Termination of Lease. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 3 contracts
Sources: Lease Agreement (iCap Vault 1, LLC), Lease Agreement (iCap Vault 1, LLC), Lease Agreement
Termination of Lease. Landlord may terminate Tenant▇▇▇▇▇▇’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: :
(i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant▇▇▇▇▇▇’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described in Section 20(b) below.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement
Termination of Lease. Landlord may terminate Tenant’s interest under Subject to Article 17, as applicable, Lessor shall have the Lease, but no act by Landlord other than notice of termination from Landlord right to Tenant shall terminate this LeaseLease and all rights of Tenant hereunder including ▇▇▇▇▇▇’s right to possession of the Premises. The Lease In the event that Lessor shall elect to so terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord then Lessor may accelerate Tenant’s obligations under the Lease and recover from Tenant: :
(ia) The worth at the time of award of the unpaid rent Rent and other charges, which had been earned as of the date of the termination hereof; plus
(b) The worth at the time of termination; (ii) award of the amount by which the unpaid rent Rent and other charges which would have been earned after the date of the termination hereof until the time of award exceeds the amount of rent such rental loss that Tenant ▇▇▇▇▇▇ proves could reasonably have been reasonably avoided; plus
(iiic) The worth at the time of award of the amount by which the unpaid rent Rent and other charges for the balance of the term of the Lease Term hereof after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably be avoided avoided; plus
(discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (ivd) any Any other amount necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant▇▇▇▇▇▇’s failure to perform its obligations under the Lease, this Lease or which in the ordinary course of things would be likely to result from therefrom, including, but not limited to, the Event cost of Defaultrecovering possession of the Premises, expenses of reletting, including without limitation Reletting Expenses described belownecessary repair, renovation and alteration of the Premises, reasonable attorneys' fees, expert witness costs; plus
(e) Subject to the rights of any Leasehold Mortgagees and TCAC, the funds in the Capital Improvement Fund; plus
(f) Any other amount which Lessor may by law hereafter be permitted to recover from Tenant to compensate Lessor for the detriment caused by Tenant’s default as permitted under applicable California law.
Appears in 2 contracts
Sources: Ground Lease, Ground Lease
Termination of Lease. Terminate this Lease by giving Tenant written notice thereof, in which event Tenant shall immediately surrender the Premises to Landlord and Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) the worth at the time of award of any unpaid rent 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 Rent which would have been earned after termination until the time of award exceeds the amount of rent such Rent loss that Tenant proves reasonably could reasonably have been 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 of the Lease Term after the time of award exceeds the amount of rent such Rent loss that Tenant proves reasonably could reasonably be avoided avoided; plus (iv) any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would be likely to result therefrom; 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 California law. As used in clauses (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the Default Rate. As used in clause (iii) above, the “worth at the time of award” is computed by discounting such amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); . Forbearance by Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such default. Tenant hereby waives for Tenant and (iv) any other amount necessary to compensate Landlord for all those claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, Tenant’s right of occupancy of the detriment proximately caused Premises after any termination of this Lease. If Landlord elects to proceed under this Section 18(a), Landlord may remove all of Tenant’s property from the Premises (which shall be deemed abandoned by Tenant’s failure ) and store the same in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, without becoming liable for any loss or damage which may be occasioned thereby. If and to perform the extent required by applicable Law, Landlord shall use commercially reasonable efforts to relet the Premises on such terms as Landlord in its obligations under the Lease, or which in the ordinary course would be likely to result sole discretion may determine (including a term different from the Event Term, rental concessions, and alterations to, and improvement of, the Premises); however, Landlord shall not be obligated to expend funds in connection with reletting the Premises, nor to relet the Premises before leasing other portions of Defaultthe Building, including without limitation Reletting Expenses described belowand Landlord shall not be obligated to accept any prospective tenant proposed by Tenant unless such proposed tenant meets all of Landlord’s leasing criteria. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder.
Appears in 2 contracts
Sources: Office Lease Agreement (Spruce Biosciences, Inc.), Office Lease Agreement (Spruce Biosciences, Inc.)
Termination of Lease. Should Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord elect to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal pursuant to the rent and other sums that would have been owing by Tenant under this Lease for the balance provisions of the Lease term, less the net proceeds, if any, subparagraphs (i) or (iii) of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternativelySection 13.1, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant, as damages, the following: (ia) the worth at the time of award of any unpaid rent which had been earned at the time of the termination; , plus (iib) 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 rent rental loss that Tenant proves could reasonably have been reasonably avoided; , plus (iiic) the worth at the time of award of the amount by which the unpaid rent for the balance of the term of the Lease Term after the time of award exceeds the amount of rent rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the awardavoided, plus 1%); and (ivd) any all other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Leasethis Lease or which, or which in the ordinary course of things, would be likely to result therefrom including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including, but not limited to, reasonable attorneys’ fees and court costs therefor, (ii) maintaining or preserving the Premises after any default, or (iii) any other costs necessary or appropriate to relet the Premises, plus (iv) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by Applicable Laws. As used in subparagraphs (a) and (b) of Section 13.2, the Event “worth at the time of Defaultaward” is computed by allowing interest at the lesser of the Interest Rate and the maximum lawful rate. As used in subparagraph (c) of Section 13.2, including without limitation Reletting Expenses described belowthe “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
Appears in 2 contracts
Sources: Lease (Neurocrine Biosciences Inc), Lease (Neurocrine Biosciences Inc)
Termination of Lease. Should Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord elect to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal pursuant to the rent and other sums that would have been owing by Tenant under this Lease for the balance provisions of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses Sections 19.1 (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent a) or other amounts would have been payable under the Lease, or alternatively(c) above, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant, as damages, the following: (ia) The worth at the time of award of any unpaid rent rental which had been earned at the time of the termination; , plus (iib) the worth at the time of award of the amount by which the unpaid rent rental which would have been earned after termination until the time of award exceeds the amount of rent rental loss that Tenant proves could reasonably have been reasonably avoided; , plus (iiic) the worth at the time of award of the amount by which the unpaid rent rental for the balance of the term of the Lease Term after the time of award exceeds the amount of rent rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the awardavoided, plus 1%); and (ivd) any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Leasethis Lease or which, or which in the ordinary course of things, would be likely to result from therefrom including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Event of DefaultPremises, including without limitation Reletting Expenses described belowreasonable attorneys' fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) leasing commissions, or (v) any other costs necessary or appropriate to relet the Premises, plus (e) at Landlord's election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of California. As used in subparagraphs (a) and (b) above, the "worth at the time of award" is computed by allowing interest at the maximum lawful rate. As used in subparagraph (c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Shopping Center at the time of award plus [***].
