Common use of Elements of Default Clause in Contracts

Elements of Default. The occurrence of any one or more of the following events shall constitute a default of this Lease by Tenant: 1. Tenant fails to pay any monthly installment of rent within ten (10) days after the same shall be due and payable, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a default; 2. Tenant fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty (20) 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 cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's notice, but in no event later than forty-five (45) days after Landlord's notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease or abandons the demised premises for a period of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Lease. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's assets in, on or about the demised premises or of Tenant's interest in this Lease (and Tenant or any guarantor of Tenant's obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the demised premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter). 5. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's obligations under this Lease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the same.

Elements of Default. The occurrence of any one or more of the following events shall constitute a default of this Lease by Tenant: 1. Tenant fails to pay any monthly installment of rent within ten (10) days after the same shall be due and payable, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a default; 2. Tenant fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty (20) 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 cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's ’s notice, but in no event later than forty-five (45) days after Landlord's ’s notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease or abandons the demised premises for a period of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Lease. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's ’s assets in, on or about the demised premises Premises or of Tenant's ’s interest in this Lease (and Tenant or any guarantor of Tenant's ’s obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's ’s assets in, on or about the demised premises Premises or Tenant's ’s interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter). 54. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's ’s obligations under this Lease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the same.

Elements of Default. The occurrence of any one or more of the following events shall constitute a default of this Lease by Tenant: 1. Tenant fails to pay any monthly installment of rent within ten (10) days after the same shall be due and payable, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a default; 2. Tenant fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty (20) 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 cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's notice, but in no event later than forty-five (45) days after Landlord's notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease or abandons the demised premises for a period of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Lease. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's assets in, on or about the demised premises Premises or of Tenant's interest in this Lease (and Tenant or any guarantor of Tenant's obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the demised premises Premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter). 54. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's obligations under this Lease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the same.

Elements of Default. The occurrence of any one or more of the following events shall constitute a default of this Lease by Tenant: 1. Tenant fails to pay any monthly installment of rent within ten (10) days after the same shall be due and payable, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a default; 2. Tenant fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty (20) 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 cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's ’s notice, but in no event later than forty-five (45) days after Landlord's ’s notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease or abandons the demised premises for a period of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Lease. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's ’s assets in, on or about the demised premises or of Tenant's ’s interest in this Lease (and Tenant or any guarantor of Tenant's ’s obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's ’s assets in, on or about the demised premises or Tenant's ’s interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter). 5. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's ’s obligations under this Lease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the same.

Elements of Default. The occurrence of If any one or more of the following events occur, said event or events shall constitute hereby be classified as a default "default" as that term is used throughout this Lease: (a)(i) the failure of this Lease by Tenant: 1. Tenant to take possession of the Leased Premises at the Delivery of Possession Date, or (ii) the failure of Tenant to open its doors for business within thirty (30) days after on the date specified in Section I.3 hereof, or (iii) if Tenant vacates or abandons the Leased Premises and permits the same to remain unoccupied and unattended for three (3) days after written or telephone notice, or (iv) if Tenant fails to pay any monthly installment maintain normal inventory levels and employee staff for the conduct of rent its normal business activities in the Leased Premises for three (3) days after written or telephone notice, or (v) the failure of Tenant to operate its business in compliance with Section 4.2 for the purposes specified in Section 4.1 and Tenant fails to cure the same within ten (10) days after written notice, or (vi) in the event of the sale or removal of a substantial portion of Tenant's property located in the Leased Premises in a manner which is outside the ordinary course of Tenant's business; (b) the failure of Tenant to pay any Rent or other charges required to be paid by Tenant when same shall be become due and payable, except payable hereunder and such failure continues for the first two ten (2) times in any consecutive twelve (12) month period, in which event Tenant shall have five (510) days after receipt written notice; (c) the failure of written notice of such failure to pay before such failure shall constitute a default; 2. Tenant fails to perform or observe any term, condition, covenant term or obligation required to be performed or observed by it under condition of this Lease and such failure shall continue for a period of twenty thirty (2030) days after notice thereof from Landlordwritten notice; provided, however, that such period shall be extended for an additional reasonable period if Tenant has diligently commenced the term, condition, covenant or obligation to be performed by Tenant is curing of such nature that default within the thirty (30) days period and is diligently pursuing the same cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's noticecompletion, but in no event later than forty-five (45) days after Landlord's notice. 3. If Tenant refuses to take possession of shall either the demised premises as required pursuant to this Lease or abandons the demised premises for a period of thirty (30) days period or substantially ceases any extension thereof apply to Tenant's covenant to operate its business or to carry on its normal activities in the demised premises as required pursuant to Article IV of this Lease. 4. A trustee , unless the same is excused pursuant to Article IX or receiver is appointed Article X of this Lease; (d) if Tenant shall be given three (3) notices of the same default under subparagraphs (b) or (c) within any period of eighteen (18) months, notwithstanding any subsequent cure of the failure to take possession perform or observe the terms or conditions of substantially all this Lease as identified in such notices; (e) if any writ of execution, levy, attachment or other legal process of law shall occur upon a substantial and material part of Tenant's assets inassets, on merchandise, fixtures, or about Tenant's estate or interest in the demised premises Leased Premises; (f) Tenant shall be liquidated or dissolved or shall begin proceedings toward such liquidation or dissolution, or shall in any manner permit the divestiture of all, or any substantial part of Tenant's interest in this Lease (and Tenant or any guarantor of Tenant's obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the demised premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter)assets. 5. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's obligations under this Lease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the same.

