8x8 2016 Annual Report Download - page 124
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Please find page 124 of the 2016 8x8 annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.A. LandlordmayterminateTenant'srighttopossessionofthePremises,inwhichcasethisLeaseshallterminateandTenantshallimmediately
surrenderpossessionofthePremisestoLandlord.NoactbyLandlordotherthangivingNoticetoTenantofLandlord'selectiontoterminate
Tenant'srighttopossessionshallterminatethisLease.Actsofmaintenance,effortstoreletthePremises,ortheappointmentofareceiveron
Landlord'sinitiativetoprotectLandlord'sinterestunderthisLeaseshallnotconstituteaterminationofTenant'srighttopossession.
TerminationshallterminateTenant'srighttopossessionofthePremisesbutshallnotrelieveTenantofanyobligationunderthisLeasewhich
hasaccruedpriortothedateofsuchtermination.Uponsuchtermination,Landlordshallhavetherighttore-enterthePremises,andremove
allpersonsandproperty,andLandlordshallalsobeentitledtorecoverfromTenant:
I. TheworthatthetimeofawardoftheunpaidMonthlyRentandAdditionalRentwhichhadbeenearnedatthetimeoftermination;
II. TheworthatthetimeofawardoftheamountbywhichtheunpaidMonthlyRentandAdditionalRentwhichwouldhavebeenearned
afterterminationuntilthetimeofawardexceedstheamountofsuchrentallossthatTenantprovescouldhavebeenreasonably
avoided;
III. TheworthatthetimeofawardoftheamountbywhichtheunpaidMonthlyRentandAdditionalRentforthebalanceoftheTermafter
thetimeofawardexceedstheamountofsuchrentallossthatTenantprovescouldbereasonablyavoided;
IV. AnyotheramountnecessarytocompensateLandlordforallthedetrimentproximatelycausedbyTenant'sfailuretoperformits
obligationsunderthisLeaseorwhichintheordinarycourseofthingswouldbelikelytoresultfromTenant'sdefault,including,butnot
limitedto,thecostofrecoveringpossessionofthePremises,commissionsandotherexpensesofreletting,includingnecessaryrepair,
demolitionandrenovationofthePremisestotheconditionexistingimmediatelypriortoTenant'soccupancy,theunamortizedportion
ofanybrokeragecommissionsfundedbyLandlordinconnectionwiththisLease,thecostofrectifyinganydamagetothePremises
occasionedbytheactoromissionofTenant,reasonableattorneys'fees,andanyotherreasonablecosts;and
V. AtLandlord'selection,allotheramountsinadditiontoorinlieuoftheforegoingasmaybepermittedbyApplicableLaw.
AsusedinSubsections(i)and(ii)above,the"worthatthetimeofaward"shallbecomputedbyallowinginterestatthemaximumlegalrate
permittedbyApplicableLaw.AsusedinSubsection(iii)above,the"worthatthetimeofaward"shallbecomputedbydiscountingtheamount
atthediscountrateoftheFederalReserveBankofSanFranciscoatthetimeofawardplusonepercent(1%).
B. LandlordmayelectnottoterminateTenant'srighttopossessionofthePremises,inwhicheventthisLeasewillcontinueinfullforceand
effectaslongasLandlorddoesnotterminateTenant'srighttopossession,andLandlordshallhavetheremedydescribedinCaliforniaCivil
Codesection1951.4(lessormaycontinueleaseineffectafterlessee'sbreachandabandonmentandrecoverrentasitbecomesdue,if
lesseehastherighttosubletorassign,subjectonlytoreasonablelimitations)andLandlordmaycontinuetoenforceallofitsrightsand
remediesunderthisLease,includingtherighttocollectallRentasitbecomesdue.IfLandlordelectstoavailitselfoftheremedyprovidedby
thisSection15.3(b),LandlordshallnotunreasonablywithholditsconsenttoanassignmentorsublettingofthePremisessubjecttothe
standardsandconditionsforLandlord'sconsentasarecontainedinthisLease(whichstandardsandconditionsTenantacknowledgesand
agreesarereasonableatthetimethisLeaseisexecutedbyTenant).Inaddition,ifTenanthasenteredintoasubleasewhichisvalidunder
thetermsofthisLease,Landlordmayalso,atitsoption,causeTenanttoassigntoLandlordtheinterestofTenantundersaidsublease,
including,butnotlimitedto,Tenant'srighttopaymentofRentasitbecomesdue.LandlordmayelecttoenterthePremisesandreletthem,or
anypartofthem,tothirdpartiesforTenant'saccount.TenantshallbeliableimmediatelytoLandlordforallcostsLandlordincursinreletting
thePremises,including,butnotlimitedto,broker'scommissions,expensesofcleaningandremodelingthePremisesrequiredbythe
reletting,attorneys'feesandlikecosts.RelettingcanbeforaperiodshorterorlongerthantheremainingTermofthisLeaseandforthe
entirePremisesoranyportionthereof.TenantshallpaytoLandlordtheMonthlyRentandAdditionalRentdueunderthisLeaseonthedates
theMonthlyRentandsuchAdditionalRentaredue,lesstheRentLandlordactuallycollectsfromanyreletting.Exceptasprovidedinthe
precedingsentence,ifLandlordreletsthePremisesoranyportionthereof,suchrelettingshallnotrelieveTenantofanyobligationhereunder.
Notwithstandingtheabove,noactbyLandlordallowedbythisSection15.3(b)shallterminatethisLeaseunlessLandlordnotifiesTenantin
writingthatLandlordelectstoterminatethisLease.
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