Common use of Defaults by Tenant Clause in Contracts

Defaults by Tenant. If (a) Tenant shall fail to timely pay any Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.

Appears in 4 contracts

Samples: Lease Agreement (ExOne Co), Lease Agreement (ExOne Co), Lease Agreement (Ex One Company, LLC)

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Defaults by Tenant. If (a) The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: a. The failure by Tenant shall fail to timely pay any Rent the rent or make any other sum provided payment required to be made by Tenant hereunder as and when due where such failure continues for three (3) days after notice thereof by Landlord to Tenant; provided, however, that such notice shall be in lieu of and not in addition to any notice required under Nevada law. b. The abandonment or vacation of the Premises by Tenant. c. The failure by Tenant to observe or perform the provisions of Articles 2 and 8 where such failure continues and is not remedied within forty-eight (48) hours after notice thereof from Landlord to Tenant. d. The failure by Tenant to provide estoppel certificates as herein provided. e. The failure by Tenant to observe or perform any other provision of this Lease as Lease, including Rules and Regulations which may be adopted by Landlord where such failure continues for twenty (20) days after notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same becomes due and payable cannot reasonably be cured within such twenty (provided that (i20) as to the payment of Base Rentday period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted completion. f. Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default same is incapable of being cured in a reasonable manner dismissed within thirty (30) days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes days; or the same attachment, execution, or other judicial seizure of all or any portion of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. g. Tenant shall fail to completion, but in no event exceeding ninety occupy the Premises within one hundred twenty (90120) days after the Commencement Date. h. In addition to the events constituting a default and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have breach of the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default Lease by Tenant in so doingas set forth herein, Landlord shall have if within any twelve (12) month period during the right to recover possession by summary proceedings or otherwise and to apply for term of the appointment of a receiver and for other ancillary relief in such action, provided that Lease Tenant shall have ten failed to perform any obligation required of Tenant hereunder, or has been in breach for any reason under the Lease more than two (102) days written times, and Landlord, because of any such failure and/or breach, shall have served upon Tenant within said twelve (12) month period two (2) or more notices of any such failure or breach, then any subsequent failure or breach shall be deemed a noncurable default, without requirement of notice after such application may have been filed and before any hearing thereon or opportunity to cure, and Landlord shall again have be immediately entitled to exercise any and enjoy all rights, remedies and/or elections specified below otherwise available at law or in equity. i. Tenant's failure to vacate and surrender the Premises, Premises as if required by this Lease had never been madeupon the expiration of the Term or termination of this Lease.

Appears in 3 contracts

Samples: Office Lease (Vestin Group Inc), Office Lease (Vestin Group Inc), Office Lease (Vestin Group Inc)

Defaults by Tenant. If A. The occurrence of any of the following (aeach, an “Event of Default”) Tenant shall fail to timely pay any Rent or any other sum provided for under constitute a material default and breach of this Lease as the same becomes due and payable (provided that Sublease by Tenant: (i) as Any failure by Tenant to the payment of Base Rentpay Rent when due where such failure continues for five (5) days after written notice thereof from Landlord; provided, a default however, Landlord shall not be deemed required to have occurred unless provide more than one such notice during any Lease Year and after the same giving of any such notice, any further failure to pay Rent when due shall remain unpaid constitute an Event of Default without the necessity of any notice thereof. (ii) Any failure by Tenant to maintain the insurance required pursuant to the terms hereof where such failure continues for a period of ten five (105) days after it shall have become due Tenant’s receipt of written notice thereof from Landlord. (iii) A failure by Tenant to observe and payable, and (ii) as to perform any other payments provision of this Sublease to be made observed or performed by Tenant under this Lease Tenant, where such failure continues for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after Tenant’s receipt of written notice or demand to Tenant,thereof from Landlord, except that this thirty (30) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings day period shall be instituted by or against Tenant, or extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said thirty (d30) an day period and Tenant proceeds to diligently cure such failure. (iv) Any general assignment shall be made by Tenant for the benefit of creditors, the filing by, or against, Tenant of a petition to have Tenant adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (eunless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days), the appointment of a trustee or receiver to take possession that is not restored to Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, or the 8 T /s/ SDG attachment, execution or other judicial seizure that is not discharged within thirty (30) days. B. In the event of an Event of Default, Landlord lawfully may in compliance with applicable law, immediately enter into and upon the Demised Premises or any part thereof and repossess the same as of its former estate, and expel Tenant, and those claiming through or under it, and remove its or their effects without being deemed guilty of any manner of trespass, and without prejudice to any remedies which might otherwise be used for arrears of Rent or breach of covenant. No such reentry or taking possession of the Demised Premises by Landlord shall be construed as an election on Landlords part to terminate this Sublease, unless a written notice of such intention to terminate this Sublease is given to Tenant or unless termination hereof is decreed by a court of competent jurisdiction. Notwithstanding any such reentry or taking of possession, Landlord may, at any time thereafter, elect to terminate this Sublease for any previous default. In the event that Landlord terminates this Sublease or repossesses the Default Premises due to an Event of Default as aforesaid, Tenant shall (i) remain liable for all Rent and other obligations accruing up to the date of such repossession or termination, and (ii) be liable to Landlord for all costs incurred in connection with the repossession and reletting of the Demised Premises (including, without limitation, reasonable attorney and brokerage fees and any costs in connection with necessary repairs or remodeling to render the Demised Premises suitable for reletting), and (iii) remain liable for the payment of all of the Base Annual Rent and Additional Rent payable hereunder for the balance of the unexpired Term of this Sublease in effect as of the date of the termination or repossession by Landlord. Any rental which may be due Landlord, as herein provided in this Sublease, shall include the monthly rent and any other costs and expenses denominated as additional rentals in this Sublease. Landlord may bring suits for such amounts or portions thereof, at any time or times as the same accrue or after the same have accrued, and no suit or recovery of any portion due hereunder shall be deemed a waiver of Landlord’s right to collect all amounts to which Landlord is entitled hereunder, nor shall the same serve as any defense to any subsequent suit brought for any amount not theretofore reduced to judgment. In the event the Demised Premises are relet by Landlord, Tenant shall be entitled to a credit against its rental obligations hereunder in the amount of Rents received by Landlord from any such reletting of the Demised Premises less any costs incurred by Landlord (not previously reimbursed by Tenant) in connection with the repossession and retelling of the Demised Premises (including, without limitation, reasonable attorneys’ fees, and, to the extent allocable to the remainder of the applicable Term hereof, brokerage commissions, and any cost of repairs, alterations and improvements to the Demised Premises). Landlord may relet the Demised Premises for a term or terms which may, at Landlord’s option, be equal to or less than or exceed the period which would otherwise have constituted the balance of the term of this Sublease. Landlord may grant such concessions and free rent as Landlord deems necessary in connection with any such reletting. Landlord shall not, in any event, be required to pay Tenant any surplus of any sums received by Landlord on a retelling of the Demised Premises in excess of the Rent provided in this Sublease, but such excess will reduce any accrued present or future obligations of Tenant hereunder. Subject to the notice and cure periods provided herein, Landlord shall have the right to exercise any and all other remedies available to Landlord, in connection with an Event of Default, at law or in equity, including, without limitation, injunctive relief. Except as otherwise set forth herein to the contrary, mention in this Sublease of any particular remedy shall not preclude Landlord from any other remedy, in law or in equity. Except as otherwise set forth herein to the contrary, no remedy herein or otherwise conferred upon or reserved to Landlord shall be considered to exclude or suspend any other remedy but the same shall be cumulative and shall be in addition to every other remedy given hereunder, or now or hereafter existing at law or in equity or by statute, and every power and remedy given by this Sublease to Landlord may be exercised from time to time and as often as any occasion may arise or as may be deemed expedient. Landlord waives any right of distraint, distress for rent or landlord’s lien that may arise at law. If the Tenant’s interest in this Sublease be assigned as permitted hereunder, or if the Demised Premises or any part thereof be sublet as permitted hereunder, Landlord may, after an Event of Default by Tenant, terminate all sublease, concessions or the like or may, at the option of Landlord, collect rent from the assignee or subtenant and apply the net amount collected to the rent due from Tenant. No such collection shall be deemed a waiver of the covenant herein against sale, transfer, mortgage, assignment and subletting or a release of Tenant from the performance of the covenants herein contained. In the event of such Event of Default, Tenant hereby assigns the rent due from the subtenant or assignee to Landlord, and hereby authorizes such subtenant or assignee to pay the rent directly to Landlord. If Tenant fails to make any payment or perform any agreement or obligation on its part to be performed under this Sublease, Landlord, in addition to all other remedies available to Landlord, shall have the right (but not the obligation) (i) if no emergency exists, to pay and/or perform the 9 T /s/ SDG same after giving thirty (30) days’ notice to Tenant (10 days notice in the case of a monetary default) or such longer time as may be reasonably required because of the nature of the non-monetary default provided Tenant has not commenced to cure the same within said such thirty (30) day period and thereafter diligently prosecutes pursues such cure to completion; and (ii) in any emergency situation (i.e., a situation imposing imminent danger to persons or property), to perform the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunderimmediately without notice or delay. Landlord shall have For the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingpurpose of rectifying Tenant’s defaults as aforesaid, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for enter the appointment of a receiver and for other ancillary relief in such actionDemised Premises. Tenant shall, provided that Tenant shall have within ten (10) days after written notice after such application may have been filed demand, reimburse Landlord as Additional Rent for the reasonable costs and before any hearing thereon expenses incurred by Landlord in rectifying Tenant’s defaults as aforesaid, including reasonable attorneys’ fees and interest at the rate set forth herein. Except for the negligence or willful misconduct of Landlord or Landlord’s agents, employees, licensees or invitees, Landlord shall again have and enjoy not be liable or in any way responsible for any loss, inconvenience, annoyance, or damage resulting to Tenant or anyone holding under Tenant for any action taken by Landlord pursuant to this Section. Any act or thing done by Landlord pursuant to this Section shall not constitute a waiver of any such default by Tenant or a waiver of any covenant, term or condition herein contained or the Premises, as if this Lease had never been made.performance thereof

Appears in 3 contracts

Samples: Sublease (iRhythm Technologies, Inc.), Sublease (iRhythm Technologies, Inc.), Sublease (iRhythm Technologies, Inc.)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be a default and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of Rent within ten (10) days after it the same shall have become be due and payable, or any Additional Rent within thirty (30) days after the same shall be due and (ii) as payable. No notice shall be required for default in payment. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation, other payments than the payment of rent, required to be made performed or observed by Tenant it under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or demand obligations to Tenant,) or (b) be performed by Tenant shall fail to maintain any insurance pursuant to is of such nature that the terms of this Leasesame cannot reasonably be performed within such thirty-day period, or (c) bankruptcy or other insolvency proceedings such default shall be instituted by deemed to have been cured if Tenant commences such performance within said thirty-day period, thereafter diligently undertakes to complete the same, informs Landlord, in writing, of Tenant’s progress in completing same on a weekly basis, and completes such cure within no later than 60 days after notice from Landlord. C. A trustee or against Tenant, or (d) an assignment receiver shall be made by Tenant for appointed to take possession of substantially all of Tenant’s assets in, on or about the benefit Premises or of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of Tenant’s interest in this Lease (and such failure shall Tenant does not be cured regain possession within thirty (30) days after written notice thereof from Landlord such appointment); Tenant makes an assignment for the benefit of creditors; substantially all of Tenant’s assets in, on or about the Premises or Tenant’s interest in this Lease are attached or levied upon under execution (or if such default is incapable of being cured in a reasonable manner and Tenant does not discharge the same within thirty (30) daysdays thereafter); or, a petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant pursuant to any federal or state statute (and, with respect to any such petition filed against it, Tenant has not commenced fails to cure the same secure a stay or discharge thereof within said thirty (30) day period and thereafter diligently prosecutes days after the same to completion, but in no event exceeding ninety (90) days and filing of the same). D. Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings abandons or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the vacates Premises, as if this Lease had never been made.

Appears in 3 contracts

Samples: Office Lease Agreement (Apellis Pharmaceuticals, Inc.), Office Lease Agreement (Apellis Pharmaceuticals, Inc.), Office Lease Agreement (Apellis Pharmaceuticals, Inc.)

Defaults by Tenant. If The occurrence of any of the following shall constitute a default under this Lease by Tenant (“Event of Default”): (a) The failure by Tenant shall fail to timely pay any the Rent or make any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease and Exhibits hereto as and when due where such failure continues for which a period for payment five (5) business days after notice thereof by Landlord to Tenant; provided, however, that such notice shall be in lieu of and not be set forth in this Leaseaddition to any notice required under Section 1161 of the California Code of Civil Procedure; (b) The abandonment of the Premises by Tenant. As used herein, a default “abandonment” shall not be deemed to have occurred unless occur in accordance with Section 1951.3 of the same shall remain unpaid California Civil Code; (c) The failure by Tenant to observe or perform the provisions of Articles 2 and 8 where such failure continues and is not remedied within three (3) business days after notice thereof from Landlord to Tenant, provided such notice specifies that Tenant will be in an Event of Default if such failure is not remedied within said three (3) business day period and (ii) the failure to comply by Tenant causes a threat of imminent harm to the Building Property or any Building Systems; (d) The failure by Tenant to observe or perform any other provision of this Lease and the Exhibits hereto, including the Rules and Regulations, to be observed or performed by Tenant, where such failure continues for a period thirty (30) days after notice or demand thereof by Landlord to Tenant,; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) or (b) day period, Tenant shall fail not be deemed to maintain any insurance pursuant be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to the terms of this Lease, or completion. Such thirty (c30) bankruptcy or other insolvency proceedings day notice shall be instituted in lieu of and not in addition to any notice required under Section 1161 of the California Code of Civil Procedure; (e) Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or the same is dismissed within sixty (d60) an assignment shall be made days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within sixty (60) days; or the attachment, execution, or other judicial seizure of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within sixty (e60) days; (f) The failure by Tenant shall breach to provide estoppel certificates within five (5) business days following notice from Landlord to Tenant that Tenant has failed to provide a requested estoppel certificate within the ten (10) day period required under Section 30.15 hereof; or (g) A Transfer to an entity other than an Affiliate or fail Successor of Tenant without Landlord’s prior written consent which, as to perform a Sublease only, is not rescinded or otherwise terminated within ten (10) business days following notice from Landlord to Tenant of such prohibited Transfer; (h) Tenant’s failure, refusal or neglect to cause to be released any other term mechanics’ lien placed against the Premises or condition the Park Place Project which relates to work or covenant of this Lease and such failure shall not be cured services claimed to have been performed for, or materials claimed to have been furnished to, Tenant or the Premises, within thirty twenty (3020) days after written notice thereof from Landlord thereof, or within such shorter period as is required under the terms of any Underlying Mortgage; or (or if such default is incapable i) Any Event of being cured Default otherwise specified in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeLease.

Appears in 3 contracts

Samples: Office Lease (New Century Financial Corp), Office Lease (New Century Financial Corp), Office Lease (New Century Financial Corp)

Defaults by Tenant. If (a) Tenant A. The occurrence of any of the following shall fail to timely pay any Rent or any other sum provided for under constitute a material default and breach of this Lease as the same becomes due and payable (provided that by Tenant: (i) as Any failure by Tenant to the pay Rent or make any other payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty hereunder within seven (307) days after receipt of written notice or demand to Tenant,from the Landlord; and (ii) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made A failure by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to observe and perform any other term or condition or covenant material provision of this Lease and to be observed or performed by the Tenant, where such failure shall not be cured within continues for thirty (30) days after written notice thereof from by Landlord (or if such default is incapable of being cured in a reasonable manner within to Tenant, except that this thirty (30) days, Tenant has day period shall be extended for a reasonable period of time if the alleged default is not commenced to reasonably capable of cure the same within said thirty (30) day period and thereafter Tenant proceeds to diligently prosecutes cure the same to completion, but in no default. B. In the event exceeding ninety (90) days and Tenant shall not thereafter cure of any such default)default by Tenant, then and Landlord shall be entitled to terminate this Lease by giving written notice of termination to Tenant, in any such which event Tenant shall be immediately surrender the Demised Premises to Landlord. If Tenant fails to so surrender the Demised Premises, then Landlord may, without prejudice to any other remedy it has for possession of the Demised Premises or arrearages in default hereunder. Rent or other damages, re-enter and take possession of the Demised Premises and expel or remove Tenant and any other person occupying the Demised Premises or any part thereof, in accordance with applicable law. C. Notwithstanding anything to the contrary contained in this Lease: (i) Landlord shall not have any right to accelerate the duties Rent and obligation to other amounts payable hereunder and (ii) in the event of any default by Tenant under this Lease Landlord shall, in each case, use commercially its reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeits damages.

Appears in 2 contracts

Samples: Industrial Lease (MST Enterprises Inc), Industrial Lease (MST Enterprises Inc)

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: A. Any failure by Tenant shall fail to timely pay any Rent or to make any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as payment required to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid made by Tenant hereunder for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made receipt by Tenant under this Lease for which a period for payment after of written notice shall not be set forth in this Lease, a default shall not be deemed from Landlord of any such failure to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made make timely payment; B. Any failure by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to observe and perform any other term or condition or covenant material provision of this Lease and to be observed or performed by Tenant, where such failure shall not be cured within continues for thirty (30) days after written notice thereof from Landlord (or if such to Tenant; provided, however, that in the case of a default is incapable which cannot with due diligence be cured within a period of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced shall be deemed to cure have complied with such notice and thereafter diligently proceeds to comply with such notice; or C. Tenant is declared insolvent according to any law; or assignment of Tenant’s property is made for the benefit of creditors; or a receiver or trustee is appointed for Tenant or its property; or the interest of Tenant under this Lease is levied on or under execution or other legal process; or any petition is filed by or against Tenant to declare Tenant bankrupt or to delay, reduce or modify Tenant’s debts or obligations; or any petition is filed or other action taken to reorganize or modify Tenant’s capital structure if Tenant be a corporation or other entity (provided that no such levy, execution, legal process or petition filed against Tenant shall constitute a breach of this Lease if Tenant shall vigorously contest the same by appropriate proceedings and shall remove or vacate the same within said thirty (30) day period and thereafter diligently prosecutes days from the same date of its creation, service or filing). D. The abandonment or vacation of the Premises by Tenant, which shall mean that Tenant is absent from the Premises for thirty (30) consecutive days or the failure of Tenant to completion, but in no event exceeding ninety occupy the Premises within thirty (9030) days and after Landlord notifies Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up that the Premises are ready for occupancy combined with Tenant’s failure to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madepay all Rent due.

Appears in 2 contracts

Samples: Lease Agreement (Thar Pharmaceuticals Inc), Lease Agreement (Thar Pharmaceuticals Inc)

Defaults by Tenant. If The occurrence of any of the following shall constitute a default by Tenant under this Lease: (a) If Tenant shall fail fails to timely pay make any Rent payment of fixed annual rent or any other sum provided for under this Lease as the same becomes due and payable (provided that rent (i) as for which a due date is specified in this Lease up to two (2) times in any calendar year within five (5) days after notice is given that such rent is overdue and thereafter during that calendar year within five (5) days after the payment of Base Rentdate due (without notice) or, a default shall not be deemed to have occurred unless the same shall remain unpaid (ii) if no due date is specified in this Lease for a period of such payment, within ten (10) days after it shall have become due and payablenotice is given. (b) If Tenant violates or fails to perform any obligation set forth in Article 8, and Section 10.2, Section 21.1, Section 24.2 or Section 24.5 of this Lease beyond the expiration of any performance, notice or cure period set forth therein. (iic) as If Tenant violates or fails to perform any other payments term, condition, covenant or agreement to be made performed or observed by Tenant under this Lease for which a period for payment after notice shall not be set forth (other than as specified in this LeaseSection), a default and such violation or failure shall not be deemed to have occurred unless the same shall remain unpaid continue for a period thirty ten (3010) days after written notice from Landlord to Tenant of such violation or demand failure, however, if Tenant promptly commences to Tenant,cure such violation or failure and diligently prosecutes such cure, and if such violation or failure is not reasonably curable in ten (10) or (b) days, Tenant shall fail have a reasonable additional period, not to maintain any insurance pursuant exceed an aggregate of twenty (20) days to effect such cure, provided that Tenant must commence its cure within the terms of this Lease, or original ten (c10) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or day period and thereafter diligently prosecute the cure to completion. (d) an If Tenant or any guarantor (i) is voluntarily adjudicated a bankrupt or insolvent, (ii) seeks or consents to the appointment of a receiver or trustee for itself or for all or a part of its property, (iii) files a petition seeking relief under the bankruptcy or similar laws of the United States or any state or any other jurisdiction, (iv) makes a general assignment shall be made by Tenant for the benefit of creditors, or (v) admits in writing its inability to pay its debts as they mature. (e) If a petition is filed against Tenant or any guarantor seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal or state law or other statute, law, or regulation and shall breach remain undismissed or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty unstayed for sixty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (3060) days, or if any trustee, receiver or liquidator of Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completionor any guarantor, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default)or of all or any substantial part of its properties, then and in any such event Tenant shall be appointed without the consent or acquiescence of Tenant or any guarantor and such appointment shall remain unvacated or unstayed for sixty (60) days. (f) If any attachment or execution of any type is issued against Tenant or any guarantor, or Tenant's property located on the Premises, or Tenant's rights or interest in default hereunder. Landlord shall have the duties Lease, or guarantor's or Tenant's assets of any type or nature whatsoever, including but not limited to federal, state, or municipal tax liens, and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings such is not dismissed or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have released within ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madethereafter.

Appears in 1 contract

Samples: Lease Agreement (Edutrek Int Inc)

Defaults by Tenant. If The occurrence of any of the following shall constitute a default under this Lease by Tenant (“Event of Default”): (a) The failure by Tenant shall fail to timely pay any Rent the rent or make any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease and Exhibits hereto as and when due where such failure continues for which a period for payment three (3) business days after notice thereof by Landlord to Tenant; (b) The abandonment of the Premises by Tenant as defined in accordance with Section 1951.3 of the California Civil Code; (c) The failure by Tenant to observe or perform the provisions of Articles 2 and 8 where such failure continues and is not remedied within two (2) business days after notice thereof from Landlord to Tenant; provided however, if the nature of the default under this Paragraph 22.1(c) does not (i) materially and adversely affect Building Systems or Service Facilities, (ii) materially and adversely affect access to or safety of any premises in the Building, (iii) materially and adversely affect the quiet enjoyment of any other tenant in the Project, or (iv) jeopardize the continued effectiveness of any insurance coverage for the Project, then, if such default cannot reasonably be cured within such two (2) business day period, Landlord shall not be set forth entitled to exercise its remedies under Section 22.2 if within such two (2) business day period Tenant shall commence such cure and thereafter diligently prosecute the same to completion, provided that Tenant shall otherwise be liable to Landlord for such non-performance. If Tenant’s default hereunder is with respect to Alterations referred to in this LeaseArticle 8, a default Tenant shall not be deemed to have occurred unless remedied its default within such two (2) business day period if Tenant ceases all work on the Alterations within such two (2) business day period and immediately commences (and thereafter diligently prosecutes to completion) the repair of any damage caused and the correction of any changes to the Building Systems, if so required by Landlord, and provided Tenant does not commence any further work on the Alterations until Landlord has fully approved the same shall remain unpaid in writing; (d) The failure by Tenant to execute any certificate or document to effectuate, evidence or confirm the subordination of this Lease to an Underlying Mortgage in accordance with Section 18.1 within fifteen (15) days after receipt of a written notice from Landlord of such failure; (e) The failure by Tenant to observe or perform any other provision of this Lease (other than those addressed by clauses (a) through (d) above) and the Exhibits hereto, including the Rules and Regulations, to be observed or performed by Tenant, where such failure constitutes a material breach of this Lease and continues for a period thirty (30) days after notice or demand thereof by Landlord to Tenant,; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) or (b) day period, Tenant shall fail not be deemed to maintain any insurance pursuant be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to the terms of this Lease, or completion; (cf) bankruptcy or other insolvency proceedings shall be instituted Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or the same is dismissed within ninety (d90) an assignment shall be made days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, or (e) where possession is not restored to Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default)days; or the attachment, then and in execution, or other judicial seizure of all or any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up portion of Tenant’s assets located at the Premises to Landlord and upon any default or of Tenant’s interest in this Lease, where such seizure is not discharged within ninety (90) days; or (g) The failure by Tenant in so doingto provide any estoppel certificate within the time period required under Section 30.15 below, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply if such failure continues for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have an additional ten (10) days after receipt of written notice after from Landlord to Tenant specifying such application may have been filed failure and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if referring to this Lease had never been madeParagraph 22.1(g).