Elements of Default. The occurrence of any one or more of the following events shall constitute a default of this Lease by Tenant: 1. Tenant fails to pay any monthly installment of minimum rent and/or additional rent within ten (10) days after the same shall be due and payablepayable and, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have within five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a defaultthereof; 2. Tenant fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty (20) 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 cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's notice, but in no event later than forty-five (45) days after Landlord's notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease or abandons at the demised premises for a period delivery of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Leasepossession date. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's assets in, on or about the demised premises or of Tenant's interest in this Lease (and Tenant or any guarantor of Tenant's obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the demised premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter). 5. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's obligations under this Lease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the same.

Elements of Default. The occurrence of If any one or more of the following events occur, said event or events shall constitute hereby be classified as a default of this Lease by TenantDefault: 1. Tenant fails to pay any monthly installment of rent within ten (10a) days after the same shall be due and payable, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a default; 2. Tenant fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty (20) 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 cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's notice, but in no event later than forty-five (45) days after Landlord's notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease or abandons the demised premises for a period of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Lease. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's assets in, on or about the demised premises or of Tenant's interest in this Lease (and Tenant or any guarantor of Tenant's obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes hereunder shall make an assignment for the benefit of creditors; creditors or substantially file a petition in any state court in bankruptcy reorganization composition or make an application in any such proceedings for the appointment of a trustee or receiver for all or any portion of its property; (b) if any petition shall be filed under the state law against Tenant or any guarantee of Tenant's assets in, on obligations hereunder in any bankruptcy reorganization or about the demised premises insolvency proceeding and said proceedings shall not be dismissed or Tenant's interest in this Lease are attached or levied upon under execution vacated within thirty (and Tenant does not discharge the same within sixty (6030) days thereafter).after such petition is filed; 5. A petition in bankruptcy, insolvency, (c) if a receiver or trustee shall be appointed under state law for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's obligations under this Lease pursuant to hereunder for all or any Federal portion of the property of either of them and such receivership or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof trusteeship shall not be set aside within sixty thirty (6030) days after the filing such appointment; (d) if Tenant refuses to take possession of the Demised Premises at the Delivery of Possession Date or fails to open its doors for business within thirty (30) days following the Delivery of Possession Date as required herein or vacates the Demised Premises and permits the same to remain unoccupied and unattended; (e) if Tenant is a corporation if any part or all of its stock representing effective voting control of Tenant shall be transferred so as to result in a change in the present effective voting control of Tenant such change is not consented to in writing by Landlord; provided however this provision shall not apply if Tenant is a publicly traded corporation or if the transfer of shares of stock is to any one or more individuals in the Tenant's immediately family. (f) if Tenant fails to pay Minimum Rent, Percentage Rent, Fund contribution, its share of Common Area Expenses or any other charges required when same shall become due and payable and such failure continues for five (5) days; (g) if Tenant shall fail to perform or observe any terms and conditions of this Lease and such failure shall continue for ten (10) days after written notice from Landlord (except that such ten (10) day period shall be automatically extended for such additional period of time as is reasonably necessary to cure such default if such default cannot be cured within such period provided that Tenant is in the process of diligently curing same. This provision shall not apply to monetary obligations the nonperformance of which is covered under sub-paragraph (f) (h) if Tenant shall be given three (3) notices of Default under Section 13.01 (f) or (g), notwithstanding any subsequent cure of the noticed Default; or (i) if any execution levy attachment or other legal process of law shall occur upon Tenant's goods fixtures or interest in the Demised Premises.

