Common use of Conditional Limitations; Default Provisions Clause in Contracts

Conditional Limitations; Default Provisions. 15.1 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 a creditor of the Tenant or the Tenant shall make any assignment for the benefit of creditors or become bankrupt or insolvent or take the benefit of any Act now or hereafter in force for bankrupts or insolvent debtors, or, if the Tenant is a corporation and any order shall be made for the winding-up of the Tenant, or other termination of the corporate existence of the Tenant or a Receiver or Receiver-Manager is appointed for the Tenant under any Debenture or other security or by Court Order or otherwise, then in any such case the Lease shall at the option of the Landlord immediately cease and terminate and the Term shall immediately become forfeited and void and the then current month's rent and the next ensuing three (3) month's rent shall immediately become due and be paid and the Landlord may, without notice, re-enter and take possession of the Demised Premises as though the Tenant or other occupant or occupants of the Demised Premises was or were holding over after the expiration of the Term of Lease without any right whatsoever.

Conditional Limitations; Default Provisions. 15.1 13.01 In case the Term term of this Lease or any of the goods and chattels of the Tenant shall be at any time seized in execution or attachment by a 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 bankrupts bankrupt or insolvent debtors, or, if the Tenant is a corporation and any order shall be made for the winding-up of the Tenant, or other termination of the corporate existence of the Tenant Tenant, or a Receiver or Receiver-Manager is appointed for the Tenant under any Debenture debenture or other security or by Court Order or otherwise, then in any such case the Lease lease shall at the option of the Landlord Landlord, immediately cease and terminate and the Term term shall immediately become forfeited and void and the then current month's rent and the next ensuing three (3) month's months rent shall immediately become due and be paid and the Landlord may, without notice, re-enter and take possession of the Demised Premises Premise as though the Tenant or other occupant or occupants of the Demised Premises demised premise was or were holding over after the expiration of the Term of Lease term without any right whatsoever.