Appears in 1 contract

Samples: Office Lease (Maguire Properties Inc)

Defaults by Tenant. If (a) Tenant shall fail to timely pay any Rent or any other sum provided for under Without further notice, Landlord may terminate this Lease as the same becomes due and payable (provided that Lease: (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten five (105) days after it shall have become due and payablenotice of default, and (ii) as to if any default by Xxxxxx continues after notice of default, in case of nonpayment of rent or the nonpayment of any other charges or payments to be made hereunder by Tenant under this Lease Xxxxxx, for which a period for payment after more than five (5) days (except no notice shall not need be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid given for a period monetary default occurring after the second such monetary default in any Lease Year); or (ii) thirty (30) days after notice or demand to Tenant,of default, if Tenant does not cure any nonmonetary default within a reasonable time, but in any event no later than thirty (30) or days after notice of default; or (biii) Tenant shall fail to maintain immediately if Xxxxxx makes any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, commits any act of bankruptcy or files or is subject to a petition under any bankruptcy or insolvency law, and if such a petition filed against Tenant is not dismissed within ninety (e90) days; or (iv) immediately if a receiver or similar officer becomes entitled to this leasehold; or (v) immediately if Xxxxxx’s interest in this Lease is taken upon execution or other process of law in any action against Tenant; or (vi) immediately if the Leased Premises are levied upon by any revenue officer or similar officer; or (vii) immediately if Tenant does, or permits to be done, any act which creates a mechanic’s lien or claim therefor against the land or building of which the Leased Premises are a part and Tenant does not comply with the provisions of Section 7.1.M; or (viii) immediately if Tenant shall breach abandon, vacate or fail cease to perform any other continually operate its business within said Leased Premises during the term or condition or covenant of this Lease and such failure shall not be cured for a period of more than three (3) consecutive days or five (5) days in any Lease Year; or (ix) immediately if Tenant fails to open for business within thirty (30) days after written notice thereof from the Lease Commencement Date. Upon termination of this Lease, Landlord (may re-enter the Leased Premises with or if without process of law, using such default is incapable of being cured in a reasonable manner within thirty (30) daysforce as may be necessary, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completionremove all persons, but in no event exceeding ninety (90) days fixtures and Tenant chattels therefrom, and Landlord shall not thereafter cure be liable for any damages resulting therefrom. Upon such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have repossession of the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingLeased Premises, Landlord shall have not be liable for any damages resulting therefrom. Upon such repossession of the Leased Premises, Landlord shall be entitled to recover as liquidated damages and not as a penalty, immediately and upon demand, a lump sum of money equal to (a) the value of the Fixed Minimum Rent and other sums provided herein to be paid by Tenant to Landlord for the remainder of the Lease Term where recoverable under applicable state law (the “Total Rent Amount”) or (b) the Total Rent Amount, less the fair rental value of the Leased Premises for said period. Upon the happening of any one or more of the above-mentioned events, Landlord may repossess the Leased Premises by forcible entry or detainer suit, or otherwise, without demand or notice of any kind to Tenant (except as hereinabove expressly provided for) and without terminating this Lease, in which event Landlord may, but shall be under no obligation so to do, relet all or any part of the Leased Premises for such rent and upon such terms as shall be satisfactory to Landlord (including the right to recover possession relet the Leased Premises for a term greater or lesser than that remaining under the Lease Term, and the right to relet the Leased Premises as a part of a larger area, and the right to change the character or use made of the Leased Premises). For the purpose of such reletting, Landlord may decorate and make any repairs, changes, alterations or additions in or to the Leased Premises that may be necessary or convenient. If Landlord does not relet the Leased Premises, Tenant shall pay to Landlord on demand as liquidated damages and not as a penalty a sum equal to the amount of the Fixed Minimum Rent, and other sums provided herein to be paid by summary proceedings or otherwise and to apply Tenant for the appointment remainder of the Lease Term. If the Leased Premises are relet and a receiver sufficient sum shall not be realized from such reletting, after paying all of the expenses of such decorations, repairs, changes, alterations, additions, the expenses of such reletting and the collection of the rent accruing therefrom, to satisfy the rent herein provided to be paid for other ancillary relief in such actionthe remainder of the Lease Term, provided that Tenant shall have ten (10) days written notice after such application pay to Landlord, on demand, any deficiency and Xxxxxx agrees that Landlord may have been filed file suit from time to time to recover any sums falling due under the terms of this section. Any recovery under this section shall be without relief from valuation and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeappraisement laws.

Appears in 1 contract

Samples: Master Condominium Shopping Center Lease Agreement

Defaults by Tenant. If 20.1 Tenant shall be in material default under this Lease: (a) If Tenant shall fail abandons the premises or if Tenant's vacation of the premises results in the cancellation of any insurance described in Section 10; (b) If Tenant fails to timely pay any Rent rent or any other charge or sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made paid by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or as and when due; (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by If Tenant for the benefit of creditors, or (e) Tenant shall breach or fail falls to perform any Tenant's other term or condition or covenant of obligations under this Lease and such failure shall not be cured within for a period of thirty (30) days after written notice thereof from Landlord Landlord; provided that if more than twenty (or if 20) o days are required to complete such default is incapable of being cured in a reasonable manner within thirty (30) daysperformance, Tenant has shall not commenced to cure be in default if Tenant commences such performance within the same within said thirty (30) day period and thereafter diligently prosecutes pursues its completion. Landlord shall not be required to give such notice if Tenant's failure to perform constitutes a non-curable breach of this Lease. The notice required by this paragraph 20.2(c) is intended to satisfy any and all notice requirements Imposed by law on Landlord and is not in addition to any such requirement. (i) If Tenant makes a general assignment or general arrangement for the same benefit of creditors; (ii) if a petition for adjudication of bankruptcy or for reorganization or rearrangement is filed by or against Tenant and is not dismissed within thirty (30) days; (iii) if a trustee or receiver is appointed to completiontake possession of substantially all of Tenant's assets located at the premises or if Tenant's interest in this Lease and possession is not restored to Tenant within thirty (30) days; or (iv) if substantially all of Tenant's assets located at the premises or If Tenant's interest In this Lease is subjected to attachment, but execution or other judicial seizure which is not discharged within thirty (30) days. If a court of competent jurisdiction determines that any of the acts described in no event exceeding ninety this subparagraph (90d) days is not a default under this Lease, and a trustee is appointed to take possession (or if Tenant remains a debtor in possession) and such trustee or Tenant transfers Tenant's interest hereunder, then Landlord shall receive, as Additional Rent, the difference between the rent (or any other consideration) paid in connection with such assignment or sublease and the rent payable by Tenant hereunder. 20.2 On the occurrence of any material default by Tenant, Landlord may, at any time thereafter, with or without notice', except as provided by law, or demand and without limiting Landlord in the exercise of any right or remedy which Landlord may have: (a) Terminate Tenant's right to possession of the premises by any lawful means, in which case this Lease shall terminate and Tenant shall Immediately surrender possession of the premises to Landlord. In such event, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant's default, including (i) the worth at the time of the award of all unpaid rent, Including without limitation minimum annual rental, Percentage Rental and Additional Rent, and other charges which have been earned or are due at the time of the termination; (ii) the worth at the time of the award of the amount by which the unpaid minimum annual rental, Percentage Rental, Additional Rent and other charges which would have been earned after termination until the time of the award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; (Iii) the worth at the time of the award of the amount by which the unpaid minimum annual rental, Percentage Rental, Additional Rent and other charges which would have been paid for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under the Lease or which In the ordinary course of things would be likely to result therefrom, including, but not thereafter cure limited to, any cost or expenses incurred by Landlord in maintaining or preserving the premises after such default), then the cost of recovering possession of the premises, expenses of reletting, including necessary renovation-or alteration of the premises, Landlord's reasonable attorneys' fees incurred in connection therewith, and any real estate commission paid or payable. As used in any subparts (I) and (ii) above, the "worth at the time of the award" is computed by allowing interest on unpaid amounts at the Interest Rate. As used in subpart (iii) above, the "worth at the time of the award" is computed by discounting such event amount at the discount rate of the Federal Reserve Xxxx situated nearest to the location of the Shopping Center at the time of the award plus one percent (1%) per annum, but not greater than eight percent (80) per annum. If Tenant shall be in default hereunder. Landlord shall have abandoned the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingpremises, Landlord shall have the right to recover option of (1) retaking possession by summary proceedings of the premises and recovering from Tenant the amounts specified in this paragraph 20.2(a), or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10ii) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.proceeding under paragraph 20.2(b);

Appears in 1 contract

Samples: Lease (Sports Arenas Inc)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be a default under and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Monthly Rental Installment of Minimum Annual Rent or the Annual Rental Adjustment or any other sum provided for amounts due Landlord from Tenant as additional rent or otherwise within five (5) days after receipt of notice from Landlord that such payment is due or past due; provided, however, that with respect to Monthly Rental Installments, Landlord shall be required to give such notice to Tenant only two times during any twelve (12) month period before Tenant's failure to make such Monthly Rental Installments on a timely basis shall constitute a default hereunder. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease as the same becomes due and payable (provided that (iother than those referenced in subsection 15.01(A) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid hereof) for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or demand obligation to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made performed by Tenant for is of such nature that the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and same cannot reasonably be performed within such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if day period, such default is incapable of being shall be deemed to have been cured in a reasonable manner within thirty (30) days, if Tenant has not commenced to cure the same commences such performance within said thirty (30) day period and thereafter diligently prosecutes undertakes to complete the same and does so complete the required action within a time deemed to completionbe reasonable by Landlord. C. Tenant shall vacate, but abandon or fail to occupy the Leased Premises or any substantial portion thereof for a period of not less than thirty (30) consecutive days following the Commencement Date. D. A trustee or receiver shall be appointed to take possession of substantially all of Tenant's assets in, on or about the Leased Premises or of Tenant's interest in no event exceeding ninety this Lease (90and Tenant does not regain possession within sixty (60) days after such appointment); Tenant shall make an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the Leased Premises or Tenant's interest in this Lease shall be attached or levied under execution (and Tenant does not discharge the same within sixty (60) days thereafter). E. A petition in bankruptcy, insolvency, or for reorganization or arrangement shall not thereafter cure such default)be filed by or against Tenant pursuant to any federal or state statute (and, then and in with respect to any such event petition filed against it, Tenant shall be in default hereunder. Landlord shall have the duties and obligation fails to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings secure a stay or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten discharge thereof within sixty (1060) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madefiling of the same).

Appears in 1 contract

Samples: Lease Agreement (Symbion Inc/Tn)

Defaults by Tenant. If (The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant; a) Tenant shall fail to timely pay any Rent installment of rent, or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Leasehereunder within ten (10) calendar days of the date such payment, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, and/or b) The abandonment or (vacation of the Premises by Tenant; and/or c) bankruptcy A failure by Tenant to observe and perform any other provision of this Lease to be observed or other insolvency proceedings shall be instituted performed by or against Tenant, or the occurrence of a prohibited event, where such failure or occurrence continues for thirty (30) calendar days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) calendar day period, Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion; and/or d) an assignment shall be made The making by Tenant of any general assignment for the benefit of creditors: the filing by or against Tenant of petition to have Tenant adjudged a bankrupt of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) calendar days); the appointment of a trustee or (e) receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (calendar days; or if the attachment, execution or other judicial seizure of substantia!!y all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such default seizure is incapable of being cured in a reasonable manner not discharged within thirty (30) calendar days; and/or e) If within any period of twelve (12) consecutive months of the term hereof, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10been in default in the payment of rent hereunder three times or more, a default under this subparagraph 2600(e) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madebe deemed a non-curable default.

Appears in 1 contract

Samples: Lease Agreement (Medizone International Inc)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Tenant: The vacating or abandonment of Premises by Tenant. The failure by Tenant shall fail to timely pay make any Rent payment of rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice hereunder, as and when due, where such failure shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid continue for a period thirty of three (303) days after written notice or demand thereof from Landlord to Tenant,) . In the event that Landlord serves Tenant with a Notice to Pay Rent or (b) Tenant shall fail to maintain any insurance Quit pursuant to applicable Unlawful Detainer statutes such Notice to Pay Rent or Quit shall also constitute the terms of notice required by this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made subparagraph. The failure by Tenant for the benefit of creditors, to observe or (e) Tenant shall breach or fail to perform any other term of the covenants, conditions or condition or covenant provisions of this Lease and to be observed or performed by Tenant, other than described the subparagraph above, where such failure shall not be cured within continue for a period of thirty (30) days after written notice thereof from Landlord (or to Tenant; provided, however, that if such the nature of Tenant's default is incapable such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commenced such cure within said 30-day period and thereafter diligently prosecutes such cure to completion. The making by Tenant of being cured (i) any general arrangement or assignment for the benefit of creditors; (ii) Tenant becomes a "debtor" as defined in 11 U.S.C. 101 or any successor statute thereto (unless, in the case of a reasonable manner petition filed against Tenant, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (iv) the attachment, Tenant has execution or other judicial seizure of substantially all of Tenant's assets located at Premises or of Tenant's interest in this Lease, where such seizure is not commenced to cure the same discharged within said thirty (30) day period and thereafter diligently prosecutes days. Provided, however, in the same event that any provision of this paragraph is contrary to completionany applicable law, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant provision shall be in default hereunderof no force or effect. The discovery by Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises of any material false financial statement given to Landlord and upon by Tenant, any default by Tenant assignee of Tenant, any successor in so doinginterest of Tenant, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment any guarantor of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeTenant's obligation hereunder.

Appears in 1 contract

Samples: Lease Agreement

Defaults by Tenant. If (aIt shall be an event of default under this Lease if any one or more of the following events occurs: i) Tenant shall fail fails to timely pay in full, when due, any and all installments of Fixed Basic Rent or Additional Rent or any other sum provided for charges or payments due and payable under this Lease whether or not herein included as rent and the same becomes due and payable continuance of such failure for five (provided that (i5) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days Business Days after it shall have become due and payable, and (written notice from Landlord, ii) as Tenant violates or fails to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth perform or otherwise breaches any agreement, term, covenant or condition contained in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and where such failure shall not be cured within thirty (30) continues for 30 days after written notice thereof from Landlord (or to Tenant, provided, however, that if such the nature of the default is incapable of being such that the same cannot reasonably be cured in a reasonable manner within thirty (30) dayssuch 30 day period, Tenant has shall not commenced be deemed to be in default if Tenant shall within such period commence such cure the same within said thirty (30) day period and thereafter diligently prosecutes prosecute the same to completion. iii) Tenant abandons or vacates the Premises without notice and discontinues payment of Fixed Basic Rent, but in no event exceeding ninety (90Additional Rent and other charges that have become due as well as all which will become due thereafter through the end of the Term. iv) days and Tenant shall not thereafter cure such default), then and becomes insolvent or bankrupt in any such event Tenant shall be sense or makes an assignment for the benefit of creditors or if a petition in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon bankruptcy or for reorganization or for an arrangement with creditors under any default federal or state law is filed by Tenant or against Tenant, or a xxxx in so doing, Landlord shall have the right to recover possession by summary proceedings equity or otherwise and to apply other proceeding for the appointment of a receiver and or similar official for other ancillary relief in such actionany of Tenant’s assets is commenced, provided that or if any of the real or personal property of Tenant shall have ten be levied upon by any sheriff, marshal or constable; provided, however, that any proceeding brought by anyone other than Tenant under any bankruptcy, reorganization arrangement, insolvency, readjustment, receivership or similar law shall not constitute an-event of default until such proceeding, decree, judgment or order has continued unstayed for more than sixty (1060) days written notice after such application may have been filed and before consecutive days. v) Any of the events enumerated in subsections (a)(i) through (a) (iv) of this Section happen to any hearing thereon and Landlord shall again have and enjoy the Premises, as if guarantor of this Lease had never been madeLease.

Appears in 1 contract

Samples: Office Space Lease (Icon PLC /Adr/)

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant. The failure by Tenant shall fail to timely pay any Rent the rent or make any other sum payment required to be made by Tenant hereunder as and when due where such failure continues for five (5) business days after notice thereof by Landlord to Tenant, provided however, that such notice shall be in lieu of and not in addition to any notice required under Nevada law. a. The abandonment or vacation of the Premises by Tenant. b. The failure by Tenant to observe or perform the provisions of Articles 2 and 6 where such failure continues and is not remedied within forty-eight (48) hours after notice thereof from Landlord to Tenant. c. The failure by Tenant to provide estoppel certificates as herein provided. d. The failure by Tenant to observe or perform any other provision of this Lease, including Rules and Regulations which may be adopted by Landlord where such failure continues for under this Lease as twenty (20) days after notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same becomes due and payable cannot reasonably be cured within such twenty (provided that (i20) as to the payment of Base Rentday period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted completion. e. Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default same is incapable of being cured in a reasonable manner dismissed within thirty (30) days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes days; or the same attachment, execution, or other judicial seizure of all or any portion of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. f. Tenant shall fail to completion, but in no event exceeding ninety occupy the Premises within sixty (9060) days after the Commencement Date. g. In addition to the events constituting a default and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have breach of the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default Lease by Tenant in so doingas set forth herein, Landlord shall have if within any twelve (12) month period during the right to recover possession by summary proceedings or otherwise and to apply for term of the appointment of a receiver and for other ancillary relief in such action, provided that Lease Tenant shall have ten failed to perform any obligation required of Tenant hereunder, or has been in breach for any reason under the Lease more than two (102) days written times, and Landlord, because of any such failure and/or breach, shall have served upon Tenant within said twelve (12) month period two (2) or more notices of any such failure or breach, then any subsequent failure or breach shall be deemed a non-curable default, without requirement of notice after such application may have been filed and before any hearing thereon or opportunity to cure, and Landlord shall again have be immediately entitled to exercise any and enjoy all rights, remedies and/or elections specified below otherwise available at law or inequity. h. Tenant's failure to vacate and surrender the Premises, Premises as if required by this Lease had never been madeupon the expiration of the Term or termination of this Lease.

Appears in 1 contract

Samples: Lease Agreement (CLS Holdings USA, Inc.)

Defaults by Tenant. If Each of the following events shall be an “Event of Default” hereunder: (aA) Failure of Tenant shall fail to timely pay any Rent installment of rent or any part thereof (including but not limited to failure to make any deposit required under the terms of this Lease) or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as payments of money, costs, or expenses herein agreed to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of paid by Tenant within ten (10) days after it following written notice to Tenant of such failure provided, however, if Tenant has failed to pay more than two installments of Rental during any twelve (12) month period when due, Tenant shall have become due and payable, and be in default for any subsequent failure to pay any installment of Rent or any part thereof within ten (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (3010) days after of when due without any notice or demand to Tenant,. (B) Failure to observe or (b) Tenant shall fail to maintain any insurance pursuant to perform one or more of the terms of this Leaseother terms, conditions, covenants, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant agreements of this Lease and the continuance of such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable for a period of being cured in a reasonable manner within thirty (30) days, Tenant has or other such period provided in this Lease, after written notice by Landlord specifying such failure (unless such failure requires work to be performed, acts to be done, or conditions to be removed which cannot commenced to cure by their nature reasonably be performed, done, or removed, as the same case may be, within said such thirty (30) day period or other such period required in this Lease, in which case no default shall be deemed to exist so long as Tenant shall have commenced doing the same within such thirty (30) day or other such period required in this Lease and thereafter shall diligently prosecutes and continuously prosecute the same to completion); (C) The filing of an application by Tenant for, but or a consent to the appointment of, a receiver, trustee, or liquidator of itself or of all its assets; (D) The filing by Tenant of a voluntary petition in no event exceeding ninety bankruptcy, or the filing of a pleading in any court of record admitting in writing its inability to pay its debts as they become due; (90E) days The making by Tenant of a general assignment for the benefit of creditors; (F) The filing by Tenant of an answer admitting material allegations of or consenting to or defaulting in answering in petition filed against it in any bankruptcy proceedings; (G) The entry of an order, judgment, or decree by any Court of competent jurisdiction adjudging Tenant a bankrupt or appointing a receiver, trustee, or liquidator of it, or all of its assets, and such order, judgment, or decree continuing unstayed and in effect for any period of sixty (60) consecutive days; (H) If this Lease or the estate of Tenant hereunder shall be transferred to or assigned to or subleased to or shall pass to or devolve upon any person or party, except in a manner herein expressly permitted; or (I) If a levy under execution or attachment shall be made against Tenant or its property and such execution or attachment shall not thereafter cure such default)be vacated or removed by court order, then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingbonding, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment within a period of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten thirty (1030) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madedays.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Fund Xiii L P)

Defaults by Tenant. If Each of the following shall constitute a material breach of this Lease and an event of default by Tenant ("Event of Default") hereunder: (a) Tenant shall fail Tenant's failure to timely pay any installment of Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of within ten (10) days after it shall have become due and payableof receipt of Notice of non-payment; or (b) Tenant violates, and (ii) as breaches or fails to comply with any other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in term, condition or provision of this Lease, a default shall not be deemed and Tenant fails to have occurred unless the same shall remain unpaid for a period cure such violation, breach or non-compliance within thirty (30) days after Notice from Landlord specifying such violation, breach or non­compliance; provided, however, if such violation, breach or non-compliance (excluding the non-payment of any sum due Landlord hereunder) cannot reasonably be cured within such thirty (30) day period and Tenant commences such cure promptly upon receipt of such notice or demand and thereafter diligently and continuously takes such action as may be necessary to Tenant,) or (b) effect such cure, then Tenant shall fail have such longer period of time as may be reasonably necessary to maintain any insurance pursuant to cure such violation, breach or non-compliance, it being understood that the terms cure provisions of this Lease, or Subsection 20.l(b) shall not apply to any of the other Events of Default provided for in this Section 20.1; or (c) If Tenant (a "Debtor") shall file a voluntary petition in bankruptcy or other insolvency proceedings shall be instituted by adjudicated a bankrupt or against Tenantinsolvent or shall file any petition or answer seeking any reorganization, arrangement, recapitalization, readjustment, liquidation, dissolution or similar relief under any present or future federal bankruptcy code or any other present or future applicable Law ("Bankruptcy Law"), or (d) shall seek or consent to or acquiesce in the appointment of any trustee, custodian, receiver or liquidator of such Debtor or of all or any substantial part of its properties or of Tenant's interests in the Premises or any portion thereof, or shall make an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail admit in writing its inability to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure pay its debts generally as the same become due; or (d) If, within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant after the commencement of any proceedings against any Debtor seeking any reorganization, arrangement, recapitalization, readjustment, liquidation, dissolution or similar relief under any Bankruptcy Law, such proceedings shall not thereafter cure have been finally vacated and dismissed; or if, within ninety (90) days after the appointment, without the consent or acquiescence of any Debtor, of any trustee, custodian, receiver or liquidator of such default), then and Debtor or of all or any substantial part of its property or of Tenant's interests in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord or any portion thereof, such appointment shall not have been finally vacated and upon any default by Tenant in so doingdismissed; or if, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten within ninety (1090) days written notice after the levying or fixing of any order or writ of execution, warrant, attachment or garnishment against Tenant's interests in the Premises or any portion thereof, or against any Debtor, such application may order or writ shall not have been filed finally vacated and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madedismissed.

