Lessor’s Remedies Clause Examples
The "Lessor’s Remedies" clause defines the actions and rights available to the lessor if the lessee breaches the lease agreement. Typically, this clause outlines steps such as demanding payment, repossessing the leased property, or terminating the lease if the lessee fails to meet obligations like timely rent payments or proper maintenance. By specifying these remedies, the clause ensures the lessor has clear legal recourse to protect their interests and address breaches, thereby allocating risk and providing a structured response to default situations.
POPULAR SAMPLE Copied 4 times
Lessor’s Remedies. (a) Lessor shall have the right, at Lessor’s option at any time that a default or breach under Section 9.1(a) or 9.1(b) remains uncured, to invoke the dispute resolution procedures set forth in Section 11.23. Except as otherwise set forth in this Section 9.2, Lessor’s right to invoke the dispute resolution provisions set forth in Section 11.23 shall be Lessor’s sole and exclusive remedy under this Lease with respect to a default or breach under Section 9.1(a) or 9.1(b).
(b) Lessor shall have the right, at Lessor’s option at any time that a default or breach under Section 9.1(c), 9.1(d) or 9.1(e) remains uncured, to terminate this Lease and Lessee’s right to possession of the Leased Premises, without further notice or demand, and to forthwith repossess the Leased Premises by any lawful means in which event Lessee shall immediately surrender possession of the Leased Premises to Lessor; and any such action on the part of Lessor shall be in addition to any other remedy that may be available to Lessor for breach of contract, or otherwise, including the right of setoff.
(c) If, by the terms of this Lease, Lessee is required to do or perform any act or to pay any sum to a third party, and fails or refuses to do so, Lessor, after 30 days written notice to Lessee, without waiving any other right or remedy hereunder for such default, may do or perform such act, at Lessee’s expense, or pay such sum for and on behalf of Lessee, and the amounts so expended by Lessor shall be repayable on demand, and bear interest from the date expended by Lessor until paid at a rate equal to the lesser of (i) an interest rate equal to the “Prime Rate” as published in The Wall Street Journal, Southwest Edition, in its listing of “Money Rates” plus five percent (5%) or (ii) the maximum non-usurious rate of interest permitted under applicable Law (the “Default Rate”).
Lessor’s Remedies. 25.1 In case that any default occurs and the Lessee fails to eliminate such circumstance within 60 days after occurrence, the Lessor might choose to: (1) request the lessee continuing fully performing its obligations hereunder; and/or (2) suspend Lessee’s use of the Property, its part or any facility; and/or (3) terminate this Contract or any part leased hereunder and promptly recover the Property or the corresponding part. Besides, the Lessor shall have the right to seek other remedies in law.
25.2 The Lessee agrees that, where this Contract or any part of the Property is terminated by the Lessor as per Article 25, the Lessor shall have the right to reoccupy the Property and the corresponding part in any way it deems as proper, to remove the Lessee and all the persons and their properties, and it has the right to use and keep in original conditions all the furniture, devices and equipments in the Property, or to remove and store such articles, and request the Lessee to indemnify the Lessor for: (i)the due, unpaid and accumulated rental, Property & facility management fees and other payables hereunder through such date of termination; and (ii) the expenses incurred due to the otherwise lease of the Property or its part (including but not limited to the intermediary agent charges and/or commission paid by the Lessor); and (iii) costs incurred due to removal and storage of the properties of the Lessee and any other persons; (iv) costs for the recovery of the Property to the original conditions; and (v) all the reasonable expenses incurred to the Lessor for seeking the remedies (including the reasonable attorney’s fee and the expenses related to the arbitration and/or court).
25.3 Where the Lessor terminates this Contract for any default as per Article 25.1, in additional to the compensation stipulated in Article 25.2, the Lessee shall pay the liquidated damages to the Lessor at the amount equal to the rental and Property & facility management fees for 6 months in the year of termination.
25.4 The Lessor’s failure to demand its rights hereunder at any time shall not be interpreted as its waiver or change of such rights or creation of such customary practice. Unless otherwise confirmed by the Lessor in writing, the Lessor’s failure to exercise the rights shall not be deemed as its waiver of any provision herein. The Lessee and the Lessor further agree that, the Lessor’s deferral or waiver of exercise of its rights hereunder shall not be deemed as its waiver of...
Lessor’s Remedies. Time is of the essence. If any Default by Lessee occurs, Lessor will have the right, at Lessor’s election, then or at any later time, to exercise any one or more of the remedies described below. Exercise of any of such remedies will not prevent the concurrent or subsequent exercise of any other remedy provided for in this Lease or otherwise available to Lessor at law or in equity.