Appears in 2 contracts
Sources: Retail Space Lease (Silicon Entertainment Inc /Ca/), Retail Space Lease (Silicon Entertainment Inc /Ca/)
Termination of Lease. Landlord Lessor may terminate Tenant’s interest under the Leasethis Lease by notice to Lessee or any other lawful means, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate in which case this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting Lessee shall immediately surrender possession of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below)Lessor. Landlord In such event Lessor shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: Lessee:
(i) The worth at the time of award of the unpaid rent Rentals which had been earned at the time of termination; ;
(ii) The worth at the time of award of the amount by which the unpaid rent Rentals which would have been earned after termination until the time of award exceeds the amount of rent such rental loss that Tenant Lessee proves could reasonably have been reasonably avoided; ;
(iii) the amount by which the unpaid rent for the balance of the term of the Lease after The worth at the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (computed by discounting such amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the award, plus 1%)amount by which the unpaid Rentals for the balance of the Term after the time of award exceeds the amount of such rental loss that Lessee proves could be reasonably avoided; and and
(iv) any Any other amount amounts necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, default by Lessee or which in the ordinary course of events would be likely to result from the Event of Defaultresult, including without limitation the reasonable costs and expenses incurred by Lessor for:
(A) Retaking possession of the Premises;
(B) Cleaning and making repairs and alterations (including installation of leasehold improvements, whether or not the same shall be funded by a reduction of rent, direct payment or otherwise) necessary to return the Premises to good condition and preparing the Premises for reletting;
(C) Removing, transporting, and storing any of Lessee's property left at the Premises (although Lessor shall have no obligation to remove, transport, or store any of the property);
(D) Reletting Expenses described belowthe Premises, including without limitation, brokerage commissions, advertising costs, and attorneys' fees;
(E) Attorneys' fees, expert witness fees and court costs;
(F) Any unamortized real estate brokerage commissions paid in connection with this Lease; and
(G) Costs of carrying the Premises, such as repairs, maintenance, taxes and insurance premiums, utilities and security precautions, if any.
Appears in 2 contracts
Sources: Office Lease (Doubleclick Inc), Office Lease (Netgravity Inc)
Termination of Lease. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease termTerm, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent Rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent Rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent Rent which would have been earned after termination until the time of award exceeds the amount of rent Rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent Rent for the balance of the term of the Lease after the time of award exceeds the amount of rent Rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. Landlord may terminate Tenant’s interest under this Lease and recover possession of the Premises. Once Landlord has terminated this Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Leaseimmediately surrender the Premises to Landlord. The Lease shall terminate on the date specified in the notice of termination. Upon On termination of this Lease, Landlord may recover from Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance all of the Lease term, less following: (a) The worth at the net proceeds, if any, time of the award of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which Rent that had been earned at the time of the termination, to be computed by allowing interest at the rate set forth in Article 24 but in no case greater than the maximum amount of interest permitted by law; (iib) The worth at the time of the award of the amount by which the unpaid rent which Rent that would have been earned after termination until between the time of the termination and the time of the award exceeds the amount of rent loss unpaid Rent that Tenant proves could reasonably have been avoided, to be computed by allowing interest at the rate set forth in Article 24 but in no case greater than the maximum amount of interest permitted by law; (iiic) The worth at the time of the award of the amount by which the unpaid rent Rent for the balance of the term of the Lease Term after the time of the award exceeds the amount of rent loss unpaid Rent that Tenant proves could reasonably have been avoided, to be avoided (computed by discounting such that amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); and (ivd) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the this Lease, including brokerage commissions and advertising expenses, expenses of remodeling the Premises for a new tenant (whether for the same or which a different use), and any special concessions made to obtain a new tenant; and (e) Any other amounts, in the ordinary course would addition to or in lieu of those listed above, that may be likely to result from the Event of Default, including without limitation Reletting Expenses described belowpermitted by applicable law.
Appears in 1 contract
Sources: Office Lease (Inpixon)
Termination of Lease. Landlord may terminate Tenant’s interest under this Lease and recover possession of the Premises. Once Landlord has terminated this Lease, but no act by Landlord other than whether pursuant to a notice of termination from Landlord default deeming the Lease to be terminated if the cure is not performed during the specified period or by subsequent notice given after the default, Tenant shall terminate this Leaseimmediately surrender the Premises to Landlord. The Lease shall terminate on the date specified in the notice of termination. Upon On termination of this Lease, Landlord may recover from Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance all of the Lease term, less following:
(a) The worth at the net proceeds, if any, time of the award of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which Rent that had been earned at the time of the termination; , to be computed by allowing interest at the rate set forth in Article 24 but in no case greater than the maximum amount of interest permitted by law;
(iib) The worth at the time of the award of the amount by which the unpaid rent which Rent that would have been earned after termination until between the time of the termination and the time of the award exceeds the amount of rent loss unpaid Rent that Tenant proves could reasonably have been avoided; , to be computed by allowing interest at the rate set forth in Article 24 but in no case greater than the maximum amount of interest permitted by law;
(iiic) The worth at the time of the award of the amount by which the unpaid rent Rent for the balance of the term of the Lease Term after the time of the award exceeds the amount of rent loss unpaid Rent that Tenant proves could reasonably have been avoided, to be avoided (computed by discounting such that amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); and ;
(ivd) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the this Lease, including, without limitation, brokerage commissions and advertising expenses, expenses of remodeling the Premises for a new tenant (whether for the same or which a different use), and any special concessions made to obtain a new tenant; and
(e) Any other amounts, in the ordinary course would addition to or in lieu of those listed above, that may be likely to result from the Event of Default, including without limitation Reletting Expenses described belowpermitted by applicable law.
