Failure of Tenant to Perform. The parties recognize that it would be extremely difficult or impossible to determine Landlord's damages resulting from Tenant's failure to open for business fully fixtured, stocked and staffed on the Required Completion Date, including, but not limited to, damages from loss of Percentage Rent (hereinafter defined) from Tenant and other tenants, diminished leaseability, and/or mortgageability and damage to the economic value of the Hotel. Accordingly, if Tenant fails to proceed diligently with Tenant's Work or to open for business fully fixtured, stocked and staffed on or before the Required Completion Date (except to the extent that any delay is caused by Landlord's failure to complete any material portion of Landlord's Work in a timely manner or by any unreasonable interference with Tenant's Work by Landlord's contractors, or by Landlord's failure to allow Tenant's contractors to have access to the Premises to construct Tenant's Work), such failure shall be a Tenant Event of Default and Landlord may, on ten (10) days notice to Tenant and in addition to the right to exercise any other remedies and rights herein or at law provided, proceed with Tenant's Work using any contractor Landlord desires and making any changes or revisions to Landlord's Work required because of any delay or failure of Tenant to perform its obligations hereunder, all at Tenant's expense. In addition, Landlord shall have the right to collect rent from the Required Completion Date in an amount equal to the Base Rent (hereinafter defined) and other additional rent and other amounts payable by Tenant hereunder, together with an amount equal to fifty percent (50%) of 1/365ths of the Base Rent for each day that Tenant has failed to open for business on and after the Required Completion Date, which latter amount shall be in lieu of Percentage Rent that might have been earned had Tenant opened in a timely fashion. In the event that Tenant fails to make a timely Preliminary Submittal or to timely submit its Final Construction Documents, as provided in this Lease, then Landlord shall have the right, in addition to its other rights and remedies as herein provided, to collect from Tenant One Hundred Dollars ($100.00) per calendar day for each day that such plans are not so submitted. All remedies in this Lease or at law provided shall be cumulative and not exclusive and shall survive the expiration of the Lease Term or the earlier termination of this Lease.
Failure of Tenant to Perform. If Tenant fails to pay any taxes, rates, insurance premium, charges or debts which it owes or has herein covenanted to pay, Landlord may pay the same and shall be entitled to charge the sums so paid to Tenant who shall pay them forthwith on demand, as additional rent and Landlord, in addition to any other rights, shall have the same remedies and may take the same steps for the recovery of all such sums as it might have and take for the recovery of rent in arrears under the terms of this Lease; all arrears of rent and any monies paid by Landlord hereunder shall bear interest at the rate of ..................% per annum from the time such arrears become due until paid to Landlord. Landlord may demand such sums from Tenant even before payment with interest at the rate charged by the Taxing Authority or other creditor in question.
Failure of Tenant to Perform. If Tenant fails to pay any taxes, rates, insurance premiums, charges or debts which it owes or has herein covenanted to pay, Landlord may pay the same and shall be entitled to charge the sums so paid to Tenant who shall pay them within thirty (30) days after receipt of invoice and Landlord. In addition to any other rights, Landlord shall have the same remedies and may take the same steps for the recovery of all such sums as it might have and take for the recovery of rent in arrears under the terms of this Lease; all arrears of rent and any monies paid to Landlord hereunder shall bear interest from the date of default at the rate equal to that charged by the Toronto Dominion Bank in Montreal to its most credit worthy commercial customers plus five percent (5%) per annum.
Failure of Tenant to Perform. If Tenant fails to pay when due any taxes, rates, insurance premiums, charges, debts or any other amounts which it owes or has herein covenanted to pay, all such amounts shall be deemed to be and be treated as Additional Rental and payable and recoverable as Additional Rental. Landlord may pay the same and shall be entitled to charge the sums so paid to Tenant who shall pay them forthwith on demand as Additional Rental. All arrears of Minimum Net Net Rental and Additional Rental shall bear interest at the prime lending rate as determined by the Royal Bank of Canada [ILLEGIBLE]
Failure of Tenant to Perform. A. If the Tenant shall at any time fail to make any payment within ten (10) days after a written request from the Landlord after the same shall be due or perform any act on its part to be made or performed under the terms of this Lease within thirty (30) days after written notice from the Landlord, then the Landlord may, but shall not be obligated so to do, and without further notice to or demand upon the Tenant and without waiving or releasing the Tenant from any obligation in this Lease contained, make any such payment or perform any such act on the part of the Tenant to be made or performed as in this Lease provided. All sums so paid by the Landlord and all necessary incidental costs and expenses in connection with the performance of any such act by the Landlord, together with interest thereon at two points above the prime rate of Meridian Bank per annum from the date of making of such expenditure, shall immediately become due and be payable by the Tenant on demand. All sums which may become payable to the Landlord by Tenant, as in this subparagraph A provided, shall be deemed additional rent, and the Landlord shall have (in addition to any other right or remedy of the Landlord) the same rights and remedies in the event of the nonpayment of any such sums by the Tenant as in the case of Default by the Tenant in the payment of the minimum rent.
