to be paid by Xxxxxx and not then paid. -86-
Termination Damages. If Licensee elects to terminate this SLA due to the Judicial Council’s default, Licensee shall fulfill its obligation under section 11.1 of this SLA and thereafter the Judicial Council shall pay Licensee Actual Damages.