Appears in 1 contract
Sources: Lease (Spectranetics Corp)
Termination of Lease. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be he entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%)); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 21.2.
Appears in 1 contract
Termination of Lease. In case of an Event of Default by Tenant, Landlord may terminate Tenant’s interest shall have the right, in addition to all other rights available to Landlord under the Leasethis Lease or now or hereafter permitted by law or in equity, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the by providing Tenant with a notice of termination. Upon termination of termination, Landlord may recover any damages proximately caused by Tenant's failure to perform under this Lease, Tenant will remain liable or which are likely in the ordinary course of business to be incurred, including any amount expended or to be expended by Landlord for damages in an amount equal effort to mitigate damage, as well as any other damages which Landlord is entitled to recover under any statute now or hereafter in effect. Landlord's damages include, without limitation, the rent and other sums that would have been owing by Tenant under this Lease for following:
(1) the balance worth at the time of the Lease term, less the net proceeds, if any, award of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent Rent which had been earned at the time of termination; (ii2) the worth at the time of the award of the amount by which the unpaid rent Rent which would have been earned after termination until the time of the award exceeds the amount of rent the loss of such Rent that Tenant proves could reasonably have been reasonably avoided; and (iii3) the worth at the time of the award of the amount by which the unpaid rent Rent for the balance of the term of the Lease after the time of the award exceeds the amount of rent the loss of such Rent that Tenant proves could have been reasonably avoided. As used in subparagraphs (1) and (2) above, the "worth at the time of award" shall be avoided determined by allowing interest at the maximum rate of interest permitted by applicable law. As used in subparagraph (3), the "worth at the time of award" shall be determined by discounting to present value such amount by at one percent (1%) more than the discount rate of the Federal Reserve Bank of in San Francisco in effect at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Lease Agreement (Logic Devices Inc)
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 20b.
Appears in 1 contract
Sources: Lease Agreement (Healthetech Inc)
Termination of Lease. Landlord may terminate Tenant’s ▇▇▇▇▇▇'s interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant ▇▇▇▇▇▇ will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s ▇▇▇▇▇▇'s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of reasonable Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, Lease or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 22b.
Appears in 1 contract
Sources: Lease Agreement (Glu Mobile Inc)
Termination of Lease. Landlord may terminate Tenant’s interest under the LeaseLease and re-enter the Premises and take possession thereof, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease termTerm, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent Rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent Rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent Rent which would have been earned after termination until the time of award exceeds the amount of rent Rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent Rent for the balance of the term Term of the Lease after the time of award exceeds the amount of rent Rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%)); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 21.2.
Appears in 1 contract
Sources: Lease Agreement (Jones Soda Co)
Termination of Lease. Terminate this Lease by giving Tenant written notice thereof, in which event Tenant shall immediately surrender the Premises to Landlord and Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) the worth at the time of award of any unpaid rent 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 Rent which would have been earned after termination until the time of award exceeds the amount of rent such Rent loss that Tenant proves reasonably could reasonably have been 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 of the Lease Term after the time of award exceeds the amount of rent such Rent loss that Tenant proves reasonably could reasonably be avoided avoided; plus (iv) any other amount necessary to compensate Landlord for all detriment proximately caused by ▇▇▇▇▇▇’s failure to perform its obligations under this Lease or which in the ordinary course would be likely to result therefrom; 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 California law. As used in clauses (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the Default Rate. As used in clause (iii) above, the “worth at the time of award” is computed by discounting such amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); . Forbearance by Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such default. Tenant hereby waives for Tenant and (iv) any other amount necessary to compensate Landlord for all those claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, ▇▇▇▇▇▇’s right of occupancy of the detriment proximately caused Premises after any termination of this Lease. If Landlord elects to proceed under this Section 18(a), Landlord may remove all of Tenant’s property from the Premises (which shall be deemed abandoned by Tenant’s failure ) and store the same in a public warehouse or elsewhere at the cost of, and for the account of, Tenant, without becoming liable for any loss or damage which may be occasioned thereby. If and to perform the extent required by applicable Law, Landlord shall use commercially reasonable efforts to relet the Premises on such terms as Landlord in its obligations under the Lease, or which in the ordinary course would be likely to result sole discretion may determine (including a term different from the Event Term, rental concessions, and alterations to, and improvement of, the Premises); however, Landlord shall not be obligated to expend funds in connection with reletting the Premises, nor to relet the Premises before leasing other portions of Defaultthe Building, including without limitation Reletting Expenses described belowand Landlord shall not be obligated to accept any prospective tenant proposed by ▇▇▇▇▇▇ unless such proposed tenant meets all of Landlord’s leasing criteria. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder.
Appears in 1 contract
Sources: Lease Termination Agreement (Spruce Biosciences, Inc.)
