Common use of DEFAULT AND BANKRUPTCY Clause in Contracts

DEFAULT AND BANKRUPTCY. The following shall constitute a default by Lessee under this Lease: (a) The Lessee shall fail to make payment or any installment of rent or other sum herein specified and such failure shall continue for five (5) days after written notice thereof; or (b) The Lessee shall fail to observe or perform any other of the Lessee's covenants, agreements or obligations hereunder and such default shall not be corrected within thirty (30) days after written notice thereof or, if such default shall reasonably require longer than thirty (30) days to cure, shall not within said period commence and diligently proceed to cure such default; or (c) The Lessee shall be declared bankrupt or insolvent according to law if a receiver shall be appointed to manage Lessee's affairs, or if any assignment shall be made of Lessee's property for the benefit of creditors. In the event of a default, the Lessor shall have the right thereafter, while such default continues to declare this lease ended without prejudice to any other remedy it may have; provided, however, in the event of a default pursuant to subsection (b) above which is reasonably disputed by Lessee, and which Lessor deems to remain uncorrected as of the thirtieth (30th) day after written notice was sent, then such matter will be submitted to arbitration according to the rules of the American Arbitration Association with the costs thereof to be borne equally by the parties.

DEFAULT AND BANKRUPTCY. The following shall constitute a default by Lessee under this Lease:; (a) The Lessee shall fail to make payment or any installment of rent or other sum herein specified and such failure shall continue for five seven (57) days after written notice thereof; , or (b) The Lessee shall fail to observe or perform any other of the Lessee's covenants, agreements or obligations hereunder and such default shall not be corrected within thirty (30) days after written notice thereof or, if such default shall reasonably require longer than thirty (30) days to cure, shall not within said period commence and diligently proceed to cure such default; or (c) The Lessee shall be declared bankrupt or insolvent according to law if a receiver shall be appointed to manage Lessee's affairs, or if any assignment shall be made of Lessee's property for the benefit of creditors. , In the event of a default, the Lessor shall have the right thereafter, while such default continues to declare this lease ended without prejudice to any other remedy it may have; provided, however, in . Any notice required to be given by Lessor for any failure of Lessee to pay rent or other sums (prior to said failure being deemed a default) shall be deemed satisfied by the event serving by Lessor on Lessee at the Premises of a default pursuant "notice to subsection (b) above which is reasonably disputed by Lessee, and which Lessor deems to remain uncorrected quit" so long as of the thirtieth (30th) day after written notice was sent, then such matter will be submitted to arbitration according to the rules of the American Arbitration Association same provides Lessee with the costs thereof right to be borne equally by the partiescure within at least five (5) days of service.

DEFAULT AND BANKRUPTCY. The following shall constitute a default by Lessee under this LeaseIn the event that: (a) The Lessee the LESSEE shall fail to make default in the payment or of any installment of rent or other sum herein specified and such failure default shall continue for five ten (510) days after written notice thereof; or (b) the LESSEE shall be in default of its obligations to the LESSOR under the terms of either or both of those certain leases between the parties concerning the premises known and numbered as 22 Sxxxxx Xxxxxx xx 00-00 Xxxxxx Xxxxxx, Cambridge, and such default shall continue beyond any applicable notice or cure periods provided for in such lease; or (c) The Lessee LESSEE shall fail to observe default in the observance or perform performance of any other of the Lessee's LESSEE'S covenants, agreements agreements, or obligations hereunder and such default shall not be corrected within thirty (30) days after written notice thereof or, provided that if such default shall reasonably require longer than is not susceptible of being cured within such period of thirty (30) days days, the LESSEE shall have such additional period of time to cure, shall not within said period commence cure as may be reasonably required to effect such cure so long as the LESSEE seasonably commences the curative action and continually and diligently proceed to cure such defaultpursues the same; or (cd) The Lessee LESSEE shall be declared bankrupt or insolvent according to law if a receiver shall be appointed to manage Lessee's affairslaw, or or, if any assignment shall be made of Lessee's LESSEE'S property for the benefit of creditors. In ; Then the event of a default, the Lessor LESSOR shall have the right thereafter, while such default continues continues, to declare this lease ended without prejudice to any other remedy it may have; provided, however, in the event of a default pursuant to subsection (b) above which is reasonably disputed by Lessee, re-enter and which Lessor deems to remain uncorrected as of the thirtieth (30th) day after written notice was sent, then such matter will be submitted to arbitration according to the rules of the American Arbitration Association with the costs thereof to be borne equally by the parties.take

DEFAULT AND BANKRUPTCY. The following shall constitute a default by Lessee under this LeaseIn the event that: (a) The Lessee LESSEE shall fail to make default beyond any applicable notice and cure period in the payment or of any installment of rent or other sum herein specified and such failure default shall continue for five seven (57) days after written notice thereof; or (b) The Lessee LESSEE shall fail to observe default beyond any applicable notice and cure period in the observance or perform performance of any other of the LesseeLESSEE's covenants, agreements Subleases, or obligations hereunder and such default shall not be corrected within thirty (30) days after written notice thereof or, if such default shall reasonably require longer than thirty (30) days to cure, shall not within said period commence and diligently proceed to cure such default; or (c) The Lessee LESSEE shall be declared bankrupt or insolvent according to law if a receiver shall be appointed to manage Lessee's affairslaw, or or, if any assignment shall be made of LesseeLESSEE's property for the benefit of creditors. In , then the event of a default, the Lessor LESSOR shall have the right thereafter, while such default beyond any applicable notice and cure period continues to declare the term of this lease ended without prejudice to Sublease ended. The LESSEE shall indemnify the LESSOR against all loss of rent and other Payments which the LESSOR may incur by reason of such termination during the residue of the term. If the LESSEE shall default, beyond any other remedy it may have; provided, howeverapplicable notice and cure period, in the event observance or performance of a default pursuant any conditions or covenants on LESSEE's part to subsection (b) above which is reasonably disputed be observed or performed under or by Lessee, and which Lessor deems to remain uncorrected as virtue of any of the thirtieth (30th) day after written notice was sentprovisions in any article of this Sublease, then the LESSOR, without being under any obligation to do so and without thereby waiving such matter will default, may remedy such default for the account and at the expense of the LESSEE. If the LESSOR makes any expenditures or incurs any obligations for the payment of money in connection therewith, including but not limited to, reasonable attorney's fees in instituting, prosecuting, or defending any action or proceeding, such sums paid or obligation incurred with interest at the rate of 12% per annum and costs, shall be submitted to arbitration according paid to the rules of the American Arbitration Association with the costs thereof to be borne equally LESSOR by the partiesLESSEE as additional rent.