Common use of INSOLVENCY OF TENANT Clause in Contracts

INSOLVENCY OF TENANT. an assignment by Tenant for the benefit of creditors; the filing by Tenant of a voluntary petition in bankruptcy; an adjudication that Tenant is bankrupt or the appointment of a receiver of the properties of Tenant; or the filing of any involuntary petition of bankruptcy and failure of Tenant to secure a dismissal of the petition within 90 days after filing shall constitute a default. If Tenant consists of two or more individuals or business entities, the events of default specified in this Section 13.3 shall apply to each individual unless within ten (10) days after an event of default occurs, the remaining individuals produce evidence satisfactory to Landlord that they have unconditionally acquired the interest of the one causing the default. If this Lease has been assigned, the events of default so specified shall apply only with respect to Tenant and to the one then exercising the rights of Tenant under this Lease.

INSOLVENCY OF TENANT. an assignment by Tenant for the benefit of creditors; the filing by Tenant of a voluntary petition in bankruptcy; an adjudication that Tenant is bankrupt or the appointment of a receiver of the properties of Tenant; or the filing of any an involuntary petition of bankruptcy and failure of Tenant to secure a dismissal of the petition within 90 30 days after filing filing; attachment of or the levying of execution on the leasehold interest and failure of Tenant to secure discharge of the attachment or release of the levy of execution within 10 days shall constitute a default. If Tenant consists of two or more individuals or business entities, the events of default specified in this Section 13.3 shall apply to each individual unless within ten (10) 10 days after an event of default occurs, the remaining individuals produce evidence satisfactory to Landlord that they have unconditionally acquired the interest of the one causing the default. If this Lease has been assigned, the events of default so specified shall apply only with respect to Tenant and to the one then exercising the rights of Tenant under this Lease.

INSOLVENCY OF TENANT. an assignment by Tenant for the benefit of creditors; the filing by Tenant of a voluntary petition in bankruptcy; an adjudication that Tenant is bankrupt or the appointment of a receiver of the properties of Tenant; or the filing of any involuntary petition of bankruptcy and failure of Tenant to secure a dismissal of the petition within 90 30 days after filing filing; attachment of or the levying of execution on the leasehold interest and failure of Tenant to secure discharge of the attachment or release of the levy of execution within 10 days shall constitute a default. If Tenant consists of two or more individuals or business entities, the events of default specified in this Section 13.3 shall apply to each individual unless within ten (10) 10 days after an event of default occurs, the remaining individuals produce evidence satisfactory to Landlord 'that they have unconditionally unconditionally- acquired the interest of the one causing the default. If this Lease the lease has been assigned, the events of default so specified shall apply only with respect to Tenant and to the one then exercising the rights of Tenant under this Leasethe lease.