Events of Default by Tenant. The following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”: (a) The vacation or abandonment of the Premises by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises); (b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated; (c) A general assignment by Tenant for the benefit of creditors; (d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days; (e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof, (f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction); (g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease; (h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto; (i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (90) days after the giving of the aforesaid written notice; (j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;
Appears in 2 contracts
Samples: Office Lease, Office Lease (Zillow Inc)
Events of Default by Tenant. The occurrence of any of the following events are referred to, collectively, as shall constitute a material default and breach of this Lease by Tenant (“Events of Default” or, individually, as an “Event of Default”:).
(aA) The vacation or abandonment of the Premises failure by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Base Rent or make any other monies payment required to be made by Tenant hereunder on its due and payable hereunderdate, said failure continuing for provided that Tenant shall have a grace period of three (3) business days after (“Grace Period”) to make such payments of Base Rent; provided, however, that Landlord shall provide Tenant with written notice and five (5) days in which to cure such non-payment once each calendar year during the same is due, provided that with respect Term prior to the first late payment in any twelve (12) month period, it shall not be occurrence of an Event of Default unless such payment is not received within three and further provided that if Tenant pays Base Rent later than the first day of a calendar month more than four (34) times in any one (1) calendar days after written notice thereof by Landlord to Tenant; provided further that in year, the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because Grace Period shall terminate and all payments of Tenant’s timely cure of its first Event of Default in such twelve (12) month period Base shall be re-instated;made on its due date.
(cB) A general assignment The abandonment of the Premises by Tenant for the benefit of creditors;Tenant.
(dC) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust observe or perform any other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, provision of this Lease to be observed or the Premises performed by Tenant contrary to the provision of Article 10 of this LeaseTenant, unless other than those described in Sections 15.1(A) and 15.1(B) above, if such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from by Landlord to Tenant; provided, provided thathowever, that if Tenant has exercised reasonable diligence to cure the nature of the default is such failure and such failure that it cannot be cured within such the thirty (30) day period, no default shall exist if Tenant commences the curing of the default within the thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant and thereafter diligently and continuously prosecutes the cure same to completion and actually completes such cure the same within ninety (90) days after the giving of the aforesaid written notice;days.
(jD) Chronic Default The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws (unless, in the payment case of Rent, or any other periodic payments required to be paid by a petition filed against Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease the same is dismissed within three sixty (360) days after written notice thereof for filing); the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets at the Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within sixty (60) days; or the attachment, execution or other seizure of substantially all of Tenant’s assets located at the Premises or Tenant’s interest in this Lease or the Premises, if such seizure is not discharged within sixty (60) days.
(E) Any material misrepresentation herein, or material misrepresentation or omission in any three (3) months (consecutive financial statements or nonconsecutive) during other materials provided by Tenant or any period Guarantor to Landlord. Time is of twelve (12) months;the essence with respect to Tenant’s compliance with this Section 15.1.
Appears in 1 contract
Samples: Office Lease (Omniture, Inc.)
Events of Default by Tenant. The occurrence of any of the following events are referred to, collectively, as “Events shall constitute a material default and breach of Default” or, individually, as an “Event of Default”this Lease by Tenant:
(aA) The vacation or abandonment of the Premises failure by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Base Rent or make any other monies due payment required to be made by Tenant hereunder as and payable hereunderwhen due, said which failure continuing continues for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after following written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;notice.
(cB) A general assignment The abandonment of the Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (without the benefit payment of creditors;Rent) without providing a reasonable level of security.
(dC) The filing of a voluntary petition in bankruptcy by Tenant, the filing making by Tenant of a voluntary petition for an arrangement, the filing by any assignment of this Lease or against Tenant any sublease of a petition, voluntary all or involuntary, for reorganization, or the filing part of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period except as expressly permitted under Article XIV of sixty (60) days after the levy thereof,this Lease.
(fD) Death or disability of Tenant, if Tenant is a natural person, or the The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust observe or perform any other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, provision of this Lease to be observed or the Premises performed by Tenant contrary to the provision of Article 10 of this LeaseTenant, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure other than those described in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (bSections 15.01(A), (d15.01(B) or 15.01 (eC) herein or any other subparagraphs of this Article 25.01above, which shall be governed by the notice and cure periods set forth in if such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from by Landlord to Tenant; provided, provided thathowever, that if Tenant has exercised reasonable diligence to cure the nature of the default is such failure and such failure that it cannot be cured within such the thirty (30) day period, no default shall exist if Tenant commences the curing of the default within the thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant and thereafter diligently and continuously prosecutes the cure same to completion and actually completes such cure completion.
(E) The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws (unless, in the case of a petition filed against Tenant the same is dismissed within ninety thirty (9030) days after filing); the giving appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets at the aforesaid written notice;Premises or Tenant’s interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other seizure of substantially all of Tenant’s assets located at the Premises or Tenant’s interest in this Lease or the Premises, if such seizure is not discharged within sixty (60) days.
(jF) Chronic Default Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant in the payment of Rent, connection with negotiating or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under entering into this Lease within three (3) days after written notice thereof for or in connection with any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;Transfer under Section 14.01.
Appears in 1 contract
Samples: Office Lease (Wilshire Bancorp Inc)
Events of Default by Tenant. The Each of the following events are referred to, collectively, as “Events acts or omissions of Default” or, individually, as Tenant or occurrences shall constitute an “Event of Default”:
15.1.1 Any failure or refusal by Tenant to timely pay any Rent or any other payments or charges required to be paid hereunder, or any portion thereof, within five (a5) The vacation days of notice that the same is delinquent.
