Lease by Tenant Sample Clauses

Lease by Tenant. Any guaranty executed concurrently herewith or subsequent to the date hereof shall be deemed a material part of the consideration for Landlord's execution of this Lease. In the event that any guarantor under the Guaranty is or becomes bankrupt or insolvent, makes an assignment for the benefit of creditors, or institutes or is the subject of any proceeding under the Bankruptcy Act or other similar law for the protection of creditors (or, if the guarantor is a partnership or consists of more than one person or entity, if any partner or the partnership or other such person or entity is or becomes bankrupt or insolvent, institutes any such proceeding, or makes an assignment for the benefit of creditors), then Landlord shall have the option to terminate this Lease upon thirty (30) days written notice unless Tenant, within such thirty-day period, provides Landlord with either (1) a substitute or additional guarantor satisfactory to Landlord and Landlord's Lender(s), or (2) adequate assurance of the performance of each and every obligation of Tenant hereunder, satisfactory to Landlord and Landlord's Lender.