Termination of Lease. Should Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord elect to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal pursuant to the rent and other sums that would have been owing by Tenant under this Lease for the balance provisions of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses Sections 19.1 (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent a) or other amounts would have been payable under the Lease, or alternatively(c) above, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant, as damages, the following: (ia) The worth at the time of award of any unpaid rent rental which had been earned at the time of the termination; , plus (iib) the worth at the time of award of the amount by which the unpaid rent rental which would have been earned after termination until the time of award exceeds the amount of rent rental loss that Tenant proves could reasonably have been reasonably avoided; , plus (iiic) the worth at the time of award of the amount by which the unpaid rent rental for the balance of the term of the Lease Term after the time of award exceeds the amount of rent rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the awardavoided, plus 1%); and (ivd) any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Leasethis Lease or which, or which in the ordinary course of things, would be likely to result from therefrom including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Event of DefaultPremises, including without limitation Reletting Expenses described belowreasonable attorneys' fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) leasing commissions, or (v) any other costs necessary or appropriate to relet the Premises, plus (e) at Landlord's election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of California. As used in subparagraphs (a) and (b) above, the "worth at the time of award" is computed by allowing interest at the maximum lawful rate. As used in subparagraph (c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Shopping Center at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Landlord may District shall have the right to terminate this Lease and all rights of Tenant hereunder including Tenant’s interest under right to possession of the Lease, but no act by Landlord other than notice of termination from Landlord Premises. In the event that District shall elect to Tenant shall so terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord then District may accelerate Tenant’s obligations under the Lease and recover from Tenant: :
(ia) The worth at the time of award of the unpaid rent Monthly Rent and other charges, which had been earned as of the date of the termination hereof; plus
(b) The worth at the time of termination; (ii) award of the amount by which the unpaid rent Monthly Rent and other charges which would have been earned after the date of the termination hereof until the time of award exceeds the amount of rent such rental loss that Tenant proves could reasonably have been reasonably avoided; plus
(iiic) The worth at the time of award of the amount by which the unpaid rent Monthly Rent and other charges for the balance of the term of the Lease hereof after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably avoided; plus
(d) Any other amount necessary to compensate District 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 avoided likely to result therefrom, including, but not limited to, the cost of recovering possession of the Premises, expenses of reletting, including necessary repair, renovation and alteration of the Premises, reasonable attorneys' fees, expert witness costs, and any other reasonable costs; plus
(e) Any other amount which District may by law hereafter be permitted to recover from Tenant to compensate District for the detriment caused by Tenant’s default. As used in Sections 11.2.1(a) and 11.2.1(b) above, the "worth at the time of award" shall be computed by allowing interest at the maximum rate permitted by law. As used in Sections 11.2.1 (c) above, the "worth at the time of award" shall be computed by discounting such amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); and (iv) any other amount necessary to compensate Landlord for all , but not in excess of the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowInterest Rate.
Appears in 1 contract
Sources: Ground Lease
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination terminations of this the Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this the Lease for the balance of the Lease termTerm, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below)Expenses. Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned Rent at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent Rent for the balance of the term Term of the Lease after the time of award exceeds less the amount of rent loss that Tenant proves could reasonably be avoided by Landlord (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iviii) any other amount necessary to fully compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform performs its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowlimitation.
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. In case of an Event of Default by Tenant, Landlord may terminate Tenant’s interest shall have the right, in addition to all other rights available to Landlord under the Leasethis Lease or now or hereafter permitted by law or in equity, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the by providing Tenant with a notice of termination. Upon termination of termination, Landlord may recover any damages proximately caused by Tenant's failure to perform under this Lease, Tenant will remain liable or which are likely in the ordinary course of business to be incurred, including any amount expended or to be expended by Landlord for damages in an amount equal effort to mitigate damages, as well as any other damages which Landlord is entitled to recover under any statute now or hereafter in effect. Landlord's damages include, without limitation, the rent and other sums that would have been owing by Tenant under this Lease for following:
(1) the balance worth at the time of the Lease term, less the net proceeds, if any, award of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent Rent which had been earned at the time of termination; ;
(ii2) the worth at the time of the award of the amount by which the unpaid rent Rent which would have been earned after termination until the time of the award exceeds the amount of rent the loss of such Rent that Tenant proves could reasonably have been reasonably avoided; and
(iii3) the worth at the time of the award of the amount by which the unpaid rent Rent for the balance of the term of the Lease after the time of the award exceeds the amount of rent the loss of such Rent that Tenant proves could have been reasonably avoided. As used in subparagraphs (1) and (2) above, the "worth at the time of award" shall be avoided determined by allowing interest at the maximum rate of interest permitted by applicable law. As used in subparagraph (3), the "worth at the time of award" shall be determined by discounting to present value such amount by at one percent (1%) more than the discount rate of the Federal Reserve Bank of in San Francisco in effect at the time of the award. Other than the foregoing, plus 1%); and (iv) any other amount necessary to compensate Landlord in no event shall Tenant be liable for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Leaseconsequential damages, opportunity costs, or which in the ordinary course would be likely to lost profits suffered by Landlord as a result from the Event of Default, including without limitation Reletting Expenses described belowany such claims.