15.1.2 Any failure by Tenant to perform or abandonment observe any other covenant or condition of this Lease (including, without limitation, in the Premises Datacenter Rules and Regulations) to be performed or observed by Tenant (other than those described in Section 15.1.1, above or Sections 15.1.3, 15.1.4, or 15.1.5, below) if such failure of Tenant to occupy the Premises continues for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after following written notice thereof from Landlord to Tenant of such failure; provided, however, that in the event Tenant, provided that, if ’s failure to perform or observe any covenant or condition of this Lease to be performed or observed by Tenant has exercised reasonable diligence to cure such failure and such failure cannot reasonably be cured within such thirty (30) day period despite reasonable diligencedays following written notice to Tenant, Tenant shall not be in default under this subparagraph so long as if Tenant commences to cure same within ten (10) days following receipt of such written notice and thereafter diligently and continuously prosecutes the cure curing thereof to completion and actually completes within sixty (60) days following such cure within ninety written notice.
15.1.3 The filing or execution or occurrence of any one of the following: (90i) a petition in bankruptcy or other insolvency proceeding by or against Tenant, (ii) a petition or answer seeking relief under any provision of the Bankruptcy Act, (iii) an assignment for the benefit of creditors, (iv) a petition or other proceeding by or against Tenant for the appointment of a trustee, receiver or liquidator of Tenant or any of Tenant’s property, or (v) a proceeding by any governmental authority for the dissolution or liquidation of Tenant or any other instance whereby Tenant or any general partner of Tenant shall cease doing business as a going concern; provided, however, in each of the foregoing subsections, such order, judgment or decree (entered as a result of a petition or proceeding) shall remain undischarged or unstayed sixty (60) days after the giving of the aforesaid written notice;it is entered.
(j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means 15.1.4 Any failure by Tenant to pay Rent, execute and deliver any statement or any other payments required document described in either Article 11 or Section 12.1 requested to be paid so executed and delivered by Tenant under this Lease Landlord within three the time periods specified therein applicable thereto, where such failure continues for five (35) days after delivery of written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;such failure by Landlord to Tenant.
Appears in 1 contract
Events of Default by Tenant. The following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:
(a) The vacation or abandonment of the Premises by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction)entity;
(g) Failure of Tenant to execute and deliver to Landlord any reasonable estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;; [***] Denotes confidential information omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (90) days after the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;
Appears in 1 contract
Samples: Office Lease (Dendreon Corp)
Events of Default by Tenant. The Each of the following events are referred to, collectively, as “Events of Default” or, individually, as shall constitute an “Event of Default”:
: (ai) The vacation or abandonment of the Premises by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three within five (35) business days after the same is due, notice from Landlord; provided that no such notice shall be required if at least two such notices shall have been given during the previous 12 months; (ii) Tenant fails to observe or perform any other term, condition or covenant herein binding upon or obligating Tenant within 30 days after notice from Landlord; provided, however, that if such failure cannot reasonably be cured within such 30-day period, then such period to cure the default shall be extended for up to an additional 60 days provided Tenant has commenced to cure the default within the 30-day period and diligently pursues such cure to completion (notwithstanding the foregoing, if Landlord provides Tenant with respect notice of Tenant’s failure to the first late payment in observe or perform any twelve term, condition or covenant under this Subsection (12ii) on two or more occasions during any 12 month period, it shall not then Tenant’s subsequent violation of the same term, condition or covenant shall, at Landlord’s option, be deemed an Event of Default unless immediately upon the occurrence of such payment is not received failure, regardless of whether Landlord provides Tenant notice, or Tenant has commenced the cure of the same); (iii) Tenant fails to pay Rent when due and abandons or vacates the Premises or fails to take occupancy of the Premises within three (3) calendar 90 days after written the Commencement Date; (iv) Tenant fails to execute and return a SNDA (as defined in Article XXI) or estoppel within the time periods provided for in Article XXI or Section 24.4 and such failure continues after the expiration of five (5) business days after Landlord has delivered to Tenant notice thereof by Landlord to Tenant; provided further that stating in bold letters in the event re: line that “THIS IS A NOTICE OF DEFAULT RELATING TO TENANT’S FAILURE TO RETURN A DOCUMENT PURSUANT TO TENANT’S LEASE AT 0000 XXXXXXX XXXXXX XXXXX, XXX XXXX XXXXXXXXXX”; (v) Tenant fails thereafter in the same twelve (12) month period or any Guarantor makes or consents to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A a general assignment by Tenant for the benefit of creditors or a common law composition of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or a receiver of the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged Premises for a period of sixty (60) days;
(e) Receivership, attachment, all or other judicial seizure of substantially all of Tenant’s or Guarantor’s assets on the Premises, such attachment is appointed; (vi) Tenant or other seizure remaining undismissed Guarantor hereafter files a voluntary petition in any bankruptcy or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural personinsolvency proceeding, or the failure an involuntary petition in any bankruptcy or insolvency proceeding is filed against Tenant or Guarantor and is not discharged by Tenant or Guarantor within 60 days; or (vii) Tenant fails to maintain its legal existence, if immediately after Landlord’s delivery of notice to Tenant is a corporation, partnership, limited liability company, trust remedy or other legal entity (except to the extent discontinue any hazardous conditions which Tenant changes the status has created or permitted in violation of its legal existence through reincorporation in an alternate jurisdiction law or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease. Any such notices required under this Section 20.1 shall be in satisfaction of, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure and not in the performance of addition to, any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (dnotice required under Sections 1161(2) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs3), which failure continues as the case may be, of the California Code of Civil Procedure. Any notice periods provided for thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently Section 20.1 shall run concurrently with any statutory notice periods and continuously prosecutes the cure to completion and actually completes any notice given hereunder may be given simultaneously with or incorporated into any such cure within ninety (90) days after the giving of the aforesaid written statutory notice;
(j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;.