Appears in 1 contract

Samples: Commercial Lease (Neogenomics Inc)

Defaults by Tenant. If (a) Tenant shall fail to timely pay any Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that Tenant: (i) as fails to the payment of Base Rentpay, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of within ten (10) days after it shall have become the due and payabledate, and any Rent, or any other sum of money which Tenant is obligated to pay, as provided in this Lease; or (ii) as to breaches any other payments to be made by Tenant under this Lease for which a period for payment after notice agreement, covenant or obligation herein set forth and such breach shall continue and not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured remedied within thirty (30) days after Landlord shall have given Tenant written notice thereof from Landlord (specifying the breach, or if such default is incapable breach cannot, with due diligence, be cured within said period of being cured in a reasonable manner within thirty (30) days, days and Tenant has does not commenced to cure the same within said thirty (30) day period commence and thereafter diligently prosecutes with reasonable diligence completely cure the same to completion, but in no event exceeding ninety breach within thirty (9030) days after notice; or (iii) files (or has filed against it and Tenant not stayed or vacated within sixty (60) days after filing) any petition or action for relief under any creditor's law (including bankruptcy, reorganization, or similar action), either in state or federal court; or (iv) makes any transfer in fraud of creditors as defined in Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Bankruptcy Code (11 U.S.C. 548, as amended or replaced), has a receiver appointed for its assets (and appointment shall not thereafter cure such defaulthave been stayed or vacated within thirty (30) days), or makes an assignment for benefit of creditors; then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation , and, in addition to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingother lawful right or remedy which it may have, Landlord shall have may do the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten following: (10i) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy terminate this Lease; (ii) repossess the Premises, and with or without terminating, relet the same at such amount as Landlord deems reasonable; and if the amount for which the Premises is relet is less than Tenant's Rent and all other obligations of Tenant to Landlord hereunder, Tenant shall immediately pay the difference or demand to Landlord, but if in excess of Tenant's Rent, and all other obligations of Tenant hereunder, the entire amount obtained from such reletting shall belong to Landlord, free of any claim of Tenant thereto; or (iii) upon obtaining any court authorization, lock the Premises and deny Tenant access thereto. All reasonable expenses of Landlord in repairing, restoring, or altering the Premises for reletting as general office or laboratory space, together with leasing fees and all other expenses in seeking and obtaining a new tenant, shall be charged to and be a liability of Tenant. Landlord's reasonable attorneys' fees in pursuing any of the foregoing remedies, or in collecting any Rent due by Tenant hereunder, shall be paid by Tenant. Tenant further agrees that Landlord may obtain an order for summary ejectment from any court of competent jurisdiction without prejudice to Landlord's rights to otherwise collect rents from Tenant. All rights and remedies of Landlord are cumulative, and the exercise of any one shall not be an election excluding Landlord at any other time from exercise of a different or inconsistent remedy. No exercise by Landlord of any right or remedy granted herein shall constitute or effect a termination of this Lease had never been madeunless Landlord shall so elect by written notice delivered to Tenant. No waiver by Landlord of any covenant or condition shall be deemed to imply or constitute a further waiver of the same at a later time, and acceptance of Rent by Landlord, even with knowledge of a default by Tenant, shall not constitute a waiver of such default.

Appears in 1 contract

Samples: Net Lease (Closure Medical Corp)

Defaults by Tenant. If (a) Tenant shall fail to timely pay be in default under this Ground Lease upon occurrence of any of the following: A. Tenant shall at any time be in default in the payment of Rent or any other monetary sum provided called for under by this Ground Lease as for more than 10 days following written notice from Landlord to Tenant; or B. Tenant shall at any time be in default in the same becomes due keeping and payable (provided that (i) as to the payment performing of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period any of ten (10) days after it shall have become due and payableits other covenants or agreements herein contained, and (ii) as to should such other payments to be made by Tenant under this Lease default continue for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) 30 days after written notice thereof from Landlord (to Tenant specifying the particulars of such default, or if such other default is incapable of being cured in a reasonable manner within thirty (30) days, nature that curing such default will take more than 30 days Tenant has not commenced failed to commence such cure the same within said thirty (such 30) -day period and to thereafter diligently prosecutes and continuously pursue completion of such cure; or C. Tenant fails to have timely Commenced Construction or achieved substantial completion of the same Improvements as required by Section 2.2; or D. Tenant abandons or substantially suspends the Improvements prior to completion, but in no event exceeding ninety (90) completion thereof and such default is not cured within 30 days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before from Landlord to Tenant; or E. Tenant assigns, sells, transfers, conveys, encumbers, hypothecates or leases the whole or any hearing thereon and Landlord shall again have and enjoy part of the Facility, the Premises, or any other improvement constructed thereon in violation of the Ground Lease; or F. Except as if otherwise expressly permitted in this Ground there is any change in control of Tenant, or any other act or transaction involving or resulting in a change in the identity of the parties in control of Tenant or the degree of such control; or G. Tenant fails to pay promptly when due each and every installment of principal and interest on any private loan encumbering Tenant’s interest in this Ground Lease had never been made.or any improvements on the Premises for which Tenant is responsible, and such failure continues beyond (i) the expiration of any applicable grace or cure period, and (ii) the date by which Tenant must make payment to cure any notice of default received from the holder of such private loan; or H. Any Ground Leasehold Mortgagee or any other holder of any private loan encumbering Tenant’s interest in this Ground Lease, or any improvements on the Premises initiates a foreclosure of the deed of trust by which such loan is secured, and Tenant fails to cause such foreclosure proceedings to be dismissed prior to the earlier to occur of (i) the trustee under the deed of trust giving notice of the trustee’s sale, or (ii) within 30 days of Tenant’s receipt of written notice from Landlord..

Appears in 1 contract

Samples: Lease Agreement

Defaults by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant (each, an “Event of Default”): (a) If Tenant shall fail fails to timely pay any the Rent or make any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease and the Exhibits hereto as and when due and such failure continues for which a period for payment 5 business days after notice shall not be set forth thereof by Landlord to Tenant; (b) If Tenant (1) abandons the Premises or (2) enters into any assignment or sublease transaction in violation of the terms of this Lease; (c) If Tenant fails to observe or perform the provisions of Articles 3 (“Use of Premises”) and/or 10 (“Alterations”) and such failure continues for 24 hours after notice thereof from Landlord to Tenant; (d) If Tenant fails to provide estoppel certificates, a default or other certificates as herein provided, and such failure continues for 3 business days after notice to Tenant following expiration of the 10-day period provided herein for the delivery of such certificates; (e) If Tenant fails to observe or perform any other provision of this Lease including the Exhibits hereto, to be observed or performed by Tenant, and such failure continues for 30 days after notice thereof by Landlord to Tenant; provided, however, that if the nature of such failure is such that it cannot reasonably be cured within such 30-day period, Tenant shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period thirty to completion; (30f) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain If any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted action is taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or (d) an the same is dismissed within 90 days); if Tenant makes any general assignment shall be made by Tenant for the benefit of creditors; if a trustee or receiver is appointed to take possession of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within 30 days; or if all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease is attached, executed upon, or otherwise judicially seized and such seizure is not discharged within 30 days; (eg) If Tenant shall breach fails to vacate and surrender the Premises as required by this Lease upon the expiration of the Term or fail sooner termination of this Lease; (h) If Tenant submits to perform Landlord any other term materially false information on any document required to be given by Tenant to Landlord; and/or (i) If any surety or condition or covenant guarantor of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (fails to comply with all the provisions of the suretyship or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeguaranty agreement.

Appears in 1 contract

Samples: Loan Agreement (Thomas Properties Group Inc)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Tenant: 14.1.1. The vacating or abandonment of Premises by Tenant. 14.1.2. The failure by Tenant shall fail to timely pay make any Rent payment of rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice hereunder, as and when due, where such failure shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid continue for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made three 14.1.3. The failure by Tenant for the benefit of creditors, to observe or (e) Tenant shall breach or fail to perform any other term of the covenants, conditions or condition or covenant provisions of this Lease and to be observed or performed by Tenant, other than described the subparagraph above, where such failure shall not be cured within continue for a period of thirty (30) days after written notice thereof from Landlord (or to Tenant; provided, however, that if such the nature of Tenant's default is incapable such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commenced such cure within said 30-day period and thereafter diligently prosecutes such cure to completion. 14.1.4. The making by Tenant of being cured (i) any general arrangement or assignment for the benefit of creditors; (ii) Tenant becomes a "debtor" as defined in 11 U.S.C. 101 or any successor statute thereto (unless, in the case of a reasonable manner petition filed against Tenant, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (iv) the attachment, Tenant has execution or other judicial seizure of substantially all of Tenant's assets located at Premises or of Tenant's interest in this Lease, where such seizure is not commenced to cure the same discharged within said thirty (30) day period and thereafter diligently prosecutes days. Provided, however, in the same event that any provision of this paragraph is contrary to completionany applicable law, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant provision shall be in default hereunderof no force or effect. 14.1.5. The discovery by Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises of any material false financial statement given to Landlord and upon by Tenant, any default by Tenant assignee of Tenant, any successor in so doinginterest of Tenant, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment any guarantor of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeTenant's obligation hereunder.

Appears in 1 contract

Samples: Lease Agreement

Defaults by Tenant. If The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Tenant: (a) The vacating or abandonment of the Premises by Xxxxxx. (b) The failure by Tenant shall fail to timely pay make any Rent payment of rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice hereunder, as and when due, where such failure shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid continue for a period thirty of three (303) days after written notice or demand thereof from Landlord to Tenant,. In the event that Landlord serves Tenant with a Notice to Pay Rent or Quit pursuant to applicable Unlawful Detainer statutes such Notice to Pay Rent or Quit shall also constitute the notice required by this subparagraph. (c) The failure by Tenant to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by Xxxxxx, other than described in paragraph (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Leaseabove, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and where such failure shall not be cured within continue for a period of thirty (30) days after written notice thereof from Landlord (or to Tenant; provided, however, that if such the nature of Tenant's default is incapable such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commenced such cure within said 30- day period and thereafter diligently prosecutes such cure to completion. (d) The making by Tenant of being cured (i) any general arrangement or assignment for the benefit of creditors; (ii) Tenant becomes a "debtor" as defined in 11 U.S.C. § 101 or any successor statute thereto (unless, in the case of a reasonable manner petition filed against Tenant, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (iv) the attachment, Tenant has execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not commenced to cure the same discharged within said thirty (30) day period and thereafter diligently prosecutes days. Provided, however, in the same event that any provision of this paragraph is contrary to completionany applicable law, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant provision shall be in default hereunder. of no force or effect. (e) The discovery by Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises that any financial statement given to Landlord by Xxxxxx, any assignee of Tenant, any subtenant of Tenant, any successor in interest of Tenant or any guarantor of Tenant's obligation hereunder, and upon any default by Tenant in so doingof them, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madewas materially false.

Appears in 1 contract

Samples: Lease Agreement

Defaults by Tenant. If (a) Tenant shall fail If the Rents above referred to timely pay any Rent or any other sum provided for under this Lease part thereof shall be unpaid on the date of payment as required by the same becomes due terms hereof, and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid remains so for a period of ten (10) days after Tenant shall have received from Landlord notice in writing of such default, then and in such case it shall have become due and payablemay be lawful for Landlord, at Landlord's option, by summary proceedings or by any other appropriate legal action or proceedings to terminate the Term of this Lease and to enter into the Premises or any part thereof and expel Tenant or any person or persons occupying the Premises, and (ii) so to repossess and enjoy the Premises as to other payments to in Landlord's former estate. Landlord agrees that in no event shall the nonpayment of Rents be made by Tenant under the basis of a forfeiture of this Lease for which a period for payment after or otherwise result in the eviction of Tenant or the termination of the term of this Lease unless said written notice shall not be set forth in this Lease, a have been served on Tenant as hereinbefore provided and Tenant shall have failed to cure such default shall not be deemed to have occurred unless within said ten (10) day period after the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or receipt of said notice. (b) It is mutually agreed that if Tenant shall be in default in performing any of the terms or provisions of this Lease other than the provision requiring the payment of Rents and Landlord shall give to Tenant notice in writing of such default, and if Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and cure such failure shall not be cured default within thirty (30) days after written notice thereof from Landlord (receipt of such notice, or if such the default is incapable of being cured in a reasonable manner within such character as to require more than thirty (30) days, Tenant has not commenced days to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure fail to use reasonable diligence in curing such default)default after receipt of such notice, then and in any such event Landlord may cure such default for the account of and at the cost and expense of Tenant, and the full amount so expended by Landlord shall immediately be owing by Tenant to Landlord. However, in the event that Tenant shall be delayed or hindered in default hereunderor prevented from the performance of any act required hereunder by reason of strikes, lockouts, labor troubles, inability to procure materials, failure of power, restrictive governmental laws or regulations, riots, insurrection, war or other reason of a like nature not the fault of Tenant, then performance of such act shall be excused for the period of the delay and the period for the commencement of performance of any such act shall be extended for a period equivalent to the period of such delay. Landlord agrees that in no event shall have such default be the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings basis of a forfeiture of this Lease or otherwise and to apply for result in the appointment eviction of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy or the Premises, as if termination of the Term of this Lease had never been madeLease.

Appears in 1 contract

Samples: Lease Agreement (Desert Capital Reit Inc)

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: a. The failure by Tenant shall fail to timely pay any Rent the rent or make any other sum provided for under this Lease as payment required to be made by Tenant hereunder within five (5) calendar days following the date the same becomes due became due. b. The abandonment or vacation of the Premises by Tenant. c. The failure by Tenant to observe or perform the provisions of Articles 2 and payable 8 where such failure continues and is not remedied within five (provided 5) days after receipt of written notice thereof from Landlord to Tenant. d. The failure by Tenant to provide estoppel certificates as herein provided. e. The failure by Tenant to observe or perform any other provision of this Lease, including Rules and Regulations that may be adopted from time to time pursuant to Article 28 and such failure continues for twenty (i20) as days after receipt of written notice thereof by Landlord to Tenant; provided, however, that if the payment nature of Base Rentsuch default is such that the same cannot reasonably be cured within such twenty (20) day period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted completion. f. Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default same is incapable of being cured in a reasonable manner dismissed within thirty (30) days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant has not commenced to cure the same within said thirty (30) day days; or the attachment, execution, or other judicial seizure of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days. g. Tenant shall, except as otherwise provided herein, fail to take delivery of Premises as of the Rent Commencement Date. h. In addition to the events constituting a default and breach of the Lease by Tenant as set forth herein, if within any twelve (12) consecutive month period during the term of the Lease Tenant shall have failed to perform any obligation required of Tenant hereunder, or has been in breach for any reason under the Lease more than one (1) time, and thereafter diligently prosecutes Landlord, because of any such failure and/or breach, shall have served upon Tenant within said twelve (12) consecutive month period two (2) or more written notices of any such failure or breach, then any subsequent failure or breach shall be deemed a noncurable default, without requirement of notice or opportunity to cure, and Landlord shall be immediately entitled to exercise any and all rights, remedies or elections specified below otherwise available at law or in equity. i. Tenant’s failure to vacate and surrender the same Premises as required by this Lease upon the expiration of the Term or termination of this Lease. j. The filing of a petition by or against Tenant (i) in any bankruptcy or other insolvency proceeding; (ii) seeking relief under any state or federal debtor relief law; (iii) for the appointment of a liquidator or receiver for substantially all or all of Tenant’s property or for Tenant’s interest in this Lease; or (iv) for the reorganization or modification of Tenant’s capital structure; provided, however, that if such a petition is filed against Tenant, then such filing shall not constitute a default unless Tenant fails to completion, but in no event exceeding have the proceedings initiated by such petition dismissed within ninety (90) days and after the filing thereof. Any notice given by Landlord to Tenant shall not thereafter cure such default), then and in any such event Tenant under this Section 22.1 shall be in default hereunder. Landlord shall have the duties lieu of, and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon not in addition to, any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been maderequired under Nevada law.

Appears in 1 contract

Samples: Office Lease (Reel Estate Services Inc.)

Defaults by Tenant. If The occurrence of any one or more of the following events shall constitute a material default and breach (an “Event of Default”) of this Lease by Tenant: (a) The vacating or abandonment of the Premises by Xxxxxx. (b) An act or failure to act which is identified in this Lease as material breach of this Lease, including a failure of Tenant shall fail to timely pay execute any documents referenced in Article 21 within the time periods set forth therein if the failure continues for a period of fifteen (15) days after Xxxxxx’s receipt from Landlord of a written notice of such failure delivered following the expiration of the applicable time periods set forth in Article 21. (c) The failure by Tenant to make any payment of Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice hereunder, as and when due, where such failure shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid continue for a period thirty of three (303) days after written notice or demand thereof from Landlord to Tenant,) . In the event that Landlord serves Tenant with a Notice to Pay Rent or (b) Tenant shall fail to maintain any insurance Quit pursuant to applicable Unlawful Detainer statutes such Notice to Pay Rent or Quit shall also constitute the terms of notice required by this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or Section 18.1(c). (d) an assignment shall be made The failure by Tenant for the benefit of creditors, to observe or (e) Tenant shall breach or fail to perform any other term of the covenants, conditions or condition or covenant provisions of this Lease to be observed or performed by Tenant, other than described in Sections 18.1(b) and 18.1(c) above, where such failure shall not be cured within continue for a period of thirty (30) days after written notice thereof from Landlord (or to Tenant; provided, however, that if such the nature of Tenant’s default is incapable such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commenced such cure within said 30-day period and thereafter diligently prosecutes such cure to completion. (e) The making by Tenant of being cured (i) any general arrangement or assignment for the benefit of creditors; (ii) Tenant becomes a “debtor” as defined in 11 U.S.C. § 101 or any successor statute thereto (unless, in the case of a reasonable manner petition filed against Tenant, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days, provided, however, in the event that any provision of this Section 18.1(e) is contrary to any Applicable Law, such provision shall be of no force or effect. (f) The discovery by Landlord that any written report or any financial statement given to Landlord by Xxxxxx, any assignee of Tenant, any subtenant of Tenant, any successor in interest of Tenant has not commenced to cure the same within said thirty (30) day period or any guarantor of Tenant’s obligation hereunder, and thereafter diligently prosecutes the same to completionany of them, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant was materially or intentionally false or misleading. Any notice required under this Section 18.1 shall be in default hereunder. Landlord shall have the duties lieu of, and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon not in addition to, any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings notice required under California Code of Civil Procedure Section 1161 or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madesuccessor law.

Appears in 1 contract

Samples: Lease Agreement

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: a. The failure by Tenant shall fail to timely pay any Rent the rent or make any other sum provided payment required to be made by Tenant hereunder as and when due where such failure continues for three (3) days after notice thereof by Landlord to Tenant; provided, however, that such notice shall be in lieu of and not in addition to any notice required under Nevada law. b. The abandonment or vacation of the Premises by Tenant. c. The failure by Tenant to observe or perform the provisions of Articles 2 and 8 where such failure continues and is not remedied within forty-eight (48) hours after notice thereof from Landlord to Tenant. d. The failure by Tenant to provide estoppel certificates as herein provided. e. The failure by Tenant to observe or perform any other provision of this Lease as Lease, including Rules and Regulations which may be adopted by Landlord where such failure continues for twenty (20) days after notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same becomes due and payable cannot reasonably be cured within such twenty (provided that (i20) as to the payment of Base Rentday period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted completion. f. Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default same is incapable of being cured in a reasonable manner dismissed within thirty (30) days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes days; or the same attachment, execution, or other judicial seizure of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days. g. Tenant shall fail to completion, but in no event exceeding ninety occupy the Premises within one hundred twenty (90120) days after the Commencement Date. h. In addition to the events constituting a default and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have breach of the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default Lease by Tenant in so doingas set forth herein, Landlord shall have if within any twelve (12) month period during the right to recover possession by summary proceedings or otherwise and to apply for term of the appointment of a receiver and for other ancillary relief in such action, provided that Lease Tenant shall have ten failed to perform any obligation required of Tenant hereunder, or has been in breach for any reason under the Lease more than two (102) days written times, and Landlord, because of any such failure and/or breach, shall have served upon Tenant within said twelve (12) month period two (2) or more notices of any such failure or breach, then any subsequent failure or breach shall be deemed a noncurable default, without requirement of notice after such application may have been filed and before any hearing thereon or opportunity to cure, and Landlord shall again have be immediately entitled to exercise any and enjoy all rights, remedies and/or elections specified below otherwise available at law or in equity. i. Tenant’s failure to vacate and surrender the Premises, Premises as if required by this Lease had never been madeupon the expiration of the Term or termination of this Lease.

Appears in 1 contract

Samples: Office Lease (Vestin Fund Iii LLC)

Defaults by Tenant. If (a) Tenant shall fail to timely pay any Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to Tenant defaults in the payment of Base RentRent or fails to maintain, a renew or replace any Letter of Credit or Security Deposit as required in accordance with Section 30 hereof and such default shall not be deemed to have occurred unless continues for three (3) or more days after written notice from Landlord that the same is past due, provided, however, that any such notice shall remain unpaid for a period be in lieu of, and not in addition to, any notice required under California Code of ten Civil Procedure Section 1161; (10ii) Tenant defaults in the prompt and full performance of any other provision of this Lease and Tenant does not cure the default within twenty-eight (28) days after it written demand by Landlord or Master Landlord that the default be cured (unless default is not reasonably capable of being cured within such twenty-eight (28) day period, in which case Tenant shall have become due and payablesuch period of time as may be reasonably required to cure such default, provided that Tenant commences the cure of such default within such twenty-eight (28) day period, and thereafter diligently prosecutes such cure to completion, and further provided that in no case shall the cure period hereunder be any longer than the cure period with respect to such default as provided under the Master Lease), provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161; (iiiii) as to other payments to be made by Tenant under enters into a Sublease Transfer without complying with the provisions of this Lease for which a period for payment after notice shall and the Master Lease and does not be set forth in this Lease, a cure the default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty within twenty-eight (3028) days after notice written demand by Landlord or demand to Tenant,Master Landlord that the default be cured; (iv) any voluntary or (b) Tenant shall fail to maintain involuntary petition or similar pleading under any insurance pursuant to the terms section or sections of this Lease, or (c) any bankruptcy or other insolvency proceedings act shall be instituted filed by or against Tenant; (v) any voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare Tenant insolvent or unable to pay Tenant's debts or, to the extent permitted by law, if Tenant is generally not paying its debts as they become due, or admits, in writing, that it is unable to pay its debts as they become due; (dvi) Tenant makes an assignment shall be made by Tenant for the benefit of its creditors; (vii) a trustee or receiver is appointed for Tenant or for the major part of Tenant's property; (viii) the leasehold interest of Tenant is levied upon under execution or is attached by process of law; (ix) Tenant abandons the Premises; (x) Tenant fails to observe or perform one or more of the terms, conditions, covenants or agreements of any mortgage of Tenant's interest in this Lease beyond any applicable notice or cure period and the same causes Landlord to be in default under the Master Lease; or (xi) a default (beyond applicable cure periods) has occurred under the Master Lease due to any negligence, act, or (e) failure to act by Tenant shall breach or fail by the Tenant's failure to perform its obligations as set forth herein including, without limitation, any other term default under Section 21.1 (l) through (o) of the Master Lease ((i) through (xi) above, each an "Event of Default"), then Landlord may, if Landlord so elects but not otherwise, with or condition without notice of such election and with or covenant of without any demand whatsoever, either terminate this Lease and such failure Tenant's right to possession of the Premises or, without terminating this Lease, terminate Tenant's right to possession of the Premises. An election by Landlord to terminate Tenant's right to possession of the Premises without terminating this Lease shall not be cured within thirty (30) days after written notice thereof from preclude a subsequent election by Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if terminate this Lease had never been madeLease.

