BANKRUPTCY OR INSOLVENCY OF TENANT. (a) If the Tenant shall be adjudicated a bankrupt or adjudged to be insolvent, or a receiver or trustee of the Tenant's property and affairs shall be appointed or if the Tenant shall make an assignment for the benefit of creditors in bankruptcy or applies for the appointment of a receiver or if any execution or attachment shall be issued against the Tenant or any of the Tenant's property whereupon the Leased Premises or any portion thereof shall be taken or occupied or attempted to be taken or occupied by someone other than the Tenant and such execution, petition or attachment shall not be set aside, vacated, discharged, disputed by legal proceedings or bonded within seven (7) days after the issuance of same or if the Tenant attempts to make a bulk sale or move the bulk of its fixtures out of the Leased Premises then, in any of such events, the then current month's rent and rent for the next three (3) ensuing months shall immediately become due and be paid and this Lease may at the option of the Landlord be cancelled and terminated, whether or not the term has commenced or whether or not any rent has been prepaid. For the purpose of this Lease accelerated rent shall include all amounts payable by the Tenant as rent and additional rent and shall be calculated on the basis of the average of the amounts thereof so paid by or payable by the Tenant for each month during the period of twelve (12) months immediately preceding such termination or during the expired term of this Lease if less than twelve (12)
BANKRUPTCY OR INSOLVENCY OF TENANT. That if the term hereby granted or any of the goods and chattels of the tenant or his assigns shall be at any time seized or taken in execution or in attachment by any creditors of the tenant or his assigns, or if the tenant or his assigns shall make any assignment for the benefit of creditors, or becoming bankrupt or insolvent, shall take the benefit of any Act that may be in force for bankrupt or insolvent debtors, or if any writ of execution shall issue against the goods and chattels of the tenant or his assigns, the then current year’s rent shall immediately become due and payable, and the said term shall immediately become forfeited and void at the option of the landlord.
BANKRUPTCY OR INSOLVENCY OF TENANT. In the event Tenant is adjudicated a bankrupt or in the event of a judicial sale or other transfer of Tenant's leasehold interest by reason by any bankruptcy or insolvency proceedings or by any other operation of law, but not by death, and such bankruptcy, judicial sale or transfer has not been vacated or set aside within ten (10) days from the giving of notice thereof by Landlord to Tenant, then and in any such events. Landlord may, at its option, immediately terminate this lease, reenter said premises, upon giving of ten (10) days written notice by Landlord to Tenant, all to the extent permitted by applicable law.
BANKRUPTCY OR INSOLVENCY OF TENANT. In the event TENANT is adjudicated a bankrupt or in the event of a judicial sale or other transfer of TENANT'S leasehold interest by reason by any bankruptcy or insolvency proceedings or by other operation of law, but not by death, and such bankruptcy, judicial sale or transfer has not been vacated or set aside within ten (10) days from the giving of notice thereof by LANDLORD to TENANT, then and in any such events, LANDLORD may, at its option, immediately terminate this Lease, reenter said premises, upon giving of ten (10) days written notice by LANDLORD to TENANT, all to the extent permitted by applicable law.
BANKRUPTCY OR INSOLVENCY OF TENANT. The occurrence of any of the following shall be deemed a default of Tenant:
(a) A petition in bankruptcy filed by or against Tenant;
(b) A petition or answer filed by or against Tenant seeking a reorganization, liquidation, dissolution or other relief of the same or different kind under any provision of the Bankruptcy Act;
(c) Adjudication of Tenant as bankrupt or insolvent, or insolvency in the bankruptcy equity sense;
(d) An assignment of all or substantially all of the assets of Tenant for the benefit of creditors;
(e) A proceeding by or against Tenant for the appointment of a trustee, receiver, conservator, or liquidator of Tenant with respect to all or substantially all of the assets of Tenant;
(f) A proceeding by or against Tenant for the dissolution or liquidation of Tenant, or the taking of possession of the assets of Tenant by any governmental authority in connection with any dissolution or liquidation; or
(g) The taking by any person of the leaseholds created by this Lease, or any part of the leasehold, on execution, attachment, or other process of law or equity against Tenant. On the occurrence of any default described in this Paragraph 11, Landlord shall give Tenant written notice of the default. If the default is not corrected within thirty (30) days after date of the notice, Landlord may, in addition to any other remedy or right given under this Lease or by law, give notice to Tenant that this Lease shall terminate on the date specified in the notice, which date shall not be earlier than thirty (30) days after the giving of the notice.