Appears in 1 contract
Samples: Office Lease (McAfee Corp.)
Events of Default by Tenant. The following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:
(a) The vacation or abandonment of the Premises by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A general assignment by Tenant or Guarantor for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by TenantTenant or Guarantor, the filing by Tenant or Guarantor of a voluntary petition for an arrangement, the filing by or against Tenant or Guarantor of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of TenantTenant or Guarantor, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of TenantTenant or Guarantor, if Tenant or such Guarantor is a natural person, or the failure by Tenant or Guarantor to maintain its legal existence, if Tenant or Guarantor is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction)entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety sixty (9060) days after the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;
Appears in 1 contract
Samples: Office Lease (Acucela Inc)
Events of Default by Tenant. The following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:
(a) The vacation All covenants and agreements to be kept or abandonment of the Premises performed by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation performed by Tenant at Tenant's sole cost and abandonment expense and without any reduction of Rent, except as expressly set forth herein. The occurrence of any of the Premises);following shall constitute a “Default” under this Lease by Tenant:
(bi) Failure Any failure by Tenant to pay any Rent or any other charge required to be paid under this Lease or any part thereof as and when such amount is due; provided, however, that Tenant shall be entitled to a notice of non-payment and a five (5) day cure period on the first (1st) occasion during the first thirty-six (36) months of the Term, and on the first (1st) occasion during each successive thirty-six (36) month period, in which any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same such charge is duenot timely paid, provided that with respect to on the first late payment in second (2nd) failure or any twelve subsequent failure during any such thirty-six (1236) month period, it no such notice shall not be an Event of Default unless such payment is not received within three required.
(3ii) calendar days after written notice thereof Tenant abandons the Premises, as described in California Civil Code Section 1951.3.
(iii) Tenant fails timely to deliver any subordination document, estoppel certificate, financial statement or other document requested by Landlord to Tenant; provided further that within the applicable time period specified in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;Paragraph 24.
(civ) A general Tenant violates the restrictions on liens set forth in Paragraph 22 or on Transfer set forth in Paragraph 23.
(v) Tenant ceases doing business as a going concern; makes an assignment by Tenant for the benefit of creditors;
; is adjudicated an insolvent, files a petition (d) The filing of a voluntary petition in bankruptcy by Tenant, or files an answer admitting the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant material allegations of a petition, voluntary ) seeking relief under any state or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, federal bankruptcy or other judicial seizure of statute, law or regulation affecting creditors’ rights; all or substantially all of Tenant’s assets on are subject to judicial seizure or attachment and are not released within thirty (30) days, or Tenant consents to or acquiesces in the Premisesappointment of a trustee, such attachment receiver or other seizure remaining undismissed liquidator for Tenant or undischarged for a period all or any substantial part of Tenant’s assets.
(vi) Tenant fails, within sixty (60) days after the levy thereof,commencement of any proceedings against Tenant seeking relief under any state or federal bankruptcy or other statute, law or regulation affecting creditors’ rights, to have such proceedings dismissed, or Tenant fails, within six (30) days after an appointment, without Tenant’s consent or acquiescence, of any trustee, receiver or liquidator for Tenant or for all or any substantial part of Tenant’s assets, to have such appointment vacated.
(fvii) Death Tenant fails to deliver or disability of Tenant, if Tenant is a natural person, or replenish the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);Security Deposit as required under Paragraph 4.
(gviii) Failure of Tenant shall fail to execute and deliver to Landlord observe or perform any estoppel certificateother provision, subordination agreement, covenant or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease to be observed or the Premises performed by Tenant contrary to the provision of Article 10 of this Lease, unless where such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant; 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 or any similar or successor law; and provided that, further that if Tenant has exercised reasonable diligence to cure the nature of such failure and default is such failure that the same cannot reasonably be cured within such a thirty (30) day period despite reasonable diligence30)-day period, Tenant shall not be deemed to be in default under this subparagraph so long as Tenant thereafter if it diligently and continuously prosecutes the cure to completion and actually completes commences such cure within ninety (90) days after such period and thereafter diligently proceeds to rectify and cure the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;default as soon as possible.
Appears in 1 contract
Samples: Lease Agreement (Neophotonics Corp)
Events of Default by Tenant. The occurrence of any of the following events are referred to, collectively, as “Events shall constitute a material default and breach of Default” or, individually, as an “Event of Default”this Lease by Tenant:
(aA) The vacation failure by Tenant to pay Base Rent or make any other payment required to be made by Tenant hereunder as and when due and the continuation of such failure for five (5) days.
(B) The abandonment of the Premises by Tenant (failure or the vacation of Tenant to occupy the Premises by Tenant for a period of ten fourteen (1014) consecutive days while in monetary default under (with or without the payment of Rent).
(C) The making by Tenant of any assignment of this Lease shall conclusively be deemed a vacation and abandonment or any sublease of all or part of the Premises);, except as expressly permitted under Article XIV of this Lease.