Appears in 1 contract

Samples: Sublease Agreement (Playboy Enterprises Inc)

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute an "EVENT OF DEFAULT" under this Lease: (i) Tenant shall fail to timely pay default in the payment of any Rent installment of rent, additional rent or any other sum provided for under payment required to be made by Tenant hereunder following the expiration of the five (5) day grace period set forth in Section 4(c) hereof; and/or (ii) The failure by Tenant to observe and perform any other material provision of this Lease as to be observed or performed by Tenant, where such failure continues for 30 days after written notice thereof by Landlord to Tenant; provided however, that if the nature of such default is such that the same becomes due and payable (provided that (i) as to the payment of Base Rentcannot reasonably be cured within such 30-day period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall, within such period, commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period of ten (10) to completion within 90 days after it shall have become due and payable, and Landlord's notice (ii) as except with respect to other payments to be made any default by Tenant in connection with the Tenant's obligations under this Lease for which a period for payment after notice shall not be set forth in Section 24 hereof); and/or (iii) The making by Tenant (or any guarantor of Tenant with respect to this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain of any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an general assignment shall be made by Tenant for the benefit of creditors; the filing by or against Tenant (or any guarantor of Tenant with respect to this Lease) of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within 90 days); the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within 30 days; or the attachment, execution or other judicial seizure or non-judicial repossession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure or repossession, as the case may be, is not discharged within 30 days; or any Tenant, guarantor of Tenant, subtenant or assignee with respect to this Lease shall die or, in the case of corporations, shall have its corporate existence terminated. (eb) Tenant shall breach or fail In the event of any such default by Tenant, then in addition to perform any other term remedies available to Landlord hereunder and at law or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) daysequity, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties immediate option to terminate this Lease and obligation all rights of Tenant hereunder by giving written notice of such intention to terminate. (c) In the event of any such default by Tenant, with or without terminating this Lease, Landlord shall also have the right to re-enter the Premises and remove all persons and property from the Premises. Such property may be removed and stored elsewhere at the cost of and for the account of Tenant. In the event Tenant shall vacate or abandon the Premises and fail to make timely payments of Rent, Tenant shall be deemed to have granted Landlord a security interest in all furniture, fixtures, equipment, inventory, merchandise and other of Tenant's property which remains in the Premises after such vacation or abandonment and Landlord may, at Landlord's election, thereafter deal with such property as provided under the Uniform Commercial Code as adopted within the state in which the Premises is located. (d) Landlord may from time to time, without terminating this Lease, either recover all rental as it becomes due or relet the Premises or any parts thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises. (e) Both Landlord and Tenant shall each use commercially reasonable efforts to mitigate said damage and Tenant any damages resulting from an Event of Default. Landlord's obligation to mitigate damages after an Event of Default shall surrender and deliver up be satisfied in full if Landlord undertakes to lease the Premises to another tenant (a "SUBSTITUTE TENANT") in accordance with the following criteria: (i) Landlord shall have no obligation to solicit or entertain negotiations with any other prospective tenants for the Premises until Landlord obtains full and complete possession of the Premises including, without limitation, the final and unappealable legal right to relet the Premises free of any claim of Tenant; (ii) Landlord shall not be obligated to lease the Premises to a Substitute Tenant for a rental less than the current fair market rental then prevailing for similar uses in comparable properties in the same market area as the Premises, nor shall Landlord be obligated to enter into a new lease under other terms and conditions that are unacceptable to Landlord; and (iii) Landlord shall not be obligated to enter into a lease with any proposed Substitute Tenant which does not have, in Landlord's reasonable opinion, sufficient financial resources. Should Landlord elect to so relet, then rentals received by Landlord from such reletting shall be applied; first, to the payment of the entire costs associated with such reletting; second, to the payment of the cost of any alterations and repairs to the Premises deemed necessary by Landlord; third, to the payment of rent and additional rent due and unpaid hereunder; fourth, the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; and the residue, if any, shall be held by Landlord and upon applied in payment of future rent and additional rent as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of rent hereunder, be less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord within 10 days after Landlord shall xxxx Tenant for same. Tenant shall also pay to Landlord, as soon as ascertained, any costs and expense incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting of the Premises. (f) No re-entry or taking possession of the Premises by Landlord pursuant to paragraphs (c) or (d) of this Article shall be construed as either an acceptance of surrender or an election to terminate this Lease, nor shall it cause a forfeiture of Rents or other charges remaining to be paid during the balance of the Term, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any reletting without termination by Landlord because of any default by Tenant, Landlord may at any time after such default elect to terminate this Lease. (g) If Landlord elects to terminate this Lease on account of the occurrence of a default by Tenant, Tenant will remain liable to Landlord for damages in an amount equal to monthly Base Rent and other amounts which would have been owing by Tenant for the balance of the Term, had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all of Landlord's expenses in connection with such reletting. Landlord will be entitled to collect such damages from Tenant monthly on the day on which monthly rent and other amounts would have been payable under this Lease if this Lease had not been terminated, and Landlord will be entitled to receive such monthly rent and other amounts from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is so terminated, Landlord will be entitled to recover against Tenant as damages for loss of the bargain and not as a penalty: (i) The worth at the time of award of the unpaid rent which had been earned at the time of termination; (ii) The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; (iii) The worth at the time of award of the amount by which the unpaid rent for the balance of the Term (had the same not been so terminated by Landlord) after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; and (iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease. The "WORTH AT THE TIME OF AWARD" of the amounts referred to in clauses (i) and (ii) above is computed by adding interest at the per annum interest rate described in subsection (g) below on the date on which this Lease is terminated from the date of termination until the time of the award. The worth at the time of award of the amount referred to in clause (iii) above is computed by discounting such amount at the discount rate of the Federal Reserve Bank, at the time of award plus one percent (1%). (h) All amounts due to Landlord pursuant to this Lease that are not paid when due shall bear interest at the lesser of ten percent (10%) per annum or the maximum rate permitted by applicable law. Payment of such interest shall not excuse or cure any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if under this Lease had never been madeLease.

Appears in 1 contract

Samples: Lease Agreement (Source Interlink Companies Inc)

Defaults by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: (a) Any failure by Tenant shall fail to timely pay any Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a or any Additional Rent payable pursuant to Section 4.03 hereof, within five (5) Business Days following receipt of written notice from Landlord that such payment is past due (provided, however, in no event shall Landlord be obligated to provide Tenant written notice of default shall not be deemed under this Section 14.01(a) more than two [2] times in any one [1] calendar year); (b) Any failure by Tenant to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payablepay any Additional Rent otherwise payable pursuant to this Lease, and (ii) as or to make any other payments payment required to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Leasehereunder, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty of fifteen (3015) days after receipt by Tenant of written notice or demand from Landlord of any such failure to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or make timely payment; (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made Any failure by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to observe and perform any other term or condition or covenant material provision of this Lease and to be observed or performed by Tenant, where such failure shall not be cured within continues for thirty (30) days after written notice thereof from Landlord (or if such to Tenant; provided, however, that in the case of a default is incapable which cannot with due diligence be cured within a period of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced shall be deemed to have complied with such notice if it commences good faith efforts to cure the same such default within said such thirty (30) day period and thereafter diligently in good faith and with due diligence prosecutes such cure to completion; (d) Tenant is declared insolvent according to any law; or assignment of Tenant’s property is made for the benefit of creditors; or a receiver or trustee is appointed for Tenant or its property; or the interest of Tenant under this Lease is levied on or under execution or other legal process; or any petition is filed by or against Tenant to declare Tenant bankrupt or to delay, reduce or modify Tenant’s debts or obligations; or any petition is filed or other action taken to reorganize or modify Tenant’s capital structure if Tenant be a corporation or other entity (provided that no such levy, execution, legal process or petition filed against Tenant shall constitute a breach of this Lease if Tenant shall vigorously contest the same to completionby appropriate proceedings and shall remove or vacate the same within thirty (30) days from the date of its creation, but in no event exceeding service or filing); or (e) The abandonment of the Premises by Tenant, which shall mean that Tenant is completely absent from the Premises for ninety (90) days and or the failure of Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up occupy the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten within thirty (1030) days written notice after such application may have been filed Landlord notifies Tenant that the Premises are ready for occupancy combined with Tenant’s failure to pay any and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeall Rent due.

Appears in 1 contract

Samples: Lease Agreement (Mastech Holdings, Inc.)

Defaults by Tenant. If (a) Tenant The occurrence of any of the following shall fail to timely pay any Rent or any other sum provided for under constitute a material default and breach of this Lease as the same becomes due and payable (provided that lease by Tenant: (i) as Any failure by Tenant to pay the rental or make any other payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant hereunder when same shall become due and payable; (ii) The abandonment or vacation of the leased premises by Tenant; (iii) A failure by Tenant to observe and perform any other provision of this lease to be observed or performed by the Tenant, where such failure continues for three (3) days after written notice thereof by Landlord to Tenant; or (iv) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged as bankrupt or of a petition for reorganization or arrangement under this Lease for which any law relating to bankruptcy (unless in the case of a period for payment after notice shall not be set forth petition filed against Tenant, the same is dismissed within sixty (60) days); the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the leased premises or of Tenant's interest in this Leaselease; or the attachment, a default shall execution or other judicial seizure of substantially all of Tenant's assets located at the leased premises or of Tenant's interest in this lease, where such seizure is not be deemed to have occurred unless the same shall remain unpaid for a period discharged within thirty (30) days after notice or demand to Tenant,) or days. (b) In the event of any such default by Tenant, then in addition to any other remedies available to Landlord at law or in equity, Landlord shall have the immediate option to terminate this lease and all rights of Tenant hereunder by giving written notice of such intention to terminate. In the event that Landlord shall fail elect to maintain so terminate this lease, then Landlord may recover from Tenant: (i) The worth at the time of award of any insurance unpaid rent which had been earned at the time of such termination; plus (ii) The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus (iii) The worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus (iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this lease or which in the ordinary course of things would be likely to result therefrom; and (v) At Landlord's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. (c) The term "rent" as used herein shall be deemed to be and to mean the Minimum Annual Rental and all other sums required to be paid by Tenant pursuant to the terms of this Leaselease. For purposes of this ARTICLE 23, or (c) bankruptcy or all such sums, other insolvency proceedings than the Minimum Annual Rental, shall be instituted by or against Tenantcomputed on the basis of the average monthly amount thereof, or accruing during the immediately preceding twenty-four (d24) an assignment month period prior to default, except that if it becomes necessary to compute such rental before such twenty-four (24) month period has occurred, then such rental shall be made computed on the basis of the average monthly amount accruing during such shorter period. As used in paragraph (b) (i) and (b) (ii) above, the "worth at the time of award" is computed by Tenant for allowing interest at the benefit maximum legal rate. As used in paragraph (b) (iii) above, the "worth at the time of creditors, or award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of Dallas at the time of award plus one percent (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default1%), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.

Appears in 1 contract

Samples: Assignment of Lease (Casa Ole Restaurants Inc)

Defaults by Tenant. If The occurrence of any one or more of the following events shall be a default and breach of this Lease by Tenant (a) an “Event of Default”): A. Tenant shall fail to timely pay any Rent payment of rent within five (5) days after written notice thereof from Landlord; provided that Landlord shall only be required to give two (2) such written notices to Tenant in any calendar year during the Term and thereafter, rent shall be deemed late during the remainder of such calendar year only if not paid within seven (7) days of when due. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation, other sum provided for than the payment of rent, required to be performed or observed by it under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or demand obligations to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made performed by Tenant for is of such nature that the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and same cannot reasonably be performed within such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if day period, such default is incapable of being shall be deemed to have been cured in a reasonable manner within thirty (30) days, if Tenant has not commenced to cure the same commences such performance within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use uses commercially reasonable efforts to mitigate said damage diligently complete such performance. C. A trustee or receiver shall be appointed to take possession of substantially all of Tenant’s assets in, on or about the Premises or of Tenant’s interest in this Lease (and Tenant shall surrender and deliver up does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; substantially all of Tenant’s assets in, on or about the Premises to Landlord or Tenant’s interest in this Lease are attached or levied upon under execution (and upon any default by Tenant in so doing, Landlord shall have does not discharge the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten same within sixty (1060) days written notice thereafter); or, a petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant pursuant to any federal or state statute (and, with respect to any such petition filed against it, Tenant fails to secure a stay or discharge thereof within sixty (60) days after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madefiling of the same).

Appears in 1 contract

Samples: Office Lease Agreement (Twinlab Consolidated Holdings, Inc.)

Defaults by Tenant. If Tenant: (ai) Tenant shall fail fails to timely pay when due any Rent Rent, or any other sum of money which Tenant is obligated to pay, as provided for under in this Lease as the same becomes due and payable (provided that (i) as to the payment within 15 days of Base Rent, a default written notice by certified mail except for disputed items which shall not be deemed to have occurred unless the same shall remain unpaid for a period resolved within 30 days of ten (10) days after it shall have become due and payable, and such notice; or (ii) as to breaches any other payments to be made by Tenant under this Lease for which a period for payment after notice agreement, covenant or obligation herein set forth and such breach shall continue and not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured remedied within thirty (30) days after Landlord shall have given Tenant written notice thereof from Landlord (specifying the breach, or if such default is incapable breach cannot, with due diligence, be cured within said period of being cured in a reasonable manner within thirty (30) days, days and Tenant has does not commenced to cure the same within said thirty (30) day period commence and thereafter diligently prosecutes with reasonable diligence completely cure the same to completion, but in no event exceeding ninety breach within thirty (9030) days after notice; or (iii) files (or has filed against it and Tenant not stayed or vacated within sixty (60) days after filing) any petition or action for relief under any creditor’s law (including bankruptcy, reorganization, or similar action), either in state or federal court; or (iv) makes any transfer in fraud of creditors as defined in Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Bankruptcy Code (11U.S.C. 548, as amended or replaced), has a receiver appointed for its assets (and appointment shall not thereafter cure such defaulthave been stayed or vacated within thirty (30) days), or makes an assignment for benefit of creditors; then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation , and, in addition to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingother lawful right or remedy which it may have, Landlord shall have may do the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten following: (10i) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy terminate this Lease; (ii) repossess the Premises, and with or without terminating, relet the same at such amount as Landlord deems reasonable; and if the amount for which the Premises is relet is less than Tenant’s Rent and all other obligations of Tenant to Landlord hereunder, Tenant shall immediately pay the difference or demand to Landlord, but if in excess of Tenant’s Rent, and all other obligations of Tenant hereunder, the entire amount obtained from such reletting shall belong to Landlord, free of any claim of Tenant thereto; or (iii) with obtaining any court authorization, lock the Premises and deny Tenant access thereto. All reasonable expenses of Landlord in repairing, restoring, or altering the Premises for reletting as general office space, together with leasing fees and all other expenses in seeking and obtaining a new tenant, shall be charged to and be a liability of Tenant Landlord’s reasonable attorneys’ fees in pursuing any of the foregoing remedies, or in collecting any Rent due by Tenant hereunder, shall be paid by Tenant. Tenant further agrees that Landlord may obtain an order for summary ejectment from any court of competent jurisdiction without prejudice to Landlord’s rights to otherwise collect rents from Tenant. All rights and remedies of Landlord are cumulative, and the exercise of any one shall not be an election excluding Landlord at any other time from exercise of a different or inconsistent remedy. No exercise by Landlord of any right or remedy granted herein shall constitute or effect a termination of this Lease had never been madeunless Landlord shall so elect by written notice delivered to Tenant. No waiver by Landlord of any covenant or condition shall be deemed to imply or constitute a f [ILLEGIBLE] waiver of the same at a later time, and acceptance of Rent by Landlord, even with knowledge of a default Tenant, shall not constitute a waiver of such default.

Appears in 1 contract

Samples: Net Lease (TopBuild Corp)

Defaults by Tenant. If The occurrence of any of the following shall constitute a default under this Lease by Tenant (“Event of Default”): (a) The failure by Tenant shall fail to timely pay any Rent the rent or make any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease and Exhibits hereto as and when due where such failure continues for which a period for payment five (5) business days after notice thereof by Landlord to Tenant; provided, however, that such notice shall be in lieu of and not in addition to any notice required under Section 1161 of the California Code of Civil Procedure; (b) The abandonment of the Premises by Tenant. As used herein, “abandonment” shall be deemed to occur in accordance with Section 1951.3 of the California Civil Code; (c) The failure by Tenant to observe or perform the provisions of Articles 2 and 8 where such failure continues and is not remedied within three (3) business days after notice thereof from Landlord to Tenant, provided, however, if the nature of the default under this Paragraph 22.1(c) does not (i) adversely affect Building Systems or Service Facilities, (ii) adversely affect access to or safety of any Premises in the Building, or (iii) adversely affect the quiet enjoyment of any other tenant in the Project, then, if such default cannot reasonably be cured within such three (3) business day period, Landlord shall not be set forth in this Lease, a default entitled to exercise its remedies under Section 22.2 if within such three (3) business day period Tenant shall not be deemed to have occurred unless commence such cure and thereafter diligently prosecute the same to completion within ten (10) days, or, in the case of Article 8, within a reasonable period of time, provided that Tenant shall remain unpaid otherwise be liable to Landlord for a period such non-performance; (d) The failure by Tenant to observe or perform any other provision of this Lease and the Exhibits hereto, including the Rules and Regulations, to be observed or performed by Tenant, where such failure continues for thirty (30) days after notice or demand thereof by Landlord to Tenant,; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) or (b) day period, Tenant shall fail not be deemed to maintain any insurance pursuant be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to the terms of this Lease, or completion. Such thirty (c30) bankruptcy or other insolvency proceedings day notice shall be instituted in lieu of and not in addition to any notice required under Section 1161 of the California Code of Civil Procedure; (e) Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or the same is dismissed within sixty (d60) an assignment shall be made days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within sixty (60) days; or the attachment, execution, or other judicial seizure of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within sixty (e60) days; (f) The failure by Tenant shall breach to provide estoppel certificates within five (5) business days following notice from Landlord to Tenant that Tenant has failed to provide a requested estoppel certificate within the ten (10) day period required under Section 31.15 hereof; (g) A Transfer to an entity other than an Affiliate or fail Successor of Tenant without Landlord’s prior written consent which, as to perform a Sublease only, is not rescinded or otherwise terminated within ten (10) business days following notice from Landlord to Tenant of such prohibited Transfer; (h) Tenant's failure, refusal or neglect to cause to be released any other term mechanics’ lien placed against the Premises or condition the Project which relates to work or covenant services claimed to have been performed for, or materials claimed to have been furnished to, Tenant or the Premises, within twenty (20) days after written notice from Landlord thereof, or within such shorter period as is required under the terms of this Lease and such any Underlying Mortgage; (i) Any rent paid by Tenant is recovered by the debtor or bankruptcy trustee as a preference payment in the event of the filing by or against Tenant of any proceeding under bankruptcy law; (j) Any failure shall not be cured within by Tenant to provide Landlord with a renewed LC or a substitute LC in form reasonably acceptable to Landlord at least thirty (30) days after written notice thereof from Landlord prior to the expiration of the then existing LC; or (or if such default is incapable k) Any Event of being cured Default otherwise specified in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeLease.

Appears in 1 contract

Samples: Office Lease (Genius Products Inc)

Defaults by Tenant. If All rights and remedies of Landlord herein enumerated shall be cumulative, and none shall exclude any other right or remedy allowed by law, including the right to retain Tenant's property. It is agreed that the occurrence of any of the following shall constitute an "Event of Default" hereunder: (a) Tenant shall fail fail, neglect or refuse to timely pay any installment of Rent or to pay any other sum provided for under this Lease as the same becomes due and payable monies agreed by it to be paid, within five (provided that (i5) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) business days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or date when due; or (b) Tenant shall fail to maintain A voluntary or involuntary petition or similar pleading under any insurance pursuant to the terms section of this Lease, or (c) any bankruptcy or other insolvency proceedings act shall be instituted filed by or against Tenant, or (d) an assignment any voluntary or involuntary proceeding in any court or tribunal shall be made by instituted to declare Tenant for insolvent or unable to pay Xxxxxx's debts, and the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure same shall not be cured dismissed or discharged within thirty (30) days after written filing; or (c) Tenant shall fail, neglect, or refuse to keep and perform any of the other material covenants, conditions, stipulations, or agreements herein contained and covenanted and agreed to be kept and performed by it and any such default shall continue for a period of more than fifteen (15) days after notice thereof from Landlord (in writing given to Tenant by Landlord; provided, however, that if the cause for giving such notice involves the making of repairs or other matters reasonably requiring a longer period of time than the period of such notice, Tenant shall be deemed to have complied with such notice so long as it has commenced with said matter within the period set forth in the notice and is diligently prosecuting compliance with said notice, or has taken proper steps or proceedings, under the circumstances to prevent the seizure, destruction, alteration, or other interference with said Demised Premises by reason of non-compliance with the requirements of any law or ordinance or with the rules, regulations or directions of any governmental authority as the case may be; provided that in any event, if such default is incapable of being not cured in a reasonable manner within thirty sixty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (9060) days and after its occurrence, an Event of Default shall exist; or hereunder; or (d) Tenant shall not thereafter cure such default), then and in any such event vacate or abandon the Demised Premises without authority (e) Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if assign this Lease had never been madeor sublease the Demised Premises m violation of Section 23 hereof.

Appears in 1 contract

Samples: Office Lease

Defaults by Tenant. If (a) If any one or more of the following events ("Events of Default") shall occur, Tenant shall fail to timely pay be in Default hereunder: If default shall be made in the due and punctual payment of any installment of Minimum Basic Rent, or Additional Rent or any other sum provided for charges payable under this Lease Lease, when and as the same becomes shall become due and payable (provided that (i) as to the payment of Base Rentpayable, a and such default shall not be deemed to have occurred unless the same shall remain unpaid continue for a period of fifteen (15) days after written notice from Landlord to Tenant specifying the items in default; or (1) If default shall be made by Tenant in the performance or compliance with any of the agreements, terms, covenants or conditions in this Lease other than those referred to in the foregoing subparagraph (1) in any material respect, and such default shall continue for a period of sixty (60) days, after written notice from Landlord to Tenant specifying such default, or in case of a default or contingency which cannot with due diligence be corrected or otherwise promptly addressed within said sixty (60) day period, then Tenant shall be afforded such additional time as may be necessary to cure any such noticed default, so long as Tenant shall have commend such cure within said sixty (60) day period, and continues to diligently pursue same to completion; or (2) If the Tenant, shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future federal, state or other bankruptcy or insolvency statute or law, or shall seek or consent to the appointment of any bankruptcy or insolvency Trustee, receiver or liquidator of Tenant or of all or any substantial part of Tenant's assets or properties; or (3) If within ninety (90) days after the commencement of any proceeding against the Tenant seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal Bankruptcy Code or any other present or future federal, state or other bankruptcy or insolvency statute or law, such proceeding shall not have been dismissed, or if, within ninety (90) days after the appointment, without the consent of Tenant of any Trustee, receiver or liquidator of such Tenant or of all or substantially all of its assets or properties, such appointment shall not have been vacated or stayed on appeal or otherwise, or if within ninety (90) days after the expiration of any such stay, such appointment shall not have been vacated; then and in any such event Landlord, at any time within a period of ninety (90) days thereafter, may give written notice to Tenant specifying such default and stating that this Lease and the term hereby demised shall expire and terminate on the date specified in such notice which shall be at least ten (10) days after it shall have become due and payablethe giving of such notice, and (ii) as to other payments to be made by upon the date specified in such notice this Lease and the term hereby demised and all rights of Tenant under this Lease for which a period for payment after notice Lease, including any renewal or extension privileges whether or not exercised shall not be set forth in expire and terminate, and Tenant shall remain liable as hereinafter provided. (b) Upon any such expiration or termination of this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail quit and peacefully surrender the Demised Premises to maintain Landlord, and Landlord, upon or at any insurance pursuant such expiration or termination, may without further notice, enter upon and reenter the Demised Premises and possess and repossess itself thereof, by summary proceedings or otherwise, and may dispossess Tenant and remove Tenant and all other persons and property from the Demised Premises and may have, hold and enjoy the Demised Premises and the rights to receive all rental income of and from the same. (c) No such expiration or termination of this Lease, or abandonment or vacancy, shall relieve Tenant of its liability and obligation under this Lease, whether or not the Demised Premises shall be relet, and Tenant covenants and agrees, notwithstanding any such expiration or termination of this Lease, or summary proceedings, abandonment or vacancy, to pay and be liable for, on each day originally fixed herein for the payment thereof, an amount equal to the installment of rent and other charges reserved as would, under the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenantbecome due and payable on such day, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never not so expired or been madeterminated, or if Landlord had not entered or reentered as aforesaid, and whether the Demised Premises be relet or remain vacant in whole or in part or for a period less than the remainder of the term, and for the whole thereof, up to but not exceeding the amount of any deficiency then existing after giving due credit for any net proceeds of any reletting after deducting all of Landlord's reasonable expenses in connection with such reletting, including reasonable attorneys' fees, and any suit brought to collect the amount of the deficiency for any week shall not prejudice in any way the rights of Landlord to collect the amount of the deficiency for any subsequent week by a similar proceeding, OR IN THE ALTERNATIVE AT THE ELECTION OF Landlord, Tenant will, upon such expiration or termination, pay to Landlord as liquidated damages such a sum as at the time of such expiration or termination represents the excess, if any, of the Rent and other charges reserved in this Lease from the date of such expiration or termination to the date of the expiration of the original term, (or extended term, if the Lease has been so extended) of this Lease, over the then fair and reasonable rental value of the Demised Premises for the same period upon the terms and conditions set forth herein. In all events, Landlord shall use reasonable efforts to relet the Demised Premises.

