Bankruptcy Clause. The Agent shall not be held liable in the event of bankruptcy or failure of the depository bank or savings and loan association where the monies due the Landlord are deposited if it is a federally insured fiduciary account.
Bankruptcy Clause. Notwithstanding any of the provisions of paragraph 18 above, if a petition in bankruptcy be filed by or against the Tenant in a court of competent jurisdiction, the Landlord shall have the right, at his option, to terminate this lease by giving notice in writing, by registered mail, to the receiver or trustee in bankruptcy, no later than ten (10) days from the date of the receipt by the Landlord of notice from such receiver or trustee in bankruptcy of the filing of such petition in bankruptcy by or against the Tenant.
Bankruptcy Clause. In the event that the bank is closed or is taken over by the banking authority of the State of Kentucky or other bank supervisory authority, at the option of the receiver or other legal representative of the bank, the maximum claim of the lessor for damages or indemnity for injury resulting from the rejection or abandonment of the unexpired lease shall in no event be in an amount exceeding the rent reserved by the lease, without acceleration, for 't-be year next succeeding the date of the surrender of the premises to the landlord or the date of re-entry of the landlord, whichever first occurs, whether before or after the closing of the bank, plus an amount equal to the unpaid rent accrued, without acceleration, up to such date."
Bankruptcy Clause. The Manager shall not be held liable in the event of a bankruptcy or failure of the depository bank or savings and loan association where monies due the Landlord are deposited if it is federally insured fiduciary account.
