Agmt04 cinema - closing docs - Laserfiche WebLink

Browse Search

Section 18.3 Damae:es. Late Fees. etc. In addition to any remedies available to Landlord at law or in equity, in the event that Landlord shall elect to terminate the Lease pursuant to Section 18.2(a), then Landlord may recover from Tenant: (i) the worth at the time of award of any unpaid Rent which had been earned at the time of such termination, plus (ii) the worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided, plus (iii) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Term (excluding any unexercised extension options) after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided, plus (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform Tenant's obligations under this Lease or which in the ordinary course of events would be likely to result therefrom; provided, however, that upon such termination Tenant shall be entitled to an offset against the amounts otherwise payable to Landlord in an amount equal to the lesser of the total amounts otherwise payable (but unpaid) by Tenant to Landlord under this Lease as of the date of such termination or the fair market value of the Building as it then exists, which (if the parties are unable to agree on such value within sixty (60) days after notice of Landlord's election to terminate) shall be determined by arbitration in accordance with Section 18.5 below. (a) The term "Rent," as used herein, shall be deemed to be and to mean Base Rent, Percentage Rent, and all other sums required to be paid by Tenant pursuant to the terms of this Lease, all of the foregoing of which are deemed to be rent. (b) As used in subparagraphs (i) and (ii) above, the "worth at the time of award" is computed by allowing interest at the Interest Rate. As used in subparagraph (iii) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1 %). (c) In the event that Landlord shall elect to re-enter as provided in Section 18.2(b ), then (provided Landlord does not elect to terminate this Lease pursuant to Section 18.2(a)), 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 reasonable 59 CHG02:3091375.v8 . -----.........