Default by Tenant Remedies of Landlord. (a) Each of the following shall be deemed a default by Tenant and a breach of this Lease: (i) filing of a petition by Tenant for adjudication as a bankrupt or an adjudication as a bankrupt or for reorganization or for an arrangement under any federal or state statute, except a Chapter 11 Bankruptcy where rent is being paid and the terms of the Lease are being complied with; (ii) involuntary dissolution or liquidation of Tenant; (iii) appointment of a permanent receiver or a permanent trustee of all or substantially all the property of Tenant, if such appointment shall not be vacated within one hundred and twenty (120) days; (iv) taking possession of the property of Tenant by any governmental officer or agency pursuant to statutory authority for dissolution, rehabilitation, reorganization or liquidation of the Tenant if such taking of possession shall not be vacated within one hundred and twenty (120) days; (v) making by the Tenant of an assignment for the benefit of creditors. If any event mentioned in this subdivision (a) shall occur, Landlord may thereupon or at any time thereafter elect to cancel this Lease by thirty (30) days notice to the tenant in possession and this Lease shall terminate on the day in such notice specified with the same force and effect as if that date were the date herein fixed for the expiration of the term of the Lease.
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Samples: Assignment and Assumption of Lease Agreement (Retail Ventures Inc), Agreement of Lease (Retail Ventures Inc), Agreement of Lease (Value City Department Stores Inc /Oh)
