Common use of Bankruptcy of Developer Clause in Contracts

Bankruptcy of Developer. Final adjudication or filing of a voluntary petition for bankruptcy by Developer. Provided, however, that in all cases, Landlord shall give Developer sixty (60) days prior written notice of its intention to terminate, during which time Developer shall have an opportunity to cure the default. However, if the default is of a nature such that it cannot be cured within sixty (60) days, Developer shall not be in default if Developer shall commence such use and diligently prosecute it to completion.

Bankruptcy of Developer. Final adjudication ad- judication or filing of a voluntary petition for bankruptcy by Developer. Provided, however, that in all cases, Landlord shall give Developer sixty (60) days prior written notice of its intention to terminate, during which time Developer shall have an opportunity to cure the default. However, if the default is of a nature such that it cannot be cured within sixty (60) days, Developer shall not be in default if Developer shall commence such use and diligently prosecute it to completion.