Appears in 1 contract

Samples: Lease Agreement (AdvanSource Biomaterials Corp)

Defaults by Tenant. If (a) In the event of the failure on the part of the Tenant shall fail to timely pay any Rent installments of rent as above set out, or to pay real estate taxes as herein requested, as and when same become due and payable, or to provide liability insurance or fire and extended coverage insurance, as herein required, or failure of Tenant promptly, faithfully and materially to keep and perform each and every covenant, agreement, and stipulation herein contained on the part of the Tenant to be kept and performed, this Lease or Tenant's right to possession, shall be terminated, at the option of the Landlord. Any termination of Tenant's right to possession as herein provided, shall not relieve Tenant from its obligations to make the monthly payments of rent.herein reserved, at the times and in the manner provided. In such event, Landlord may relet the Demised Premises, as agent for and in the name of Tenant, at any rental and any term or terms readily obtainable, applying the proceeds thereof, first, to the payment of such reasonable expenses as Landlord may incur in reletting, including alterations, commissions and fees payable to third parties, additions, etc., second, to the payment of said rent as the same may from time to time become due, and third, towards the fulfillment of the other sum provided for covenants and agreements of the Tenant herein contained, and the remainder, if any, shall be held by Landlord and applied to the payment of future rent or future sums payable under this the Lease as the same becomes may become due and payable (provided that (i) hereunder. Should Landlord recover or take possession of the Demised Premises and be unable to relet the same so as to realize a sum equal to the payment rent hereby reserved, Tenant shall pay to Landlord any and all loss or differences for the residue of Base Rentthe term, a default shall not be deemed to have occurred unless the same to be calculated and paid monthly as such sum shall remain unpaid become due and payable under the Lease. Or in the event of any termination of this Lease, Landlord shall be entitled to recover the then present value of the difference between the rental agreed to be paid herein and the then fair rental value of the premises, together with other damages provided for by law, said present value to be determined by reference to the rate of interest publicly announced by The Boatmen's National Bank of St. Louis from time to time as its Corporate Base Rate. Landlord is hereby given the right to show the Demised Premises to persons who may wish to lease or buy during the last six months of the term or extended term hereof unless a renewal option has been duly exercised by Tenant. Nothing mentioned in this paragraph shall be construed to waive Landlord's right to cancel this Lease in the event of any breach on the part of Tenant, all of which rights of cancellation are herein specifically reserved by Landlord. The parties to this Lease agree that the Landlord shall have an affirmative duty to mitigate any damages claimed.pursuant to the provisions of this Lease, which duty shall be fulfilled in the manner provided by the laws of the State of Missouri. Prior to the termination, Landlord shall give to Tenant a notice in writing thirty (30) days, or such longer period as provided in this Lease, prior thereto in the manner provided by Article XIII hereof, during which time Tenant may cure such default by satisfying the stated grounds of termination. In the event, however, that the notice given by the Landlord is because of a failure of Tenant to pay rent, real estate taxes, insurance premiums, or other additional rent under this Lease, then in such event the notice in writing to be given to Tenant by Landlord shall be ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period instead of thirty (30) days after notice days. In the event said default or demand to Tenant,) defaults (except for defaults which can be cured by the payment of money or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) except for bankruptcy or other insolvency proceedings shall be instituted by of Tenant) are of such a nature that said default or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall defaults cannot be cured within thirty (30) days after written notice thereof from Landlord (or if days, Tenant shall have a reasonable time to cure such default is incapable of being cured in a reasonable manner or defaults, provided that Tenant commences within thirty (30) days, Tenant has not commenced days to cure the same within said thirty (30) day period default or defaults and thereafter diligently prosecutes the same continues with due and reasonable diligence to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter completion whatever may be necessary to cure such default), then and in any such event Tenant shall be in said default hereunderor defaults. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.XII

Appears in 1 contract

Samples: Lease Agreement (Graham Field Health Products Inc)

Defaults by Tenant. If (a) Tenant shall fail to timely pay any Rent or any other sum provided for under Without further notice, Landlord may terminate this Lease as the same becomes due and payable (provided that Lease: (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten five (105) days after it shall have become due and payablenotice of default, and (ii) as to if any default by Xxxxxx continues after notice of default, in case of nonpayment of rent or the nonpayment of any other charges or payments to be made hereunder by Tenant under this Lease Xxxxxx, for which a period for payment after more than five (5) days (except no notice shall not need be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid given for a period monetary default occurring after the second such monetary default in any Lease Year); or (ii) thirty (30) days after notice or demand to Tenant,of default, if Tenant does not cure any nonmonetary default within a reasonable time, but in any event no later than thirty (30) or days after notice of default; or (biii) Tenant shall fail to maintain immediately if Xxxxxx makes any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, commits any act of bankruptcy or files or is subject to a petition under any bankruptcy or insolvency law, and if such a petition filed against Tenant is not dismissed within ninety (e90) days; or (iv) immediately if a receiver or similar officer becomes entitled to this leasehold; or (v) immediately if Xxxxxx’s interest in this Lease is taken upon execution or other process of law in any action against Tenant; or (vi) immediately if the Leased Premises are levied upon by any revenue officer or similar officer; or (vii) immediately if Tenant does, or permits to be done, any act which creates a mechanic’s lien or claim therefor against the land or building of which the Leased Premises are a part and Tenant does not comply with the provisions of Section 7.1.M; or (viii) immediately if Tenant shall breach abandon, vacate or fail cease to perform any other continually operate its business within said Leased Premises during the term or condition or covenant of this Lease and such failure shall not be cured for a period of more than three (3) consecutive days or five (5) days in any Lease Year; or (ix) immediately if Tenant fails to open for business within thirty (30) days after written notice thereof from the Lease Commencement Date. Upon termination of this Lease, Landlord (may re-enter the Leased Premises with or if without process of law, using such default is incapable of being cured in a reasonable manner within thirty (30) daysforce as may be necessary, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completionremove all persons, but in no event exceeding ninety (90) days fixtures and Tenant chattels therefrom, and Landlord shall not thereafter cure be liable for any damages resulting therefrom. Upon such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have repossession of the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingLeased Premises, Landlord shall have not be liable for any damages resulting therefrom. Upon such repossession of the Leased Premises, Landlord shall be entitled to recover as liquidated damages and not as a penalty, immediately and upon demand, a lump sum of money equal to (a) the value of the Fixed Minimum Rent and other sums provided herein to be paid by Tenant to Landlord for the remainder of the Lease Term where recoverable under applicable state law (the “Total Rent Amount”) or (b) the Total Rent Amount, less the fair rental value of the Leased Premises for said period. Upon the happening of any one or more of the above-mentioned events, Landlord may repossess the Leased Premises by forcible entry or detainer suit, or otherwise, without demand or notice of any kind to Tenant (except as hereinabove expressly provided for) and without terminating this Lease, in which event Landlord may, but shall be under no obligation so to do, relet all or any part of the Leased Premises for such rent and upon such terms as shall be satisfactory to Landlord (including the right to recover possession relet the Leased Premises for a term greater or lesser than that remaining under the Lease Term, and the right to relet the Leased Premises as a part of a larger area, and the right to change the character or use made of the Leased Premises). For the purpose of such reletting, Landlord may decorate and make any repairs, changes, alterations or additions in or to the Leased Premises that may be necessary or convenient. If Landlord does not relet the Leased Premises, Tenant shall pay to Landlord on demand as liquidated damages and not as a penalty a sum equal to the amount of the Fixed Minimum Rent, and other sums provided herein to be paid by summary proceedings or otherwise and to apply Tenant for the appointment remainder of the Lease Term. If the Leased Premises are relet and a receiver sufficient sum shall not be realized from such reletting, after paying all of the expenses of such decorations, repairs, changes, alterations, additions, the expenses of such reletting and the collection of the rent accruing therefrom, to satisfy the rent herein provided to be paid for other ancillary relief in such actionthe remainder of the Lease Term, provided that Tenant shall have ten (10) days written notice after such application pay to Landlord, on demand, any deficiency and Tenant agrees that Landlord may have been filed file suit from time to time to recover any sums falling due under the terms of this section. Any recovery under this section shall be without relief from valuation and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeappraisement laws.

Appears in 1 contract

Samples: Master Condominium Shopping Center Lease Agreement

Defaults by Tenant. If 16.1 The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant (a) individually, an "Event of Default" and collectively, "Events of Default): 16.1.1 Failure by Tenant shall fail to timely pay any Rent Base Rental, Percentage Rental or any other sum provided for under this Lease as the same becomes amounts payable to Landlord hereunder when due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of within ten (10) days after it shall have become due and payable, and (ii) as written notice thereof by Landlord to other payments to be made Tenant; or 16.1.2 Failure by Tenant to perform any of its obligations (other than monetary payments addressed under subsection 16.1.1 above) under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured when due within thirty (30) days after the giving of written notice thereof from by Landlord to Tenant or such longer period of time as is reasonably needed to perform such obligations under the circumstances; or 16.1.3 Tenant shall become insolvent, or make a transfer in fraud of creditors, or make an assignment for the benefit of creditors; or 16.1.4 Tenant shall file a petition under any section or chapter of Title 11 of the United States Code relating to Bankruptcy, as amended, or similar bankruptcy laws (the "Bankruptcy Code"), or if under any similar law or statute of the United States or any state thereof; or there shall be filed against the Tenant or a petition in bankruptcy or insolvency or a similar proceeding, and any such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and proceeding filed against Tenant shall not thereafter cure such default), then and in any such event have been dismissed within sixty (60) days after its commencement; or Tenant shall be adjudged bankrupt or insolvent in default hereunder. Landlord shall have proceedings filed against or by Tenant; or 16.1.5 A receiver, liquidator or trustee is appointed for Tenant's property or any part thereof (the duties term "property" including, without limitation, Tenant's interest in the Facility) and obligation to use commercially reasonable efforts to mitigate said damage and is not removed within sixty (60) days after such appointment; or 16.1.6 The Facility or Tenant's effects or interest therein should be levied upon or attached under process; or 16.1.7 Tenant shall surrender and deliver up take advantage of any debtors relief proceedings under any present or future law whereby the Premises Base Rental, Percentage Rental or other amounts payable to Landlord and upon hereunder or any default by Tenant in so doingpart thereof is or is proposed to be reduced or payment hereof deferred. 16.2 Upon the occurrence of an Event of Default, Landlord shall have the right option to do any one or more of the following, in addition to and not in limitation of any other remedy permitted by law or equity or by this Lease: 16.2.1 Landlord may without notice or demand on Tenant terminate this Lease in which event Tenant shall immediately surrender the Facility in accordance with the provisions of this Lease to Landlord and remove all of Tenant's effects therefrom; or 16.2.2 Without terminating this Lease, Landlord may reenter the Facility and repossess itself thereof and expel all persons and effects therefrom using such force as may be necessary and without being guilty of trespass, forcible entry, or detainer or other tort and without being liable for prosecution or any claim for damages therefor; or 16.2.3 Landlord may do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord on demand, as additional rental, for any expenses, including reasonable attorneys' fees and interest at the Past Due Interest Rate, which Landlord may incur in thus effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to the Tenant from such action; or 16.2.4 Landlord may terminate this Lease and recover possession from Tenant all damages Landlord may incur by summary proceedings or otherwise reason of Tenant's default including, without limitation, all amounts previously due hereunder and a sum which at the date of such termination represents the present value (discounted at a rate equal to apply the then average rate for Moody's "AAA" rated corporate bonds) of the excess, if any, of (i) the Base Rental, Percentage Rental and other amounts that would have been payable hereunder by Tenant to Landlord for the appointment period commencing with the day following the date of a receiver such termination and ending with the date set forth herein for other ancillary relief in such actionexpiration of the full Term hereunder, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.over

Appears in 1 contract

Samples: Facility Lease Agreement (Ramsay Health Care Inc)

Defaults by Tenant. If The following events shall be events of default by Tenant under this Lease: (ai) Tenant shall fail to timely pay when due any Rent or any other sum provided for under this Lease as installment of the same becomes due and payable (provided that (i) as to the payment of Base Rentrent hereby reserved, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of such failure is cured within ten (10) days after it shall have become due and payable, and written notice; (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform comply with any other term or condition term, provision or covenant of this the Lease as and when required hereunder, unless such failure shall not be is cured within thirty (30) days after receipt of written notice thereof from Landlord (or if such default additional time as may be expressly provided in this Lease); (iii) the leasehold hereunder demised shall be taken on execution or other process of law in any action against Tenant; (iv) Tenant shall fail to promptly move into and take possession of the Premises when the Premises are ready for occupancy; (v) Tenant becomes insolvent, or makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due; (vi) Tenant is incapable generally not paying its debts as such debts become due; (vii) a receiver, trustee or custodian is appointed for, or takes possession of, all or substantially all of being cured the assets of Tenant or any of the Premises, either in a reasonable manner proceeding brought by Tenant or in a proceeding brought against Tenant and such appointment is not discharged or such possession is not terminated within thirty sixty (3060) daysdays after the effective date thereof, or Tenant has consents to or acquiesces in such appointment or possession; (viii) Tenant files a petition for relief under the Bankruptcy Code or any other present or future federal or state insolvency, bankruptcy or similar law (all of the foregoing hereinafter collectively called “applicable Bankruptcy Law”) or an involuntary petition for relief is filed against Tenant under any applicable Bankruptcy Law and such petition is not commenced dismissed within sixty (60) days after the filing thereof, or an order for relief naming Tenant is entered under any applicable Bankruptcy Law, or any composition, rearrangement, extension, reorganization or other relief of debtors now or hereafter existing is requested or consented to cure by Tenant; (ix) any other event occurs hereunder which is designated as a default; (x) Tenant defaults in its obligations under any other contract, agreement, lease, or writing with Landlord; or (xi) any of the same events referred to in subheadings (v), (vi), (vii) and (viii) shall occur with respect to any guarantor of the payment or performance of any Tenant’s obligations hereunder and shall not be remedied within said the time set forth in such subheadings. Notwithstanding the foregoing, any default under clause (ii) of this Section 14.1, which by its nature cannot reasonably be cured within the thirty (30) day period and provided therein, Tenant shall have such additional time as may be reasonably necessary to cure such default, provided: (a) Tenant shall commence such cure immediately after receipt of Landlord’s notice of default, (b) Tenant thereafter diligently and continuously prosecutes the same such cure to completion, but in no event exceeding ninety (90c) days and Tenant shall immediately cures any condition which poses a threat of physical injury or harm to people or property, (d) such default does not thereafter cure entail or create a condition which: (1) violates any law, (2) unreasonably disturbs, bothers, annoys or interferes with any other occupant of the Building, or such default)occupant’s employees, then and in any such event Tenant shall agents or guests, or (3) would cause Landlord to be in default hereunder. violation of any law or any deed of trust, mortgage loan, lease or other agreement to which Landlord shall have is a party, or which gives any other tenant of the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have Building the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madecancel its lease.

Appears in 1 contract

Samples: Lease Agreement (Ace Cash Express Inc/Tx)

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant. The failure by Tenant shall fail to timely pay any Rent the rent or make any other sum payment required to be made by Tenant hereunder as and when due where such failure continues for five (5) business days after notice thereof by Landlord to Tenant, provided however, that such notice shall be in lieu of and not in addition to any notice required under Nevada law. a. The abandonment or vacation of the Premises by Tenant. b. The failure by Tenant to observe or perform the provisions of Articles 2 and 6 where such failure continues and is not remedied within forty-eight (48) hours after notice thereof from Landlord to Tenant. c. The failure by Tenant to provide estoppel certificates as herein provided. d. The failure by Tenant to observe or perform any other provision of this Lease, including Rules and Regulations which may be adopted by Landlord where such failure continues for under this Lease as twenty (20) days after notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same becomes due and payable cannot reasonably be cured within such twenty (provided that (i20) as to the payment of Base Rentday period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted completion. e. Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default same is incapable of being cured in a reasonable manner dismissed within thirty (30) days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes days; or the same attachment, execution, or other judicial seizure of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days. f. Tenant shall fail to completion, but in no event exceeding ninety occupy the Premises within sixty (9060) days after the Commencement Date. g. In addition to the events constituting a default and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have breach of the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default Lease by Tenant in so doingas set forth herein, Landlord shall have if within any twelve (12) month period during the right to recover possession by summary proceedings or otherwise and to apply for term of the appointment of a receiver and for other ancillary relief in such action, provided that Lease Tenant shall have ten failed to perform any obligation required of Tenant hereunder, or has been in breach for any reason under the Lease more than two (102) days written times, and Landlord, because of any such failure and/or breach, shall have served upon Tenant within said twelve (12) month period two (2) or more notices of any such failure or breach, then any subsequent failure or breach shall be deemed a non-curable default, without requirement of notice after such application may have been filed and before any hearing thereon or opportunity to cure, and Landlord shall again have be immediately entitled to exercise any and enjoy all rights, remedies and/or elections specified below otherwise available at law or in equity. h. Tenant’s failure to vacate and surrender the Premises, Premises as if required by this Lease had never been madeupon the expiration of the Term or termination of this Lease.

Appears in 1 contract

Samples: Lease Agreement (CLS Holdings USA, Inc.)

Defaults by Tenant. If (a) Tenant a. The occurrence of any of the following shall fail to timely pay constitute a default and breach of this Lease by Tenant: i. Landlord Shall not have received any Rent payment of rental or any other sum provided for under payment required herein within ten (10) days of the due date thereof; landlord shall have no obligation whatsoever to notify Tenant of any such monetary default; or ii. The abandonment or vacation of the Leased Premises by Tenant; or iii. A failure by Tenant to observe and perform any other provision of this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rentbe observed or performed by Tenant, a default shall not be deemed to have occurred unless the same shall remain unpaid where such failure continues for a period of ten (10) days after it shall have become due and payablewritten notice thereof by Landlord to Tenant; provided, and however, that if the nature of such default is such that the same cannot reasonably be cured within such ten (ii10) as to other payments to be made by day period, Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid to completion; or iv. The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a period petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Leased Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days after days, or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Leased Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days. b. In the event of any default under this Lease as hereinabove set forth or otherwise, Landlord may at any time hereafter, with or without notice or demand demand, and without limiting Landlord in the exercise of any other legal remedy under the law or in equity or otherwise which Landlord may have by reason of the default, do one or more of the following: i. Landlord shall have the option to terminate this Lease and all rights of Tenant hereunder by giving written notice of such intention to terminate. In such event Landlord may recover from Tenant,) : 1. The worth at the time of award of any unpaid rental which had been earned at the time of such termination; plus 2. The worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of xxxx exceeds the amount of such rental loss Tenant proves could have been reasonably avoided; plus 3. The amount by which the unpaid rental for the balance of the term exceeds the amount which Landlord is able to obtain by renting the Leased Premises; plus 4. Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or (b) Tenant which in the ordinary course of things would be likely to result therefrom; and 5. At Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable law. The term “rental” as used herein shall fail be deemed to maintain any insurance be and to mean the base rental and all other amounts required to be paid by Tenant, pursuant to the terms of this Lease. All such sums, or (c) bankruptcy or other insolvency proceedings than the base rental, shall be instituted by or against Tenantcomputed on the basis of the average monthly amount thereof accruing during the immediately preceding twenty-four (24) month period prior to default, or except that if it becomes necessary to compute such amounts before such twenty-four (d24) an assignment month period has occurred, then such amounts shall be made computed on the basis of the average monthly amount accruing during such shorter period. As used in Sections (1) and (2) above, the “worth at time of award” is computed by Tenant for allowing interest at the benefit rate charged by the Federal Reserve Bank of creditors, or San Francisco to member banks at the time of award plus one percent (e) Tenant shall breach or fail to perform any other term or condition or covenant of 1%). ii. Landlord can continue this Lease in full force and such failure shall effect, regardless of whether or not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has abandoned the Leased Premises, and the Lease will continue in effect as long as Landlord does not commenced terminate Tenant’s right to cure the same within said thirty (30) day period possession, and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession collect rent when due. In addition: 1. During the period Tenant is in default, Landlord, at its election, may enter the Leased Premises and relet them or any part of them upon such terms as Landlord, in its sole discretion shall deem appropriate. Any rentals received by summary proceedings Landlord from such reletting shall be applied; first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; Second, to the payment of any cost of such reletting, including, but not limited to, leasing commissions and reasonable attorney’s fees; third, to the payment of the cost of any necessary alterations to the Leased Premises, and repairs to the Leased Premises; and fourth, to the payment of rentals and other amounts due and unpaid hereunder. Should that portion of such rentals received from such reletting during any month which is applied to the payment of rent hereunder, be less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall also pay to Landlord, as soon as ascertained, any cost and expense incurred by Landlord in such reletting or otherwise in making such alterations and repairs not covered by the rentals received from such reletting of the Leased Premises. 2. Neither Landlord’s (a) acts of maintenance or preservation or efforts to apply for relet the Leased Premises, nor (b) the appointment of a receiver upon the initiative of the Landlord to protect Landlord’s interest under the Lease, shall constitute a termination of Tenant’s rights to possession unless Landlord notifies Tenant that landlord elects to terminate this Lease. iii. In the event of any such default by Tenant, Landlord shall also have the right to reenter the Leased Premises and remove all persons and property from the Leased Premises; such property may be removed and stored in a public warehouse or elsewhere at the cost of and for the account of Tenant. iv. No re-entry or taking possession of the Leased Premises by Landlord pursuant to this section shall be construed as an election to terminate this Lease nor shall it cause a forfeiture of rentals or other ancillary relief in such actionamounts remaining to be paid during the balance of the Lease Term, provided that Tenant shall have ten (10) days unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any reletting, without termination by Landlord because of any default by Tenant, Landlord may at any time after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if reletting elect to terminate this Lease had never been madefor any such default.

Appears in 1 contract

Samples: Lease Agreement (Volu-Sol Reagents CORP)

Defaults by Tenant. If (a) Tenant shall fail be in default under this Lease: 16.2.1 If Tenant abandons or vacates the Premises for ninety (90) days; 16.2.2 If Tenant fails to timely pay any Base Monthly Rent, Additional Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments Rent required to be made paid by Tenant, as and when due; provided, however, that the first time that Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed fails to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance timely and completely pay Rent pursuant to the terms of this Lease during the Term, such failure to pay shall be a default only after Landlord notifies Tenant of such failure to properly pay and Tenant's failure to pay continues for three (3) days after Tenant's receipt of such written notice; 16.2.3 If Tenant uses the Premises in violation of any provision of this Lease; 16.2.4 If (i) Tenant's use of the Premises involves the generation or storage, use, treatment or disposal of Hazardous Material in a manner or for a purpose prohibited by any Hazardous Materials Law; (ii) Tenant has been required by any lender or governmental authority to take remedial action in connection with Hazardous Material contaminating the Premises if the contamination resulted from Tenant's action or use of the Premises and fails to do so in a timely fashion; or (ciii) bankruptcy Tenant is subject to an enforcement order issued by any governmental authority in connection with the use, disposal or storage of a Hazardous Material on the Premises. 16.2.5 If Tenant fails to perform any of Tenant's nonmonetary obligations under this Lease (other insolvency proceedings than Tenant's obligations under Sections 16.2.3, 16.2.4, 16.2.5 and 16.2.6 for which there will be no additional cure periods) for a period of twenty (20) days after written notice from Landlord; provided that if such cure is not reasonably susceptible of being cured within such twenty (20) day period, Tenant shall not be instituted in default if Tenant commences such performance within the twenty (20) day period and uses its best efforts and due diligence to promptly cure the default. However, Landlord shall not be required to give such notice if Tenant's failure to perform constitutes a non-curable breach of this Lease (including, but not limited to, a Transfer in violation of the terms of this Lease). The notice required by this Section is intended to satisfy any and all notice requirements imposed by law on Landlord prior to the commencement of an unlawful detainer action and is not in addition to any such requirement; (i) If Tenant makes a general assignment or against Tenant, or (d) an assignment shall be made by Tenant general arrangement for the benefit of creditors, ; (ii) if Tenant files a petition for adjudication of bankruptcy or for reorganization or rearrangement or any similar proceeding; (eiii) if a petition for adjudication of bankruptcy or for reorganization or rearrangement is filed against Tenant shall breach and is not dismissed within sixty (60) days; (iv) if a trustee or fail receiver is appointed to perform any other term take possession of substantially all of Tenant's assets located at the Premises or condition or covenant of Tenant's interest in this Lease and such failure shall possession is not be cured restored to Tenant within thirty sixty (3060) days after written notice thereof from Landlord days; or (v) if substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease is subjected to attachment, execution or other judicial seizure which is not discharged within sixty (60) days. If a court of competent jurisdiction determines that any of the acts described in this subsection is not a default under this Lease, and a trustee is appointed to take possession (or if Tenant remains a debtor in possession) and such default is incapable of being cured in a reasonable manner within thirty (30) days, trustee or Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default)transfers Tenant's interest hereunder, then and in any such event Tenant shall be in default hereunder. Landlord shall have receive, as Additional Rent, the duties difference between the Rent (or any other consideration) paid in connection with such assignment or sublease and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default Rent payable by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madehereunder.

