Common use of Bankruptcy Filings Clause in Contracts

Bankruptcy Filings. (a) Upon the filing of a petition by or against Tenant under any chapter of the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows: (i) to perform each and every obligation of Tenant under this Lease including, without limitation, the continuous and uninterrupted occupancy of the Premises as is required under Article 16 until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all Rent and other charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of such petition under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable so long as notice of such period is given) of the filing of a petition under any other chapter of the Bankruptcy Code, Tenant hereby knowingly and voluntarily waiving any right to seek time additional to the minimum period set forth in 11 U.S.C. § 365(d)(4) or any similar statute to assume or reject this Lease and hereby acknowledging that there does not exist, nor could there exist, cause to seek such extension; (iv) to give Landlord at least forty-five (45) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give Landlord at least thirty (30) days’ prior written notice of any abandonment of the Premises; any such abandonment to be deemed a rejection of this Lease; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United State Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same. (b) No default of this Lease by Tenant, either prior to or subsequent to the filing of such a petition, shall be deemed to have been waived unless expressly done so in writing by Landlord. (c) Included within and in addition to any other conditions or obligations imposed upon Tenant, any Trustee, or any successor of Tenant as adequate assurance of future performance in the event of assumption and/or assignment pursuant to the Bankruptcy Code are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss within not more than thirty (30) days of assumption and/or assignment; (ii) the deposit of a Letter of Credit pursuant to the terms of this Lease; (iii) the use of the Premises as set forth herein is unchanged; (iv) the prior written consent of each Leasehold Mortgagee; and (v) no physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease. Tenant also expressly acknowledges and agrees that neither Tenant nor any successor in interest (including but not limited to a trustee in bankruptcy appointed to serve as trustee for Tenant) may assume or assign Tenant’s rights under this Lease pursuant to 11 U.S.C. § 365 (or any similar statute) unless, in addition to the provisions of 11 U.S.C. § 365(b)(3), each of the following conditions, which Landlord and Tenant acknowledge are commercially reasonable in the context of a bankruptcy proceeding, have been fully satisfied and Landlord has so acknowledged in writing that: (A) The assumption of the Lease will not breach any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound relating to the Building; (B) The assumption of the Lease will not disrupt, in Landlord’s judgment, the tenant mix of the Building which, in Landlord’s judgment, would be most beneficial to all of the tenants of the Building and would enhance the image, reputation, and profitability of the Building; (C) The assumption of the Lease will not result in alteration of the Premises or the making of physical changes of any kind to the Premises unless in compliance with the applicable provisions of this Lease. (d) For purposes of this Section 31.4, the word “Tenant” shall mean any one or more persons primarily or secondarily liable for Tenant’s obligations under the Lease.

Bankruptcy Filings. (a) Upon the filing of a petition by or against Tenant under any chapter of the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows: (i) to perform each and every obligation of Tenant under this Lease including, without limitation, the continuous and uninterrupted occupancy of the Premises as is required under Article 16 until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all Rent and other charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of such petition under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable so long as notice of such period is given) of the filing of a petition under any other chapter of the Bankruptcy Code, Tenant hereby knowingly and voluntarily waiving any right to seek time additional to the minimum period set forth in 11 U.S.C. § 365(d)(4) or any similar statute to assume or reject this Lease and hereby acknowledging that there does not exist, nor could there exist, cause to seek such extension; (iv) to give Landlord at least forty-five (45) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give Landlord at least thirty (30) days’ prior written notice of any abandonment of the Premises; any such abandonment to be deemed a rejection of this Lease; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United State Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same. (b) No default of this Lease by Tenant, either prior to or subsequent to the filing of such a petition, shall be deemed to have been waived unless expressly done so in writing by Landlord. (c) Included within and in addition to any other conditions or obligations imposed upon Tenant, any Trustee, or any successor of Tenant as adequate assurance of future performance in the event of assumption and/or assignment pursuant to the Bankruptcy Code are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss within not more than thirty (30) days of assumption and/or assignment; (ii) the deposit of a Letter of Credit pursuant to the terms of this Lease; (iii) the use of the Premises as set forth herein is unchanged; (iv) the prior written consent of each Leasehold Mortgagee; Mortgagee and Prior Lessor, and (v) no physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease. Tenant also expressly acknowledges and agrees that neither Tenant nor any successor in interest (including but not limited to a trustee in bankruptcy appointed to serve as trustee for Tenant) may assume or assign Tenant’s rights under this Lease pursuant to 11 U.S.C. § 365 (or any similar statute) unless, in addition to the provisions of 11 U.S.C. § 365(b)(3), each of the following conditions, which Landlord and Tenant acknowledge are commercially reasonable in the context of a bankruptcy proceeding, have been fully satisfied and Landlord has so acknowledged in writing that: (A) The assumption of the Lease will not breach any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound relating to the BuildingBuildings; (B) The assumption of the Lease will not disrupt, in Landlord’s judgment, the tenant mix of the Building Buildings which, in Landlord’s judgment, would be most beneficial to all of the tenants of the Building Buildings and would enhance the image, reputation, and profitability of the BuildingBuildings; (C) The assumption of the Lease will not result in alteration of the Premises or the making of physical changes of any kind to the Premises unless in compliance with the applicable provisions of this Lease. (d) For purposes of this Section 31.4, the word “‘Tenant” shall mean any one or more persons primarily or secondarily liable for Tenant’s obligations under the Lease.

