This office lease form is a standard default remedy clause, providing for the collection of the difference between the rent due and owing under the lease and the rents collected in the event of mitigation.
New York Default Remedy Clause
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Multi-State
Control #:
US-OL14031
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Word;
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How to fill out Default Remedy Clause?
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FAQ
Commercial leases require an effective default clause that allows the landlord to force a tenant to comply with all lease obligations. The default clause commonly provides the procedure for obtaining an eviction or the threat of an eviction for a commercial tenant's violation of the lease.
The Agreement has several available remedies for the buyer and seller in the event of default. The options include (1) declaring the Agreement null and void, (2) termination of the Agreement, (3) specific performance, and (4) stipulated damages.
5 Common Remedies for a Breach of Contract #1. Compensatory Damages. Compensatory damages are the most common damages awarded in breach of contract cases. ... #2. Liquidated Damages. ... #3. Rescission. ... #4. Specific Performance. ... #5. Injunction. ... Have a Contract that has Been Breached? We Are Here to Help.
This provision specifies the remedies for an Event of Default and also outlines the order in which available funds will be disbursed to the lenders. all outstanding borrowings become immediately due and payable. all outstanding borrowings become immediately due and payable.
There are three type of remedies which the plaintiff (person who brings an action in a court) which are damages, specific performance and injunction. These remedies will be given to the plaintiff ing to the losses that he or she had faced.
There are several remedies for breach of contract, such as award of damages, specific performance, rescission, andrestitution. In courts of limited jurisdiction, the main remedy is an award of damages.
If the buyer fails to rectify the default during the notice and cure period, the seller can pursue legal remedies, as specified in the default provision. This may include seeking damages, specific performance of the contract, or retaining the deposit paid by the buyer.
An exclusive remedies clause limits the owner's right to recover for any failure of the contractor to fulfill its contractual obligations to those remedies specified in the contract.