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(dD) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust observe or perform any other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, provision of this Lease to be observed or the Premises performed by Tenant contrary to the provision of Article 10 of this LeaseTenant, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure other than those described in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (bSections 15.01(A), (d15.01(B) or (e15.01(C) herein or any other subparagraphs of this Article 25.01above, which shall be governed by the notice and cure periods set forth in if such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from by Landlord to TenantTenant provided, provided thathowever, that if Tenant has exercised reasonable diligence to cure the nature of the default is such failure and such failure that it cannot be cured within the thirty (30) day period, no default shall be deemed to exist if Tenant commences the curing of the default promptly within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant and thereafter diligently and continuously prosecutes the cure same to completion and actually completes such cure achieves the same within ninety sixty (9060) days after the giving occurrence of such default. The thirty (30) day notice described herein shall be in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior to the aforesaid written notice;commencement of an unlawful detainer or other legal proceeding.
(jE) Chronic Default The making by Tenant of any general assignment for the benefit of creditors, the filing by or against Tenant of a petition under any federal or state bankruptcy or insolvency laws (unless, in the payment case of Renta petition filed against Tenant, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease the same is dismissed within three thirty (330) days after written notice thereof for any three filing); the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets at the Premises or Tenant's interest in this Lease or the Premises, when possession is not restored to Tenant within thirty (330) months days; or the attachment, execution or other seizure of substantially all of Tenant's assets located at the Premises or Tenant's interest in this Lease or the Premises, if such seizure is not discharged within thirty (consecutive or nonconsecutive30) during any period of twelve (12) months;days.
Appears in 1 contract
Events of Default by Tenant. The following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:
(a) The vacation or abandonment of the Premises by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease It shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three under this Lease, if (3i) calendar days Tenant fails to pay Fixed Rent or additional rent for more than ten (10) days, after written notice thereof by Landlord to Tenant; provided further specifying such failure and that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first such failure may be an Event of Default in such twelve hereunder; (12ii) month period shall be reTenant fails to perform its other non-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or monetary obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for more than thirty (30) days after written notice thereof from Landlord to TenantLandlord, provided thattogether with such additional time, if Tenant has exercised reasonable diligence any, as is reasonably required to cure the default if the default is of such failure and such failure a nature that it cannot reasonably be cured within such in thirty (30) day period despite reasonable diligencedays; or (iii) if Tenant makes any assignment for the benefit of creditors, or files a petition under any bankruptcy or insolvency law; or (iv) if such a petition is filed against Tenant shall and is not be in default under this subparagraph so long as dismissed within thirty (30) days; or (v) if a receiver becomes entitled to Tenant's leasehold hereunder and it is not returned to Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (90) days after days; or (vi) such leasehold is taken on execution or other process of law in any action against Tenant; then, and in any such cases, Landlord and the giving agents and servants of Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter while such default continues and without further notice enter into and upon the Premises or any part thereof in the name of the aforesaid written notice;
(j) Chronic whole or mail a notice of termination addressed to Tenant at the Premises and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and 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 prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall terminate, but Tenant shall remain liable as hereinafter provided. After the occurrence of an Event of Default by as aforesaid, Tenant in hereby waives all statutory rights of redemption, if any to the extent such rights may be lawfully waived, and Landlord, without notice to Tenant, may store Tenant's effects and those of any person claiming through or under Tenant at the expense and risk of Tenant and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of Rentall sums due to Landlord from Tenant, or any other periodic payments required if any, and pay over the balance, if any, to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;Tenant.
Appears in 1 contract
Samples: Lease Agreement (Open Market Inc)
Events of Default by Tenant. The occurrence of any of the following events are referred to, collectively, as “Events shall constitute a material default and breach of Default” or, individually, as an “Event of Default”this Lease by Tenant:
(aA) The vacation failure by Tenant to pay Base Rent or make any other payment required to be made by Tenant hereunder as and when due, provided that Tenant shall have three (3) days from receipt of any notice of Tenant’s failure to pay to cure such default.
(B) The abandonment of the Premises by Tenant (failure or the vacation of Tenant to occupy the Premises by Tenant for a period of ten fourteen (1014) consecutive days while in monetary default under (with or without the payment of Rent).
(C) The making by Tenant of any assignment of this Lease shall conclusively be deemed a vacation and abandonment or any sublease of all or part of the Premises);, except as expressly permitted under Article XIV of this Lease.
(bD) Failure The failure by Tenant to pay any installment of Rent observe or perform any other monies due and payable hereunderprovision of this Lease to be observed or performed by Tenant, said other than those described in Sections 15.01(A), 15.01(B) or 15.01 (C) above, if such failure continuing continues for a period of three fifteen (315) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further provided, however, that in if the event nature of the default is such that it cannot be cured within the fifteen (15) day period, no default shall exist if Tenant fails commences the curing of the default within the fifteen (15) day period and thereafter in diligently prosecutes the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;completion.
(cE) A The making by Tenant or its Guarantor of any general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant or its Guarantor of a petitionpetition under any federal or state bankruptcy or insolvency laws (unless, voluntary in the case of a petition filed against Tenant or involuntary, for reorganization, its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets at the Premises or Tenant’s interest in this Lease or the filing of an involuntary petition by the creditors of TenantPremises, said involuntary petition remaining undischarged for a period of sixty when possession is not restored to Tenant within thirty (6030) days;
(e) Receivership, ; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets on located at the Premises, such attachment Premises or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation ’s interest in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this LeasePremises, unless if such assignment or sublease seizure is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for not discharged within thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (90) days after the giving of the aforesaid written notice;days.
