Common use of Termination of Lease Clause in Contracts

Termination of Lease. Landlord may terminate this Lease by written notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentry. Upon Landlord’s notice of termination, Tenant immediately shall pay to Landlord the amount of all Rent and other sums due under this Lease to the date of termination. Also, Tenant shall pay Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term (as if the Lease had not been terminated) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation of the probable amount of the difference by which the Rent for the full Lease Term, plus all accrued and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior to the expiration of the period of the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Term.

Appears in 3 contracts

Samples: Land and Improvements Lease, Land and Improvements Lease, Land and Improvements Lease

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Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation: (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused to Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term including but not limited to any Re-entry Costs; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Expenses to the expiration extent Landlord is not otherwise reimbursed for such Expenses. For purposes of this section, Landlord will utilize the period of Discount Rate to compute present worth. Nothing in this section shall limit or prejudice Landlord’s right to prove and obtain damages in an amount equal to the full Lease Termmaximum amount allowed by the Laws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 3 contracts

Samples: Lease Agreement (G Iii Apparel Group LTD /De/), Lease Agreement (G Iii Apparel Group LTD /De/), Lease Agreement (Xata Corp /Mn/)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in Landlord's notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord as provided in Article 16. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant's default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant's failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant's failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demand, Landlord’s prospective damages over the remaining Lease Term any Re-entry Costs; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the amount by which (i) the present worth, as of the probable amount effective date of the difference by which termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds (ii) the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if anyd) Property Expenses, to Tenant’s accountthe extent Landlord is not otherwise reimbursed for Property Expenses. The Parties agree that such lump-sum determination is For purposes of this section, Landlord will compute present worth by utilizing a reasonable, appropriate discount rate of 8% per annum. Nothing in this section limits or prejudices Landlord's right to prove and agreed-upon means of liquidating obtain damages prior in an amount equal to the expiration of maximum amount allowed by the period of Laws, regardless whether such damages are greater than the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 2 contracts

Samples: Warehouse Lease Agreement (Advanced Digital Information Corp), Lease Agreement (Wells Real Estate Fund Xiii L P)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant's default, including, without limitation: (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused to Landlord by Tenant's failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant's failure to perform, Tenant shall pay Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term including but not limited to any Re-entry Costs; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out d) Tenant's Share of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior Expenses to the expiration extent Landlord is not otherwise reimbursed for such Expenses. For purposes of this section, Landlord will utilize the period of Discount Rate to compute present worth. Nothing in this section shall limit or prejudice Landlord's right to prove and obtain damages in an amount equal to the full Lease Termmaximum amount allowed by the Laws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 2 contracts

Samples: Lease Agreement (Aspirity Holdings LLC), Office Sublease (Aspirity Holdings LLC)

Termination of Lease. Landlord may terminate Terminate this Lease and all of Tenant's rights and obligations hereunder by delivery of written notice to Tenant. Such termination shall be effective upon delivery of such notice to Tenant and Tenant shall immediately surrender possession of the Premises to Landlord’s election . In such event, Landlord shall be entitled to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentry. Upon Landlord’s notice of termination, recover from Tenant immediately and Tenant shall pay to Landlord the amount immediately upon demand, all damages incurred by Landlord by reason of Tenant's default, including without limitation (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any 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 of things would be likely to result therefrom, Tenant shall pay Landlordincluding but not limited to, at Landlord’s optionany costs or expenses incurred in (i) maintaining or preserving the Premises after such default, on demand(ii) recovering possession of the Premises, Landlord’s prospective damages over removing persons and property from the remaining Lease Term Premises and storing such property, including court costs and reasonable attorneys' fees incurred in connection therewith (as if iii) reletting, renovating or altering the Lease had not been terminatedPremises, and (iv) as a lump sum real estate commission paid or payable in an amount determined by Landlord which, so long as determined reasonably connection with reletting the Premises; and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be (c) an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair and reasonably anticipated costsreasonable market rent for the Premises for the same period. For purposes of this section, present worth shall be computed by utilizing a discount rate of six percent (6%). Nothing in this section shall limit or prejudice Landlord's right to prove and obtain damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior in an amount equal to the expiration maximum amount allowed by the Laws, regardless of whether such damages are greater than the period of the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth herein.

