X hits on this document

PDF document

NEGOTIATING KEY LEASE PROVISIONS A Landlord's Point of View - page 50 / 60





50 / 60


any other amount necessary to compensate Landlord for all the detriment proximately

caused by Tenant's failure to perform his obligations under this Lease or which in the ordinary

course of things would be likely to result therefrom: plus


at Landlord's election, such other amounts in addition to, or in lieu of the foregoing, as

may be permitted from time to time by applicable California law.

Definition of Worth at the Time of Award. As used in subsections (a) and (b) of Section , the "worth at the time of award" shall be computed by allowing interest at the lesser of two percent above the reference rate of interest charged by [local Seattle Bank] to its most credit-worthy customers on the date the amount became due (or a substitute reference rate of a comparable lending institution reasonably selected by Landlord if [local Seattle bank] no longer publishes a reference rate), or the maximum rate then permitted by applicable law. As used in subsection (c) of Section _____, the "worth at the time of award" shall be computed by discounting such amount at the discount rate of the Federal Reserve Hank of Ban Francisco at the time of award plus one percent (1%).

Reentry. . In the event of any default by Tenant, Landlord shall also have the right, with or without terminating this Lease, to reenter the Premises and to remove al persons and property from the Premises and take whatever actions may be necessary or advisable to relet, protect or preserve the Premises. Any property so removed may be stored in a public warehouse or other suitable place or otherwise disposed of in Landlord's discretion at the expense and for the account of Tenant. Landlord shall not be responsible for any damages or losses suffered by Tenant as a result of such reentry, removal, storage or other disposition, and no such action shall be construed as an election to terminate this Lease unless a written notice of such intention is given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction.

Reletting. In the event of the vacation or abandonment of the Premises by Tenant or in the event that Landlord shall elect to re-enter pursuant to the terms of this Lease or shall take possession of the Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease as provided in this Section _____, Landlord may from time to time, without terminating this Lease, either recover all rental as it becomes due or relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises.

Payment by Tenant Upon Termination. Upon the giving by Landlord of a notice in writing terminating this Lease under Section _____, this Lease and the Term shall terminate and Rent and any other payments for which Tenant is liable under this Lease shall be computed, apportioned and paid in full forthwith. Upon termination of this Lease and the Term, Tenant shall immediately deliver up possession of the Premises to Landlord, and Landlord may forthwith reenter and take possession of them.

99999\11111\215691.V01 JDC


Document info
Document views231
Page views231
Page last viewedMon Jan 23 17:30:22 UTC 2017