(jF) Chronic Default Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, Guarantor in connection with negotiating or any other payments required to be paid by Tenant under entering into this Lease within three (3) days after written notice thereof for or in connection with any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;Transfer under Section 14.01.
Appears in 1 contract
Samples: Office Lease (Cherokee Inc)
Events of Default by Tenant. The Any of the following events are referred to, collectively, as “Events of Default” or, individually, as constitutes an “Event of Default”Default by Tenant under this Lease:
(a) The vacation or abandonment of any Rent is in arrears and is not paid within five Business Days after notice from the Premises by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises)Landlord;
(b) Failure the Tenant has breached any of its obligations in this Lease and, if such breach is capable of being remedied and is not otherwise listed in this Section 15.1, after notice from the Landlord:
(i) the Tenant fails to pay any installment of Rent remedy such breach within 15 days (or any other monies due and payable hereunder, said failure continuing for a such shorter period of three as may be provided in this Lease); or
(3ii) business if such breach cannot reasonably be remedied within 15 days after the same is due, provided that with respect to the first late payment in any twelve (12) month or such shorter period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails to commence to remedy such breach within such 15 days or shorter period or thereafter in the same twelve (12) month period fails to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in proceed diligently to remedy such twelve (12) month period shall be re-instatedbreach;
(c) A general assignment by the Lease or any material goods, chattels or equipment of the Tenant for is seized, taken or exigible in execution or in attachment or if a writ of execution or enforcement is issued against the benefit Tenant and such writ is not stayed or vacated within 15 days after the date of creditorssuch issue;
(d) The filing the Tenant becomes insolvent or commits an act of a voluntary petition in bankruptcy by Tenantor takes the benefit of any statute for bankrupt or insolvent debtors or makes any proposal, the filing by Tenant of a voluntary petition for an arrangementassignment, the filing by compromise or against Tenant of a petition, voluntary or involuntary, for reorganizationarrangement with its creditors, or if a receiver is appointed for all or part of the filing business, property, affairs or revenues of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivershipthe Tenant makes a bulk sale of its goods (other than in conjunction with a Transfer approved by the Landlord) or moves or commences, attachmentattempts or threatens to move its goods, chattels and equipment out of the Premises (other than in the normal course of its business);
(f) the Tenant abandons or other judicial seizure of substantially all of Tenant’s assets on attempts to abandon the Premises or ceases to conduct business from the Premises, such attachment or other seizure remaining undismissed the Premises become vacant or undischarged substantially unoccupied for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);30 consecutive days; or
(g) Failure of the Tenant purports to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within effect a Transfer other than in compliance with the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 provisions of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (90) days after the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;.
Appears in 1 contract
Events of Default by Tenant. The occurrence of any one or more of the following events are referred to, collectively, as “Events of Default” or, individually, as an “Event of Default”:shall constitute a default by Tenant under this Lease: 13
(a) The vacation or abandonment of the Premises by Tenant (fails to pay any Rental when due and such failure of Tenant to occupy the Premises shall continue for a period of ten (10) consecutive days while in monetary default under this Lease after written notice to Tenant; provided, however, Tenant shall conclusively be deemed a vacation entitled to such notice and abandonment of the Premises)opportunity to cure on only two (2) occasions during any calendar year;
(b) Failure Tenant fails to pay any installment of Rent perform or observe any other monies due covenant or obligation hereunder or under any of the Rules and payable hereunder, said Regulations and such failure continuing continues for a period of three more than thirty (330) business days after notice or, if such failure cannot be cured through the same is dueexercise of all reasonable diligence, provided that with respect to the first late payment in any twelve within such thirty (12) month 30)-day period, it shall if Tenant does not be an Event commence to cure same within said thirty (30)-day period and thereafter diligently pursue the correction of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord same to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instatedcompletion;
(c) A [Intentionally Omitted];
(d) any petition is filed by or against Tenant under any section or chapter of the present or any future United States Bankruptcy Code or under any similar law or statute of the United States or any state thereof (which, in the case of an involuntary proceeding, is not permanently discharged, dismissed, or vacated, as the case may be, within thirty (30) days of its commencement), or any order for relief shall be entered against Tenant in proceedings filed under any section or chapter of the present or any future United States Bankruptcy Code or under any similar law of statute of the United State or any state thereof;
(e) Tenant becomes insolvent or makes a transfer in fraud of creditors;
(f) Tenant makes a general assignment by Tenant for the benefit of creditors;
(dg) The filing of a voluntary petition in bankruptcy by Tenantreceiver, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationcustodian, or trustee is appointed for Tenant or for any of the filing assets of an involuntary petition by the creditors Tenant (or any guarantor of Tenant, said involuntary petition remaining undischarged for a period of sixty (60's obligations under this Lease) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of which appointment is not vacated within sixty (60) days after of the levy thereof,
(f) Death or disability date of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Leasesuch appointment;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises breach by Tenant contrary to of the provision of prohibition against assignment and subletting under Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;8 hereof; or
(i) Failure in the performance occurrence of any of Tenant’s covenants, agreements or obligations hereunder (except those failures a default as so specified as Events of Default in subparagraphs (b), (d) or (e) herein or under any other subparagraphs provision of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (90) days after the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;.
Appears in 1 contract
Events of Default by Tenant. The Each of the following events are referred to, collectively, as “Events acts or omissions of Default” or, individually, as Tenant or occurrences shall constitute an “Event of Default”:
15.1.1 Any failure or refusal by Tenant to timely pay any Rent or any other payments or charges required to be paid hereunder, or any portion thereof, within five (a5) The vacation days of notice that the same is due.
