Bankruptcy of Lessee. The provisions of paragraph C and E Section 13.01 above shall only apply with respect to the Lessee which is the then owner of the leasehold estate. Notwithstanding the provisions of Section 13.01 to the contrary, the happening of any of the Events of Default mentioned in paragraph C or E of Section 13.01 above shall not operate or permit Lessor to declare a default hereunder or terminate this Lease so long as all covenants of Lessee hereunder shall be performed by Lessee or its successor in interest or a Leasehold Mortgagee in accordance with the terms of this Lease.
Bankruptcy of Lessee. In the event of the bankruptcy, reorganization, liquidation, or dissolution of the Lessee, or in the event Lessee shall make an assignment for the benefit of creditors, or in the event Lessee shall seek similar relief under any present or future Federal or State bankruptcy act, which relief results in a stay of the termination of this Lease, then, the rent payable hereunder shall be deemed to be an administrative expense. In addition, the Lessee, as debtor in possession, or if appointed, the Trustee in bankruptcy, must assume or reject this Lease within sixty (60) days (or such shorter period of time as may be permitted by law) after the filing of the petition in bankruptcy.
Bankruptcy of Lessee. This guaranty will continue unchanged by any bank- ruptcy, reorganization, or insolvency of CONSUMER DIRECT or any successor or assignee thereof or by any disaffirmance or abandonment of the Lease by a trustee or CONSUMER DIRECT.
Bankruptcy of Lessee. (a) If, following the filing of a motion or petition by or against Lessee in a bankruptcy court, Lessor shall not be permitted to terminate this Lease as herein provided because of the provisions of Title 11 of the United States Code relating to Bankruptcy, as amended (the “Bankruptcy Code”), then Lessee (other than Lessee as a “Debtor-in-Possession”) and any trustee for Lessee agree to promptly, but no later than sixty (60) days after motion or petition by Lessor to the bankruptcy court, assume or reject this Lease, and Lessee agrees not to seek or request any extension or adjournment of any motion or petition to assume or reject this Lease by Lessor with such court. Such Lessee’s, or the trustee’s, failure to assume this Lease within said sixty (60)-day period shall be deemed a rejection. Lessor shall thereupon immediately be entitled to possession of the Premises and any applicable leased Equipment without further obligation to Lessee or the trustee, and this Lease shall be terminated, except that Lessor’s right to damages for Lessee’s default shall survive such termination.
(b) Lessee (including Lessee as a “Debtor-in-Possession”) or any trustee for Lessee may only assume this Lease if (i) it cures or provides adequate assurance that the trustee will promptly cure any default hereunder, (ii) it compensates or provides adequate assurance that the Lessee will promptly compensate Lessor for any actual pecuniary loss to Lessor resulting from Lessee’s default, and (iii) it provides adequate assurance of future performance under this Lease by Lessee. In no event after the assumption of this Lease by Lessee (other than Lessee as a “Debtor-in-Possession”) or any trustee for Lessee shall any then-existing default remain uncured for a period in excess of ten (10) days.
Bankruptcy of Lessee. If any Lessee is or becomes the subject of any proceeding under the Federal Bankruptcy Code, as amended from time to time, or any other federal, state or local statute which provides for the possible termination or rejection of the Leases assigned hereby, Borrower covenants and agrees that if any such Lease is so terminated or rejected, no settlement for damages shall be made without the prior written consent of Lender, and any check in payment of damages for termination or rejection of any such Lease will be made payable both to Borrower and Lender. Borrower hereby assigns any such payment to Lender and further covenants and agrees that upon the request of Lender, it will duly endorse to the order of the Lender any such check.
Bankruptcy of Lessee. If any adjudication of bankruptcy or insolvency be rendered against LESSEE herein or if a receiver of the assets or business of the LESSEE shall be appointed, or if any sale or attempted sale of the leasehold interest hereby created shall be made under or by virtue of any execution or other judicial process, LESSOR may at its option immediately terminate this lease.
