245. Nature of penal rents.

An increased rent may be reserved in case the tenant commits a breach of the covenants of his lease1. Such a rent is commonly known as a 'penal rent'2. In general, however, it is not in the nature of a penalty, but is a liquidated sum or succession of sums payable by way of satisfaction3. If the increased rent is made payable as rent, and if it has once become payable, it will continue to be payable periodically during the residue of the term4, notwithstanding that the breach of covenant has been remedied (as, for example, where land which