Failure of Tenant to Perform. If the Tenant fails to pay any taxes, rates, insurance premiums or charges which it has herein covenanted to pay, the Landlord may pay the same and shall be entitled to charge the sums so paid to the Tenant who shall pay them forthwith on demand, as Additional Rental and the Landlord, in addition to any other rights, shall have the same remedies and may take the same steps for all such sums as it might take for the recovery of rent. Such amounts so paid by the Landlord and any payments of Minimum Net Net Rental and/or Additional Rental when not paid on any due date as provided for herein shall bear interest at the prime lending rate as determined by the Royal Bank of Canada on a daily basis plus four percent (4%) per annum from the time such arrears become due until paid to the Landlord.
Failure of Tenant to Perform. If the Tenant fails to pay any taxes, rates, insurance premiums or charges which it has herein covenanted to pay, and which Tenant has failed to pay within a period of ten (10) days after notice in writing from the Landlord to remedy such default, the Landlord may pay the same and shall be entitled to charge the sums so paid to the Tenant, plus an administrative fee of fifteen percent (15%) for doing so, which shall be charged to Tenant as Additional Rental, who shall pay them forthwith on demand and the Landlord, in addition to any other rights, shall have the same remedies and may take the same steps for all such sums as it might take for the recovery of rent. Such amounts so paid by the Landlord and any payments of Minimum Net Rental and/or Additional Rental when not paid on any due date as provided for herein shall bear interest from the due date to the date of payment, calculated daily at the prime rate of the Canadian Imperial Bank of Commerce, plus two percent (2%).
Failure of Tenant to Perform. Because of the difficulty or impossibility of determining Landlord's Damages resulting from Tenant's failure to open for business fully fixtured, stocked and staffed on the Commencement Date, including, but not limited to, damages from loss of Percentage Rent (hereinafter defined) from Tenant and other tenants, diminished saleability, leaseability, mortgageability or economic value of the Center, if Tenant fails to commence Tenant's Work within the time provided above and proceed with the same diligently, or to open for business fully fixtured, stocked and staffed on or before the Required Completion Date or to perform any of its obligations to be performed prior to the Required Completion Date and such failure is not due to delays caused by Landlord, Landlord may, without notice or demand, in addition to the right to exercise any other remedies and rights herein or at law provided, proceed with Tenant's Work, using any contractor Landlord desires and making any changes or revisions to Tenant's Work required because of any delay or failure of Tenant to perform its obligations hereunder, which changes or revisions shall in any event be made at Tenant's expense. All remedies in this Lease or at law provided shall be cumulative and not exclusive and shall survive the expiration of the Lease Term or in the earlier termination of this Lease. 3.5
Failure of Tenant to Perform. Because of the difficulty or impossibility of determining Landlord’s damages resulting from Tenant’s failure to open for business on the Rent Commencement Date, including, but not limited to, damages from diminished saleability, leasability, mortgageability or economic value of the Building, if Tenant fails to open for business within thirty (30) days after the Rent Commencement Date (subject to Landlord Delay and force majeure), Landlord may, without notice or demand, in addition to the right to exercise any other remedies and rights herein or at law provided, collect rent from the Rent Commencement Date in an amount equal to the Annual Gross Rent and other additional rent and other amounts payable by Tenant hereunder, and, in addition thereto, an amount equal to twenty five percent (25%) of 1/365ths of the Annual Gross Rent for each day after the thirtieth (30) day following the Rent Commencement Date that Tenant has failed to open for business in the Premises. All remedies in this Lease or at law provided shall be cumulative and not exclusive.
Failure of Tenant to Perform. Because of the difficulty or impossibility of determining Landlord's damages resulting from Tenant's failure to open for business fully fixtured, stocked and staffed on the Commencement Date, including, but not limited to, damages from loss of Percentage Rent (hereinafter defined) from Tenant and other tenants, diminished saleability, leasability, mortgageability or economic value of the Center, if Tenant fails to diligently complete Tenant's Work, or to open for business fully fixtured, stocked and staffed on or before the Commencement Date Landlord may, if such failure is not cured within twenty (20) days after notice to Tenant, collect rent from the Commencement Date in an amount equal to the Minimum Annual Rent (hereinafter defined) and other additional rent and other amounts payable by Tenant hereunder, and, in addition thereto, an amount equal to [***] of 1/365ths of the Minimum Annual Rent for each day that Tenant has failed to open for business on and after the Commencement Date, which later amount shall be in lieu of Percentage Rent that might have earned had Tenant opened in timely fashion. In addition, Landlord may, upon [***] days prior written notice to Tenant and Tenant's subsequent failure to open for business in the Premises within such [***] day period, terminate this Lease. All remedies in this Lease or at law provided shall be cumulative and not exclusive and shall survive the expiration of the Lease Term or the earlier termination of this Lease.