Appears in 2 contracts

Samples: Lease Agreement (Netbank Inc), Lease Agreement (Primis Inc)

Termination of Lease. Landlord may terminate Terminate this Lease by written notice to Tenant of Landlord’s election to do so, whether or not effective on the date Landlord has previously elected to continue the Lease specifies in effect, with or without reentry. Upon Landlord’s notice of to Tenant. Upon termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the DT-Carvana Lease 11 termination. Also; (b) any amount necessary to compensate Landlord for any damages proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demand, Landlord’s prospective damages over the remaining Lease Term any Re-entry Costs; and (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation of the probable amount of the difference by which the Rent for the full Lease Term, plus all accrued and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other creditspositive difference, if any, to between the Rent, including Tenant’s accountShare of Operating Costs, for the balance of the Term remaining after the effective date of the termination (assuming no termination) and the amount of Rent, including Tenant’s Share of Operating Costs, for the Premises that Tenant proves that Landlord will receive from reletting the Premises for the same period, with such positive difference discounted to present value at the Prime Rate. The Parties agree that such lump-sum determination is a reasonable, appropriate Nothing in this Section limits or prejudices Landlord’s right to prove and agreed-upon means of liquidating obtain damages prior in an amount equal to the expiration of maximum amount allowed by the period of Laws, regardless whether such damages are greater than the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this Section.

Appears in 2 contracts

Samples: Lease Agreement (Carvana Co.), Lease Agreement (Carvana Co.)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date that Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant, and Tenant will pay to Landlord the amount on demand all damages that Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionwithout limitation, on demandany Re-entry Costs, Landlord’s prospective damages over the remaining Lease Term (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation of the probable amount of the difference by which the present worth, as of the effective date of the termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds the present worth, plus all accrued as of the effective date of the termination, of a fair market basic rent for the Premises for the same period (as Landlord reasonably determines the fair market basic rent), and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Expenses to the expiration extent that Landlord is not otherwise reimbursed therefor, but only to the extent incurred by Landlord. For purposes of this Section 14.2.2, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this Section 14.2.2 limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the period maximum amount allowed by Laws, regardless of whether such damages are greater than the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this Section 14.2.2.

Appears in 2 contracts

Samples: Office Lease Agreement, Office Lease Agreement (Horizon Pharma PLC)

Termination of Lease. Terminate this Lease effective on the date Landlord notifies Tenant of the termination. Upon termination. Tenant will immediately surrender possession of the Premises to Landlord. If Landlord terminates this Lease. Landlord may terminate this Lease by written notice to recover from Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentry. Upon Landlord’s notice of termination, and Tenant immediately shall will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant's default, including, without limitation, (a) all Rent due and other sums due payable under this Lease as of the effective date of the termination; (b) subject to the date of termination. Alsolimitation provided in Section 14.7 hereof, Tenant shall pay Landlordany amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant's failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant's failure to perform, at Landlord’s optionincluding, on demandbut not limited to, Landlord’s prospective damages over the remaining Lease Term any Re-entry Costs, and (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the difference between the present worth. as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent). For purposes of this Section, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this Section limits or prejudices Landlord's right to prove and reasonably anticipated costs, obtain damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior in an amount equal to the expiration of maximum amount allowed by the period of Laws, regardless whether such damages are greater than the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this Section.

Appears in 1 contract

Samples: Multitenant Office Deed of Lease Agreement (Sm&a Corp)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demandany Re-entry Costs, Landlord’s prospective damages over the remaining Lease Term (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent) and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Expenses to the expiration extent Landlord is not otherwise reimbursed for such Expenses. For purposes of this section, Landlord will compute present worth by utilizing a discount rate of eight percent (8%) per annum. Nothing in this section limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the period of maximum amount allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Office Lease Agreement (Wells Mid-Horizon Value-Added Fund I LLC)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demandany Re-entry Costs, Landlord’s prospective damages over the remaining Lease Term (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent) and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior d) Property Expenses to the expiration extent Landlord is not otherwise reimbursed for such Property Expenses. For purposes of this section, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this section limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the period of maximum amount allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Office Lease Agreement (Horizon Health Corp /De/)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionwithout limitation, on demandany Re-entry Costs, Landlord’s prospective damages over the remaining Lease Term (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation of the probable amount of the difference by which the present worth, as of the effective date of the termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds the present worth, plus all accrued as of the effective date of the termination, of a fair market Basic Rent for the Premises for the same period (as Landlord reasonably determines the fair market Basic Rent) and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Expenses to the expiration extent Landlord is not otherwise reimbursed for such Expenses. For purposes of this Section 15.2.2, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this Section 15.2.2 limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the period of maximum amount allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this Section 15.2.2.

