Common use of Defaults, Conditional Limitation Clause in Contracts

Defaults, Conditional Limitation. (a) Each of the following events shall constitute a Default: (i) If Tenant, or any Tenant’s Guarantor, shall (x) make an assignment for the benefit of creditors, (y) file or acquiesce to a petition in any court (whether or not pursuant to any statute of the United States or of any state) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, (z) make an application in any such proceedings for or acquiesce to the appointment of a trustee or receiver for it or all of any portion of its property. (ii) If any petition shall be filed against Tenant, or any Tenant’s Guarantor, to which neither of them acquiesce in any court (whether or not pursuant to any statute of the United States or any state) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and (x) Tenant or any Tenant’s Guarantor shall thereafter be adjudicated a bankrupt, or (y) such petition shall be approved by any such court, or (z) such proceedings shall not be dismissed, discontinued or vacated within thirty (30) days. (iii) If, in any proceeding, pursuant to the application of any person other than Tenant, or any Tenant’s Guarantor to which neither of them acquiesce, a receiver or trustee shall be appointed for Tenant, or any Tenant’s Guarantor or for all or any portion of the property of either and such receivership or trusteeship shall not be set aside within thirty (30) days after such appointment. (iv) If Tenant shall refuse to take possession of the Demised Premises upon the Commencement Date or shall vacate the Demised Premises and permit the same to remain unoccupied, unattended or not continuously operated. (v) If Tenant is a corporation, or other entity and any part or all of its shares of stock or ownership of such entity shall be transferred by sale, assignment, operation of law or other disposition so as to result in a change in the present effective voting control of Tenant by the person owning a majority of the shares of stock or ownership interest on the date of this Lease. (vi) If Tenant shall fail to pay any Rent, additional rent or any other charge required to be paid by Tenant hereunder, when the same shall become due and payable, and such failure shall continue for ten (10) days after Landlord shall give notice of the failure to Tenant. (vii) If Tenant shall fail to perform or observe any other requirement of this Lease to be performed or observed by Tenant but not specifically referred to in this Section, and such failure shall continue for twenty (20) days after Landlord shall give notice of the failure to Tenant, provided, however, in the case of any default referred to in this subsection (vii) which cannot be cured by the payment of money and cannot with diligence be cured within such twenty

Defaults, Conditional Limitation. (a) Each of the following events shall constitute a Default: (i) If Tenant, or any Tenant’s 's Guarantor, shall (x) make an assignment for the benefit of creditors, (y) file or acquiesce to a petition in any court (whether or not pursuant to any statute of the United States or of any state) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, (z) make an application in any such proceedings for or acquiesce to the appointment of a trustee or receiver for it or all of any portion of its property. (ii) If any petition shall be filed against Tenant, or any Tenant’s 's Guarantor, to which neither of them acquiesce in any court (whether or not pursuant to any statute of the United States or any state) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and (x) Tenant or any Tenant’s 's Guarantor shall thereafter be adjudicated a bankrupt, or (y) such petition shall be approved by any such court, or (z) W such proceedings shall not be dismissed, discontinued or vacated within thirty (30) days. (iii) If, in any proceeding, pursuant to the application of any person other than Tenant, or any Tenant’s 's Guarantor to which neither of them acquiesce, a receiver or trustee shall be appointed for Tenant, or any Tenant’s 's Guarantor or for all or any portion of the property of either and such receivership or trusteeship shall not be set aside within thirty (30) days after such appointment. (iv) If Tenant shall refuse to take possession of the Demised Premises upon the Commencement Date Delivery of Possession or shall vacate the Demised Premises and permit the same to remain unoccupied, unattended or not continuously operatedunoccupied and unattended. (v) If Tenant is a corporation, or other entity corporation and any part or all of its shares of stock or ownership of such entity shall be transferred by sale, assignment, operation of law or other disposition so as to result in a change in the present effective voting control of Tenant by the person owning a majority of the shares of stock or ownership interest on the date of this Lease; provided that a transfer of such stock in connection with a merger or purchase permitted under Section 10.01(e) shall not constitute a Default. (vi) If Tenant shall fail to pay any Rent, additional rent or any other charge required to be paid by Tenant hereunder, when the same shall become due and payable, and such failure shall continue for ten (10) days after Landlord shall give notice