Lessor’s Remedies. Upon the occurrence and during the continuance of any LESSEE Default specified in Section 17.1, LESSOR may, at its option, terminate this Lease, in which case:
(a) Neither LESSEE nor any person claiming through or under LESSEE shall be entitled to acquire or remain in possession of the Premises, and LESSOR shall have no further liability hereunder to LESSEE or any person claiming through or under LESSEE, and if LESSEE or any such person is in possession, LESSEE or any such person shall forthwith quit and surrender the Premises to LESSOR without further demand or notice, and LESSOR may lawfully enter the Premises, using such remedies as may be available under the law, and remove all persons and chattels therefrom and LESSOR shall not be liable for damages or otherwise by reason of re-entry or termination of this Lease or its terms;
(b) LESSOR shall have the right of eviction and the right to invoke any remedy allowed at law or in equity as if re-entry, unlawful detainer proceedings and other remedies were not herein provided for; and
(c) Notwithstanding anything contained herein to the contrary, the exercise of any remedy provided pursuant to this Lease or under law shall not deprive LESSOR of other actions against the LESSEE for possession or rent, and all such remedies are non-exclusive and can be exercised concurrently or separately as LESSOR desires.
Lessor’s Remedies i. Upon the occurrence of an “Event of Default,” Lessor may, in its sole discretion, do any one or more of the following:
A. after giving thirty (30) days prior written notice to Lessee of the Event of Default, during which time Lessee shall have the opportunity to cure such Default, terminate any or all Schedules executed by Lessor and the defaulting Lessee;
B. without Lessee and DIR waiving the doctrines of sovereign immunity and immunity from suit, and to the extent allowed by the laws and Constitution of the State of Texas, Lessor may proceed by appropriate court action to enforce the performance of the terms of the Schedule;
C. after giving thirty (30) days prior written notice to Lessee of the Event of Default, during which time Lessee shall have the opportunity to cure such Default, and whether or not the Schedule is terminated, take possession of the Hardware and Software wherever located, without additional demand, liability, court order or other process of law. To the extent permitted by Texas law, Lessee hereby authorizes Lessor, its assigns or the agents of either to enter upon the premises where such Hardware or Software is located or cause Lessee, and Lessee hereby agrees, to return such Hardware and Software to Lessor in accordance with the requirements of Section 15 (“Option to Extend; Surrender of Hardware and Software Assets”) hereof;
D. by notice to Lessee, and to the extent permitted by law, declare immediately due and payable and recover from Lessee, as liquidated damages and as a remedy, the sum of:
I. the present value of the Rent owed from the earlier of the last date of payment by Lessee or the date Lessor obtains a judgment against Lessee until the end of the Schedule Term plus, if the Hardware is not returned to or repossessed by Lessor, the present value of the Stipulated Loss Value of the Hardware at the end of the Schedule Term, each discounted at a rate equal to the rate used by Lessor for business opportunity analysis;
II. without Lessee and DIR waiving the doctrines of sovereign immunity and immunity from suit, and to the extent allowed by the laws and Constitution of the State of Texas, costs, fees (including all attorneys’ fees and court costs) and expenses associated with collecting said sums; and
III. interest on (I) from the date of default at 1½% per month or portion thereof (or the highest rate allowable by law, if less) and, on (II) from the date Lessor incurs such fees, costs or expenses.
ii. Upon return or reposse...
Lessor’s Remedies. In the event Lessee is in default pursuant to the conditions set forth in Section 15.01 above, Lessor, during the continuation of such default, shall have the option of pursuing either of the following remedies:
(a) Lessor may terminate this Lease Agreement, in which event Lessee immediately shall surrender possession of the Demised Premises. All obligations of Lessee under the Lease Agreement, including Lessee’s obligation to pay rent under the Lease Agreement, shall cease upon the date of termination except for Lessee’s obligation to pay rent due and outstanding as of the date of termination.
(b) Lessor, without terminating the Lease Agreement, may require Lessee to remove all property from the Common Improvements within thirty (30) days so that Lessor may re-enter and relet the premises to minimize Lessor’s damages. In the event Lessee shall fail to remove all property within thirty (30) days after said demand, Lessor shall be entitled to remove Lessee’s property to a storage facility, and all reasonable costs of such removal and storage shall be deemed additional rent under the Lease Agreement for which Lessee is responsible for payment. Lessor may enforce all of its rights and remedies under this Lease Agreement, including the right to recover the rent as it becomes due hereunder, provided that Lessor shall have an affirmative obligation to use Lessor’s best efforts to re-let the Common Improvements and to mitigate its damages under the Lease Agreement.
(c) If this Lease Agreement is terminated as set forth, Lessor may relet the Common Improvements (or any portion thereof) for such rent and upon such terms as Lessor is able to obtain (which may be for lower or higher rent, and for a shorter or longer term), and Lessee shall be liable for all damages sustained by Lessor, including but not limited to any deficiency in Rent for the duration of the Lease Term (or for the period of time which would have remained in the Lease Term in the absence of any termination, leasing fees, attorneys’ fees, other marketing and collection costs and all expenses of placing the Common Improvements in first class rentable condition).