15.1.2 Any failure by Tenant to perform or abandonment observe any other covenant or condition of this Lease (including, without limitation, in the Premises Building Rules and Regulations) to be performed or observed by Tenant (other than those described in Section 15.1.1, above or Sections 15.1.3, 15.1.4, or 15.1.5, below) if such failure of Tenant to occupy the Premises continues for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after following written notice thereof from Landlord to Tenant of such failure; provided, however, that in the event Tenant, provided that, if ’s failure to perform or observe any covenant or condition of this Lease to be performed or observed by Tenant has exercised reasonable diligence to cure such failure and such failure cannot reasonably be cured within such thirty (30) day period despite reasonable diligencedays following written notice to Tenant, Tenant shall not be in default under this subparagraph so long as if Tenant commences to cure same within the thirty (30) day period and thereafter diligently and continuously prosecutes the cure curing thereof to completion and actually completes such cure within ninety (90) days after the giving following such written notice.
15.1.3 The filing or execution or occurrence of any one of the aforesaid written notice;
following: (ji) Chronic Default a petition in bankruptcy or other insolvency proceeding by or against Tenant, (ii) a petition or answer seeking relief under any provision of the Bankruptcy Act, (iii) an assignment for the benefit of creditors, (iv) a petition or other proceeding by or against Tenant in for the payment appointment of Renta trustee, receiver or liquidator of Tenant or any of Tenant’s property, or (v) a proceeding by any governmental authority for the dissolution or liquidation of Tenant or any other periodic payments required to be paid by instance whereby Tenant under this Lease. “Chronic Default” means or any general partner of Tenant shall cease doing business as a going concern.
15.1.4 Any failure by Tenant to pay Rent, execute and deliver any statement or any other payments required document described in either Article 11 or Section 12.1 requested to be paid so executed and delivered by Tenant under this Lease Landlord within the time periods specified therein applicable thereto, where such failure continues for three (3) days after delivery of written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;such failure by Landlord to Tenant.
Appears in 1 contract
Samples: Datacenter Lease (SAVVIS, Inc.)
Events of Default by Tenant. The occurrence of one or more of the following events are referred to, collectively, as “Events of Default” or, individually, as shall constitute an “Event of Default”” under this Lease:
(a1) The vacation Tenant abandons or abandonment surrenders all or any part of the Premises by Tenant (failure of Tenant prior to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment expiration of the Premises);
(b) Failure to pay any installment Term of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h2) An assignment Tenant fails to pay Rent or sublease, Additional Rent within ten (10) days after written notice from Landlord of delinquency;
(3) Tenant fails to fulfill any of the terms or attempted assignment or sublease, conditions of this Lease or and the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease same is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for not cured within thirty (30) days after written notice thereof from Landlord to TenantLandlord, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure unless the same cannot be cured within said thirty (30) day period, in which case Tenant shall have such additional time as is reasonably necessary to cure such default, not to exceed ninety (90) days in any and all events, provided that Tenant commences such cure within said thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant and thereafter diligently and continuously prosecutes the cure same to completion completion;
(4) The appointment of a trustee or a receiver to take possession of all or substantially all of Tenant’s assets occurs, or if the attachment, execution or other judicial seizure of all or substantially all of Tenant’s assets located at the Premises, or of Tenant’s interest in this Lease, occurs, and actually completes such cure in the case of an involuntary appointment only, the same is not dismissed within ninety (90) days after the giving of the aforesaid written noticefrom said, appointment;
(j5) Chronic Default by Tenant or any of its successors or assigns or any guarantor of this Lease (“Guarantor”) should file any voluntary petition in the payment of Rentbankruptcy, reorganization or arrangement, or an assignment for the benefit of creditors or for similar relief under any other periodic payments required present or future statute, law or regulation relating to be paid by relief of debtors; or
(6) Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to of its successors or assigns or any Guarantor should be paid by Tenant under this Lease adjudicated bankrupt or have an involuntary petition in bankruptcy, reorganization or arrangement filed against it and the same not be dismissed within three ninety (390) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;the date of the filing thereof.
Appears in 1 contract
Events of Default by Tenant. The occurrence of any of the following events are referred toshall constitute a default and breach of this Lease by Xxxxxx (individually, and collectively, as “Events of Default” or, individually, as an “Event of Default”:):
(aA) The vacation failure by Tenant to pay Base Rent, Additional Rent, or make any other payment required to be made by Tenant hereunder for a period of five (5) days following receipt by Tenant of written notice that any such payment(s) shall be due.
(B) The abandonment of the Premises by Tenant (failure or the vacation of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;consecutive days (with or without the payment of Rent).
(eC) Receivership, attachment, The making by Tenant of any assignment of this Lease or other judicial seizure any sublease of substantially all or part of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period except as expressly permitted under Article XIV of sixty (60) days after the levy thereof,this Lease.
(fD) Death or disability of Tenant, if Tenant is a natural person, or the The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust observe or perform any other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, provision of this Lease to be observed or the Premises performed by Tenant contrary to the provision of Article 10 of this LeaseXxxxxx, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure other than those described in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (bSections 15.01(A), (d15.01(B) or 15.01 (eC) herein or any other subparagraphs of this Article 25.01above, which shall be governed by the notice and cure periods set forth in if such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from by Landlord to Tenant.
