Common use of CONDITIONS TO THE ASSUMPTION OF LEASE IN BANKRUPTCY PROCEEDINGS Clause in Contracts

CONDITIONS TO THE ASSUMPTION OF LEASE IN BANKRUPTCY PROCEEDINGS. In the event that a voluntary or involuntary bankruptcy petition is filed by or against Tenant, and Tenant, trustee or debtor in possession elects to assume the Lease in accordance with the provisions of Section 10.4.3 above, such assumption shall only be effective if each of the following conditions, which Landlord and Tenant hereby acknowledge to be commercially reasonable in the context of a bankruptcy proceeding of Tenant, have been satisfied: (a) The Tenant, trustee or the debtor in possession has cured or has provided Landlord adequate assurance that the Tenant, trustee or debtor in possession will cure all monetary defaults under the Lease within 10 days from the date of assumption of the Lease. (b) The Tenant, trustee or the debtor in possession has cured or has provided Landlord adequate assurance that the Tenant, trustee or debtor in possession will cure all non-monetary defaults under the Lease within 30 days from the date of assumption of the Lease. (c) The Tenant, trustee or the debtor in possession has compensated or has provided to Landlord adequate assurance that Landlord will be compensated for any pecuniary loss incurred by Landlord arising from the default of the Tenant, trustee or debtor in possession within 10 days from the date of assumption of the Lease. (d) The Tenant, trustee or debtor in possession has provided Landlord with adequate assurance of the future performance of each of the Tenants, trustees or debtor in possessions obligations under this Lease; provided, however, that the Tenant, trustee or debtor in possession shall also deposit with the Landlord as security for the timely payment of rent an amount equal to two (2) months rent accruing under this Lease. (e) The assumption of the Lease will not breach any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound relating to the premises.

CONDITIONS TO THE ASSUMPTION OF LEASE IN BANKRUPTCY PROCEEDINGS. In the event that a voluntary or involuntary bankruptcy petition is filed by or against Tenant, and Tenant, trustee or debtor in possession elects to assume the Lease lease in accordance with the provisions of Section 10.4.3 abovethe preceding paragraph, such assumption shall only be effective if each of the following conditions, which Landlord and Tenant hereby acknowledge to be commercially reasonable in the context of a bankruptcy proceeding of Tenanttenant, have been satisfied: (a) a. The Tenant, trustee or the debtor in possession has cured or has provided Landlord adequate assurance that the Tenant, trustee or debtor in possession will cure all monetary defaults under the Lease within 10 days from the date of assumption of the Lease. (b) b. The Tenant, trustee or the debtor in possession has cured or has provided Landlord adequate assurance that the Tenant, trustee or debtor in possession will cure all non-monetary defaults under the Lease within 30 days from the date of assumption of the Lease. (c) c. The Tenant, trustee or the debtor in possession has compensated or has had provided to Landlord adequate assurance that Landlord will be compensated for any pecuniary loss incurred by Landlord arising from the default of the Tenant, trustee or debtor in possession within 10 days from the date of assumption of the Lease. (d) d. The Tenant, trustee or debtor in possession has provided Landlord with adequate assurance of the future performance of each of the TenantsTenant's, trustees trustee's or debtor in possessions possession's obligations under this Lease; provided, however, that the Tenant, trustee or debtor in possession shall also deposit with the Landlord as security for the timely payment of rent an amount equal to two (2) 2 months rent accruing accuring under this Lease. (e) e. The assumption of the Lease will not breach any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound relating to the premises.