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant▇▇▇▇▇▇’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease termTerm, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Defaultdefault, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Commercial Lease Agreement
Termination of Lease. In case of an Event of Default by Tenant, Landlord may terminate Tenant’s interest shall have the right, in addition to all other rights available to Landlord under the Leasethis Lease or now or hereafter permitted by law or in equity, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the by providing Tenant with a notice of termination. Upon termination of termination, Landlord may recover any damages proximately caused by Tenant's failure to perform under this Lease, Tenant will remain liable or which are likely in the ordinary course of business to be incurred, including any amount expended or to be expended by Landlord for damages in an amount equal effort to mitigate damages, as well as any other damages which Landlord is entitled to recover under any statute now or hereafter in effect. Landlord's damages include, without limitation, the rent and other sums that would have been owing by Tenant under this Lease for following:
(1) the balance worth at the time of the Lease term, less the net proceeds, if any, award of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent Rent which had been earned at the time of termination; ;
(ii2) the worth at the time of the award of the amount by which the unpaid rent Rent which would have been earned after termination until the time of the award exceeds the amount of rent the loss of such Rent that Tenant proves could reasonably have been reasonably avoided; and
(iii3) the worth at the time of the award of the amount by which the unpaid rent Rent for the balance of the term of the Lease after the time of the award exceeds the amount of rent the loss of such Rent that Tenant proves could have been reasonably avoided. As used in subparagraphs (1) and (2) above, the "worth at the time of award" shall be avoided determined by allowing interest at the maximum rate of interest permitted by applicable law. As used in subparagraph (3), the "worth at the time of award" shall be determined by discounting to present value such amount by at one percent (1%) more than the discount rate of the Federal Reserve Bank of in San Francisco in effect at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant’s interest under the LeaseTerminate this Lease and all rights of Tenant -------------------- hereunder by any lawful means, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate in which case this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, and Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting shall immediately surrender possession of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). In such event Landlord shall be entitled to either collect damages recover from Tenant monthly on the days on which rent or other amounts would have been payable under the Leaseall damages incurred by Landlord by reason of Tenant's default including, or alternativelybut not limited to, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (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 rent such rental loss that Tenant proves could reasonably 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 of the Lease after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, avoided; plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its Tenant's obligations under the Lease, this Lease or which in the ordinary course of events would be likely to result therefrom, including, but not limited to, the cost of recovering possession of the Premises, expenses of reletting, renovation and alteration of the Premises, reasonable attorney's fees, and any real estate commissions. The "worth at the time of award" for purposes of subsections (i) and (ii) above is computed by allowing interest at the maximum legal rate, and the "worth at the time of award" for purposes of subsection (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (x) taking possession of the Premises and recovering from Tenant the Event amount specified in this paragraph, or (y) proceeding under the provisions of Default, including without limitation Reletting Expenses described below.the following Article 24(b);
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Lease Agreement (Kush Bottles, Inc.)
Termination of Lease. If any such default by Tenant occurs, then in addition to any other remedies available to Landlord may terminate Tenant’s interest under at law or in equity, Landlord shall have the Lease, but no act by Landlord other than notice of termination from Landlord immediate option to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the and all rights of Tenant hereunder by giving Tenant a notice of termination. Upon termination of It Landlord so terminates this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, then Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: :
(ia) The worth at the time of award of any unpaid 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 which would have been earned after termination until the time of award exceeds the amount of rent such rental loss that Tenant proves could reasonably have been reasonably avoided; plus
(iiic) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of the Lease terms after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably avoided; plus
(d) Any other amount necessary to compensate Landlord for 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 avoided likely to result therefrom; plus
(e) Such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable California law. As used in subparagraphs (a) and (b) above, the "worth at the time of award" is computed by allowing interest from the date of termination until the time of award at the maximum rate allowable under state or federal law, or, if no such maximum rate applies, at the rate of 18 percent per annum. As used in subparagraph (c) above, the "worth at the time of award" is computed by discounting such amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 21b.
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant’s interest under the LeaseTerminate this Lease and all rights of -------------------- Tenant hereunder by any lawful means, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate in which case this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting ▇▇▇▇▇▇ shall immediately surrender possession of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). In such event Landlord shall be entitled to either collect damages recover from Tenant monthly on the days on which rent or other amounts would have been payable under the Leaseall damages incurred by Landlord by reason of Tenant' s default including, or alternativelybut not limited to, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (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 rent such rental loss that Tenant proves could reasonably 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 of the Lease after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, avoided; plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s ▇▇▇▇▇▇'s failure to perform its Tenant's obligations under the Lease, this Lease or which in the ordinary course of events would be likely to result therefrom, including, but not limited to, the cost of recovering possession of the Premises, expenses of reletting, renovation and alteration of the Premises, reasonable attorney's fees, and any real estate commissions actually paid. The "worth at the time of award" for purposes of subsections (i) and (ii) above is computed by allowing interest at the maximum legal rate, and the "worth at the time of award" for purposes of subsection (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1 %). In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (x) taking possession of the Premises and recovering from Tenant the Event amount specified in this paragraph, (y) proceeding under the provisions of Defaultthe following Article 24(b), including without limitation Reletting Expenses described below.and/or (z) exercise any other remedy allowed by law;
Appears in 1 contract
Sources: Office Lease (Portal Software Inc)
Termination of Lease. Landlord may terminate Tenant’s interest under the LeaseTerminate this Lease by giving Tenant written notice thereof, but no act by Landlord other than notice of termination from Landlord to in which event Tenant shall immediately surrender the Premises to Landlord. In the event that Landlord shall elect to so terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, then Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: :
(i) The worth at the time of award of any unpaid rent 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 Rent which would have been earned after termination until the time of award exceeds the amount of rent such Rent loss that Tenant proves reasonably could reasonably have been avoided; plus OFFICE LEASE AGREEMENT ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ Arcutis, Inc. 24
(iii) The worth at the time of award of the amount by which the unpaid rent Rent for the balance of the term of the Lease Term after the time of award exceeds the amount of rent such Rent loss that Tenant proves reasonably could reasonably be avoided avoided; plus
(iv) Any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would be likely to result therefrom, including all amounts due under Section 19(a); 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 California law. As used in subparagraphs (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the Default Rate. As used in subparagraph (iii) above, the “worth at the time of award” is computed by discounting such amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); . Forbearance by Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such default. Tenant hereby waives for Tenant and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused those claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by any legal process or writ, Tenant’s failure to perform its obligations under right of occupancy of the Premises after any termination of this Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Office Lease Agreement (Arcutis Biotherapeutics, Inc.)