Bankruptcy of Lessee. In the event of the commencement of a bankruptcy proceeding concerning the Lessee, the Lessor agrees and acknowledges that the actual or deemed rejection of any of the Leases (or any New Lease (as defined below) entered into pursuant to the terms of this Agreement) under any provision of the Bankruptcy Code (Title 11, United States Code) or any successor law having similar effect, shall not effect a termination of any of the Leases or affect or impair Leasehold Mortgagee’s lien thereon or rights with respect thereto; provided that Leasehold Mortgagee or its assignee enters into a New Lease within ninety (90) days after such rejection and fully performs all of the outstanding obligations of Lessee prior to entering into such New Lease which are capable of being cured. If any of the Leases has been terminated by operation of law, or if any of the Leases is terminated for any reason, Xxxxxx agrees that promptly upon the written request of Leasehold Mortgagee, Lessor will enter into a new lease (“New Lease”) of the applicable Premises with Leasehold Mortgagee upon the same terms and conditions as the applicable Lease, so long as all events of default which are capable of being cured by Leasehold Mortgagee have been cured.
Bankruptcy of Lessee a. If at any time prior to the commencement of the term of this lease there shall be filed by or against LESSEE in any court pursuant to any statute either of the United States or of any state, a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of LESSEE'S property, and within thirty (30) days thereof LESSEE fails to secure a discharge thereof, or if LESSEE makes an assignment for the benefit of creditors or petitions for or enters into an arrangement, then this lease shall, at LESSOR'S option, be terminated, in which event neither LESSEE, nor any person claiming through or under LESSEE or by virtue of any statute or of an order of any court, shall be entitled to possession of the Premises, and LESSOR, in addition to the other rights and remedies of any other provision herein or elsewhere in this lease contained, or by virtue of any statute or rule of law, may retain as liquidated damages any rent, security deposit or monies received by LESSOR from LESSEE or others on behalf of LESSEE.
b. If at the commencement date of the term of this lease, or if at any time during the term, there shall be filed by or against LESSEE in any court pursuant to any statute, either of the United States or of any state, a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of the LESSEE'S property, and if within thirty (30) days thereof LESSEE fails to secure a discharge thereof, or if LESSEE makes an assignment for the benefit of creditors or petitions for or enters into an arrangement, then this lease, at the option of LESSOR, may be terminated, in which event neither LESSEE nor any person claiming through or under LESSEE by virtue of any statute or of an order of any court, shall be entitled to possession or to remain in possession of the Premises, but shall forthwith quit and surrender the Premises, and LESSOR, in addition to the other rights and remedies it has by virtue of any other provision herein or elsewhere in this lease contained, or by virtue of any statute or rule of law, may retain as liquidated damages any rent, security deposit or monies received by LESSOR from LESSEE or others on behalf of LESSEE.
c. It is agreed that in the event of the termination of this lease pursuant to Paragraphs a. or b. of this Section 27, LESSOR shall forthwith, not-withstanding any other provisions of this lease to the contrary, be ...
Bankruptcy of Lessee. If at any time during the term of this Agreement proceedings in bankruptcy are instituted by or against the Lessee, or if a receiver of the business or assets of Lessee is appointed and such proceeding or appointment is not dismissed within sixty (60) days of filing, or the Lessee makes an assignment for the benefit of creditors, Lessor may, at its option, immediately take possession of the Leased Premises and terminate this Agreement.
Bankruptcy of Lessee. Should the Lessee, at any time during the term -------------------- of this lease, suffer or permit an involuntary or voluntary, petition in bankruptcy to be filed against it, or to make any assignment for the benefit of its creditors, or should a receiver or trustee be appointed for the Lessee's property and said appointment not vacated within sixty (60) days thereafter, or should the Lessee's leasehold interest be levied on and the lien thereof not discharged within sixty (60) days after said levy has been made, then, in such event, and upon the happening of either or any of said events, the Lessors shall have the right, at their election, to consider the same a default on the part of the Lessee of the terms and provisions hereof, and the Lessors may then declare a forfeiture of this lease. This paragraph is in furtherance, and not a limitation, of the powers herein conferred upon the Lessors.