Bankruptcy Filings. (a) Upon the filing of a petition by or against Tenant under any chapter of the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows: : (i) to perform each and every obligation of Tenant under this Lease including, without limitation, the continuous and uninterrupted occupancy of the Premises as is required under Article 16 until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all Rent and other charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of such petition under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable so long as notice of such period is given) of the filing of a petition under any other chapter of the Bankruptcy Code, Tenant hereby knowingly and voluntarily waiving any right to seek time additional to the minimum period set forth in 11 U.S.C. § 365(d)(4) or any similar statute to assume or reject this Lease and hereby acknowledging that there does not exist, nor could there exist, cause to seek such extension; (iv) to give Landlord at least forty-five (45) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give Landlord at least thirty (30) days’ prior written notice of any abandonment of the Premises; any such abandonment to be deemed a rejection of this Lease; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United State Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same. (b) No default of this Lease by Tenant, either prior to or subsequent to the filing of such a petition, shall be deemed to have been waived unless expressly done so in writing by Landlord. (c) Included within and in addition to any other conditions or obligations imposed upon Tenant, any Trustee, or any successor of Tenant as adequate assurance of future performance in the event of assumption and/or assignment pursuant to the Bankruptcy Code are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss within not more than thirty (30) days of assumption and/or assignment; (ii) the deposit of a Letter of Credit pursuant to the terms of this Lease; (iii) the use of the Premises as set forth herein is unchanged; (iv) the prior written consent of each Leasehold Mortgagee; and (v) no physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease. Tenant also expressly acknowledges and agrees that neither Tenant nor any successor in interest (including but not limited to a trustee in bankruptcy appointed to serve as trustee for Tenant) may assume or assign Tenant’s rights under this Lease pursuant to 11 U.S.C. § 365 (or any similar statute) unless, in addition to the provisions of 11 U.S.C. § 365(b)(3), each of the following conditions, which Landlord and Tenant acknowledge are commercially reasonable in the context of a bankruptcy proceeding, have been fully satisfied and Landlord has so acknowledged in writing that: (A) The assumption of the Lease will not breach any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound relating to the Building; (B) The assumption of the Lease will not disrupt, in Landlord’s judgment, the tenant mix of the Building which, in Landlord’s judgment, would be most beneficial to all of the tenants of the Building and would enhance the image, reputation, and profitability of the Building; (C) The assumption of the Lease will not result in alteration of the Premises or the making of physical changes of any kind to the Premises unless in compliance with the applicable provisions of this Lease. (d) For purposes of this Section 31.4, the word “Tenant” shall mean any one or more persons primarily or secondarily liable for Tenant’s obligations under the Lease.

Bankruptcy Filings. (a) Upon the filing of a petition by or against Tenant under any chapter of the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows: : (i) to perform each and every obligation of Tenant under this Lease including, without limitation, the continuous and uninterrupted occupancy of the Premises as is required under Article 16 until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all Rent and other charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of such petition under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable so long as notice of such period is given) of the filing of a petition under any other chapter of the Bankruptcy Code, Tenant hereby knowingly and voluntarily waiving any right to seek time additional to the minimum period set forth in 11 U.S.C. § 365(d)(4) or any similar statute to assume or reject this Lease and hereby acknowledging that there does not exist, nor could there exist, cause to seek such extension; (iv) to give Landlord at least forty-five (45) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give Landlord at least thirty (30) days’ prior written notice of any abandonment of the Premises; any such abandonment to be deemed a rejection of this Lease; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United State Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same. (b) No default of this Lease by Tenant, either prior to or subsequent to the filing of such a petition, shall be deemed to have been waived unless expressly done so in writing by Landlord. (c) Included within and in addition to any other conditions or obligations imposed upon Tenant, any Trustee, or any successor of Tenant as adequate assurance of future performance in the event of assumption and/or assignment pursuant to the Bankruptcy Code are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss within not more than thirty (30) days of assumption and/or assignment; (ii) the deposit of a Letter of Credit pursuant to the terms of this Lease; (iii) the use of the Premises as set forth herein is unchanged; (iv) the prior written consent of each Leasehold MortgageeMortgagee and Prior Lessor; and (v) no physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease. Tenant also expressly acknowledges and agrees that neither Tenant nor any successor in interest (including but not limited to a trustee in bankruptcy appointed to serve as trustee for Tenant) may assume or assign Tenant’s rights under this Lease pursuant to 11 U.S.C. § 365 (or any similar statute) unless, in addition to the provisions of 11 U.S.C. § 365(b)(3), each of the following conditions, which Landlord and Tenant acknowledge are commercially reasonable in the context of a bankruptcy proceeding, have been fully satisfied and Landlord has so acknowledged in writing that: : (A) The assumption of the Lease will not breach any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound relating to the BuildingBuildings; (B) The assumption of the Lease will not disrupt, in Landlord’s judgment, the tenant mix of the Building Buildings which, in Landlord’s judgment, would be most beneficial to all of the tenants of the Building Buildings and would enhance the image, reputation, and profitability of the BuildingBuildings; (C) The assumption of the Lease will not result in alteration of the Premises or the making of physical changes of any kind to the Premises unless in compliance with the applicable provisions of this Lease. (d) For purposes of this Section 31.4, the word “Tenant” shall mean any one or more persons primarily or secondarily liable for Tenant’s obligations under the Lease.