Termination of Lease. Landlord may terminate Tenant’s interest under the LeaseTerminate this Lease and all rights of Tenant hereunder by any lawful means, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate in which case this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, and Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting shall immediately surrender possession of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). In such event Landlord shall be entitled to either collect damages recover from Tenant monthly on the days on which rent or other amounts would have been payable under the Leaseall damages incurred by Landlord by reason of Tenant's default including, or alternativelybut not limited to, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (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 rent such rental loss that Tenant proves could reasonably have been reasonably avoided; plus (iii) the worth at the time of aware of the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, avoided; plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s ▇▇▇▇▇▇'s failure to perform its Tenant's obligations under the Lease, this Lease or which in the ordinary course of events would be likely to result therefrom, including, but not limited to, the cost of recovering possession of the Premises, expenses of reletting, renovation and alteration of the Premises, reasonable attorney's fees, and any real estate commissions. The "worth at the time of award" for purposes of subsections (i) and (ii) above is computed by allowing interest at the maximum legal rate, and the "worth at the time of award" for purposes of subsection (iii) is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%). In the event Tenant shall have abandoned the Premises, Landlord shall have the option of (x) taking possession of the Premises and recovering from Tenant the Event amount specified in this paragraph, or (y) proceeding under the provisions of Default, including without limitation Reletting Expenses described below.the following Article 24(b);
Appears in 1 contract
Termination of Lease. Landlord Lessor may terminate Tenant’s Lessee's interest under the this Lease, but no act by Landlord Lessor other than written notice from Lessor to Lessee of termination from Landlord to Tenant shall terminate this Lease. The This Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant Lessee will remain liable to Landlord Lessor for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant Lessee under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord Lessor subsequent to the termination, after deducting all of Landlord’s Lessor's Reletting Expenses (as defined belowin Section 23.2). Landlord Lessor shall be entitled to either collect damages from Tenant Lessee monthly on the days on which rent Rent or other amounts would have been payable under the this Lease, or alternatively, Landlord Lessor may accelerate Tenant’s Lessee's obligations under the this Lease and recover from TenantLessee: (i) unpaid rent Rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent Rent which would have been earned after termination until the time of award exceeds the amount of rent Rent loss that Tenant Lessee proves could reasonably have been avoided; (iii) the amount by which the unpaid rent Rent for the balance of the term of the this Lease after the time of award exceeds the amount of rent Rent loss that Tenant Lessee proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord Lessor for all the detriment proximately caused by Tenant’s Lessee's failure to perform its obligations under the this Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 23.2.
Appears in 1 contract
Sources: Lease Agreement (Getty Images Inc)
Termination of Lease. Should Landlord elect to terminate this Lease pursuant to the provisions of clauses (a) or (c) of Section 17.1 above. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant, as damages, the following: (ia) the worth at the time of award of any unpaid rent rental which had been earned at the time of the termination; , plus (iib) the worth at the time of award of the amount by which the unpaid rent rental which would have been earned after termination until the time of award exceeds the amount of rent rental loss that Tenant proves could reasonably have been reasonably avoided; , plus (iiic) the worth at the time of award of the amount by which the unpaid rent rental for the balance of the term of the Lease Term after the time of award exceeds the amount of rent rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the awardavoided, plus 1%); and (ivd) any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Leasethis Lease or which, or which in the ordinary course of things, would be likely to result therefrom (specifically including, but not limited to, brokerage commissions applicable to the remaining Term of this Lease and advertising expenses incurred, reasonably necessary expenses of remodeling the Premises or any portion thereof for a new tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant) plus, at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the Event laws of Defaultthe State of California. As used in clauses (a) and (b) above, including without limitation Reletting Expenses described belowthe “worth at the time of award” is computed by allowing interest at the Interest Rate. As used in clause (c) above, the “worth at the time of award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Project at the time of award plus one percent (1 %).
Appears in 1 contract
Sources: Lease (Central Coast Bancorp)
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 20(b).
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that GNW/Warehouse Lease page 10 would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be he entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus one percent (1%)); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 21.2.
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. Landlord may terminate Tenant’s ▇▇▇▇▇▇'s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s ▇▇▇▇▇▇'s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described in Section 20(b) below.
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. Landlord may may, by written notice, terminate Tenant’s interest under this Lease and recover possession of the Premises. Once Landlord has terminated this Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Leaseimmediately surrender the Premises to Landlord. The Lease shall terminate on the date specified in the notice of termination. Upon On termination of this Lease, Landlord may recover from Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance all of the Lease term, less following: (a) the net proceeds, if any, worth at the time of the award of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which Rent that had been earned at the time of the termination, to be computed by allowing interest at the Default Rate (as defined below); (iib) the worth at the time of the award of the amount by which the unpaid rent which Rent that would have been earned after termination until between the time of the termination and the time of the award exceeds the amount of rent loss unpaid Rent that Tenant proves could reasonably have been avoided, to be computed by allowing interest at the Default Rate; (iiic) the worth at the time of the award of the amount by which the unpaid rent Rent for the balance of the term of the Lease lease Term after the time of the award exceeds the amount of rent loss unpaid Rent that Tenant proves could reasonably have been avoided, to be avoided (computed by discounting such that amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); and (ivd) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the this Lease, or which in the ordinary course of things would be likely to result from the Event therefrom; and (e) any other amounts, in addition to or in lieu of Defaultthose listed above, including without limitation Reletting Expenses described belowthat may be permitted by applicable law.
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: ; (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would LEASE AGREEMENT (SINGLE TENANT FOR ENTIRE PARCEL - TRIPLE NET) (CONTINUED) have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 20b.
