Common use of INSOLVENCY OF TENANT Clause in Contracts

INSOLVENCY OF TENANT. 20.01 Either (a) the appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or (b) a general assignment by Tenant for the benefit of creditors, or (c) any action taken or suffered by Tenant under any insolvency or bankruptcy act shall, if any such appointment, assignment or action continues for a period of sixty (60) days, constitute a breach of this Lease by Tenant, and Landlord may at its election without notice, terminate this Lease and in that event be entitled to immediate possession of the Leased Premises and damages as provided below.

Appears in 1 contract

Samples: Lease Agreement (Southernbank Holdings Inc)

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INSOLVENCY OF TENANT. 20.01 Either 21.01 Either (a) the appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or (b) a general assignment by Tenant for the benefit of creditors, or (c) any action taken or suffered by Tenant under any insolvency or bankruptcy act shall, if any such appointmentappointments, assignment assignments or action continues for a period of sixty (60) days, constitute a breach of this Lease by Tenant, and Landlord may at its election without notice, terminate this Lease and in that event be entitled to immediate possession of the Leased Leases Premises and damages as provided below.

Appears in 1 contract

Samples: Lease Agreement (Innotrac Corp)

INSOLVENCY OF TENANT. 20.01 24.01 Either (aA) the appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or (bB) a general assignment by Tenant for the benefit of creditors, or (cC) any action taken or suffered by Tenant under any insolvency or bankruptcy act shall, if any such appointment, assignment assignments or action continues for a period of sixty thirty (6030) days, constitute a breach of this Lease by Tenant, Tenant and Landlord may at its election without notice, terminate this Lease and in that event be entitled to immediate possession of the Leased Premises and damages as provided belowherein.

Appears in 1 contract

Samples: Lease Agreement (Bright Technologies Com Inc)

INSOLVENCY OF TENANT. 20.01 19.01 Either (a) the appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or (b) a general assignment by Tenant for the benefit of creditors, or (c) any action taken or suffered by Tenant under any insolvency or bankruptcy act shall, if any such appointmentappointments, assignment assignments or action continues for a period of sixty (60) days, constitute a breach of this Lease by Tenant, and Landlord may at its election without with written notice, terminate this Lease and in that event be entitled to immediate possession of the Leased Premises and damages as provided below.

Appears in 1 contract

Samples: Lease Agreement (Radiant Systems Inc)

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INSOLVENCY OF TENANT. 20.01 15.01 Either (a) the appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or (b) a general assignment by Tenant for the benefit of creditors, or (c) any action taken or suffered by Tenant under any insolvency or bankruptcy act shall, if any such appointment, assignment or action continues for a period of sixty (60) days, constitute a breach of this Lease by Tenant, and Landlord may at its election elecfion without notice, terminate this Lease and in that event be entitled to immediate possession of the Leased Premises and damages as provided below.

Appears in 1 contract

Samples: Lease Agreement (Bestnet Communications Corp)

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