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.
The Delaware Default Remedy Clause is a legal provision that is commonly included in contracts and agreements governed by Delaware law. This clause outlines the remedies available to parties in the event of a default, breach, or other violation of the agreement. One type of Delaware Default Remedy Clause is the "Traditional Default Remedy Clause." This clause typically provides the non-breaching party with the option to terminate the agreement and seek damages as a result of the default. It may also allow the non-breaching party to pursue specific performance, which requires the breaching party to fulfill their contractual obligations. Another type is the "Equitable Default Remedy Clause." This clause is designed to provide equitable relief to the non-breaching party in case of a default. Equitable remedies often include injunctions, restraining orders, and other non-monetary forms of relief. This type of clause is usually included in agreements where monetary damages may not adequately compensate the non-breaching party. The "Cure Period Default Remedy Clause" is another variation. This clause grants the breaching party a specified period of time to cure the default before the non-breaching party can exercise their remedies. The cure period allows the breaching party an opportunity to rectify the default and maintain the agreement. Delaware law grants parties the freedom to negotiate and customize the Default Remedy Clause according to their specific needs. However, it is crucial to ensure that the clause complies with Delaware statutory and common law requirements, including providing reasonable and fair remedies. Consulting legal counsel is recommended to draft an effective Delaware Default Remedy Clause that protects the rights and interests of all parties involved.