Appears in 1 contract

Samples: Lease Agreement (Inland Casino Corp)

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Defaults by Tenant. If (a) Tenant A. The occurrence of any of the following shall fail to timely pay any Rent or any other sum provided for under constitute a default and breach of this Lease as the same becomes due and payable (provided that by Tenant: (i) as Any failure by Tenant to the pay Rent or make any other payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty hereunder within five (305) days after receipt of written notice from the Landlord. (ii) A failure by Tenant to observe and perform any other material provision of this Lease to be observed or demand performed by the Tenant, where such failure continues for twenty (20) days after written notice thereof by Landlord to Tenant,, except that this twenty (20) or day period shall be extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said twenty (b20) day period and Tenant proceeds to diligently cure the default. B. In the event of any such default by Tenant, then Landlord shall be entitled to all of the following remedies: (i) terminate this Lease by giving written notice of termination to Tenant, in which event Tenant shall fail immediately surrender the Demised Premises to maintain Landlord. If Tenant fails to so surrender the Demised Premises, then Landlord may, without prejudice to any insurance pursuant other remedy it has for possession of the Demised Premises or arrearages in Rent or other damages, re-enter and take possession of the Demised Premises and expel or remove Tenant and any other person occupying the Demised Premises or any part thereof, in accordance with applicable law; or (ii) Landlord may re-enter and take possession of the Demised Premises without terminating the Lease in accordance with applicable law, and relet the Demised Premises and apply the Rent received to the account of Tenant. In the event Landlord so re- enters and takes possession of the Demised Premises as set forth above, Landlord agrees to use reasonable efforts to relet the Demised Premises for a commercially reasonable rate at the time of such reletting. No reletting by Landlord is considered to be for Landlord's own account unless Landlord has notified Tenant in writing that this Lease has been terminated. In addition, no such reletting to be considered an acceptance of Tenant's surrender of the Demised Premises unless Landlord so notifies Tenant in writing; or (iii) re-enter the Demised Premises without terminating the Lease and without being liable for any damages, whether caused by the negligence of Landlord or otherwise, and do whatever Tenant is obligated to do under the Lease. Tenant shall pay to Landlord, upon demand, the reasonable expense paid by Landlord in satisfying Tenant's obligations under the terms of this Lease. Any sums so expended by Landlord shall bear interest from the date expended until the date Landlord is repaid. C. Notwithstanding anything to the contrary contained in this Lease: (i) Landlord shall not have any right to accelerate the Rent and other amounts payable hereunder, xxx Tenant for any consequential, punitive or incidental damages, such as any claims for lost profits and/or lost business opportunity, or (c) bankruptcy xxx Tenant for the cost to renovate the Demised Premises for any prospective tenant except to correct or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be remove changes made by Tenant without Landlord's consent (where required); (ii) in the event of any default by Tenant under this Lease, Landlord shall in each case use its reasonable efforts to mitigate its damages. D. If Landlord obtains possession of the Demised Premises as a result of the Tenant's abandonment of same or by a decree from a court of competent jurisdiction, this shall not be construed as an election to terminate this Lease unless Landlord provides Tenant with a written notice of this election. E. If a petition for relief shall be filed by Tenant pursuant to any state or federal bankruptcy or insolvency law or if Tenant shall be an adjudicated bankrupt, or if Tenant shall make a general assignment for the benefit of creditors, or (e) if in any proceeding based upon the insolvency of Tenant, a receiver of Tenant or its tenant shall breach or fail to perform any other term or condition or covenant of this Lease be appointed and such failure shall not be cured discharged within thirty sixty (3060) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default)thereafter, then and in any such event Tenant shall be in default hereunderunder the terms of this Lease, and Landlord may, to the extent permitted by law, exercise all rights and remedies available to Landlord under this Lease or in law or equity occasioned by said default. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and If Tenant shall surrender and deliver up become the Premises subject of any bankruptcy or insolvency proceeding under any state or federal law, whether or not pursuant to a petition or other proceeding filed by or on behalf of Tenant or by any other party, then the Tenant (whether as debtor in possession or in any other capacity), or any trustee or other party or entity, acting on behalf of Tenant, or exercising the rights of Tenant hereunder shall: (i) Afford to Landlord all rights and upon benefits to which Landlord is entitled under any default applicable statute or rule, including, by Tenant in so doingway of example, cure of existing defaults or adequate assurance or prompt cure; compensation for pecuniary loss incurred by Landlord shall have arising as a result of Tenant's acts or adequate assurance of prompt compensation therefor; adequate assurance of future performance of Tenant's obligations under this Lease, which may be secured by the right posting of security deposits, advance payments on account of real estate taxes or other charges as accrued. (ii) Timely perform all acts, and make all payments to recover possession Landlord as required by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madewithout exception, subject to applicable statute or rule.

Appears in 1 contract

Samples: Lease Agreement (Cheyenne Software Inc)

Defaults by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: (a) Any failure by Tenant shall fail to timely pay any Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not or any Additional Rent payable pursuant to Section 4.03 hereof, within five (5) business days following the date on which such payment is due; (b) Any failure by Tenant to pay any Additional Rent otherwise payable pursuant to this Lease, or to make any other payment required to be deemed to have occurred unless the same shall remain unpaid made by Tenant hereunder, for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made receipt by Tenant under this Lease for which a period for payment after of written notice shall not be set forth in this Lease, a default shall not be deemed from Landlord of any such failure to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or make timely payment; (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made Any failure by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to observe and perform any other term or condition or covenant material provision of this Lease and to be observed or performed by Tenant, where such failure shall not be cured within continues for thirty (30) days after written notice thereof from Landlord (or if such to Tenant; provided, however, that in the case of a default is incapable which cannot with due diligence be cured within a period of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced shall be deemed to cure have complied with such notice and thereafter diligently proceeds to comply with such notice; or (d) Tenant is declared insolvent according to any law; or assignment of Tenant’s property is made for the benefit of creditors; or a receiver or trustee is appointed for Tenant or its property; or the interest of Tenant under this Lease is levied on or under execution or other legal process; or any petition is filed by or against Tenant to declare Tenant bankrupt or to delay, reduce or modify Tenant’s debts or obligations; or any petition is filed or other action taken to reorganize or modify Tenant’s capital structure if Tenant be a corporation or other entity (provided that no such levy, execution, legal process or petition filed against Tenant shall constitute a breach of this Lease if Tenant shall vigorously contest the same by appropriate proceedings and shall remove or vacate the same within said thirty (30) day period and thereafter diligently prosecutes days from the same date of its creation, service or filing). (e) The abandonment or vacation of the Premises by Tenant, which shall mean that Tenant is absent from the Premises for thirty (30) consecutive days or the failure of Tenant to completion, but in no event exceeding ninety occupy the Premises within thirty (9030) days and after Landlord notifies Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up that the Premises are ready for occupancy combined with Tenant’s failure to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madepay all Rent due.

Appears in 1 contract

Samples: Lease Agreement (Tollgrade Communications Inc \Pa\)

Defaults by Tenant. If The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Tenant (a) "Event of Default"): A. The failure by Tenant shall fail to timely pay make any Base Rent payment, additional rent payment, or any other sum provided payment required to be made by Tenant, as and when due, where such failure shall continue for under a period of five (5) days after written notice of the failure from Landlord to Tenant. B. The failure by Tenant to observe or perform any of the covenants, conditions or provisions of this Lease as to be observed or performed by Tenant, other than described in Subparagraph A where such failure shall continue for a period of fifteen (15) days after written notice from Landlord to Tenant; provided, however, that if the same becomes due and payable default is capable of being cured, but is not capable of being cured within said fifteen (provided that (i15) as to the payment of Base Rentday period, a default Tenant shall not be deemed to have occurred unless be in default if such cure is commenced within said fifteen (15) day period and Tenant diligently pursues the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as cure to other payments to be made completion. C. The making by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain of any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an general assignment shall be made by Tenant for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, or in the case of the petition filed against Tenant, the same is dismissed within sixty (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (3060) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for ; the appointment of a trustee or receiver and for other ancillary relief to take possession of substantially all of Tenant's assets located at the Leased Premises or of Tenant's interest in this Lease, where such action, provided that appointment is not discharged within sixty (60) days. D. Execution by Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if of an instrument purporting to assign Tenant's interest under this Lease had never been madeor to sublet the whole or any portion of the Leased Premises to a third party except as permitted under Article 10 of this Lease.

Appears in 1 contract

Samples: Lease (Streamline Com Inc)

Defaults by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: (aI) any failure by Tenant shall fail to timely pay any Rent or any other sum provided for monetary sums required to be paid under this Lease as the same becomes due and payable where such failure continues for five (provided that (i5) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) business days after it shall have become due and payable, and written notice has been received by Tenant; (ii) as the abandonment or vacation of the Premises by Tenant; (iii) a failure by Tenant to observe and perform any other payments provision of this Lease to be made observed and performed by Tenant under this Lease Tenant, where such failure continues for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after Tenant's receipt of written notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to from Landlord, provided, however, that if the terms nature of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and default is such failure shall that the same cannot reasonably be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period, Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecutes prosecute the same to completion. If Tenant is otherwise in material default under the terms of this Lease, but the occurrence of any of the following shall constitute a material default: (A) the making by Tenant of any general assignment or general arrangement for the benefit of creditors; or (B) the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt, or a petition or reorganization or arrangement under any law relating to bankruptcy (unless, in no event exceeding the case of a petition filed against Tenant, the same is dismissed within one hundred twenty (120) days; or 8) the appointment of a trustee or a receiver to take possession of substantially all of the Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within ninety (90) days and Tenant shall not thereafter cure such default)days; or (D) the attachment, then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up execution or other judicial seizure of substantially all of Tenant's assets located at the Premises to Landlord and upon any default by Tenant or of Tenant's interest in so doingthis Lease, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in where such action, provided that Tenant shall have ten seizure is not discharged within ninety (1090) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madedays.

Appears in 1 contract

Samples: Lease Agreement (Chicago Pizza & Brewery Inc)

Defaults by Tenant. If The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Tenant: (a) The abandonment of the Premises by Tenant. (b) The failure by Tenant shall fail to timely pay make any payment of Rent or Expenses or of any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as required to the payment of Base Rentbe made by Tenant hereunder, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of within ten (10) days after it shall have become due and payable, and (ii) as written notice from Landlord to other payments to be made by Tenant under this Lease for which a period for payment after notice shall that such amount has not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or been paid when due. (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made The failure by Tenant for the benefit of creditors, to observe or (e) Tenant shall breach or fail to perform any other term of the covenants, conditions or condition or covenant provisions of this Lease and to be observed or performed by Tenant, if such failure shall is not be cured within thirty (30) days after written notice thereof from Landlord (or to Tenant; provided, however, that if such the nature of Tenant's default is incapable such that it cannot be cured solely by payment of being cured in a reasonable manner within money and more than thirty (30) days, days are reasonably required for its cure then Tenant has shall not commenced be deemed to be in default if Tenant commences such cure within the same within said thirty (30) day period and thereafter diligently prosecutes the same such cure to completion: Violations by Tenant of the Rules and Regulations described in Article 36 shall be cured by Tenant within seventy-two (72) hours after written notice thereof from Landlord, failing which Landlord may (but need not) cure same, in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such which event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingpay Landlord, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have within ten (10) days after written notice after thereof by Landlord, the amount expended by Landlord to effect such application may have been filed cure together with an administrative charge of five percent (5%) of the amount thereof; provided, however, if neither Landlord nor Tenant cures a violation of the Rules and before any hearing thereon and Landlord Regulations within such 72-hour period then Tenant shall again have and enjoy the Premises, as if not be deemed in default of this Lease had never been madeentitling Landlord to the remedies set forth in Article 22 unless the requirements of the first sentence of Article 21(c) are met. (d) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days): the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days.

Appears in 1 contract

Samples: Sublease Agreement (Vision Solutions Inc)

Defaults by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: (a) The failure by Tenant shall fail to timely pay any Rent or any other sum provided the rent hereunder as and when due where such failure continues for under this Lease as the same becomes due and payable five (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (105) days after it notice thereof by Landlord to Tenant; provided, however, that such notice shall have become due be in lieu of and payable, and not in addition to any notice required under Nevada law. (iib) as to other payments to be made The abandonment or vacation of the Premises by Tenant. (c) The failure by Tenant under to provide estoppel certificates as herein provided. (d) The failure by Tenant to observe or perform any other provision of this Lease where such failure continues for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand thereof by Landlord to Tenant,; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) or (b) day period, Tenant shall fail not be deemed to maintain any insurance pursuant be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to the terms of this Lease, or completion. (ce) bankruptcy or other insolvency proceedings shall be instituted Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or the same is dismissed within ninety (d90) an assignment shall be made days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant's assets located at the Premises or of Tenant's interest in this Lease, or (e) where possession is not restored to Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default)days; or the attachment, then and in execution, or other judicial seizure of all or any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up portion of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within ninety (90) days. (f) Tenant's failure to Landlord vacate and upon any default surrender the Premises as required by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeupon the expiration of the Lease Term or termination of this Lease.

Appears in 1 contract

Samples: Triple Net Lease Agreement (Cross Continent Auto Retailers Inc M&l)

Defaults by Tenant. If Tenant: (ai) Tenant shall fail to timely pay any Rent FAILS TO PAY RENT or any other sum of money which Tenant is obligated to pay, as provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default WHEN DUE (A "LATE PAYMENT"), THEN TWICE DURING ANY CALENDAR YEAR SUCH LATE PAYMENT SHALL NOT BE CONSIDERED AN EVENT OF DEFAULT, IF, WITHIN FIVE (5) DAYS AFTER WRITTEN NOTICE FROM LANDLORD (THE "GRACE PERIOD"), TENANT SUBMITS THE RENT DUE, INCLUDING THE LATE CHARGE OF FOUR PERCENT (4%), FOR SUCH MONTH. LANDLORD SHALL FORGIVE TENANT ONLY TWO (2) LATE PAYMENTS PER CALENDAR YEAR, ANY ADDITIONAL LATE PAYMENT SHALL CONSTITUTE AN EVENT OF DEFAULT; or (ii) breaches any other agreement, covenant or obligation herein set forth and such breach shall continue and not be deemed to have occurred unless the same shall remain unpaid for a period thirty remedied within fifteen (3015) days after Landlord shall have given Tenant written notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to specifying the terms of this Leasebreach, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenantif such breach cannot, or (d) an assignment shall be made by Tenant for the benefit of creditorswith due diligence, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within said period of fifteen (15) days and Tenant does not within said fifteen (15) day period commence and thereafter with reasonable diligence completely cure the breach within thirty (30) days after written notice thereof from Landlord notice; or (iii) files (or if such default is incapable has filed against it and not stayed or vacated within sixty (60) days after filing) any petition or action for relief under any creditor's law (including bankruptcy, reorganization, or similar action), either in state or federal court; or (iv) makes any transfer in fraud of being cured creditors as defined in Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Bankruptcy Code (11U.S.C. 548, as amended or replaced), has a reasonable manner receiver appointed for its assets (and appointment shall not have been stayed or vacated within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), or makes an assignment for benefit of creditors; then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation , and, in addition to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingother lawful right or remedy which it may have, Landlord shall have may do the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten following: (10i) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy terminate this Lease; (ii) repossess the Premises, and with or without terminating, relet the same at such amount as Landlord deems reasonable; and if the amount for which the Premises is relet is less than Tenant's Rent and all other obligations of Tenant to Landlord hereunder, Tenant shall immediately pay the difference or demand to Landlord, but if in excess of Tenant's Rent, and all other obligations of Tenant hereunder, the entire amount obtained from such reletting shall belong to Landlord, free of any claim of Tenant thereto; (iii) seize and hold any personal property of Tenant located in the Premises and assert against the same a lien for monies due Landlord; or (iv) without obtaining any court authorization, lock the Premises and deny Tenant access thereto. All reasonable expenses of Landlord in repairing, restoring, or altering the Premises for reletting as general office space, together with leasing fees and all other expenses in seeking and obtaining a new tenant, shall be charged to and be a liability of Tenant. Landlord's reasonable attorneys' fees in pursuing any of the foregoing remedies, or in collecting any Rent due by Tenant hereunder, shall be paid by Tenant. Tenant further agrees that Landlord may obtain an order for summary ejectment from any court of competent jurisdiction without prejudice to Landlord's rights to otherwise collect rents from Tenant. All rights and remedies of Landlord are cumulative, and the exercise of any one shall not be an election excluding Landlord at any other time from exercise of a different or inconsistent remedy. No exercise by Landlord of any right or remedy granted herein shall constitute or effect a termination of this Lease had never been madeunless Landlord shall so elect by written notice delivered to Tenant. No waiver by Landlord of any covenant or condition shall be deemed to imply or constitute a further waiver of the same at a later time, and acceptance of Rent by Landlord, even with knowledge of a default by Tenant, shall not constitute a waiver of such default.

Appears in 1 contract

Samples: Net Lease (Broadband Technologies Inc /De/)

Defaults by Tenant. If The occurrence of any of the following shall constitute an event of default hereunder by Tenant, in addition to those provided elsewhere in this Lease: (a) Tenant shall fail to timely pay any installment of rent hereby reserved when due, including without limitation the Base Rent or and any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Additional Rent, a default and such failure shall not be deemed to have occurred unless the same shall remain unpaid continue for a period of ten (10) days after it shall have become written notice of such failure to pay on the due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or date. (b) Tenant shall fail fails to maintain any insurance pursuant observe, perform and keep each and every of the covenants, agreements, provisions, stipulations and conditions contained in this Lease to the terms of this Leasebe observed, or (c) bankruptcy or other insolvency proceedings shall be instituted performed and kept by or against Tenant, or (d) an assignment shall be made by Tenant other than the payment of Base Rent, Additional Rent and any other sum due and payable hereunder, including without limitation the "Rules and Regulations" for the benefit Project of creditorswhich the Premises is a part, or (e) and unless otherwise specified herein, Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and persists in such failure shall not be cured within for thirty (30) days after written notice thereof from by Landlord requiring that Tenant correct such failure; provided, that in the event any such failure is not reasonably susceptible of cure within such thirty (or if such default is incapable of being cured in 30) day period, Tenant shall have a reasonable manner time to cure such failure, provided Tenant commences cure as soon as is reasonably possible and prosecutes such cure diligently to completion. (c) Tenant shall become insolvent, or shall make a transfer in fraud of creditors, or shall make an assignment for the benefit of creditors. (d) Any petition is held against Tenant, Tenant shall file a petition for debt relief, under any section or chapter of the national or federal bankruptcy code, as amended, or under any applicable federal or state bankruptcy, insolvency or other similar act, and not dismissed or vacated within sixty (60) days of the filing thereof, or Tenant shall be adjudged bankrupt or insolvent in proceedings filed against Tenant thereunder. (e) A receiver or trustee shall be appointed for all or substantially any of the assets of Tenant. (f) [Intentionally Omitted]. (g) [Intentionally Omitted]. (h) Tenant or any guarantor of this Lease shall make a material misrepresentation to Landlord prior to or contemporaneously with the execution of this Lease. (i) A lien is filed against the Premises, Building or Project or Landlord's estate therein by reason of any work, labor, services or materials performed or furnished or alleged to have been performed or furnished by Tenant or anyone holding the Premises by, through or under Tenant and Tenant fails to have the same canceled of record, vacated or bonded within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madefiling thereof.

Appears in 1 contract

Samples: Lease Agreement (Serologicals Corp)

Defaults by Tenant. If Tenant (a) Tenant shall fail to timely pay any Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to defaults in the payment of Base RentAnnual Rent and Additional Rent payable under this Lease, a and such default shall not be deemed to have occurred unless the same shall remain unpaid continues for a period of more than ten (10) days after it shall have become due and payablereceipt of written notice thereof; or (b) defaults in the performance or observance of any term, and (ii) as to other payments covenant or condition to be made performed by Tenant under this Lease for which a period for it hereunder that may be performed merely by the payment after notice shall of money and such default is not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty rectified within ten (3010) days after receipt of written notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or thereof; or (c) bankruptcy shall allow any insurance policy required to be carried by it hereunder to lapse or other insolvency proceedings shall to be instituted by cancelled and does not cause such insurance to be replaced within ten (10) days after receipt of written notice of such lapse or against Tenant, or cancellation from Landlord; or (d) an assignment shall be made by Tenant for defaults in the benefit performance or observance of creditors, or (e) Tenant shall breach or fail to perform any other term term, covenant or condition or covenant of this Lease on Tenant’s part to be performed or observed and does not commence to rectify such failure shall not be cured default within thirty (30) days after written notice thereof from or does not thereafter diligently complete the rectification thereof, then, in any of such foregoing events, Landlord may, at its option, (i) terminate this Lease and reenter the Premises or if (ii) reenter the Premises without terminating this Lease, and, using due care, assume custody and control thereof for the purpose of protecting the Premises and/or for reletting the Premises as agent for Tenant and such default is incapable of being cured in agency shall be deemed as a power coupled with an interest and shall be irrevocable. In either such event Landlord shall make a reasonable manner within thirty (30) dayseffort to relet the Premises and shall be entitled to the benefit of all provisions of the public general laws of Maryland and the public local laws and ordinances of Baltimore County respecting the summary eviction of tenants in default or tenants holding over, or respecting proceedings in forcible entry and detainer. Notwithstanding termination and/or re-entry, Tenant has shall remain liable for any Annual Rent, Additional Rent, and damages (exclusive of consequential damages) having accrued prior thereto and for any Annual Rent, Additional Rent, and damages (exclusive of consequential damages) which shall become due thereafter and shall pay Landlord for all reasonable costs and expenses, including but not commenced to cure limited to, attorneys’ and brokers’ fees and expenses, paid or incurred by Landlord in connection with: (1) obtaining possession of the same within said thirty Premises; (302) day period removal and thereafter diligently prosecutes the same to completionstorage of Tenant’s or other occupant’s property; (3) care, but in no event exceeding ninety (90) days maintenance and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up repair of the Premises to Landlord while vacant; (4) re-letting the whole or any part of the Premises; and upon any default by Tenant in so doing(5) repairing, Landlord shall have the right to recover possession by summary proceedings altering, renovating, partitioning, enlarging, remodeling or otherwise putting the Premises into condition acceptable to, and reasonably necessary to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeobtain new tenants.

Appears in 1 contract

Samples: Ground Lease (Carrollton Bancorp)

Defaults by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant (each, an "Event of Default"): (a) If Tenant shall fail fails to timely pay any the Rent or make any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease as and when due; (b) If Tenant (i) abandons the Premises or (ii) enters into any assignment or sublease transaction in violation of the terms of this Lease; (c) If Tenant fails to observe or perform the provisions of Articles 3 ("Use of Premises") and/or 9 ("Alterations") and/or 11 ("Insurance") and such failure continues for which a period for payment 24 hours after notice shall thereof from Landlord to Tenant; (d) If Tenant fails to provide estoppel certificates, or other certificates as herein provided, and such failure continues for three business days after notice to Tenant following expiration of the 10-day period provided herein for the delivery of such certificates; (e) If Tenant fails to observe or perform any other provision of this Lease including the Exhibits hereto, including the Rules and Regulations, to be observed or performed by Tenant, and such failure continues for 15 days after notice thereof by Landlord to Tenant; provided, however, that if the nature of such failure is such that it cannot reasonably be set forth in this Leasecured within such 15-day period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period thirty to completion; (30f) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain If any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted action is taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or (d) an the same is dismissed within 90 days); if Tenant makes any general assignment shall be made by Tenant for the benefit of creditors; if a trustee or receiver is appointed to take possession of all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within 30 days; or if all or any portion of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease is attached, executed upon, or otherwise judicially seized and such seizure is not discharged within 30 days; (eg) If Tenant shall breach fails to vacate and surrender the Premises as required by this Lease upon the expiration of the Term or fail sooner termination of this Lease; (h) If Tenant submits to perform Landlord any other term materially false information on any document required to be given by Tenant to Landlord; and/or (i) If any surety or condition or covenant guarantor of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (fails to comply with all the provisions of the suretyship or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madeguaranty agreement.

