Circuit City 2005 Annual Report Download - page 91

and the effective date of rejection is on or after the date upon which that month’s Rent is due and owing, then the Rent
owing under this Lease for the month during which the effective date of such rejection occurs shall be due and payable
in full and shall not be prorated.
(b) At the expiration or earlier termination of the Term of this Lease, Tenant shall surrender the Demised
Premises and all improvements, alterations and additions thereto, and keys therefor to Landlord, clean and neat, and in
the same condition as at the Lease Commencement Date, excepting normal wear and tear, condemnation and casualty
other than that required to be insured against by Tenant hereunder.
(c) If Tenant remains in possession of the Demised Premises after expiration of the Term, with or without
Landlord’s acquiescence and without any express agreement of the parties, Tenant shall be a tenant-at-sufferance at the
greater of (i) one hundred fifty percent (150%) of the then current fair market base rental value of the Demised
Premises or (ii) one hundred fifty percent (150%) of the Base Rent in effect at the end of the Term. Tenant shall also
continue to pay all other Additional Rent due hereunder. Notwithstanding the foregoing, there shall be no renewal of
this Lease by operation of law or otherwise, and, in addition to and without limiting such rights and remedies as may be
available to Landlord at law or in equity as a result of Tenant’s holding over beyond the Term, Landlord shall be
entitled to exercise any and all rights and remedies available to Landlord in respect of an Event of Default hereunder (it
being agreed that any such holdover shall be deemed an immediate Event of Default hereunder). In addition to the
foregoing, Tenant shall be liable for all damages, direct and consequential, incurred by Landlord as a result of such
holdover. No receipt of money by Landlord from Tenant after the termination of this Lease or Tenant’s right of
possession of the Demised Premises shall reinstate, continue or extend the Term or Tenant’s right of possession. The
provisions of this subsection 30(c) shall survive the expiration of the Term. Provided Tenant is not in default under the
Lease, upon written notice to be received by Landlord at least ninety (90) days prior to the expiration of the Term,
Tenant may elect to extend the Term one time for a period of thirty (30) days at the same Base Rent payable by Tenant
during the last full month of the Term immediately proceeding the scheduled expiration of the Term.
31. Reserved .
32. Late Payments . In the event any installment of rent, inclusive of Base Rent, or Additional Rent or other
sums due hereunder, if any, is not paid (i) within five (5) days after Tenant’s receipt of written notice of such failure to
pay on the first occasion during any twelve (12) month period, or (ii) as and when due with respect to any subsequent
late payments in any twelve (12) month period, Tenant shall pay an administrative fee (the “Administrative Fee”)
equal
to five percent (5%) of such past due amount, plus interest on the amount past due at the lesser of (i) the maximum
interest rate allowed by law or (ii) a rate of fifteen percent (15%) per annum (the “Interest Rate”), in order to defray the
additional expenses incurred by Landlord as a result of such late payment. The Administrative Fee is in addition to, and
not in lieu of, any of the Landlord’s remedies hereunder.
33. Rules and Regulations . Tenant agrees to abide by the rules and regulations set forth on Exhibit D attached
hereto, as well as other rules and regulations reasonably promulgated by Landlord from time to time, so long as such
other rules and regulations do not materially and adversely affect the rights of Tenant hereunder.
34. Quiet Enjoyment . So long as Tenant has not committed an Event of Default hereunder, Landlord agrees
that Tenant shall have the right to quietly use and enjoy the Demised Premises for the Term.
35. Miscellaneous .
(a) The parties hereto hereby covenant and agree that Landlord shall receive the Base Rent, Additional Rent
and all other sums payable by Tenant hereinabove provided as net income from the Demised Premises, without any
abatement (except as set forth in Section 20 and Section 21), reduction, set-off, counterclaim, defense or deduction
whatsoever.
(b) If any clause or provision of this Lease is determined to be illegal, invalid or unenforceable under
present or future laws effective during the Term, then and in that event, it is the intention of the parties hereto that the
remainder of this Lease shall not be affected thereby, and that in lieu of such illegal, invalid or unenforceable clause or
provision there shall be substituted a clause or provision as similar in terms to such illegal, invalid or unenforceable
clause or provision as may be possible and be legal, valid and enforceable.