(E) The making by Tenant or its Guarantor of any general assignment for the benefit of creditors, provided thatthe filing by or against Tenant or its Guarantor of a petition under any federal or state bankruptcy or insolvency laws (unless, if in the case of a petition filed against Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured or its Guarantor the same is dismissed within such thirty sixty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (9060) days after filing); the giving appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets at the aforesaid written notice;
(j) Chronic Default by Tenant Premises or Tenant’s interest in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease or the Premises, when possession is not restored to Tenant within three sixty (360) days after written notice thereof for any three days; or the attachment, execution or other seizure of substantially all of Tenant’s assets located at the Premises or Tenant’s interest in this Lease or the Premises, if such seizure is not discharged within sixty (360) months (consecutive or nonconsecutive) during any period of twelve (12) months;days.
Appears in 1 contract
Events of Default by Tenant. The occurrence of any of the following events are referred to, collectively, as “Events shall constitute a material default and breach of Default” or, individually, as an “Event of Default”this Lease by Tenant:
(aA) The vacation failure by Tenant to pay Base Rent or make any other payment required to be made by Tenant hereunder as and when due.
(B) The abandonment of the Premises by Tenant or the vacation of the Premises by Tenant for fourteen (14) consecutive days (without the payment of Rent).
(C) The failure of by Tenant to occupy the Premises observe or perform any other provision of this Lease to be observed or performed by Tenant, other than those described in Sections 15.01(A) and 15.01(B) above, if such failure continues for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further provided, however, that in if the event nature of the default is such that it cannot be cured within the ten (10) day period, no default shall exist if Tenant fails commences the curing of the default within the ten (10) day period and thereafter in diligently prosecutes the same twelve to completion. The ten (1210) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period day notice described herein shall be re-instated;in lieu of, and not in addition to, any notice required under law now or hereafter in effect requiring that notice of default be given prior to the commencement of an unlawful detainer or other legal proceeding.
(cD) A The making by Tenant or its Guarantor of any general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant or its Guarantor of a petitionpetition under any federal or state bankruptcy or insolvency laws (unless, voluntary in the case of a petition filed against Tenant or involuntary, for reorganization, its Guarantor the same is dismissed within thirty (30) days after filing); the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets at the Premises or Tenant’s interest in this Lease or the filing of an involuntary petition by the creditors of TenantPremises, said involuntary petition remaining undischarged for a period of sixty when possession is not restored to Tenant within thirty (6030) days;
(e) Receivership, ; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets on located at the Premises, such attachment Premises or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation ’s interest in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this LeasePremises, unless if such assignment or sublease seizure is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for not discharged within thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (90) days after the giving of the aforesaid written notice;days.
(jE) Chronic Default Any material misrepresentation herein, or material misrepresentation or omission in any financial statements or other materials provided by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, Guarantor in connection with negotiating or any other payments required to be paid by Tenant under entering into this Lease within three (3) days after written notice thereof for or in connection with any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;Transfer under Section 14.01.
Appears in 1 contract
Events of Default by Tenant. The occurrence and continuance of any of the following events are referred toevents, collectively, as “Events of Default” or, individually, as acts or circumstances shall be and constitute an “"Event of Default”:" by Xxxxxx.
(a) The vacation or abandonment of the Premises Failure by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while pay in monetary default full any Rent payable under this Lease shall conclusively be deemed a vacation when due, and abandonment the continuance of the Premises);such failure for fifteen (15) days after Landlord gives Notice of such failure to Tenant.
(b) Failure by Tenant to pay observe, perform or comply with any installment of Rent the material terms, covenants, agreements or any conditions contained in this Lease (other monies due than as specified in Section 15.1(a), (c) or (d)) and payable hereunderthe continuance of such failure for forty-five (45) days after Landlord gives Notice of such failure to Tenant (which Notice shall specifically set out such failure), said or, when the cure reasonably requires more than forty-five (45) days, the failure continuing for a of Tenant to (i) commence to cure such failure within such period of three forty-five (345) business days, and (ii) to cure such default within a reasonable time, in no event to exceed one hundred twenty (120) days after the same is due, provided that with respect to the first late payment in any twelve (12) month period, it shall not be an Event written Notice of Default unless such payment is not received within three (3) calendar days after written notice thereof by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period to pay any Rent, then any late charge or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;default.
(c) A Abandonment of the Land by Xxxxxx and the continuance thereof for thirty (30) days after Landlord gives Notice of same to Tenant (excluding a permitted closing of the Hotel pursuant to Section 6.2 or because of a casualty or condemnation).
(d) Tenant or any general partner of Tenant makes or consents to a general assignment by Tenant for the benefit of creditors;
(d) The filing of , admits in writing that it is unable to pay its debts as such become due, or files a voluntary petition in any bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, insolvency proceedings; or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, against Tenant or other judicial seizure of substantially all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure any member of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by the Lease, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required the Lease;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Article 10 of this Lease, unless such assignment or sublease which is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure in the performance of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure discharged within ninety (90) days after of filing; or the giving appointment of a receiver of Xxxxxx's interest in the Land, the Lease, or all or substantially all of the aforesaid written notice;
assets of Tenant or of any member of Tenant which is not terminated within forty-five (j45) Chronic Default by days thereafter; or if a levy of execution or attachment shall be made against Tenant or any member of Tenant or its interest in the payment of Rent, Land or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this the Lease which is not discharged within three forty-five (345) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;issuance.