Appears in 1 contract

Samples: Office Lease Agreement (Everside Health Group, Inc.)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any Re-entry Costs, Tenant shall pay Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term and (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation of the probable amount of the difference by which the present worth, as of the effective date of the termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds the present worth, plus all accrued as of the effective date of the termination, of a fair market Basic Rent for the Premises for the same period (as Landlord reasonably determines the fair market Basic Rent). For purposes of this section, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this section limits or prejudices Landlord’s right to prove and reasonably anticipated costs, obtain damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior in an amount equal to the expiration of maximum amount allowed by the period of Laws, regardless whether such damages are greater than the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Office Lease Agreement (Digital River Inc /De)

Termination of Lease. Landlord may terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, unless possession has already been relinquished pursuant to Section 14.2.1, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant's default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant's failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant's failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demandany Re-entry Costs, Landlord’s prospective damages over the remaining Lease Term and (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the amount by which the present worth, as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds the present worth, plus all accrued as of the effective date of the termination, of the amount of Rent loss for the Premises for the same period, that Tenant proves could be reasonably avoided. For purposes of this section, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this section limits or prejudices Landlord's right to prove and reasonably anticipated costs, obtain damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior in an amount equal to the expiration of maximum amount allowed by the period of Laws, regardless whether such damages are greater than the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Office Lease Agreement (Blue Nile Inc)

Termination of Lease. Terminate this lease effective on the date Landlord may terminate this Lease by written specifies in Landlord's notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to landlord on demand all damages Landlord the amount incurs by reason of Tenant's default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant's failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant's failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demand, Landlord’s prospective damages over the remaining Lease Term any Re-entry Costs; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair market basic rent for the Premises for the same period (as Landlord reasonably determines the fair market basic rent); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out d) Tenant's Share of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior Excess Expenses to the expiration extent Landlord is not otherwise reimbursed for such Excess Expenses. For purposes of this Section, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this Section limits or prejudices Landlord's right to prove and obtain damages in an amount equal to the period of maximum amount 21 24 allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this Section.

Appears in 1 contract

Samples: Office Lease Agreement (Saleslogix Corp)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also, Tenant shall pay Landlord, at Landlord; (b) any amount necessary to compensate Landlord for any detriment proximately caused to Landlord by Tenant’s option, on demand, Landlord’s prospective damages over the remaining failure to perform its obligations under this Lease Term (as if the Lease had not been terminated) as a lump sum in an amount determined by Landlord or which, so long as determined reasonably in the ordinary course, would likely result from Tenant’s failure to perform, including any Re-entry Costs, and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be (c) an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines). For purposes of this section, Landlord will compute present worth by utilizing a discount rate per annum that is commercially reasonable as of the date of such determination. Nothing in this section limits or prejudices Landlord’s right to prove and reasonably anticipated costs, obtain damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior in an amount equal to the expiration of maximum amount allowed by the period of Laws, regardless whether such damages are greater than the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Project Office Lease Agreement

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in Landlord's notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord as provided in Article 16. Such termination will not extinguish any obligations that survive termination as provided elsewhere in this Lease. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant's default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant's failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant's failure to perform, Tenant shall pay including, but not limited to, any Re-entry Costs and the unamortized amounts of Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term 's costs to construct Tenant's Improvements and real estate commissions paid in connection with this Lease; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the amount by which (i) the present worth, as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds (ii) the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out d) Tenant's Share of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior Excess Property Expenses to the expiration extent Landlord is not otherwise reimbursed for such Property Expenses. For purposes of this section, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this section limits or prejudices Landlord's right to prove and obtain damages in an amount equal to the period of maximum amount allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Lease Agreement (Brightpoint Inc)

