IF IT
HAD NOT BEEN TERMINATED AND LANDLORD WILL BE ENTITLED TO RECEIVE SUCH DAMAGES
FROM TENANT ON EACH SUCH DAY.
ALTERNATIVELY, AT THE OPTION OF LANDLORD, IF THIS
LEASE AGREEMENT IS TERMINATED, AND AT ANY TIME THEREAFTER, LANDLORD WILL BE
ENTITLED, IN LIEU OF PROCEEDING TO COLLECT DAMAGES ON A MONTHLY BASIS AS SET
FORTH IN THE PRECEDING SENTENCE, TO RECOVER FROM TENANT (I) ALL ACCRUED UNPAID
RENT THEN DUE AND PAYABLE, AND (II) THE WORTH AT THE TIME OF THE AWARD (AS
HEREAFTER DEFINED) OF THE FUTURE RENT WHICH WOULD HAVE BEEN DUE AND PAYABLE FROM
THE DATE OF TERMINATION THROUGH THE EXPIRATION DATE AS IF THIS LEASE AGREEMENT
HAD NOT BEEN TERMINATED.
THE "WORTH AT THE TIME OF AWARD" OF THE AMOUNT
REFERRED TO IN CLAUSE (II) MEANS THE "PRESENT VALUE", DISCOUNTED USING THE NEW
YORK PRIME RATE (AS DEFINED BELOW), OF THE FUTURE RENT THAT WOULD HAVE BEEN DUE
AND PAYABLE IN THE ABSENCE OF SUCH TERMINATION.
FOR PURPOSES OF THIS LEASE
AGREEMENT, THE "NEW
30
YORK PRIME RATE" SHALL MEAN THE LESSER OF (A) THAT RATE OF INTEREST IDENTIFIED
AS PRIME OR NATIONAL PRIME BY THE WALL STREET JOURNAL, AS OF THE APPLICABLE DATE
OF TERMINATION OF THIS LEASE AGREEMENT, OR IF NOT PUBLISHED OR FOUND, THEN THE
AVERAGE RATE OF INTEREST THEN CHARGED BY JPMORGAN CHASE BANK, N.A. ON NINETY
(90) DAY UNSECURED NOTES TO ITS PREFERRED CUSTOMERS AND (B)THE MAXIMUM, LAWFUL
RATE OF INTEREST ALLOWED BY APPLICABLE LAW.
FOR THE PURPOSE OF DETERMINING
UNPAID FUTURE RENT UNDER CLAUSE (II), SUCH RENT WILL BE DEEMED TO BE THE SUM OF
THE FOLLOWING: (A) THE BASE RENT COMPUTED PURSUANT TO SECTION 3.01; AND (B) THE
ADDITIONAL RENT COMPUTED PURSUANT TO SECTION 3.02.
SUCH COMPUTATION OF
ADDITIONAL RENT SHALL BE BASED ON THE ADDITIONAL RENT PAID FOR THE LEASE YEAR
PRECEDING THE DATE OF TERMINATION, INCREASED BY FOUR (4%) PERCENT PER YEAR
THEREAFTER.
FOLLOWING PAYMENTS BY TENANT OF THE FOREGOING AMOUNTS, LANDLORD
SHALL DELIVER AND PAY OVER TO TENANT ALL RENT, INCOME, AND OTHER PROCEEDS OF ANY
NATURE REALIZED FROM THE SALE, LEASE OR OTHER DISPOSITION OR UTILIZATION OF THE
LEASED PROPERTY, IF ANY, ACTUALLY RECEIVED BY LANDLORD, LESS LANDLORD'S
REASONABLY INCURRED COSTS AND EXPENSES OF MAINTAINING AND RE-LEASING OR SELLING
THE LEASED PROPERTY.
(B)
(I)
WITHOUT DEMAND OR NOTICE, LANDLORD OR ANY LANDLORD
DESIGNEE MAY RE-ENTER AND TAKE POSSESSION OF THE APPLICABLE LEASED PROPERTY; AND
REPOSSESS SUCH LEASED PROPERTY AS OF THE LANDLORD'S FORMER ESTATE; AND, TO THE
EXTENT PERMITTED BY LAW WITH RESPECT TO A CORRECTIONAL OR DETENTION FACILITY,
EXPEL TENANT AND THOSE CLAIMING THROUGH OR UNDER TENANT FROM SUCH LEASED
PROPERTY; AND, REMOVE THE EFFECTS OF BOTH OR EITHER, WITHOUT BEING DEEMED GUILTY
OF ANY MANNER OF TRESPASS AND WITHOUT PREJUDICE TO ANY REMEDIES FOR ARREARS OF
RENT OR PRECEDING BREACH OF COVENANTS OR CONDITIONS.
IF LANDLORD OR LANDLORD'S
DESIGNEE ELECTS TO RE-ENTER THE LEASED PROPERTY AS PROVIDED IN THIS
SECTION 10.02(B) OR IF LANDLORD OR LANDLORD'S DESIGNEE TAKES POSSESSION OF SUCH