(d) Nothing contained herein diminishes any right Lessor may have under South Carolina law to ▇▇▇ Lessee for damages in the event of any default by Lessee under this Lease Agreement, or from pursuing any other remedy available to Lessor at law or in equity.
Lessor’s Remedies. In the event of ▇▇▇▇▇▇’s default that also constitutes an event of default under the Facilities Lease, Lessor shall have the right to terminate this Lease if such event of default has continued uncured for a period of thirty (30) days following Lessor providing Lessee with written notice of the default or to assign this Lease in accordance with Section 9.4.2 of the Facilities Lease. If the default does not constitute an event of default under the Facilities Lease, Lessor shall not have the right to terminate or assign, but Lessor shall have all other rights to compel Lessee to perform and to collect any and all sums owed to Lessor under the Lease. Subject to the terms of this Section 8.4, Lessor shall be entitled to enforce all of Lessor's rights and remedies now or hereafter available in equity and at law for ▇▇▇▇▇▇’s default under this Lease. Lessor’s remedies shall be cumulative, and the exercise of any one or more shall not prevent it from exercising any other right or remedy for ▇▇▇▇▇▇’s default.
Lessor’s Remedies. Each and every remedy of Lessor under or with respect to this Guaranty shall, to the extent permitted by law, be cumulative and shall be in addition to any other remedy given hereunder, or under each of the Leases, or now or hereafter existing at law or in equity; provided, however, that Lessor shall not be entitled to any double recovery.
Lessor’s Remedies. If any of the foregoing items are not removed from the Premises by the conclusion of the Lease or when Lessor has the right of re-entry, then Lessor may, at its sole option, elect any or all the following remedies:
a. To remove any or all the items and to dispose of them without liability to Lessee. Lessor shall not be required to mitigate its damages, to dispose of the items in a commercially reasonable manner, or to make any effort whatsoever to obtain payment for such items. ▇▇▇▇▇▇ agrees to pay Lessor’s costs and damages associated with ▇▇▇▇▇▇’s failure to remove such items, including, but not limited to, the following: storage, demolition, removal, transportation and lost rent (collectively “Disposal Costs”); provided, however, that any net proceeds recovered by Lessor in excess of its Disposal Costs will be deducted from Lessee’s financial obligation set forth herein. Lessee’s financial obligations herein shall survive the termination of this Lease.
b. To have the title to any or all such items revert to Lessor.
c. To commence suit against Lessee for damages or for specific performance. The foregoing remedies are cumulative and in addition to any other remedies provided by law, and Lessor shall not be required to elect its remedies.
Lessor’s Remedies. Upon the occurrence of any Event of Default and at any time thereafter so long as the same shall be continuing, Lessor may, at its option, declare this Lease to be in default by written notice to Lessee; provided, however, that this Lease shall be deemed to be declared in default without the necessity of such written declaration upon the occurrence of 49 any Event of Default described in Section 14(v) or Section 14(vi); and at any time thereafter, so long as any such outstanding Event of Default shall not have been cured or remedied, Lessor may do one or more of the following with respect to all or any part of the Airframe and any or all of the Engines as Lessor in its sole discretion shall elect, to the extent permitted by, and subject to compliance with any requirements of, applicable law then in effect:
(a) Lessor may, upon the written demand of Lessor and at Lessee's expense, cause Lessee to return promptly, and Lessee shall return promptly, all or such part of the Airframe or any Engine as Lessor may so demand, to Lessor or its order in the manner and condition required by, and otherwise in accordance with all the provisions of, Section 8 as if the Airframe or Engine were being returned at the end of the Term, or Lessor (or Lessor's designee) may, at its option, enter upon the premises where all or any part of the Airframe or any Engine is located and take immediate possession of and remove the same (together with any engine that is installed on the Airframe which is not an Engine, subject to the rights of any owner, lessor, lienholder or secured party of such engine) by summary proceedings or otherwise (and/or, at Lessor's option, store the same at Lessee's premises, at Lessee's cost and expense, until disposal thereof by Lessor);
(b) Lessor may sell all or any part of the Aircraft, the Airframe or any Engine at public or private sale and with or without advertisement or notice to Lessee or any Permitted Sublessee, as Lessor in its sole discretion may determine, or otherwise dispose of, hold, use, operate, lease to others or keep idle all or any part of the Aircraft, the Airframe or any Engine as Lessor, in its sole discretion, may determine, all free and clear of any rights of Lessee or any Permitted Sublessee and without any duty to account to Lessee or any Permitted Sublessee with respect to such action or inaction, except as hereinafter set forth in this Section 15; and in the event of a sale in accordance with the foregoing, Lessor shall have th...