Appears in 1 contract

Samples: Office Lease (Lincoln National Corp)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be a default under and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Monthly Rental Installment of Minimum Annual Rent or the Annual Rental Adjustment within ten (10) days after the same shall be due and payable, or any other sum provided amounts due Landlord from Tenant as additional rent or otherwise including any amounts owed by Tenant for Building Non-Standard Work within thirty (30) days after the same shall be due and payable. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payablewritten notice thereof from Landlord; provided, and (ii) as to other payments however, that if the term, condition, covenant or obligation to be made performed by Tenant under this Lease for which a period for payment after notice shall is of such nature that the same cannot reasonably be set forth in this Leaseperformed within such ten-day period, a such default shall not be deemed to have occurred unless been cured if Tenant commences such performance within said ten-day period and thereafter diligently undertakes to complete the same and does so complete the required action within a reasonable time. C. Tenant shall remain unpaid vacate or abandon the Leased Premises for any period, or fail to occupy for a period thirty of ten (3010) days the Leased Premises or any substantial portion thereof. D. A trustee or receiver shall be appointed to take possession of substantially all of Tenant’s assets in, on or about the Leased Premises or of Tenant’s interest in this Lease (and Tenant does not regain possession within sixty (60) days after notice or demand to Tenant,) or (b) such appointment); Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) makes an assignment shall be made by Tenant for the benefit of creditors; or substantially all of Tenant’s assets in, on or about the Leased Premises or Tenant’s interest in this Lease are attached or levied under execution (and Tenant does not discharge the same within sixty (60) days thereafter) E. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant pursuant to any federal or state statute (e) and, with respect to any such petition filed against it, Tenant shall breach fails to secure a stay or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured discharge thereof within thirty sixty (3060) days after written notice thereof from Landlord (or if such default is incapable the filing of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such defaultsame), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.

Appears in 1 contract

Samples: Office Lease (Twin Cities Power Holdings, LLC)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be a default under and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Monthly Rental Installment of Minimum Annual Rent or the Annual Rental Adjustment or any other sum provided for amounts due Landlord from Tenant as additional rent or otherwise within five (5) days after receipt of notice from Landlord that such payment is due or past due; provided, however, that with respect to Monthly Rental Installments, Landlord shall be required to give such notice to Tenant only one time during any twelve (12) month period before Tenant's failure to make such Monthly Rental Installments on a timely basis shall constitute a default hereunder. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease as the same becomes due and payable (provided that (iother than those referenced in subsection 15.01(A) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid hereof) for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or demand obligation to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made performed by Tenant for is of such nature that the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and same cannot reasonably be performed within such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if day period, such default is incapable of being shall be deemed to have been cured in a reasonable manner within thirty (30) days, if Tenant has not commenced to cure the same commences such performance within said thirty (30) day period and thereafter diligently prosecutes undertakes to complete the same and does so complete the required action within a time deemed to completionbe reasonable by Landlord. C. [Intentionally omitted.] D. A trustee or receiver shall be appointed to take possession of substantially all of Tenant's assets in, but on or about the Leased Premises or of Tenant's interest in no event exceeding ninety this Lease (90and Tenant does not regain possession within sixty (60) days after such appointment); Tenant shall make an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the Leased Premises or Tenant's interest in this Lease shall be attached or levied under execution (and Tenant does not discharge the same within sixty (60) days thereafter). E. A petition in bankruptcy, insolvency, or for reorganization or arrangement shall not thereafter cure such default)be filed by or against Tenant pursuant to any federal or state statute (and, then and in with respect to any such event petition filed against it, Tenant shall be in default hereunder. Landlord shall have the duties and obligation fails to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings secure a stay or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten discharge thereof within sixty (1060) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madefiling of the same).

Appears in 1 contract

Samples: Lease Agreement (I Trax Inc)

Defaults by Tenant. If The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant: (a) Tenant shall fail to timely pay any Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made The failure by Tenant under this Lease to pay the rent hereunder as and when due where such failure continues for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand thereof by Landlord to Tenant,) or ; provided, however, that such notice shall be in lieu of and not in addition to any notice required under Mississippi law. (b) Tenant shall fail to maintain any insurance pursuant to The abandonment or vacation of the terms of this Lease, or Premises by Tenant. (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made The failure by Tenant for the benefit of creditors, to observe or (e) Tenant shall breach or fail to perform any other term or condition or covenant provision of this Lease and where such failure shall not be cured within continues for thirty (30) days after written notice thereof from by Landlord (or to Tenant; provided, however, that if the nature of such default is incapable of being such that the same cannot reasonably be cured in a reasonable manner within such thirty (30) daysdays period, Tenant has shall not commenced be deemed to be in default if Tenant shall within such period commence such cure the same within said thirty (30) day period and thereafter diligently prosecutes prosecute the same to completion. (d) Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, but in no event exceeding the case of a petition filed against Tenant, the same is dismissed within ninety (90) days and Tenant shall not thereafter cure such defaultdays), then and in any such event Tenant shall be in default hereunder. Landlord shall have ; the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default making by Tenant in so doing, Landlord shall have of any general assignment for the right to recover possession by summary proceedings or otherwise and to apply for benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant’s interest in this Lease, where possession is not restored to Tenant within ninety (90) days; or the attachment, execution, or other judicial seizure of all or any portion of Tenant’s interest in this Lease, where such seizure is not discharged within ninety (90) days. (e) Tenant’s failure to vacate and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy surrender the Premises, Premises as if required by this Lease had never been madeupon the expiration of the Term or termination of this Lease.

Appears in 1 contract

Samples: Lease Agreement With Option to Purchase (Full House Resorts Inc)

Defaults by Tenant. If (a) Tenant A. The occurrence of any of the following shall fail to timely pay any Rent or any other sum provided for under constitute a material default and breach of this Lease as the same becomes due and payable (provided that by Tenant: (i) as Any failure by Tenant to pay all or any portion of the Rental Amount or any rental or make any other payment of Base Rent, a default shall not required to be deemed to have occurred unless the same shall remain unpaid for a period of made by Tenant hereunder within ten (10) days after it shall have become due and payable, and such payment is due. (ii) as A failure by Tenant to observe and perform any other payments material provision of this Lease to be made observed or performed by Tenant under this Lease the Tenant, where such failure continues for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty ten (3010) days after written notice or demand thereof by Landlord to Tenant,, except that this ten (10) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings day period shall be instituted by or against extended for a reasonable period of time if the alleged default is not reasonably capable of cure within said ten (10) day period and Tenant proceeds to diligently cure the default; or (iii) Subject to Tenant's rights under the applicable law then in effect, or (d) an assignment shall be made the making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (eunless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days), the appointment of a trustee or receiver to take possession that is not restored to Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) days, Tenant has or the attachment, execution or other judicial seizure that is not commenced to cure the same discharged within said thirty (30) day period and thereafter diligently prosecutes days. B. Upon the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such occurrence of any of the foregoing events of default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right option to recover pursue any one or more of the following remedies without any notice or demand whatsoever. (i) Subject to Tenant's rights under the applicable law then in effect, terminate this Lease, in which event Tenant shall immediately surrender the Demised Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which Landlord may have for possession or arrearages in rent hereunder, enter upon and take possession of the Demised premises and expel Tenant and any other person who may be occupying said Demised premises or any part thereof, by summary proceedings force if necessary, without being liable for prosecution of any claims or otherwise damage therefor, and Tenant agrees to apply pay to Landlord on demand the amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to relet the Demised Premises on terms similar to those of this Lease or otherwise; (ii) Subject to Tenants rights under the applicable law then in effect, with or without terminating the Lease, enter the Demised Premises as the agent of Tenant, by force if necessary, without being liable to prosecution or any claim for damages therefor, and relet the appointment Demised premises as the agent of a receiver Tenant, and receive rentals therefor, and Tenant shall pay to Landlord any deficiency that may arise by reason of such reletting, inclusive of costs and expenses (including reasonable attorneys' fees and brokerage commissions and costs to improve the Demised Premises for other ancillary relief such reletting), on demand at any time and from time to time; (iii) Subject to Tenant's rights under the applicable law then in effect, with or without terminating the Lease, enter upon the Demised Premises by force if necessary without being liable for prosecution of any claim for damages therefor, and do whatever Tenant is obligated to do under the terms of this Lease; and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in thus effecting compliance with Tenant's obligations under this Lease, with interest at 18% per annum, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant from such action, ; and (iv) All remedies provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and to Landlord shall again have and enjoy under the Premises, as if this Lease had never been madeapplicable law.

Appears in 1 contract

Samples: Lease Agreement (Smart Choice Automotive Group Inc)

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute a material default and breach of this Lease by Tenant. The failure by Tenant shall fail to timely pay any Rent the rent or make any other sum payment required to be made by Tenant hereunder as and when due where such failure continues for five (5) business days after notice thereof by Landlord to Tenant, provided however, that such notice shall be in lieu of and not in addition to any notice required under Nevada law. a. The abandonment or vacation of the Premises by Tenant. b. The failure by Tenant to observe or perform the provisions of Articles 2 and 6 where such failure continues and is not remedied within forty-eight (48) hours after notice thereof from Landlord to Tenant. c. The failure by Tenant to provide estoppel certificates as herein provided. d. The failure by Tenant to observe or perform any other provision of this Lease, including Rules and Regulations which may be adopted by Landlord where such failure continues for under this Lease as twenty (20) days after notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same becomes due and payable cannot reasonably be cured within such twenty (provided that (i20) as to the payment of Base Rentday period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted completion. e. Any action taken by or against Tenant pursuant to any statute pertaining to bankruptcy or insolvency or the reorganization of Tenant (unless, in the case of a petition filed against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default same is incapable of being cured in a reasonable manner dismissed within thirty (30) days); the making by Tenant of any general assignment for the benefit of creditors; the appointment of a trustee or receiver to take possession of all or any portion of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes days; or the same attachment, execution, or other judicial seizure of all or any portion of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. f. Tenant shall fail to completion, but in no event exceeding ninety occupy the Premises within sixty (9060) days after the Commencement Date. g. In addition to the events constituting a default and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have breach of the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default Lease by Tenant in so doingas set forth herein, Landlord shall have if within any twelve (12) month period during the right to recover possession by summary proceedings or otherwise and to apply for term of the appointment of a receiver and for other ancillary relief in such action, provided that Lease Tenant shall have ten failed to perform any obligation required of Tenant hereunder, or has been in breach for any reason under the Lease more than two (102) days written times, and Landlord, because of any such failure and/or breach, shall have served upon Tenant within said twelve (12) month period two (2) or more notices of any such failure or breach, then any subsequent failure or breach shall be deemed a non-curable default, without requirement of notice after such application may have been filed and before any hearing thereon or opportunity to cure, and Landlord shall again have be immediately entitled to exercise any and enjoy all rights, remedies and/or elections specified below otherwise available at law or in equity. h. Tenant's failure to vacate and surrender the Premises, Premises as if required by this Lease had never been madeupon the expiration of the Term or termination of this Lease.

Appears in 1 contract

Samples: Lease Agreement (CLS Holdings USA, Inc.)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be a default under and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Monthly Rental Installment of Minimum Annual Rent or the Annual Rental Adjustment or any other sum provided for amounts due Landlord from Tenant as additional rent or otherwise within five (5) days after such payment is due. In the event of a default under subparagraph A. above, Landlord shall provide Tenant with written notice of such default two (2) times during each successive twelve (12) month period of the Lease Term and Tenant shall have an additional five (5) days to cure such default before Landlord shall declare a default or exercise its remedies herein. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease as for a period of thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or obligation to be performed by Tenant is of such nature that the same becomes due and payable (provided that (i) as to the payment of Base Rentcannot reasonably be performed within such thirty-day period, a such default shall not be deemed to have occurred unless been cured if Tenant commences such performance within said thirty-day period and thereafter diligently undertakes to complete the same and does so complete the required action within a reasonable time. C. Tenant shall remain unpaid fail to provide written notice to Landlord of its intent to vacate or abandon the Leased Premises or any substantial part thereof at least thirty (30) days prior to such vacation or abandonment for any period. Vacation or abandonment shall mean Tenant's absence from and failure to occupy the Leased Premises or any substantial portion thereof for a period of ten (10) days after it days. D. A trustee or receiver shall have become due and payablebe appointed to take possession of substantially all of Tenant's assets in, and (ii) as to other payments to be made by Tenant under on or about the Leased Premises or of Tenant's interest in this Lease for which a period for payment after notice shall (and Tenant does not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty regain possession within sixty (3060) days after notice or demand to Tenant,) or (b) such appointment); Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) makes an assignment shall be made by Tenant for the benefit of creditors; or substantially all of Tenant's assets in, on or about the Leased Premises or Tenant's interest in this Lease are attached or levied under execution (and Tenant does not discharge the same within sixty (60) days thereafter.) E. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant pursuant to any federal or state statute (e) and, with respect to any such petition filed against it, Tenant shall breach fails to secure a stay or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured discharge thereof within thirty sixty (3060) days after written notice thereof from Landlord (or if such default is incapable the filing of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such defaultsame.), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.

Appears in 1 contract

Samples: Lease Agreement (NHP Inc)

Defaults by Tenant. If (a) Tenant A. The occurrence of any of the following shall fail to timely pay any Rent or any other sum provided for under constitute a material default and breach of this Lease as the same becomes due and payable (provided that by Tenant: (i) as Any failure by Tenant to the pay Base Rent or make any other payment of Base Rent, a default shall not required to be deemed to have occurred unless the same shall remain unpaid for a period of made by Tenant hereunder within ten (10) days after it shall have become due and payable, and receipt of written notice from the Landlord; and (ii) as to other payments to be made A failure by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to observe and perform any other term or condition or covenant material provision of this Lease and to be observed or performed by the Tenant, where such failure shall not be cured within continues for thirty (30) days after written notice thereof from by Landlord (or if such default is incapable of being cured in a reasonable manner within to Tenant, except that this thirty (30) days, Tenant has day period shall be extended for a reasonable period of time if the alleged default is not commenced to reasonably capable of cure the same within said thirty (30) day period and thereafter Tenant proceeds to diligently prosecutes cure the same default. B. In the event of any breach of this Lease by Tenant, the Landlord, besides other rights or remedies Landlord may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises; such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant. Should Landlord elect to completionre-enter, but as herein provided, or should he take possession pursuant to legal proceedings, or pursuant to any notice provided for by law, Landlord may either terminate this Lease or Landlord may from time to time, without terminating this Lease, re-let said Premises, or any part thereof, for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other fair market terms and conditions as Landlord in no event exceeding ninety his sole reasonable discretion may deem advisable. Upon each such re-letting (90a) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be immediately liable to pay to Landlord, in default addition to any indebtedness other than rent due hereunder, the reasonable cost and expenses of such re-letting, and the present value (using an 8.5% discount rate) of the amount, if any, by which the rent reserved in this Lease for the period of such reletting (up to but not beyond the term of this Lease) exceed the amount agreed to be paid as rent for the demised Premises for such period on such re-letting; or (b) at the option of Landlord rents received by such Landlord from such re-letting shall be applied; first, to the payment of any indebtedness, other than rent due hereunder from Tenant to Landlord; second, to the payment of any reasonable costs and expenses of such re-letting; third, to the payment of rent due and unpaid hereunder and the residue, if any, shall be held by the Landlord and applied in payment of future rent as the same may become due and payable hereunder. If Tenant has been credited any amount of the rent to be received by such re-letting under option (a), and such rent shall not be promptly paid to Landlord by the new Tenant, or, if such rentals received from such re-letting under option (b) during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such re-entry or taking possession of said Premises by Landlord shall have be construed as an election on his part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon termination thereof be decreed by a Court of competent jurisdiction. Notwithstanding any default by Tenant in so doingsuch re-letting without termination, Landlord shall have may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedy he may have, he may recover from Tenant all damages he may incur by reason of such breach, including the right to recover possession by summary proceedings or otherwise and to apply for the appointment cost of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy recovering the Premises, as and including the present value (using an 8.5% discount rate) of the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease had never been madefor the remainder of the stated term over the then reasonable rental value of the Premises for the remainder of the stated term, all of which amounts shall immediately be due and payable from Tenant to Landlord.

Appears in 1 contract

Samples: Lease (MST Enterprises Inc)

Defaults by Tenant. If (aIt shall be an event of default under this Lease if any one or more of the following events occurs: i) Tenant shall fail fails to timely pay in full, when due, any and all installments of Fixed Basic Rent or Additional Rent or any other sum provided for charges or payments due and payable under this Lease whether or not herein included as rent and the same becomes due and payable continuance of such failure for five (provided that (i5) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days Business Days after it shall have become due and payable, and (written notice from Landlord. ii) as Tenant violates or fails to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth perform or otherwise breaches any agreement, term, covenant or condition contained in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and where such failure shall not be cured within thirty (30) continues for 30 days after written notice thereof from Landlord (or to Tenant, provided, however, that if such the nature of the default is incapable of being such that the same cannot reasonably be cured in a reasonable manner within thirty (30) dayssuch 30 day period, Tenant has shall not commenced be deemed to be in default if Tenant shall within such period commence such cure the same within said thirty (30) day period and thereafter diligently prosecutes prosecute the same to completion. iii) Tenant abandons or vacates the Premises without notice and discontinues payment of Fixed Basic Rent, but in no event exceeding ninety (90Additional Rent and other charges that have become due as well as all which will become due thereafter through the end of the Term. iv) days and Tenant shall not thereafter cure such default), then and becomes insolvent or bankrupt in any such event Tenant shall be sense or makes an assignment for the benefit of creditors or if a petition in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon bankruptcy or for reorganization or for an arrangement with creditors under any default federal or state law is filed by Tenant or against Tenant, or a xxxx in so doing, Landlord shall have the right to recover possession by summary proceedings equity or otherwise and to apply other proceeding for the appointment of a receiver and or similar official for other ancillary relief in such actionany of Tenant’s assets is commenced, provided that or if any of the real or personal property of Tenant shall have ten be levied upon by any sheriff, marshal or constable; provided, however, that any proceeding brought by anyone other than Tenant under any bankruptcy, reorganization arrangement, insolvency, readjustment, receivership or similar law shall not constitute an event of default until such proceeding, decree, judgment or order has continued unstayed for more than sixty (1060) days written notice after such application may have been filed and before consecutive days. v) Any of the events enumerated in subsections (a)(i) through (a)(iv) of this Section happen to any hearing thereon and Landlord shall again have and enjoy the Premises, as if guarantor of this Lease had never been madeLease.

Appears in 1 contract

Samples: Office Lease (Icon PLC /Adr/)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be an "Event of Default" under and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Monthly Rental Installment of Minimum Annual Rent or the Annual Rental Adjustment within five (5) days after the same shall be due and payable, or any other sum provided for amounts due Landlord from Tenant as additional rent or otherwise including any amounts owed by Tenant hereunder (hereinafter referred to together as "Rent"). Landlord shall provide Tenant with a written courtesy notice of such failure to pay and Tenant shall have an additional five (5) days to cure such failure to pay before Tenant is in default and Landlord exercises its default remedies; provided, however, that Landlord shall not be required to give such courtesy notice more than one (1) time with respect to any particular failure to pay, nor more than two (2) times in any consecutive twelve (12) month period with respect to any failure to pay in the aggregate. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease as the same becomes due and payable (provided that (i) as to other than the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid ) for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or demand obligation to Tenant,) or (b) be performed by Tenant shall fail to maintain any insurance pursuant to is of such nature that the terms of this Leasesame cannot reasonably be performed within such thirty-day period, or (c) bankruptcy or other insolvency proceedings such default shall be instituted by deemed to have been cured if Tenant commences such performance within said thirty-day period and thereafter diligently undertakes to complete the same and does so complete the required action within a reasonable time. C. A trustee or against receiver shall be appointed to take possession of substantially all of Tenant's assets in, on or about the Leased Premises or of Tenant's interest in this Lease (dand Tenant does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment shall be made by Tenant for the benefit of creditors; or substantially all of Tenant's assets in, on or about the Leased Premises or Tenant's interest in this Lease are attached or levied under execution (and Tenant does not discharge the same within sixty (60) days thereafter). D. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant pursuant to any federal or state statute (e) and, with respect to any such petition filed against it, Tenant shall breach fails to secure a stay or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured discharge thereof within thirty sixty (3060) days after written notice thereof from Landlord (or if such default is incapable the filing of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such defaultsame), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.

Appears in 1 contract

Samples: Office Lease (Baldwin Piano & Organ Co /De/)

Defaults by Tenant. If The occurrence of any one or more of the following events shall constitute a material default and breach (an “Event of Default”) of this Lease by Tenant: (a) The vacating or abandonment of the Premises by Xxxxxx. (b) The occurrence of a material breach of this Lease as specified elsewhere in this Lease. (c) The failure by Tenant shall fail to timely pay make any payment of Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice hereunder, as and when due, where such failure shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid continue for a period thirty of three (303) days after written notice or demand thereof from Landlord to Tenant,) . In the event that Landlord serves Tenant with a Notice to Pay Rent or (b) Tenant shall fail to maintain any insurance Quit pursuant to applicable Unlawful Detainer statutes such Notice to Pay Rent or Quit shall also constitute the terms of notice required by this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or Section 18.1(c). (d) an assignment shall be made The failure by Tenant for the benefit of creditors, to observe or (e) Tenant shall breach or fail to perform any other term of the covenants, conditions or condition or covenant provisions of this Lease to be observed or performed by Tenant, other than described in Sections 18.1(b) and 18.1(c) above, where such failure shall not be cured within continue for a period of thirty (30) days after written notice thereof from Landlord (or to Tenant; provided, however, that if such the nature of Tenant's default is incapable such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commenced such cure within said 30-day period and thereafter diligently prosecutes such cure to completion. (e) The making by Tenant of being cured (i) any general arrangement or assignment for the benefit of creditors; (ii) Tenant becomes a "debtor" as defined in 11 U.S.C. § 101 or any successor statute thereto (unless, in the case of a reasonable manner petition filed against Tenant, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (iv) the attachment, Tenant has execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not commenced to cure the same discharged within said thirty (30) day period days. Provided, however, in the event that any provision of this Section 18.1(e) is contrary to any Applicable Law, such provision shall be of no force or effect. (f) The discovery by Landlord that any financial statement given to Landlord by Xxxxxx, any assignee of Tenant, any subtenant of Tenant, any successor in interest of Tenant or any guarantor of Tenant's obligation hereunder, and thereafter diligently prosecutes the same to completionany of them, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant was materially false. Any notice required under this Section 18.1 shall be in default hereunder. Landlord shall have the duties lieu of, and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon not in addition to, any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings notice required under California Code of Civil Procedure Section 1161 or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madesuccessor law.