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Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation: (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused to Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term including but not limited to any Re-entry Costs; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Expenses to the expiration extent Landlord is not otherwise reimbursed for such Expenses. For purposes of this section, Landlord will utilize the period of Discount Rate to compute present worth. Nothing in this section shall limit or prejudice Landlord’s right to prove and obtain damages in an amount equal to the full Lease Termmaximum amount allowed by the Laws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Lease Agreement (Datalink Corp)

Termination of Lease. Landlord may terminate Terminate this Lease by written notice to Tenant of Landlord’s election to do so, whether or not effective on the date Landlord has previously elected to continue the Lease specifies in effect, with or without reentry. Upon Landlord’s notice of to Tenant. Upon termination, Tenant will immediately shall surrender possession of the Premises to Landlord as provided in Article 16. Such termination will not extinguish any obligations that survive termination as provided elsewhere in this Lease. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease as of the effective date of the termination; (b) to the date extent allowed by applicable Laws any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, including, but not limited to, any Re-entry Costs and the unamortized amounts of termination. Also, Tenant shall pay Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term any Improvement Allowance and real estate commissions paid in connection with this Lease; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the amount by which (i) the present worth, as of the probable amount effective date of the difference by which termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds (ii) the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Excess Property Expenses to the expiration extent Landlord is not otherwise reimbursed for such Excess Property Expenses. For purposes of this Section, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this Section limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the period of maximum amount allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this Section.

Appears in 1 contract

Samples: Office Lease Agreement (Fender Musical Instruments Corp)

Termination of Lease. Landlord may terminate Terminate this Lease by written notice to Tenant of Landlord’s election to do so, whether or not effective on the date Landlord has previously elected to continue the Lease specifies in effect, with or without reentry. Upon Landlord’s notice of to Tenant. Upon termination, Tenant shall immediately surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant shall pay to Landlord, within twenty (20) days after Tenant receives Landlord’s statement, all damages Landlord the amount incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations hereunder or which in the ordinary course would likely result from Tenant’s failure to perform its obligations hereunder, Tenant shall pay including, but not limited to, any Re-entry Costs (as the same may be reasonably estimated by Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term if necessary); (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation of the probable amount of the difference by which the Rent for the full Lease Term, plus all accrued and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other creditspositive difference, if any, to between the present worth, as of the effective date of the termination, of the Base Rent for the balance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent); and (d) Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Excess Expenses not paid by Tenant to the expiration extent Landlord is not otherwise reimbursed for such Excess Expenses. For purposes of this Section 14.2.2, Landlord shall compute present worth by utilizing a discount rate of eight percent (8%) per annum. Nothing in this Section 14.2.2 shall limit or prejudice Landlord’s right to prove and obtain damages in an amount equal to the period of maximum amount allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this Section 14.2.2.

Appears in 1 contract

Samples: Office Lease Agreement (CaliberCos Inc.)

Termination of Lease. Landlord may can terminate this Lease and Txxxxx's right to possession of the Premises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of Landlord’s election to do sosuch termination shall terminate this Lease. Upon termination, whether or not Landlord has previously elected the right to continue recover all damages incurred by Landlord as a result of Tenant's default, including: (a) The worth at the Lease in effect, with or without reentry. Upon Landlord’s notice time of award of any unpaid rent that had been earned at the time of such termination, Tenant immediately shall pay to Landlord ; plus (b) The worth at the time of award of the amount by which the unpaid rent that would have been earned after the date of termination until the time of award exceeds the amount of all Rent and other sums due under this Lease to the date loss of termination. Also, rent that Tenant shall pay Landlord, proves could have been reasonably avoided; plus (c) The worth at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term (as if the Lease had not been terminated) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court time of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation award of the probable amount of the difference by which the Rent unpaid rent for the full balance of the Lease TermTerm after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (d) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's default, plus all accrued including, but not limited to (i) expenses for cleaning, repairing or restoring the Premises, (ii) expenses for altering, remodeling or otherwise improving the Premises for the purpose of reletting, (iii) brokers' fees and reasonably anticipated commissions, advertising costs and other expenses of reletting the Premises, (iv) costs of carrying the Premises, such as taxes, insurance premiums, utilities and security precautions, (v) expenses in retaking possession of the Premises, (vi) attorneys' fees and costs, damages and expenses for which the Tenant is or would become liable for under (vii) any unearned brokerage commissions paid in connection with this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease TermLease, and all security deposits and (viii) reimbursement of any previously waived or abated Minimum Monthly Rent, Additional Rent or other creditscharges; plus (e) At Landlord's election, if any, such other amounts in addition to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior to the expiration or in lieu of the period foregoing as may be permitted from time to time under applicable law. As used in paragraphs (a) and (b) above, the "worth at the time of award" shall be computed by allowing interest at the maximum permissible legal rate. As used in paragraph (c) above, the "worth at the time of award" shall be computed by discounting such amount at the discount rate of the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination Federal Reserve Bank of damages over San Francisco at the remaining Lease Term, and that on the payment time of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Term.award plus one percent (1%). 22.2