Appears in 1 contract
Termination of Lease. If any such default by Tenant occurs, then in addition to any other remedies available to Landlord may terminate Tenant’s interest under at law or in equity, Landlord shall have the Lease, but no act by Landlord other than notice of termination from Landlord immediate option to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the and all rights of Tenant hereunder by giving Tenant a notice of termination. Upon termination of If Landlord so terminates this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, then Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: :
(ia) The worth at the time of award of any unpaid 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 which would have been earned after termination until the time of award exceeds the amount of rent such rental loss that Tenant proves could reasonably have been reasonably avoided; plus
(iiic) The worth at the time of award of the amount by which the unpaid rent for the balance of the term of the Lease terms after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably avoided; plus
(d) Any other amount necessary to compensate Landlord for 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 avoided likely to result therefrom; plus
(e) Such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable California law. As used in subparagraphs (a) and (b) above, the "worth at the time of award" is computed by allowing interest from the date of termination until the time of award at the maximum rate allowable under state or federal law, or, if no such maximum rate applies, at the rate of 18 percent per annum. As used in subparagraph (c) above, the "worth at the time of award" is computed by discounting such amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus 1one percent 0 %); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Lease Agreement (Ultimate Sports Entertainment Inc)
Termination of Lease. Should Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord elect to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal pursuant to the rent and other sums that would have been owing by Tenant under this Lease for the balance provisions of the Lease term, less the net proceeds, if any, clauses (a) or (c) of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternativelySection 17.1 above, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant, as damages, the following: (ia) the worth at the time of award of any unpaid rent rental which had been earned at the time of the termination; , plus (iib) the worth at the time of award of the amount by which the unpaid rent rental which would have been earned after termination until the time of award exceeds the amount of rent rental loss that Tenant proves could reasonably have been reasonably avoided; , plus (iiic) the worth at the time of award of the amount by which the unpaid rent rental for the balance of the term of the Lease Term after the time of award exceeds the amount of rent rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the awardavoided, plus 1%); and (ivd) any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Leasethis Lease or which, or which in the ordinary course of things, would be likely to result therefrom (specifically including, but not limited to, brokerage commissions applicable to the remaining Term of this Lease and advertising expenses incurred, reasonably necessary expenses of remodeling the Premises or any portion thereof for a new tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant) plus, at Landlord's election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the Event laws of Defaultthe State of California. As used in clauses (a) and (b) above, including without limitation Reletting Expenses described belowthe "worth at the time of award" is computed by allowing interest at the Interest Rate. As used in clause (c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Project at the time of award plus one percent (1%).
Appears in 1 contract
Sources: Lease (Central Coast Bancorp)
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Appears in 1 contract
Sources: Lease Agreement
Termination of Lease. Landlord may terminate Tenant’s interest under Subject to Section 17.5, as applicable, District shall have the Lease, but no act by Landlord other than notice of termination from Landlord right to Tenant shall terminate this LeaseLease and all rights of Tenant hereunder including ▇▇▇▇▇▇’s right to possession of the Premises. The Lease In the event that District shall elect to so terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord then District may accelerate Tenant’s obligations under the Lease and recover from Tenant: :
(ia) The worth at the time of award of the unpaid rent Rent and other charges, which had been earned as of the date of the termination hereof; plus
(b) The worth at the time of termination; (ii) award of the amount by which the unpaid rent Rent and other charges which would have been earned after the date of the termination hereof until the time of award exceeds the amount of rent such rental loss that Tenant ▇▇▇▇▇▇ proves could reasonably have been reasonably avoided; plus
(iiic) The worth at the time of award of the amount by which the unpaid rent Rent and other charges for the balance of the term of the Lease Term hereof after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably be avoided avoided; plus
(discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (ivd) any Any other amount necessary to compensate Landlord District for all the detriment proximately caused by Tenant▇▇▇▇▇▇’s failure to perform its obligations under the Lease, this Lease or which in the ordinary course of things would be likely to result from therefrom, including, but not limited to, the Event cost of Defaultrecovering possession of the Premises, expenses of reletting, including without limitation Reletting Expenses described belownecessary repair, renovation and alteration of the Premises, reasonable attorneys' fees, expert witness costs, and any other reasonable costs; plus
(e) The funds in the Capital Improvement Fund; plus
(f) Any other amount which District may by law hereafter be permitted to recover from Tenant to compensate District for the detriment caused by ▇▇▇▇▇▇’s default.
Appears in 1 contract
Sources: Ground Lease
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent Rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent Rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s Tenants obligations under the Lease and recover from Tenant: (i) unpaid rent Rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent Rent which would have been earned after termination until the time of award exceeds the amount of rent Rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent Rent for the balance of the term of the Lease after the time of award exceeds the amount of rent Rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 21(b).
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord Landlord, other than written notice of termination from Landlord to Tenant of termination, shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: ; (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 20b.
