Common use of BANKRUPTCY OR SEIZURE Clause in Contracts

BANKRUPTCY OR SEIZURE. In the event that the Demised Premises shall, without the prior written consent of the Landlord, remain vacant or not used for a period of Fifteen (15) days, or the Demised Premises shall not be occupied by the Tenant within Fifteen (15) days of the Commencement Date or shall be used by any person other than the Tenant or for any other purpose than that for which the same were let, or in case the term or any of the goods and chattels of the Tenant shall be at any time seized in execution or attachment by any creditor of the Tenant or the Tenant shall make any assignment for the benefit of creditors or any bulk sale or become bankrupt or insolvent or take the benefit of any act now or hereafter in force for bankrupt or insolvent debtors or any order shall be made for the winding up of the Tenant, then in any such case, this lease shall, at the option of the Landlord, cease and determine and the term shall immediately become forfeited and void and the ten current month's rent and the next ensuring Three (3) month's rent shall immediately become due and payable, and the Lessor may re-enter and take possession of the Demised Premises as though the Tenant or other occupant of the Demised Premises was holding over after the expiration of the term without any right whatsoever.

Appears in 2 contracts

Samples: Lease Agreement (Pinnacle Oil International Inc), Lease Agreement (Pinnacle Oil International Inc)

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BANKRUPTCY OR SEIZURE. In the event that the Demised Premises shall, 19.1 If without the prior written consent of the Landlord, Landlord the demised premises shall remain vacant or not used for a period of Fifteen (15) days, 15 days or the Demised Premises shall not be occupied by the Tenant within Fifteen (15) days of the Commencement Date or shall be used by any person other than the Tenant or for any other purpose than that for which the same were let, or in case the term hereof, or any of the goods and chattels of the Tenant shall be at any time seized in execution or attachment by any creditor of the Tenant Tenant, or the Tenant shall make any an assignment for the benefit of creditors or any bulk sale or become sales of bankrupt or insolvent or take the benefit of any act now or hereafter in force for bankrupt or insolvent debtors debtors, or if any order shall be made for the winding up of the Tenant, then then, in any such case, this lease shall, at the option of the Landlord, cease and determine and the term lease shall immediately become forfeited and void and then the ten current month's minimum monthly rent and additional rent and the next ensuring Three (3) month's ensuing three months minimum monthly rent and additional rent shall immediately become due and payable, payable and the Lessor Landlord may re-enter and take possession of the Demised Premises demised premises as though the Tenant or other occupant or occupants of the Demised Premises demised premises was holding or were holding-over after the expiration of the term without any right whatsoeverwhatever.

Appears in 1 contract

Samples: Lease (Clean Power Concepts Inc.)

BANKRUPTCY OR SEIZURE. In the event that the Demised Premises shall, demised premises shall without the prior written consent of the Landlord, Landlord remain vacant or not used for a the period of Fifteen FIFTEEN (15) days, days or the Demised Premises demises premises shall not be occupied by the Tenant within Fifteen FIFTEEN (15) days of the Commencement Date commencement date or shall be used by any person other than the Tenant or for any other purpose than that for which the same were let, let or in case the term or any of the goods and chattels of the Tenant shall be be, at any time seized in execution or attachment by any creditor of the Tenant or the Tenant shall make any assignment for the benefit of creditors or any bulk sale or become bankrupt or insolvent or take the benefit of any act now Act nor or hereafter in force for bankrupt or insolvent debtors or any order shall be made for the winding up of the TenantTenant then, then in any such case, this lease Lease shall, at the option of the Landlordlandlord, cease and determine and the term shall immediately become forfeited and void and the ten 25 then current month's rent and the next ensuring Three ensuing THREE (3) month's months' rent shall immediately become due and payable, payable and the Lessor Landlord may re-enter and take possession of the Demised Premises demised premises as though the Tenant or other occupant or occupants of the Demised Premises demised premises was or were holding over after the expiration of the term terms without any right whatsoever.

Appears in 1 contract

Samples: Lease Agreement (Dailey Petroleum Services Corp)

BANKRUPTCY OR SEIZURE. In the event that the Demised Leased Premises shall, without the prior written consent of the Landlord, remain vacant or not used for a the period of Fifteen (15) days, or the Demised Premises shall not be occupied by the Tenant within Fifteen fifteen (15) days of the Commencement Date or shall be used by any person other than the Tenant or for any other purpose than that for which the same were let, or in case the term or any of the goods and chattels of the Tenant shall be at any time seized in execution or attachment by any creditor of the Tenant or the Tenant shall make any assignment for the benefit of the creditors or any bulk sale sale, or become bankrupt or insolvent or take the benefit of any act now or hereafter in force for bankrupt or insolvent debtors debtors, or any order shall be made for after the winding up of the Tenant, then then, in any such case, this lease Lease shall, at the option of the Landlord, Landlord cease and determine determine, and the term shall immediately become forfeited forfeited, and void and the ten then current month's rent Rent and the next ensuring Three ensuing three (3) month's rent Rent shall immediately become due and payable, and the Lessor Landlord may re-enter and take possession of the Demised Leased Premises as though the Tenant or other occupant of the Demised Leased Premises was holding over after the expiration of the term without any right whatsoever. This remedy shall be without prejudice to and under reserve of all other rights, remedies and recourse of the Landlord.

Appears in 1 contract

Samples: Indenture (Vannessa Ventures LTD)

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BANKRUPTCY OR SEIZURE. In the event that the Demised Premises shall, 26.01 If without the prior written consent of the Landlord, Landlord the Demised Premises shall remain vacant or not used for a period of Fifteen (15) days, or the Demised Premises shall not be occupied by the Tenant within Fifteen fifteen (15) days of the Commencement Date or shall be used by any person other than the Tenant or for any other purpose than that for which the same were let, or in case the term Term hereof or any of the goods and chattels of the Tenant shall be at any time seized in execution or attachment by any creditor of the Tenant Tenant, or the Tenant shall make any an assignment for the benefit of creditors or any bulk sale or become bankrupt or insolvent or take the benefit of any act now or hereafter in force for bankrupt or insolvent debtors debtors, or if any order shall be made for the winding up of the Tenant, then then, in any such case, this lease Lease shall, at the option of the Landlord, cease and determine and the term Term shall immediately become forfeited and void and the ten current month's rent Rent for that month and for the next ensuring Three (3) month's rent next-ensuing three months shall immediately become due and payable, payable and the Lessor Landlord may re-enter and take possession of the Demised Premises as though the Tenant or other occupant or occupants of the Demised Premises was holding or were holding-over after the expiration of the term Term without any right whatsoeverwhatever.

Appears in 1 contract

Samples: Lease (Forestindustry Com Inc)

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