Appears in 1 contract

Samples: Aethlon Medical Inc

Termination of Lease. Landlord may terminate Terminate this Lease by written notice to Tenant of Landlord’s election to do so, whether or not effective on the date Landlord has previously elected to continue the Lease specifies in effect, with or without reentry. Upon Landlord’s notice of to Xxxxxx. Upon termination, Xxxxxx will immediately surrender possession and right to possession of the Premises to Landlord as provided in Article 16. If Landlord terminates this Lease, Landlord may recover from Tenant immediately shall and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demand, Landlord’s prospective damages over the remaining Lease Term any Re-entry Costs; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to the amount by which (i) the present worth, as of the effective date of the termination, of the Base Rent and all other charges payable by Tenant under the terms of this Lease for the balance of the Term remaining after the effective date of the termination (assuming no termination) exceeds (ii) the present worth, as of the effective date of the termination, of a fair market Base Rent and other charges payable by a tenant for the Premises for the same period. For purposes of this section, Landlord will compute present worth by utilizing a discount rate of 6% per annum. Nothing in this section limits or prejudices Landlord’s calculation of the probable right to prove and obtain damages in an amount of the difference by which the Rent for the full Lease Term, plus all accrued and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior equal to the expiration of maximum amount allowed by the period of Laws, regardless whether such damages are greater than the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Warehouse Lease Agreement (Insignia Systems Inc/Mn)

Termination of Lease. Landlord may terminate Terminate this Lease by written notice to Tenant of Landlord’s election to do so, whether or not effective on the date Landlord has previously elected to continue the Lease specifies in effect, with or without reentry. Upon Landlord’s notice of to Tenant. Upon termination, Tenant will immediately shall surrender possession of the Premises to Landlord as provided in Article 16. Such termination will not extinguish any obligations that survive termination as provided elsewhere in this Lease. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demand, Landlord’s prospective damages over any Re-entry Costs and the remaining Lease Term unamortized amounts of any Improvement Allowance and real estate commissions paid in connection with this Lease; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the amount by which (i) the present worth, as of the probable amount effective date of the difference by which termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds (ii) the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as Landlord reasonably determines the fair market Rent); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Property Expenses to the expiration extent Landlord is not otherwise reimbursed for such Property Expenses. For purposes of this Section, Landlord will compute present worth by utilizing a discount rate of 8% per annum. Nothing in this Section limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the period of maximum amount allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this Section.

Appears in 1 contract

Samples: Tenant Lease Agreement (SXC Health Solutions Corp.)