Appears in 1 contract

Samples: Lease Agreement

Defaults by Tenant. If (a) 21.1 The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Tenant: 21.1.1 The abandonment of the Premises by Tenant. 21.1.2 The failure by Tenant shall fail to timely pay make any payment of Rent or Expenses or the Concession Advance (as hereinafter defined) or of any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Leasehereunder, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made as and when due. 21.1.3 The failure by Tenant for the benefit of creditors, to observe or (e) Tenant shall breach or fail to perform any other term of the covenants, conditions or condition or covenant provisions of this Lease and to be observed or performed by Tenant, if such failure shall is not be cured within thirty (30) days after written notice thereof from Landlord (or to Tenant; provided, however, that if such the nature of Tenant's default is incapable such that it cannot be cured solely by payment of being cured in a reasonable manner within money and more than thirty (30) daysdays are reasonably required for its cure, then Tenant has shall not commenced be deemed to be in default if Tenant commences such cure within the same within said thirty (30) day period and thereafter diligently prosecutes the same such cure to completion; provided, but in no event exceeding ninety further, that repeated breaches or defaults by Tenant (90more than three (3) days and Tenant shall not thereafter cure such default), then and in any such twelve (12) month period) shall entitle Landlord at its option, to terminate this Lease unless Tenant furnishes Landlord with adequate assurances, in Landlord's sole judgment, against further defaults; and provided, further, that violations by Tenant of the Rules and Regulations described in Article 36 which interfere with the rights of other tenants or which constitute a nuisance or hazard shall be cured by Tenant within forty- eight (48) hours after written notice thereof from Landlord, failing which Landlord may (but need not) cure same, in which event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingpay Landlord, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have within ten (10) days after written notice after thereof by Landlord, the amount expended by Landlord to effect such application cure together with an administrative charge of fifteen percent (15%) of the amount thereof. 21.1.4 The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy [unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days] or, the appointment of a trustee or receiver to take possession of, or the attachment, execution or other judicial seizure of, substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. 21.2 Any notice required or permitted by this Article 21 is intended to satisfy to the maximum extent possible any and all notice requirements imposed by law on Landlord. Landlord may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premisesserve a statutory notice to quit, a statutory notice to pay rent or quit, or a statutory notice of default, as if the case may be, to effect the giving of any notice required by this Lease had never been madeArticle 21.

Appears in 1 contract

Samples: Office Lease (Trimark Holdings Inc)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be a default under and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Monthly Rental Installment of Minimum Annual Rent or the Annual Rental Adjustment within ten (10) days after the same shall be due and payable, or any other sum provided amounts due Landlord from Tenant as additional rent or otherwise including any amounts owed by Tenant for Building Non-Standard Work within thirty (30) days after the same shall be due and payable. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payablenotice thereof from Landlord; provided, and (ii) as to other payments however, that if the term, condition, covenant or obligation to be made performed by Tenant under this Lease for which a period for payment after notice shall is of such nature that the same cannot reasonably be set forth in this Leaseperformed within such ten-day period, a such default shall not be deemed to have occurred unless been cured if Tenant commences such performance within said ten-day period and thereafter diligently undertakes to complete the same and does so complete the required action within a reasonable time. C. Tenant shall remain unpaid vacate or abandon the Leased Premises for any period, or fail to occupy for a period thirty of ten (3010) days the Leased Premises or any substantial portion thereof. D. A trustee or receiver shall be appointed to take possession of substantially all of Tenant's assets in, on or about the Leased Premises or of Tenant's interest in this Lease (and Tenant does not regain possession within sixty (60) days after notice or demand to Tenant,) or (b) such appointment); Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) makes an assignment shall be made by Tenant for the benefit of creditors; or substantially all of Tenant's assets in, on or about the Leased Premises or Tenant's interest in this Lease are attached or levied under execution (and Tenant does not discharge the same within sixty (60) days thereafter) E. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant pursuant to any federal or state statute (e) and, with respect to any such petition filed against it, Tenant shall breach fails to secure a stay or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured discharge thereof within thirty sixty (3060) days after written notice thereof from Landlord (or if such default is incapable the filing of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such defaultsame), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.

Appears in 1 contract

Samples: Office Lease (Twin Cities Power Holdings, LLC)

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute a default and breach of this Lease by Tenant (a "Default"): (i) Tenant shall fail to timely pay when due any Rent installment of rent, or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice shall not be set forth hereunder in this Leasewhole or in part, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and such failure shall continue for five (5) Business Days after written notice thereof by Landlord to Tenant; and/or (ii) A failure by Tenant to observe and perform any other provisions of this Lease to be observed or performed by Tenant, and such failure is not be cured as soon as reasonably practicable and in any event within thirty (30) days after written notice thereof from by Landlord (or to Tenant or, if such default is incapable of being cured in a reasonable manner cure cannot reasonably be accomplished within thirty (30) days, no Default shall occur if Tenant has not commenced to commences such cure the same within said such thirty (30) day period and thereafter diligently prosecutes continues attempts to effectuate such cure to completion; and/or (iii) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same to completion, but in no event exceeding is dismissed within ninety (90) days and days); the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at any one of the Individual Properties or of Tenant's interest in this Lease; where possession is not restored to Tenant shall within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at any one of the Individual Properties or of Tenant's interest in this lease, where such seizure is not thereafter cure such default)discharged within thirty (30) days; and/or (iv) a Change of Control. (b) In the event of any Default by Tenant, then and in addition to any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises other remedies available to Landlord and upon any default by Tenant at law or in so doingequity, Landlord shall have the right immediate option to terminate this Lease and all rights of Tenant hereunder by giving written notice of such intention to terminate. In the event that Landlord shall elect to so terminate this Lease, then Landlord may recover possession from Tenant: (i) The worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus (ii) The worth at the time of award of the amount by summary proceedings which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rent loss which could have been reasonably avoided (as liquidated damages); plus (iii) The worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award exceeds the amount of such rent loss which could be reasonably avoided (as liquidated damages); plus (iv) At Landlord's election, such other amounts in addition to or otherwise in lieu of the foregoing as may be permitted from time to time under applicable law. (c) The term "rent" as used herein shall be deemed to be and to apply for mean the appointment Minimum Annual Rent and all other sums required to be paid by Tenant pursuant to the terms of a receiver this Lease. All such sums, other than the Minimum Annual Rent, shall be computed on the basis of the average monthly amount thereof accruing during the immediately preceding twenty-four (24) month period prior to default, except that if it becomes necessary to compute such rent before such twenty-four (24) month period has occurred, then such rent shall be computed on the basis of the average monthly amount accruing during such shorter period. As used in paragraphs (i) and for other ancillary relief (ii) above, the "worth at the time of award" is computed by allowing interest at the rate of two percent (2%) above the published prime rate of Wachovia Bank, N.A., or its successor, not to exceed the maximum rate of interest allowed by law in the state of New York, and such actioninterest shall be deemed to be additional rent. As used in paragraph (iii) above, provided that Tenant shall have the "worth at the time of award" is computed by discounting such amount at the discount rate of ten percent (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made%).

Appears in 1 contract

Samples: Master Lease (Carmike Cinemas Inc)

Defaults by Tenant. If (a) The occurrence of any of the following shall constitute an "EVENT OF DEFAULT" under this Lease: (i) Tenant shall fail to timely pay default in the payment of any Rent installment of rent, additional rent or any other sum provided for under payment required to be made by Tenant hereunder following the expiration of the five (5) day grace period set forth in Section 4(c) hereof; and/or (ii) The failure by Tenant to observe and perform any other material provision of this Lease as to be observed or performed by Tenant, where such failure continues for 30 days after written notice thereof by Landlord to Tenant; provided however, that if the nature of such default is such that the same becomes due and payable (provided that (i) as to the payment of Base Rentcannot reasonably be cured within such 30-day period, a default Tenant shall not be deemed to have occurred unless be in default if Tenant shall, within such period, commence such cure and thereafter diligently prosecute the same shall remain unpaid for a period of ten (10) to completion within 90 days after it shall have become due and payable, and Landlord's notice (ii) as except with respect to other payments to be made any default by Tenant in connection with the Tenant's obligations under this Lease for which a period for payment after notice shall not be set forth in Section 24 hereof); and/or (iii) The making by Tenant (or any guarantor of Tenant with respect to this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain of any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an general assignment shall be made by Tenant for the benefit of creditors; the filing by or against Tenant (or any guarantor of Tenant with respect to this Lease) of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within 90 days); the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within 30 days; or the attachment, execution or other judicial seizure or non-judicial repossession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure or repossession, as the case may be, is not discharged within 30 days; or any Tenant, guarantor of Tenant, subtenant or assignee with respect to this Lease shall die or, in the case of corporations, shall have its corporate existence terminated. (eb) Tenant shall breach or fail In the event of any such default by Tenant, then in addition to perform any other term remedies available to Landlord hereunder and at law or condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if such default is incapable of being cured in a reasonable manner within thirty (30) daysequity, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties immediate option to terminate this Lease and obligation all rights of Tenant hereunder by giving written notice of such intention to terminate. (c) In the event of any such default by Tenant, with or without terminating this Lease, Landlord shall also have the right to re-enter the Premises and remove all persons and property from the Premises. Such property may be removed and stored elsewhere at the cost of and for the account of Tenant. In the event Tenant shall vacate or abandon the Premises and fail to make timely payments of Rent, Tenant shall be deemed to have granted Landlord a security interest in all furniture, fixtures, equipment, inventory, merchandise and other of Tenant's property which remains in the Premises after such vacation or abandonment and Landlord may, at Landlord's election, thereafter deal with such property as provided under the Uniform Commercial Code as adopted within the state in which the Premises is located. (d) Landlord may from time to time, without terminating this Lease, either recover all rental as it becomes due or relet the Premises or any parts thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises. (e) Both Landlord and Tenant shall each use commercially reasonable efforts to mitigate said damage and Tenant any damages resulting from an Event of Default. Landlord's obligation to mitigate damages after an Event of Default shall surrender and deliver up be satisfied in full if Landlord undertakes to lease the Premises to another tenant (a "SUBSTITUTE TENANT") in accordance with the following criteria: (i) Landlord shall have no obligation to solicit or entertain negotiations with any other prospective tenants for the Premises until Landlord obtains full and complete possession of the Premises including, without limitation, the final and unappealable legal right to relet the Premises free of any claim of Tenant; (ii) Landlord shall not be obligated to lease the Premises to a Substitute Tenant for a rental less than the current fair market rental then prevailing for similar uses in comparable properties in the same market area as the Premises, nor shall Landlord be obligated to enter into a new lease under other terms and conditions that are unacceptable to Landlord; and (iii) Landlord shall not be obligated to enter into a lease with any proposed Substitute Tenant which does not have, in Landlord's reasonable opinion, sufficient financial resources. Should Landlord elect to so relet, then rentals received by Landlord from such reletting shall be applied; first, to the payment of the entire costs associated with such reletting; second, to the payment of the cost of any alterations and repairs to the Premises deemed necessary by Landlord; third, to the payment of rent and additional rent due and unpaid hereunder; fourth, the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; and the residue, if any, shall be held by Landlord and upon applied in payment of future rent and additional rent as the same may become due and payable hereunder. Should that portion of such rentals received from such reletting during any month, which is applied to the payment of rent hereunder, be less than the rent payable during that month by Tenant hereunder, then Tenant shall pay such deficiency to Landlord within 10 days after Landlord shall bill Tenant for same. Tenant shall also pay to Landlord, as soon as xxxxrtained, any costs and expense incurred by Landlord in such reletting or in making such alterations and repairs not covered by the rentals received from such reletting of the Premises. (f) No re-entry or taking possession of the Premises by Landlord pursuant to paragraphs (c) or (d) of this Article shall be construed as either an acceptance of surrender or an election to terminate this Lease, nor shall it cause a forfeiture of Rents or other charges remaining to be paid during the balance of the Term, unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any reletting without termination by Landlord because of any default by Tenant, Landlord may at any time after such default elect to terminate this Lease. (g) If Landlord elects to terminate this Lease on account of the occurrence of a default by Tenant, Tenant will remain liable to Landlord for damages in an amount equal to monthly Base Rent and other amounts which would have been owing by Tenant for the balance of the Term, had this Lease not been terminated, less the net proceeds, if any, of any reletting of the Premises by Landlord subsequent to such termination, after deducting all of Landlord's expenses in connection with such reletting. Landlord will be entitled to collect such damages from Tenant monthly on the day on which monthly rent and other amounts would have been payable under this Lease if this Lease had not been terminated, and Landlord will be entitled to receive such monthly rent and other amounts from Tenant on each such day. Alternatively, at the option of Landlord, in the event this Lease is so terminated, Landlord will be entitled to recover against Tenant as damages for loss of the bargain and not as a penalty: (i) The worth at the time of award of the unpaid rent which had been earned at the time of termination; (ii) The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; (iii) The worth at the time of award of the amount by which the unpaid rent for the balance of the Term (had the same not been so terminated by Landlord) after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; and (iv) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease. The "WORTH AT THE TIME OF AWARD" of the amounts referred to in clauses (i) and (ii) above is computed by adding interest at the per annum interest rate described in subsection (g) below on the date on which this Lease is terminated from the date of termination until the time of the award. The worth at the time of award of the amount referred to in clause (iii) above is computed by discounting such amount at the discount rate of the Federal Reserve Bank, at the time of award plus one percent (1%). (h) All amounts due to Landlord pursuant to this Lease that are not paid when due shall bear interest at the lesser of ten percent (10%) per annum or the maximum rate permitted by applicable law. Payment of such interest shall not excuse or cure any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if under this Lease had never been madeLease.

Appears in 1 contract

Samples: Lease Agreement (Source Interlink Companies Inc)

Defaults by Tenant. If The occurrence of any one or more of the following events shall constitute a material default and breach (an “Event of Default”) of this Lease by Tenant: (a) The vacating or abandonment of the Premises by Xxxxxx. (b) An act or failure to act which is identified in this Lease as material breach of this Lease, including a failure of Tenant shall fail to timely pay execute any documents referenced in Article 21 within the time periods set forth therein if the failure continues for a period of fifteen (15) days after Xxxxxx’s receipt from Landlord of a written notice of such failure delivered following the expiration of the applicable time periods set forth in Article 21. (c) The failure by Tenant to make any payment of Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of ten (10) days after it shall have become due and payable, and (ii) as to other payments required to be made by Tenant under this Lease for which a period for payment after notice hereunder, as and when due, where such failure shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid continue for a period thirty of three (303) days after written notice or demand thereof from Landlord to Tenant,) . In the event that Landlord serves Tenant with a Notice to Pay Rent or (b) Tenant shall fail to maintain any insurance Quit pursuant to applicable Unlawful Detainer statutes such Notice to Pay Rent or Quit shall also constitute the terms of notice required by this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or Section 18.1(c). (d) an assignment shall be made The failure by Tenant for the benefit of creditors, to observe or (e) Tenant shall breach or fail to perform any other term of the covenants, conditions or condition or covenant provisions of this Lease to be observed or performed by Tenant, other than described in Sections 18.1(b) and 18.1(c) above, where such failure shall not be cured within continue for a period of thirty (30) days after written notice thereof from Landlord (or to Tenant; provided, however, that if such the nature of Tenant’s default is incapable such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commenced such cure within said 30-day period and thereafter diligently prosecutes such cure to completion. (e) The making by Tenant of being cured (i) any general arrangement or assignment for the benefit of creditors; (ii) Tenant becomes a “debtor” as defined in 11 U.S.C. § 101 or any successor statute thereto (unless, in the case of a reasonable manner petition filed against Tenant, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days, provided, however, in the event that any provision of this Section 18.1(e) is contrary to any Applicable Law, such provision shall be of no force or effect. (f) The discovery by Landlord that any written report or any financial statement given to Landlord by Xxxxxx, any assignee of Tenant, any subtenant of Tenant, any successor in interest of Tenant has not commenced to cure the same within said thirty (30) day period or any guarantor of Tenant’s obligation hereunder, and thereafter diligently prosecutes the same to completionany of them, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such default), then and in any such event Tenant was materially or intentionally false or misleading. Any notice required under this Section 18.1 shall be in default hereunder. Landlord shall have the duties lieu of, and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon not in addition to, any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings notice required under California Code of Civil Procedure Section 1161 or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madesuccessor law.

Appears in 1 contract

Samples: Retail Lease

Defaults by Tenant. If (a) Tenant A. The occurrence of any of the following shall fail to timely pay any Rent or any other sum provided for under constitute a material default and breach of this Lease as the same becomes due and payable (provided that by Tenant: (i) as Any failure by Tenant to pay the rental or make any other payment of Base Rent, a default shall not required to be deemed to have occurred unless the same shall remain unpaid for a period of made by Tenant hereunder within ten (10) days after it shall have become due and payable, and receipt of written notice from the Landlord. (ii) as to other payments to be made A failure by Tenant under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period thirty (30) days after notice or demand to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made by Tenant for the benefit of creditors, or (e) Tenant shall breach or fail to observe and perform any other term or condition or covenant material provision of this Lease and to be observed or performed by the Tenant, where such failure shall not be cured within continues for thirty (30) days after written notice thereof from by Landlord (or if such default is incapable of being cured in a reasonable manner within to Tenant, except that this thirty (30) days, Tenant has day period shall be extended for a reasonable period of time if the alleged default is not commenced to reasonably capable of cure the same within said thirty (30) day period and thereafter Tenant proceeds to diligently prosecutes cure the default. (iii) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt, or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days); the appointment of a trustee or receiver to completiontake possession that is not restored to Tenant within thirty (30) days, but or the attachment, execution or other judicial seizure that is not discharged within thirty (30) days. B. In the event of any such default by Tenant, thereupon at the option of Landlord, this Lease shall be terminated and become absolutely void without any right on the part of Tenant to reinstate the Lease by the payment of any sum due or by other performance of any condition, term or covenant broken, whereupon Landlord shall be entitled to recover damages for such breach in no event exceeding ninety (90) days and an amount equal to the present value of the amount of rent reserved for the balance of the term of this Lease less the fair rental value of the Demised Premises for the remainder of the term, except that if Tenant shall not thereafter cure such default)continue to pay Landlord on a monthly basis all rentals and charges due hereunder, then and in any such event Tenant shall be in default hereunder. Landlord shall not have the duties and obligation right to use commercially reasonable efforts terminate this Lease. In the alternative, if Landlord elects to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doingnot terminate this Lease, Landlord shall have the right to recover possession xxx Tenant for rents and other charges due hereunder as and when the same become payable under this Lease, without the right to accelerate rents. C. In the event of default as above set forth, Landlord, or anyone acting on Landlord's behalf, at Landlord's option: (i) May rent the Demised Premises or any part thereof to such person or persons as Landlord may determine in its sole discretion, and Tenant shall be liable for the loss of rent for the balance of the then current term. Any such re-entry or re-letting by summary proceedings Landlord under the terms hereof shall be without prejudice to Landlord's claim for actual damages and shall under no circumstances release Tenant from liability for such damages arising out of the breach of any of the covenants, terms and conditions of this Lease; (ii) May have and exercise any and all other rights and/or remedies granted or allowed landlords by any existing or future statute, act or other law of this state in cases where a landlord seeks to enforce rights arising out of a lease agreement against a tenant who has defaulted or otherwise and breached the terms of such lease agreement, subject, however, to apply all other rights granted or created by any such statute, act or other law of its state existing for the appointment protection and benefit of such tenants and subject to the terms of this Lease to the contrary; and (iii) May have and exercise any and all other rights and remedies to which Landlord may be entitled at law or in equity, subject to the terms of this Lease to the contrary. D. If Landlord obtains possession of the Demised Premises as a result of the Tenant's abandonment of same or by a decree from a court of competent jurisdiction, this shall not be construed as an election to terminate this Lease unless Landlord provides Tenant with a written notice of this election. E. Notwithstanding anything herein to the contrary, in the event of a receiver and for other ancillary relief in such action, provided that default by Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy terminates this Lease or Tenant's right to possession of the Demised Premises, as if this Lease had never been madeLandlord shall use reasonable efforts to re-let the Demised Premises.

Appears in 1 contract

Samples: Lease Agreement (Penn National Gaming Inc)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be a default under and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Monthly Rental Installment of Minimum Annual Rent within five (5) days after such payment is due, or Tenant shall fail to pay the Annual Rental Adjustment or any other sum provided for under this Lease amounts due Landlord from Tenant as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of additional rent or otherwise within ten (10) days after it such payment has not been made. B. Tenant shall have become due and payablefail to perform or observe any term, and (ii) as to other payments condition, covenant or obligation required to be made performed or observed by Tenant it under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or demand obligation to Tenant,) or (b) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (c) bankruptcy or other insolvency proceedings shall be instituted by or against Tenant, or (d) an assignment shall be made performed by Tenant for is of such nature that the benefit of creditors, or (e) Tenant shall breach or fail to perform any other term or condition or covenant of this Lease and same cannot reasonably be performed within such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or if day period, such default is incapable of being shall be deemed to have been cured in a reasonable manner within thirty (30) days, if Tenant has not commenced to cure the same commences such performance within said thirty (30) day period and thereafter diligently prosecutes undertakes to complete the same and does so complete the required action within a time deemed to completionbe reasonable by Landlord. C. Tenant shall vacate or abandon the Leased Premises for any period, but in no event exceeding ninety or fail to occupy for a period of thirty consecutive (9030) days the Leased Premises or any substantial portion thereof except as provided in Article 8. D. A trustee or receiver shall be appointed to take possession of substantially all of Tenant"s assets in, on or about the Leased Premises or of Tenant"s interest in this Lease (and Tenant does not regain possession within sixty (60) days after such appointment); Tenant shall make an assignment for the benefit of creditors; or substantially all of Tenant"s assets in, on or about the Leased Premises or Tenant"s interest in this Lease shall be attached or levied under execution (and Tenant does not thereafter cure such defaultdischarge the same within sixty (60) days thereafter). E. A petition in bankruptcy, then and in insolvency, or for reorganization or arrangement shall be filed by or against Tenant pursuant to any federal or state statute (and, with respect to any such event petition filed against it, Tenant shall be in default hereunder. Landlord shall have the duties and obligation fails to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings secure a stay or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten discharge thereof within sixty (1060) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been madefiling of the same).

Appears in 1 contract

Samples: Lease Agreement (Amsurg Corp)

Defaults by Tenant. If (a) The occurrence of any one or more of the following events shall be a default under and breach of this Lease by Tenant: A. Tenant shall fail to timely pay any Monthly Rental Installment of Minimum Annual Rent or any other sum provided for under this Lease as the same becomes due and payable (provided that (i) as to the payment of Base Rent, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of Annual Rental Adjustment within ten (10) days after it the same shall have become be due and payable, or any other amounts due Landlord from Tenant as additional rent or otherwise including any amounts owed by Tenant for tenant finish improvements within thirty (30) days after the same shall be due and payable. In the event of a default under subparagraph (iiA) as above, Landlord shall provide Tenant with written notice of such default two (2) times during each successive twelve (12) month period of the Lease Term and Tenant shall have an additional five (5) days to other payments cure such default before Landlord shall declare a default or exercise its remedies herein. B. Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be made performed or observed by Tenant it under this Lease for which a period for payment after notice shall not be set forth in this Lease, a default shall not be deemed to have occurred unless the same shall remain unpaid for a period of thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or demand obligation to Tenant,) or (b) be performed by Tenant shall fail to maintain any insurance pursuant to is of such nature that the terms of this Leasesame cannot reasonably be performed within such thirty-day period, or (c) bankruptcy or other insolvency proceedings such default shall be instituted by deemed to have been cured if Tenant commences such performance within said thirty-day period and thereafter diligently undertakes to complete the same and does so complete the required action within a reasonable time. C. A trustee or against receiver shall be appointed to take possession of substantially all of Tenant's assets in, on or about the Leased Premises or of Tenant's interest in this Lease (dand Tenant does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment shall be made by Tenant for the benefit of creditors; or substantially all of Tenant's assets in, on or about the Leased Premises or Tenant's interest in this Lease are attached or levied under execution (and Tenant does not discharge the same within sixty (60) days thereafter). D. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant pursuant to any federal or state statute (e) and, with respect to any such petition filed against it, Tenant shall breach fails to secure a stay or fail to perform any other term or condition or covenant of this Lease and such failure shall not be cured discharge thereof within thirty sixty (3060) days after written notice thereof from Landlord (or if such default is incapable the filing of being cured in a reasonable manner within thirty (30) days, Tenant has not commenced to cure the same within said thirty (30) day period and thereafter diligently prosecutes the same to completion, but in no event exceeding ninety (90) days and Tenant shall not thereafter cure such defaultsame), then and in any such event Tenant shall be in default hereunder. Landlord shall have the duties and obligation to use commercially reasonable efforts to mitigate said damage and Tenant shall surrender and deliver up the Premises to Landlord and upon any default by Tenant in so doing, Landlord shall have the right to recover possession by summary proceedings or otherwise and to apply for the appointment of a receiver and for other ancillary relief in such action, provided that Tenant shall have ten (10) days written notice after such application may have been filed and before any hearing thereon and Landlord shall again have and enjoy the Premises, as if this Lease had never been made.

Appears in 1 contract

Samples: Lease Agreement (Software Artistry Inc)

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