Common use of Bankruptcy of Tenant Clause in Contracts

Bankruptcy of Tenant. 16.10.1 In the event that Tenant shall become a debtor in a case filed under Chapter 7 of the Bankruptcy Code and Tenant's trustee or Tenant shall elect to assume this Lease for the purpose of assigning the same or otherwise, such election and assignment may be made only if the provisions of SECTIONS 16.10.2 AND 16.10.4 are satisfied as if the election to assume were made in a case filed under Chapter 11 of the Bankruptcy Code. If Tenant or Tenant's trustee shall fail to elect to assume this Lease within sixty (60) days after the filing of such petition or such additional time as provided by the court within such sixty (60)-day period, this Lease shall be deemed to have been rejected. Immediately thereupon Landlord shall be entitled to possession of the Suite without further obligation to Tenant or Tenant's trustee and this Lease upon the election of Landlord shall terminate, but Landlord's right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.

Bankruptcy of Tenant. 16.10.1 (a) In the event that Tenant shall become a debtor in a case filed under Chapter 7 of the Bankruptcy Code and Tenant's ’s trustee or Tenant shall elect to assume this Lease for the purpose of assigning the same or otherwise, such election and assignment may be made only if the provisions of SECTIONS 16.10.2 AND 16.10.4 Section 13.6. (b) and Section 13.6. (d) are satisfied as if the election to assume were made in a case filed under Chapter 11 of the Bankruptcy Code. If Tenant or Tenant's ’s trustee shall fail to elect to assume this Lease within sixty (60) days after the filing of such petition or such additional time as provided by the court within such sixty (60)-day 60-day period, this Lease shall be deemed to have been rejected. Immediately rejected and immediately thereupon Landlord shall be entitled to possession of the Suite Premises without further obligation to Tenant or Tenant's ’s trustee and this Lease upon the election of Landlord shall terminate, but Landlord's ’s right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.

Bankruptcy of Tenant. 16.10.1 (a) In the event that Tenant shall become a debtor in a case filed under Chapter 7 of the Bankruptcy Code and Tenant's ’s trustee or Tenant shall elect to assume this Lease for the purpose of assigning the same or otherwise, such election and assignment may be made only if the provisions of SECTIONS 16.10.2 AND 16.10.4 Section 13.6.(b) and Section 13.6.(d) are satisfied as if the election to assume were made in a case filed under Chapter 11 of the Bankruptcy Code. If Tenant or Tenant's ’s trustee shall fail to elect to assume this Lease within sixty (60) days after the filing of such petition or such additional time as provided by the court within such sixty (60)-day 60-day period, this Lease shall be deemed to have been rejected. Immediately rejected and immediately thereupon Landlord shall be entitled to possession of the Suite Premises without further obligation to Tenant or Tenant's ’s trustee and this Lease upon the election of Landlord shall terminate, but Landlord's ’s right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.