Insolvency or Bankruptcy of Tenant. In the event Tenant makes an assignment for the benefit of .creditors, or a receiver of Tenant’s assets is appointed, or Tenant files a voluntary petition in any bankruptcy or insolvency proceeding, or an involuntary petition in any bankruptcy or insolvency proceeding is filed against Tenant and the same is not discharged within SIXTY (60) days, or Tenant is adjudicated as bankrupt, Landlord shall have the option of terminating this Lease by sending written notice to Tenant of such termination, and upon such written notice being given by Landlord to Tenant, the Term of this Lease shall, at the option of Landlord, end and Landlord shall be entitled to immediate possession of the Demised Premises and to recover damages from Tenant in accordance with the provisions in Article XXIII thereof.
Insolvency or Bankruptcy of Tenant. If at any time prior to the Commencement Date of this Lease, or any time during the term hereby demised, there shall be filed by or against Tenant in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenants property, and if within thirty (30) days hereof Tenant fails to secure a discharge thereof, or if Tenant makes an assignment for the benefit of creditors, or petitions for or enters into a plan under the Bankruptcy Code (as defined below), this Lease, at the option of Landlord, may be cancelled and terminated by notice of cancellation to Tenant effective three (3) days thereafter, in which event neither Tenant nor Guarantor nor any person claiming through or under Tenant or Guarantor by virtue of any statute or of an order of any court shall be entitled to possession, or to remain in possession of the Premises, and Landlord, in addition to the other rights and remedies Landlord has by virtue of any other provision herein or elsewhere in this Lease contained or by virtue of any statue or rule of law may retain as liquidate damages any Rent, security, deposit or monies received by Landlord from Tenant or others in behalf of Tenant. If Tenant becomes a debtor within the meaning of the Bankruptcy Reform act of 1978, as the same may from time to time be amended (“Bankruptcy Code”) and notwithstanding any other provisions of this Lease, this Lease and Landlord’s and Tenant’s rights are then made subject to such Bankruptcy Code, it is covenanted and agreed that the failure of Tenant or its representative appointed in accordance with said Bankruptcy Code to furnish accurate information and adequate assurances as to the source of Rent and other consideration due under this Lease, or conduct or have conducted at the Premises Tenant’s business as provided in Section 6 hereof, shall in any case each be deemed a default under this Section 20, and Landlord shall have all rights and remedies herein afforded to it in the event of any default by Tenant under this Lease. Tenant’s interest in this Lease shall not pass to any trustee or receiver or assignee for the benefit of creditors or operation of law except as may be specially provided by the Bankruptcy Code.
Insolvency or Bankruptcy of Tenant. If at any time during the term of this Lease, the Tenant shall be adjudged bankrupt or insolvent by a federal or state court of competent jurisdiction, at the option of the Landlord, such adjudication shall terminate and cancel this Lease without any further action on the part of either party hereto, and the Landlord may at once re-enter and take possession of the premises.
Insolvency or Bankruptcy of Tenant. If (I) Tenant or any guarantor of this Lease shall become bankrupt of insolvent, or file a voluntary petition seeking relief from creditors under the Federal Bankruptcy Act, as amended, or any state statute, or (II) a receiver or trustee is appointed for Tenant or any guarantor of this Lease, or for any substantial portion of Tenant's or such guarantor's assets, and such appointment not be revoked within ten (10) days, or (III) a court of competent jurisdiction adjudicates Tenant or any guarantor of this Lease to be a bankrupt in any involuntary proceedings, and if Tenant fails to provide, within three (3) days of Landlord's request therefor, adequate assurance of Tenant's or such guarantor's ability promptly to cure all defaults of Tenant under this Lease, if any, and of Tenant's future performance of this Lease, then such act, failure or event shall constitute a default of Tenant hereunder. Notwithstanding any other provisions contained in this Lease, in the event the Lessee is closed or taken over by the banking authority of the State of Kentucky, or other bank supervisory authority, the Lessor may terminate the Lease only with the concurrence of such banking authority or other bank supervisory authority, and any such authority shall in any event have the election either to continue or to terminate the Lease; provided that in the event this
Insolvency or Bankruptcy of Tenant. The appointment of a receiver ---------------------------------- to take possession of all or substantially all of the assets of Tenant, or an assignment by Tenant for the benefit of creditors, or any action taken or suffered by Tenant under any insolvency, bankruptcy or reorganization act, shall at Landlord's option, constitute a breach of this Lease by Tenant. Upon the happening of any such event or at any time thereafter, this Lease shall terminate five (5) days after written notice of termination from Landlord to Tenant. In no event shall this lease be assigned or assignable by operation of law or by voluntary or involuntary bankruptcy proceedings or otherwise, and in no event shall this Lease or any rights or privileges hereunder be an asset of Tenant under any bankruptcy, insolvency or reorganization proceedings.