Appears in 1 contract
Samples: Deed of Lease
Events of Default by Tenant. The Each of the following events are referred to, collectively, as “Events acts or omissions of Default” or, individually, as Tenant or occurrences shall constitute an “Event of Default”:
(a) The vacation 15.1.1 Any failure or abandonment of the Premises refusal by Tenant (failure of Tenant to occupy the Premises for a period of ten (10) consecutive days while in monetary default under this Lease shall conclusively be deemed a vacation and abandonment of the Premises);
(b) Failure to pay any installment of Rent or any other monies due and payable payments or charges required to be paid hereunder, said failure continuing for or any portion thereof in a period of three timely manner, within five (35) business days after following written notice that the same is due, delinquent provided that with respect to if Landlord has previously delivered a delinquency notice on at least one (1) occasion during the first late payment in any preceding twelve (12) month period, no further notice shall be required during said twelve (12) month period following such notice for any failure to pay Rent or any other payments or charges when due hereunder and Tenant shall be in default if it fails to pay Rent or any other payments or charges within five (5) days of the date same is due.
15.1.2 Any failure by Tenant to perform or observe any other covenant or condition of this Lease to be performed or observed by Tenant (other than those described above or below in this Section 15.1) if such failure continues for a period of thirty (30) days following written notice to Tenant of such failure; provided, however, that in the event Tenant’s failure to perform or observe any covenant or condition of this Lease to be performed or observed by Tenant cannot reasonably be cured within thirty (30) days following written notice to Tenant, Tenant shall not be in default if Tenant commences to cure same within ten (10) days following receipt of such written notice and thereafter diligently prosecutes the curing thereof to completion following such written notice.
15.1.3 The filing or execution or occurrence of any one of the following by or against Tenant and/or Indemnifier: (i) an application or petition in bankruptcy or other insolvency proceeding, (ii) an application or petition or answer seeking relief under any provision of the Bankruptcy and Insolvency Act and/or the Companies Creditors’ Arrangement Act, (iii) an assignment for the benefit of creditors, (iv) an application or petition or other proceeding for the appointment of a trustee, receiver or liquidator of Tenant or Indemnifier or any of Tenant’s or Indemnifier’s property, (v) a proceeding by any authority for the dissolution or liquidation of Tenant or Indemnifier; or (vi) Tenant or Indemnifier commences any case, proceeding or other action seeking to have an order for relief entered on its behalf as a debtor or to adjudicate it a bankrupt or insolvent, or seeking winding up reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a manager, monitor, liquidator, receiver, trustee, receiver/manager custodian or other similar official for it or for all or of any part of its property (collectively a “Proceeding for Relief”); (vii) become the subject of any Proceeding for Relief; or (viii) Tenant or Indemnifier fails to maintain its legal existence, provided, however, so long as no other Event of Default is subsisting, if any event described in the foregoing subsections (i), (ii), (iv) or (vii) above (but for greater certainty, none of the other subsections) is involuntary and was commenced by a Person which is independent of Tenant and Indemnifier, then only for so long as each of Tenant and Indemnifier is actively and diligently contesting same and neither Tenant or Indemnifier (by its actions or omissions) consents to same, it shall not be an Event of Default unless such payment is not received within three said event remains in effect for more than ten (310) calendar days after it is initially entered or otherwise commences.
15.1.4 Any failure by Tenant or Indemnifier to execute and deliver any statement or document described in either Article 11 or Section 12.1 requested to be so executed and delivered by Landlord within the time periods specified therein applicable thereto, where such failure continues for five (5) days after delivery of written notice thereof of such failure by Landlord to Tenant; provided further that in the event Tenant fails thereafter in the same twelve (12) month period .
15.1.5 Any insurance required to pay any Rent, then any late charge be maintained pursuant to this Lease is not procured or Default Interest which were waived because of Tenant’s timely cure of its first Event of Default in such twelve (12) month period shall be re-instated;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially maintained at all of Tenant’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof,
(f) Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity (except to the extent Tenant changes the status of its legal existence through reincorporation in an alternate jurisdiction or reorganization due to a merger, acquisition or similar corporate transaction);
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and times in the manner required by the Leaseherein or such insurance shall be cancelled or terminated or shall expire or shall be reduced or materially changed, and/or failure by Tenant to deliver to or Landlord shall receive a notice of non-renewal of any financial statement within the time period such insurance, and in each case Tenant shall fail to obtain replacement insurance within five (5) Business Days after notice thereof from Landlord.
15.1.6 Any event of default or breach occurs (after applicable notice and cure periods, if any) under the manner required the Indemnity Agreement relating to this Lease;.
(h) An assignment 15.1.7 Tenant shall assign, sublease or subleaseotherwise Transfer or attempt to assign, sublease or attempted assignment otherwise Transfer all or sublease, any portion of Tenant’s interest in this Lease or the Premises by Property except as expressly permitted herein.
15.1.8 Tenant contrary to or any Indemnifier makes a sale in bulk of all or a portion of its assets. The parties hereto acknowledge and agree that all of the provision of Article 10 of notice periods provided in this LeaseSection 15.1 are in lieu of, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord’s consent thereto;
(i) Failure and not in addition to, the performance notice requirements of any of Tenant’s covenants, agreements or obligations hereunder (except those failures specified as Events of Default in subparagraphs (b), (d) or (e) herein or any other subparagraphs of this Article 25.01, which shall be governed by the notice and cure periods set forth in such other subparagraphs), which failure continues for thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such thirty (30) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within ninety (90) days after the giving of the aforesaid written notice;
(j) Chronic Default by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. “Chronic Default” means failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months;Applicable Laws.
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Samples: Lease Agreement (Equinix Inc)