of the failure to Tenant. (vii) If Tenant shall fail to perform or observe any other requirement of this Lease to be performed or observed by Tenant but not specifically referred to in this Section, and such failure shall continue for twenty (20) days after Landlord shall give notice of the failure to Tenant. (b) This Lease is subject to the following limitation: If at any time, provideda Default shall occur, however, in then upon the case happening of any default referred one or more of the aforementioned Defaults, Landlord may give to in Tenant a notice of intention to end the Term of this subsection (vii) which cannot be cured by Lease at the payment expiration of money five days from the date of service of such notice of termination. At the expiration of such five days this Lease and cannot with diligence be cured within the Term as well as all of the right, title and interest of the Tenant hereunder shall wholly cease and expire, and Tenant shall then quit and surrender the Demised Premises to the Landlord. But notwithstanding such twentytermination, surrender, and the expiration of Tenant's right, title, and interest, Tenant's liability under all of the provisions of this Lease shall continue.

Defaults, Conditional Limitation. (a) Each of the following events shall constitute a default under this Lease (each, a “Default:”): (i) If Tenant, or any guarantor of Tenant’s obligations hereunder (any such guarantor, a “Guarantor”), shall shall: (x) make an assignment for the benefit of creditors, ; or (y) file or acquiesce to a petition in any court (whether or not pursuant to any statute of the United States or of any stateState) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, ; or (z) make an application in any such proceedings for or acquiesce to the appointment of a trustee or receiver for it or all of any portion of its property. (ii) If any petition shall be filed against Tenant, or any Tenant’s Guarantor, to which neither of them acquiesce in any court (whether or not pursuant to any statute of the United States or any stateState) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and and: (x) Tenant or any Tenant’s Guarantor shall thereafter be adjudicated a bankrupt;, or (y) such petition shall be approved by any such court, ; or (z) such proceedings shall not be dismissed, discontinued or vacated within thirty ninety (3090) days. (iii) If, in any proceeding, pursuant to the application of any person Person other than Tenant, or any Tenant’s Guarantor to which neither of them acquiesce, a receiver or trustee shall be appointed for Tenant, or any Tenant’s Guarantor or for all or any portion of the property of either and such receivership or trusteeship shall not be set aside within thirty ninety (3090) days after such appointment. (iv) If Tenant shall refuse to take possession of the Demised Premises upon the Commencement Date or shall vacate abandon the Demised Premises and permit the same to remain unoccupied, unattended or not continuously operatedPremises. (v) If Tenant is a corporation, or other entity and any part or all of its shares of stock or ownership of such entity shall be transferred by sale, assignment, operation of law or other disposition so as to result in a change in the present effective voting control of Tenant by the person owning a majority of the shares of stock or ownership interest on the date of this Lease. (vi) If Tenant shall fail to pay any Minimum or Additional Rent (collectively, “Rent”), additional rent or any other charge required to be paid by Tenant hereunder, when the same shall become due and payable, and such failure shall continue for ten (10) days after Landlord shall give notice of failure of Tenant to make such payment on the failure to Tenantdate such Rent was due and payable. (viivi) If Tenant shall fail to perform or observe any other requirement of this Lease to be performed or observed by Tenant but not specifically referred to in this Section, and such failure shall continue for twenty thirty (2030) days after Landlord shall give notice of the failure to Tenant, provided, however, in the case or if such default is of any default referred to in this subsection (vii) which such a nature that it cannot be cured by completely remedied within said period of thirty (30) days and Tenant shall not commence, promptly after receipt of such notice, or shall not thereafter diligently prosecute to completion, all steps necessary to remedy such default. (b) This Lease is subject to the payment following limitation: If at any time, a Default shall occur, then upon the happening of money any one or more of the aforementioned Defaults, Landlord may give to Tenant a notice of intention to end the Term of this Lease at the expiration of five (5) days from the date of service of such notice of termination. At the expiration of such five (5) days, this Lease and cannot with diligence be cured within the Term as well as all of the right, title and interest of Tenant hereunder shall wholly cease and expire, and Tenant shall then quit and surrender the Demised Premises to Landlord. But notwithstanding such twentytermination, surrender, and the expiration of Tenant’s right, title and interest, Tenant’s liability under all of the provisions of this Lease shall continue.

