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. 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. (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.
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. (i) Lessee or Pledgor (A) admits in writing its inability to pay its debts generally as they become due; (B) files a petition or answer seeking reorganization or arrangement under the federal bankruptcy laws or any other Applicable Law; (C) makes an assignment for the benefit of creditors; (D) consents to the appointment of a receiver of the whole or any substantial part of its assets; or (E) has a petition in bankruptcy filed against it, and such petition is not dismissed within [***] after the filing thereof; or (ii) a court of competent jurisdiction enters an order, judgment, or decree appointing a receiver of the whole or any substantial part of Lxxxxx’s assets and such order, judgment or decree is not vacated or set aside or stayed within [***] from the date of entry thereof; or (iii) under the provisions of any other law for the relief or aid of debtors, any court of competent jurisdiction shall assume custody or control of the whole or any substantial part of Lxxxxx’s assets and such custody or control is not terminated or stayed within [***] from the date of assumption of such custody or control. Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed.
Bankruptcy of Lessee. Guarantor shall not commence or join with any other person in commencing any bankruptcy, reorganization or insolvency proceedings against Lessee or any person liable for Lessee’s obligations under the Lease. Guarantor shall file in any bankruptcy or other proceeding in which the filing of claims is required or permitted by law all claims which Guarantor may have against Lessee relating to any indebtedness of Lessee to Guarantor and will assign to Lessor all rights of Guarantor thereunder. Lessor shall have the sole right to accept or reject any plan proposed in such proceedings and to take any other action which a party filing a claim is entitled to do. In all such cases, whether in administration, bankruptcy, or otherwise, the person or persons authorized to pay such claim shall pay to Lessor the amount payable on such claim and, to the full extent necessary for that purpose, Guarantor hereby assigns to Lessor all of Guarantor’s right to any such payments or distributions to which Guarantor would otherwise be entitled; provided, however, that Guarantor’s obligations hereunder shall not be satisfied except to the extent that Lessor receives cash by reason of any such payments or distribution. If Lxxxxx receives anything hereunder other than cash, the same shall be held as collateral for amounts due under this Guaranty. If the Lease is rejected in any bankruptcy proceeding, it shall not affect Guarantor’s liability under this Guaranty for all of the obligations of Lessee under the Lease due or to become due thereunder, and in addition thereto, at the option of Lessor, Guarantor shall either assume the Lease and pay and perform all of the obligations of the tenant thereunder or enter into a new lease with Lessor on substantially all of the terms and conditions of the Lease for the remaining term of the Lease.
Bankruptcy of Lessee. Guarantor shall not commence or join with any other person in commencing any involuntary bankruptcy, reorganization or insolvency proceedings against Lessee or any person liable for Lessee’s obligations under the Lease. If the Lease is rejected in any bankruptcy proceeding, it shall not affect Guarantor’s liability under this Guaranty for all of the obligations of Lessee under the Lease due or to become due thereunder, and in addition thereto, at the option of Lessor, Guarantor shall either assume the Lease and pay and perform all of the obligations of the Lessee thereunder or enter into a new lease with Lessor on substantially all of the terms and conditions of the Lease for the remaining term of the Lease.
