Common use of INSOLVENCY OF TENANT Clause in Contracts

INSOLVENCY OF TENANT. If the term of any of the goods or chattels of the Tenant shall be at any time seized or taken in execution or in attachment by any creditor of the Tenant, or if a writ of execution shall be issued against the goods and chattels of the Tenant and remain unsatisfied for ten days, or if the Tenant shall execute any chattel, mortgage or bxxx of sale of any of its goods or chattels, other than a bxxx of sale of goods in the ordinary course of the Tenant’s business, or if the Tenant shall make any assignment for the benefit of creditors of any bulk sale or shall be adjudged bankrupt or insolvent by any court of competent jurisdiction under any legislation then in force of shall take the benefit of any Act that may be in force for bankrupt or insolvent debtors or shall attempt to abandon the Premises, or to sell or dispose of its goods and chattels so that there would not remain after such sale or disposal a sufficient distress on the Premises in the opinion of the Landlord for the then accruing rent, then the current month’s rent, together with the rent for the three months next ensuing and all additional rent and other sums payable hereunder for the said three months next ensuing shall immediately become due and payable, and the term shall, at the option of the Landlord forthwith be determined and in each of the above cases such accelerated rent, additional rent and other amounts shall be recoverable by the Landlord as if it were rent in arrears.

INSOLVENCY OF TENANT. If the term of any of the goods or chattels of the Tenant shall be at any time seized or taken in execution or in attachment by any creditor of the Tenant, or if a writ of execution shall be issued issue against the goods and chattels of the Tenant and remain unsatisfied for ten days, or if the Tenant shall execute any chattel, chattel mortgage or bxxx xxxx of sale of any of its goods or chattels, other than a bxxx xxxx of sale of goods in the ordinary course of the Tenant’s business, or if the Tenant shall make any assignment for the benefit of creditors of or any bulk sale or shall be adjudged bankrupt or insolvent by any court of competent jurisdiction under any legislation then in force of or shall take the benefit of any Act that may be in force for bankrupt or insolvent debtors or shall attempt to abandon the Leased Premises, or to sell or dispose of its goods and chattels so that there would not remain after such sale or disposal a sufficient distress on the Leased Premises in the opinion of the Landlord for the then accruing rent, then the current month’s rent, rent together with the rent for the three months next ensuing and all additional rent and other sums payable hereunder for the said three months next month ensuing and taxes payable hereunder by the Tenant for the then current year, including local improvement taxes ( to be reckoned on the rate for the preceding year in case the rate should not have been fixed for the current year) shall immediately become due and payable, and the term shall, at the option of the Landlord Landlord, forthwith be determined determined, and in each of the above cases such accelerated rent, additional rent and other amounts taxes shall be recoverable by the Landlord as if it were rent in arrears.

INSOLVENCY OF TENANT. If the term of Term or any of the goods or chattels of the Tenant shall be at any time seized or taken in execution or in attachment by any creditor of the Tenant, or if a writ of execution shall be issued against the goods and chattels of the Tenant and remain unsatisfied for ten days, or if the Tenant shall execute executes any chattel, mortgage or bxxx conveyance of sale of any of its goods or chattels, other than a bxxx xxxx of sale of goods in the ordinary course of the Tenant’s 's business, or if the Tenant shall make any assignment for the benefit of creditors of or any bulk sale or shall be adjudged bankrupt or insolvent by any court of competent jurisdiction under any legislation then in force of or shall take the benefit of any Act (that may be in force force) for bankrupt or insolvent debtors or shall attempt to abandon the Leased Premises, or to sell or dispose of its his goods and chattels so that there would not remain after such sale or disposal a sufficient distress on the Leased Premises in the opinion of the Landlord for the then accruing rent, then the current month’s rent's Base Rent, together with the rent Base Rent for the three months next ensuing and all additional rent and other sums Additional Rent payable hereunder for by the said three months next ensuing Tenant shall immediately become due and payable, and the term Term shall, at the option of the Landlord Landlord, forthwith be determined terminated and in each of the above cases such accelerated rentBase Rent, additional rent and other amounts Additional Rent shall be recoverable by the Landlord as if it were rent in arrears.;