Defaults, Conditional Limitation. (a) Each of the following events shall constitute a Default: (i) If Tenant, or any Tenant’s 's Guarantor, shall (x) make an assignment for the benefit of creditors, (y) file or acquiesce to a petition in any court (whether or not pursuant to any statute of the United States or of any state) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, (z) make an application in any such proceedings for or acquiesce to the appointment of a trustee or receiver for it or all of any portion of its property. (ii) If any petition shall be filed against Tenant, or any Tenant’s 's Guarantor, to which neither of them acquiesce in any court (whether or not pursuant to any statute of the United States or any state) in any bankruptcy, reorganization, composition, extension, arrangement or insolvency proceedings, and (x) Tenant or any Tenant’s 's Guarantor shall thereafter be adjudicated a bankrupt, or (y) such petition shall be approved by any such court, or (z) such proceedings shall not be dismissed, discontinued or vacated within thirty (30) days. (iii) If, in any proceeding, pursuant to the application of any person other than Tenant, or any Tenant’s 's Guarantor to which neither of them acquiesce, a receiver or trustee shall be appointed for Tenant, or any Tenant’s 's Guarantor or for all or any portion of the property of either and such receivership or trusteeship shall not be set aside within thirty (30) days after such appointment. (iv) If Tenant shall refuse to take possession of the Demised Premises upon the Commencement Date Delivery of Possession or shall vacate the Demised Premises and permit the same to remain unoccupied, unattended or not continuously operatedunoccupied and unattended. (v) If Tenant is a corporationshall fail to pay any Rent within ten (10) days of when due, or any other entity and any part or all charge required to be paid by Tenant hereunder within ten (10) days after notice of its shares of stock or ownership of such entity shall be transferred by sale, assignment, operation of law or other disposition so as failure to result in a change in the present effective voting control of Tenant by the person owning a majority of the shares of stock or ownership interest on the date of this Leasepay when due. (vi) If Tenant shall fail to pay perform or observe any Rentterm, additional rent provision or requirement of the Lease or any other charge required to be paid by Tenant hereunder, when the same shall become due and payablecondition or requirement set forth herein, and such failure shall continue for ten sixty (1060) days after Landlord shall give notice of the failure to Tenantnonperformance. (viib) The Lease is subject to the following limitation: If at any time, a Default shall occur, then upon the happening of any one or more of the aforementioned Defaults, Landlord may give to Tenant a notice of intention to end the Term of the Lease at the expiration of five (5) days from the date of service of such notice of termination. At the expiration of such five days the Lease and the Term as well as all of the right, title and interest of the Tenant thereunder shall wholly cease and expire, and Tenant shall fail then quit and surrender the Demised Premises to perform or observe any other requirement of this Lease to be performed or observed by Tenant but not specifically referred to in this Sectionthe Landlord. Notwithstanding such termination, surrender, and such failure shall continue for twenty (20) days after Landlord shall give notice the expiration of Tenant's right, title, and interest, Tenant's liability under all of the failure to Tenant, provided, however, in provisions of the case of any default referred to in this subsection (vii) which cannot be cured by the payment of money and cannot with diligence be cured within such twentyLease shall continue.