Termination of Lease. Landlord may terminate Terminate this Lease and all of Tenant's rights and obligations hereunder by delivery of written notice to Tenant. Such termination shall be effective upon delivery of such notice to Tenant and Tenant shall immediately surrender possession of the Premises to Landlord’s election . In such event, Landlord shall be entitled to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentry. Upon Landlord’s notice of termination, recover from Tenant immediately and Tenant shall pay to Landlord the amount immediately upon demand, all damages incurred by Landlord by reason of Tenant's Event of Default, including without limitation (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any 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 of things would be likely to result therefrom, Tenant shall pay Landlordincluding but not limited to, at Landlord’s optionany costs or expenses incurred in (i) maintaining or preserving the Premises after such default, on demand(ii) recovering possession of the Premises, Landlord’s prospective damages over removing persons and property from the remaining Lease Term Premises and storing such property, including court costs and reasonable attorneys' fees incurred in connection therewith (as if iii) reletting, renovating or altering the Lease had not been terminatedPremises, and (iv) as a lump sum real estate commission paid or payable in an amount determined by Landlord whichconnection with reletting the Premises, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be (c) an amount equal to Landlord’s calculation the difference between the present worth, as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) and the present worth, plus all accrued as of the effective date of the termination, of a fair and reasonably anticipated costsreasonable market Rent for the Premises for the same period. For purposes of this section, present worth shall be computed by utilizing a discount rate of six percent (6%). Nothing in this section shall limit or prejudice Landlord's right to prove and obtain damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior in an amount equal to the expiration maximum amount allowed by the Laws, regardless of whether such damages are greater than the period of the full Lease Termamounts set forth herein; provided, that if however, Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled agrees to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termuse commercially reasonable efforts to mitigate its damages.

Appears in 1 contract

Samples: Office Lease Agreement (Precise Software Solutions LTD)

Termination of Lease. Landlord may terminate Terminate this Lease by written notice to Tenant of Landlord’s election to do so, whether or not effective on the date Landlord has previously elected to continue the Lease specifies in effect, with or without reentry. Upon Landlord’s notice of to Tenant. Upon termination, Tenant will immediately shall surrender possession of the Premises to Landlord as provided in Article 16. Such termination will not extinguish any obligations that survive termination as provided elsewhere in this Lease. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or that in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionwithout limitation, on demand, Landlord’s prospective damages over the remaining Lease Term any Re-Entry Costs; (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation the amount by which (i) the present worth, as of the probable amount effective date of the difference by which termination, of the Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds (ii) the present worth, plus all accrued as of the effective date of the termination, of a fair market Rent for the Premises for the same period (as reasonably determined); and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over Share of Property Expenses as of the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means effective date of liquidating damages prior the termination to the expiration extent Landlord is not otherwise reimbursed for such Property Expenses (subject to reconciliation hereunder). For purposes of this Section 14.2.2, Landlord will compute present worth by utilizing the discount rate of the period Federal Reserve Bank of San Francisco at the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination time of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termaward plus one percentage point.

Appears in 1 contract

Samples: Warehouse Lease Agreement (Honest Company, Inc.)

Termination of Lease. Landlord may terminate Terminate this Lease by written effective on the date Landlord specifies in its termination notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentryTenant. Upon Landlord’s notice of termination, Tenant will immediately shall surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant will pay to Landlord the amount on demand all damages Landlord incurs by reason of Tenant’s default, including, without limitation, (a) all Rent due and other sums due payable under this Lease to as of the effective date of the termination. Also; (b) any amount necessary to compensate Landlord for any detriment proximately caused Landlord by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course would likely result from Tenant’s failure to perform, Tenant shall pay Landlordincluding, at Landlord’s optionbut not limited to, on demandany Re-entry Costs, Landlord’s prospective damages over the remaining Lease Term (as if the Lease had not been terminatedc) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation of the probable amount of the difference by which the present worth, as of the effective date of the termination, of the Basic Rent for the full Lease Termbalance of the Term remaining after the effective date of the termination (assuming no termination) exceeds the present worth, plus all accrued as of the effective date of the termination, of a Fair Market Rent for the Premises for the same period (as Landlord reasonably determines the Fair Market Rent) and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of d) Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means Share of liquidating damages prior Expenses to the expiration extent Landlord is not otherwise reimbursed for such Expenses. For purposes of this section, Landlord will compute present worth by utilizing a discount rate of eight percent (8%) per annum. Nothing in this section limits or prejudices Landlord’s right to prove and obtain damages in an amount equal to the period of maximum amount allowed by the full Lease TermLaws, that if Landlord elects regardless whether such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over are greater than the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Termamounts set forth in this section.

Appears in 1 contract

Samples: Office Lease Agreement (Paylocity Holding Corp)

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