Appears in 1 contract
Termination of Lease. Upon the occurrence of a default hereunder, Landlord may terminate this Lease and Tenant’s interest under the Lease, but no act by Landlord other than notice right of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting possession of the Premises by (whereupon all obligations and liabilities of Landlord subsequent to hereunder shall terminate) and, without further notice and without liability, repossess the Premises. Upon any such termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on recover:
(a) The worth at the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) 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 rent such Rent loss that Tenant proves could reasonably 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 of the Lease Term after the time of award exceeds the amount of rent such Rent loss that Tenant proves could be reasonably be avoided avoided; plus
(discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (ivd) any Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Leasethis Lease or which, or which in the ordinary course would of things, results therefrom including, but not limited to: attorneys’ fees and costs; brokers’ commissions; the costs of refurbishment, alterations, renovation and repair of the Premises, and removal (including the repair of any damage caused by such removal) and storage (or disposal) of Tenant’s personal property, equipment, fixtures, alterations and any other items which Tenant is required under this Lease to remove but does not remove, as well as the unamortized value of any free rent, reduced rent, free parking, reduced rate parking and any tenant improvement allowance or other costs or economic concessions provided, paid, granted or incurred by Landlord pursuant to this Lease. The unamortized value of such concessions shall be likely to result from determined by taking the Event total value of Defaultsuch concessions and multiplying such value by a fraction, including without limitation Reletting Expenses described belowthe numerator of which is the number of months of the Lease Term not yet elapsed as of the date on which this Lease is terminated, and the denominator of which is the total number of months of the Lease Term. As used in Subsections 14.2.1(a) and (b) above, the “worth of the time of award” is computed by allowing interest at the rate prescribed in Section 16.9 hereof. As used in Subsection 14.2.1(c) above, the “worth at the time of the award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
Appears in 1 contract
Termination of Lease. Landlord may terminate Tenant’s interest under Subject to SectionArticle 17.5, as applicable, District shall have the Lease, but no act by Landlord other than notice of termination from Landlord right to Tenant shall terminate this LeaseLease and all rights of Tenant hereunder including ▇▇▇▇▇▇’s right to possession of the Premises. The Lease In the event that District shall elect to so terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord then District may accelerate Tenant’s obligations under the Lease and recover from Tenant: :
(ia) The worth at the time of award of the unpaid rent Rent and other charges, which had been earned as of the date of the termination hereof; plus
(b) The worth at the time of termination; (ii) award of the amount by which the unpaid rent Rent and other charges which would have been earned after the date of the termination hereof until the time of award exceeds the amount of rent such rental loss that Tenant ▇▇▇▇▇▇ proves could reasonably have been reasonably avoided; plus
(iiic) The worth at the time of award of the amount by which the unpaid rent Rent and other charges for the balance of the term of the Lease Term hereof after the time of award exceeds the amount of rent such rental loss that Tenant proves could be reasonably be avoided avoided; plus
(discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (ivd) any Any other amount necessary to compensate Landlord District for all the detriment proximately caused by Tenant▇▇▇▇▇▇’s failure to perform its obligations under the Lease, this Lease or which in the ordinary course of things would be likely to result from therefrom, including, but not limited to, the Event cost of Defaultrecovering possession of the Premises, expenses of reletting, including without limitation Reletting Expenses described belownecessary repair, renovation and alteration of the Premises, reasonable attorneys' fees, expert witness costs, and any other reasonable costs; plus
(e) TheSubject to the rights of any Leasehold Mortgagees, the funds in the Capital Improvement Fund; plus
(f) Any other amount which District may by law hereafter be permitted to recover from Tenant to compensate District for the detriment caused by ▇▇▇▇▇▇’s default.
Appears in 1 contract
Sources: Ground Lease
Termination of Lease. Should Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord elect to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal pursuant to the rent and other sums that would have been owing by Tenant under this Lease for the balance provisions of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent Section 19(b)(i) or other amounts would have been payable under the Lease, or alternatively19(b)(iii) above, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant, as damages, the following: (i) The worth at the time of award of any unpaid rent rental which had been earned at the time of the termination; , plus (ii) the worth at the time of award of the amount by which the unpaid rent rental which would have been earned after termination until the time of award exceeds the amount of rent rental loss that Tenant proves could reasonably have been reasonably avoided; , plus (iii) the worth at the time of award of the amount by which the unpaid rent rental for the balance of the term of the Lease Term after the time of award exceeds the amount of rent rental loss that Tenant proves could be reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the awardavoided, plus 1%); and (iv) any other amount amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Leasethis Lease or which, or which in the ordinary course of things, would be likely to result from therefrom including, but not limited to, any costs or reasonable expenses incurred by Landlord in
(a) retaking possession of the Event of DefaultPremises, including without limitation Reletting Expenses described belowreasonable attorneys fees therefor, (b) maintaining or preserving the Premises after any default, (c) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (d) reasonable leasing commissions, or (e) any other reasonable costs necessary or appropriate to relet the Premises, plus (v) at Landlord's election, any other reasonable amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the state of California. As used in clauses (i) and (ii) above, the "worth at the time of award" is computed by allowing interest at the lesser of 12% per annum or the maximum lawful rate. As used in clause (iii) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Premises at the time of award plus 1%.
Appears in 1 contract
Sources: Settlement Agreement
Termination of Lease. Landlord may terminate Tenant’s 's interest under the Lease, but no act by Landlord other than written notice of termination from Landlord to Tenant of termination shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent base Rent, additional Rent, and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting reletting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s 's Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s 's obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s 's failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described belowin Section 22b.
Appears in 1 contract
Sources: Lease Agreement (Virage Logic Corp)
Termination of Lease. Landlord may may, by written notice, terminate Tenant’s interest under this Lease and recover possession of the Premises. Once Landlord has terminated this Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Leaseimmediately surrender the Premises to Landlord. The Lease shall terminate on the date specified in the notice of termination. Upon On termination of this Lease, Landlord may recover from Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance all of the Lease term, less following: (a) the net proceeds, if any, worth at the time of the award of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which Rent that had been earned at the time of the termination, to be computed by allowing interest at the Default Rate (as defined below); (iib) the worth at the time of the award of the amount by which the unpaid rent which Rent that would have been earned after termination until between the time of the termination and the time of the award exceeds the amount of rent loss unpaid Rent that Tenant proves could reasonably have been avoided, to be computed by allowing interest at the Default Rate; (iiic) the worth at the time of the award of the amount by which the unpaid rent Rent for the balance of the term of the Lease Term after the time of the award exceeds the amount of rent loss unpaid Rent that Tenant proves could reasonably have been avoided, to be avoided (computed by discounting such that amount by at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, award plus one percent (1%); and (ivd) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the this Lease, or which in the ordinary course of things would be likely to result from the Event therefrom; and (e) any other amounts, in addition to or in lieu of Defaultthose listed above, including without limitation Reletting Expenses described belowthat may be permitted by applicable law.
Appears in 1 contract
Sources: Sublease (Zogenix Inc)