Elements of Default. The occurrence of If any one or more of the following events occur, said event or events shall hereby constitute a default default: (a) if Tenant abandons the Premises; (b) the failure of this Lease by Tenant: 1. Tenant fails to pay any monthly installment Minimum Rent or Additional Rent, if such failure continues for a period of rent within ten (10) days after written notice; (c) the same failure of Tenant to perform or observe any other term or condition of this Lease, and such failure shall continue for thirty (30) days after written notice (except in connection with a failure that cannot be due and payable, except for the first two remedied or cured within said thirty (230) times in any consecutive twelve (12) month day period, in which event the time of Tenant shall have five (5) days after receipt of written notice of such failure within which to pay before cure such failure shall constitute be extended for such time as shall be necessary to cure the same, but only if Tenant, within such thirty (30) day period, shall notify Landlord thereof and shall promptly commence and thereafter proceed diligently and continuously to cure such failure); (d) [intentionally omitted]; (e) if any writ of execution, levy, attachment or other legal process of law shall occur upon Tenant's assets, merchandise, fixtures or Tenant's estate or interest in the Premises; (f) the commencement of levy, execution, or attachment proceedings against Tenant or a default; 2. substantial portion of Tenant's assets; the commencement of levy, execution, attachment or other process of law upon, on or against the estate created in Tenant fails to perform hereby; the application for or observe the appointment of a liquidator, receiver, custodian, sequestrator, conservator, trustee, or other similar judicial officer for Tenant or for all or any term, condition, covenant or obligation required to be performed or observed by it under this Lease substantial part of the property of Tenant (and such appointment continues for a period of twenty ninety (2090) days after notice thereof from Landlorddays); provided, however, that if the term, condition, covenant insolvency of Tenant or obligation to be performed Tenant in bankruptcy or equity sense; any assignment by Tenant is of such nature that the same cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's notice, but in no event later than forty-five (45) days after Landlord's notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease or abandons the demised premises for a period of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Lease. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's assets in, on or about the demised premises or of Tenant's interest in this Lease (and Tenant or any guarantor of Tenant's obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; and (g) subject to Section C below, the commencement of a case by or substantially all of against Tenant's assets in, on under any insolvency, bankruptcy, creditor adjustment or about debtor rehabilitation laws, state or federal; or the demised premises determination by the Tenant to request relief under any insolvency proceeding, including any insolvency, bankruptcy, creditor adjustment or debtor rehabilitation laws, state or federal, and in no event shall the Premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter). 5. A petition become an asset in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's obligations under this Lease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the sameproceedings.

Elements of Default. The occurrence of any one or more of the following events shall constitute a default of this Lease by Tenant: 1. Tenant fails to pay any monthly installment of minimum rent and/or additional rent within ten (10) days after the same shall be due and payable, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a default; 2. Tenant fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty (20) 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 cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's notice, but in no event later than forty-five (45) days after Landlord's notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease at the delivery of possession date, vacates or abandons the demised premises Premises for a period of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Leasepremises. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's assets in, on or about the demised premises or of Tenant's interest in this Lease (and Tenant or any guarantor of Tenant's obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes an assignment for the benefit of creditors; or substantially all of Tenant's assets in, on or about the demised premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter). 5. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant's obligations under this Lease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the same.