BANKRUPTCY OR INSOLVENCY OF TENANT. In the event Tenant is adjudicated a bankrupt or in the event of a judicial sale or other transfer of Tenant’s leasehold interest by reason by any bankruptcy or insolvency proceedings or by other operation of law, but not by death, and such bankruptcy, judicial sale or transfer has not been vacated or set aside with 3 days from the giving of notice thereof by Landlord to Tenant, then and any such events, Landlord may, at its option, immediately terminate this lease re-enter said premises upon giving of 3 days written notice by Landlord to Tenant all to the extent permitted by applicable law. (c.) In (a) and (b) above, waiver as to any default shall not constitute a waiver of any subsequent default or defaults. (d.) Acceptance of keys, advertising and re-renting by the Landlord upon the Tenant’s default shall be construed only as an effort to mitigate damages by the Landlord, and not as an agreement to terminate this lease. (e.) In the event Tenant has not remedied a default in a timely matter following a Notice of Default, Landlord may proceed with all available remedies at law or in equity, including but not limited to the following:
BANKRUPTCY OR INSOLVENCY OF TENANT. Notwithstanding any other provisions in this Lease, the bankruptcy, insolvency or re-organization of the Tenant under any laws then applicable or the appointment of a trustee for the benefit of creditors, receiver, interim receiver, receiver-manager or custodian or liquidator of all or any portion of the property of the Tenant will not be a breach of this Lease so long as this Lease is otherwise complied with and so long as any liquidator, custodian, trustee, receiver, interim receiver or other such person agrees to be bound by the Tenant's obligations under this Lease as if it were the Tenant.
BANKRUPTCY OR INSOLVENCY OF TENANT. The Tenant agrees that if at any time during the term of this lease the Tenant becomes insolvent, is decreed to be bankrupt or makes any assignment for the benefit of creditors, or if a receiver is appointed for the Tenant, then the Landlord, at the Landlord's option, may terminate this lease. To exercise this option to terminate this Lease, the Landlord must give notice thereof ("Notice") to any trustee, receiver, or other person in charge of the liquidation of the Tenant's estate or property. The Landlord and Tenant agree that if the Landlord so terminates this Lease, such termination shall not discharge or release any rent payments required to be paid under this Lease or any liability then accrued pursuant to the terms, conditions or covenants of this Lease. If the Landlord terminates this Lease as set forth in this paragraph, then the Tenant agrees to vacate the demised premises within thirty (30) days from the receipt of the Notice by the Tenant.
BANKRUPTCY OR INSOLVENCY OF TENANT. To the extent permitted by Laws, this Lease, and the Term and estate hereby granted, are subject to the limitation that, whenever Tenant shall make an assignment for the benefit of creditors, or shall consent to, or acquiesce in, the appointment of a liquidator, receiver, trustee, or other custodian for itself or for the whole or any part of its properties or assets, or shall commence a voluntary case for relief under the United States Bankruptcy Code (“Bankruptcy Code”) or file a petition or take advantage of any bankruptcy or insolvency act or applicable law of like import, or whenever an involuntary case under the Bankruptcy Code shall be commenced against Tenant, then, Landlord (a) at any time after Landlord learns of any such event, or (b) if such event occurs without the acquiescence of Tenant, at any time after the event continues for sixty (60) days, may give Tenant a notice of intention to end the Term upon the expiration of three (3) days from the date of service of such notice of intention, and upon the expiration of such three (3) day period, this Lease and the Term and estate hereby granted shall terminate with the same effect as if such date were the Expiration Date, provided, however, that Tenant shall remain liable for damages as provided in Article 20.
BANKRUPTCY OR INSOLVENCY OF TENANT. (a) It is agreed that this lease and all the rights of the Tenant hereunder shall at the option of the Landlord, terminate upon the Tenant being by any Court adjudged a bankrupt or insolvent, or upon the Tenant making an assignment for the benefit of creditors, or upon the levy of any attachment or legal process upon any equipment, fixtures or other property of the Tenant located upon the premises and not released or discharged by Tenant within ten (10) days after notice from Landlord.
