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. Neither this Lease, nor any interest therin, ------------------- nor any estate thereby created shall pass to any trustee or receiver or assignee for the benefit of creditors or otherwise by operation of law. If the estate created shall be taken or attempted to be taken in execution or by other process of law, or if Lessee shall be adjudicated insolvent or bankrupt pursuant to the provisions of any state or federal insolvency or bankruptcy act, or if a receiver or trustee of the property of Lessee shall be appointed by reason of Lessee's insolvency or inability to pay its debts, or if any assignment shall be made or attempted to be made of Lessee's property for the benefit of creditors, then and in any such event Lessee will be deemed in default under this Lease. The allowance of any petition under the bankruptcy law, or the appointment of a trustee or receiver of Lessor or its assets, shall be conclusive evidence that Lessee caused, or gave cause, therefor in violation of this Lease unless such allowance of the petition, or the appointment of a trustee or receiver, is vacated within thirty (30) days after such allowance or appointment. Any act described in this Section 30 shall be deemed a material breach of Lessee's obligation hereunder, and at any time when such breach exists Lessor may, at its option and in addition to and independent of any other remedy available to Lessor, terminate this Lease and all demised Premises with or without prior notice in writing of the election of Lessor so to terminate, and to re-enter and repossess the demised Premises with or without prior notice.
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.
Bankruptcy of Lessee. Lessee hereby acknowledges and agrees that to -------------------- the extent permitted by applicable law, the accounts comprising a portion of the Collateral, including without limitation the Bank Accounts, and all Funds (collectively, "Accounts") shall not constitute the property of Lessee or any estate of Lessee, and, in the event of the filing of a voluntary of involuntary bankruptcy petition with respect to Lessee, the Accounts shall not be subject to Lessee's use during the pendency of any such proceeding and shall not constitute cash collateral within the meaning of the federal bankruptcy laws. Lessee further agrees that immediately upon the filing of a petition in bankruptcy with respect to Lessee, Lessee shall consent to the entry of an order by the appropriate court granting the Lessor such relief as may be necessary to allow Agent, on behalf of Lessor, to possess and use freely all funds in the Accounts.
Bankruptcy of Lessee. In the event that Lessee shall make an assignment for the benefit of creditors, or shall file a voluntary petition under any state or federal bankruptcy or insolvency law, or if an involuntary petition alleging an act of bankruptcy or insolvency shall be filed against Lessee under any state or federal bankruptcy or insolvency law, or whenever a petition shall be filed by or against Lessee under the reorganization provisions of the United States Bankruptcy Act or under the provisions of any law of like import, or whenever a petition shall be filed by Lessee under the arrangement provisions of the United States Bankruptcy Act or similar law, or whenever a receiver of Lessee, or of, or for, the property of Lessee shall be appointed, or Xxxxxx admits it is insolvent or is not able to pay its debts as they mature, and such proceeding or petition is not dismissed within sixty (60) days of the date it is filed, then such event shall constitute a default by Lessee under this Lease, whereupon Lessor may exercise its remedies as provided in Paragraph R- 14 below.
