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 Kansas Default Remedy Clause is an important legal provision found in contracts and agreements within the state of Kansas. It serves as a safeguard for parties involved in a contract to address potential breaches or defaults by one of the parties. The Kansas Default Remedy Clause, also commonly referred to as a Default Clause or a Breach of Contract Clause, establishes the consequences and remedies that will be enforced when a party fails to fulfill their obligations under the terms of the agreement. This clause is crucial for ensuring that the non-breaching party receives some form of compensation or remedy in the event of a default. There are various types of Kansas Default Remedy Clauses, each tailored to suit the specific needs of the parties involved. Some of these include: 1. Liquidated Damages Clause: This type of clause specifies a fixed amount of money that the breaching party must pay to the non-breaching party as compensation for the damages caused by the breach. The amount is predetermined and agreed upon by the parties during contract negotiation. 2. Specific Performance Clause: In certain circumstances, monetary compensation may not be an adequate remedy for a breach. A specific performance clause allows the non-breaching party to seek a court order compelling the breaching party to fulfill their obligations under the contract. This remedy is commonly used when the subject of the contract is unique or of high value. 3. Termination Clause: This clause enables either party to terminate the contract in the event of a breach. It may include provisions for notifying the breaching party, allowing them a specified period of time to rectify the breach before termination can occur. 4. Cure Period Clause: A cure period clause grants the breaching party a certain amount of time to cure or fix the breach before the non-breaching party can take further legal action. This clause allows the defaulting party an opportunity to remedy their breach and avoid more severe consequences. 5. Alternative Dispute Resolution Clause: This clause outlines procedures for resolving disputes arising from a breach of contract, such as mediation or arbitration. It provides an alternative to litigation and promotes a more cost-effective and efficient resolution process. As with any legal provision, it is crucial for all parties involved in a contract to carefully review and understand the Kansas Default Remedy Clause before entering into an agreement. Consulting with an experienced attorney can help ensure that the clause is properly drafted and addresses the specific needs and circumstances of the contract at hand.