Elements of Default. The occurrence of If any one or more of the following events occur, said event or events shall constitute hereby be classified as a default of this Lease by Tenant"Default": 1. Tenant fails to pay any monthly installment of rent within ten (10a) days after the same shall be due and payableIf SubTenant, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a default; 2. Tenant fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of twenty (20) 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 cannot reasonably be cured within twenty (20) days and if Tenant commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's notice, but in no event later than forty-five (45) days after Landlord's notice. 3. If Tenant refuses to take possession of the demised premises as required pursuant to this Lease or abandons the demised premises for a period of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Lease. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's assets in, on or about the demised premises or of Tenant's interest in this Lease (and Tenant or any guarantor of TenantSubTenant's obligations under this Lease does not regain possession within sixty (60) days after such appointment); Tenant makes hereunder, shall make an assignment for the benefit of creditors; creditors or substantially all of Tenant's assets infile a petition, on or about the demised premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter). 5. A petition any state court, in bankruptcy, insolvencyreorganization, composition, or make an application in any such proceedings for reorganization the appointment of a trustee or arrangement is receiver for all or any portion of its property; (b) If any petition shall be filed by or under state law against Tenant SubTenant or any guarantor of TenantSubTenant's obligations under this Lease pursuant to hereunder in any Federal bankruptcy, reorganization or state statuteinsolvency proceedings, and, with respect to any such petition filed against it, Tenant and said proceedings shall not be dismissed or such guarantor fails to secure a stay or discharge thereof vacated within sixty thirty (6030) days after the filing such petition is filed; (c) If a receiver or trustee shall be appointed under state law for SubTenant or any guarantor of SubTenant's obligations hereunder, for all or any portion of the sameproperty of either of them, and such receivership or trusteeship shall not be set aside within thirty (30) days after such appointment; (d) If SubTenant fails to pay any installment of Minimum Rent or any Additional Rent or any other charges required to be paid by SubTenant when same shall become due and payable and such failure continues for five (5) days; (e) If SubTenant shall fail to perform or observe any terms or conditions of this SubLease, and such failure shall continue for thirty (30) days after written notice from SubLandlord (except that such thirty (30) day period shall be automatically extended for such additional period of time as is reasonably necessary to cure such Default, if such Default cannot be cured within such period, provided SubTenant commences the process of curing the same within said thirty (30) day period and diligently pursues such cure); (f) If any execution, levy, attachment or other legal process of law shall occur upon SubTenant's goods, fixtures, or interest in the Demised Premises.

Elements of Default. The occurrence of any one or more of the following events shall constitute a default of this Lease Sublease by TenantSublessee: 1. Tenant Sublessee fails to pay any monthly installment of minimum rent and/or additional rent within ten (10) days after the same shall be due and payablepayable and, except for the first two (2) times in any consecutive twelve (12) month period, in which event Tenant shall have within five (5) days after receipt of written notice of such failure to pay before such failure shall constitute a defaultthereof; 2. Tenant Sublessee fails to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease Sublease for a period of twenty (20) days after notice thereof from LandlordSublessor; provided, however, that if the term, condition, covenant or obligation to be performed by Tenant Sublessee is of such nature that the same cannot reasonably be cured within twenty (20) days and if Tenant Sublessee commences such performance or cure within said twenty (20) day period and thereafter diligently undertakes to complete the same, then such failure shall not be a default hereunder if it is cured within a reasonable time following Landlord's Sublessor’s notice, but in no event later than forty-five (45) days after Landlord's Sublessor’s notice. 3. If Tenant Sublessee refuses to take possession of the demised premises as required pursuant to this Lease or abandons at the demised premises for a period delivery of thirty (30) days or substantially ceases to operate its business or to carry on its normal activities in the demised premises as required pursuant to this Leasepossession date. 4. A trustee or receiver is appointed to take possession of substantially all of Tenant's Sublessee’s assets in, on or about the demised premises or of Tenant's Sublessee’s interest in this Lease Sublease (and Tenant Sublessee or any guarantor of Tenant's Sublessee’s obligations under this Lease Sublease does not regain possession within sixty (60) days after such appointment); Tenant Sublessee makes an assignment for the benefit of creditors; or substantially all of Tenant's Sublessee’s assets in, on or about the demised premises or Tenant's Sublessee’s interest in this Lease Sublease are attached or levied upon under execution (and Tenant Sublessee does not discharge the same within sixty (60) days thereafter). 5. A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant Sublessee or any guarantor of Tenant's Sublessee’s obligations under this Lease Sublease pursuant to any Federal or state statute, and, with respect to any such petition filed against it, Tenant Sublessee or such guarantor fails to secure a stay or discharge thereof within sixty (60) days after the filing of the same.