Common use of LESSEE'S OBLIGATION TO AVOID CREDITORS' PROCEEDINGS Clause in Contracts

LESSEE'S OBLIGATION TO AVOID CREDITORS' PROCEEDINGS. LESSEE shall --------------------------------------------------- not cause or give cause for the appointment of a trustee or receiver of the assets of LESSEE and shall not make any assignment for the benefit of creditors or become or be adjudicated insolvent. The allowance of any petition under any insolvency law, except under the Bankruptcy Code or the appointment of a trustee or receiver of LESSEE or LESSEE's guarantor, if any, or of the assets of either of them, shall be conclusive evidence that LESSEE caused or gave cause therefor, unless such allowance of the petition or the appointment of a trustee or receiver is vacated within ninety (90) days after such allowance or appointment. Any act described in this Paragraph shall be deemed a material breach of LESSEE's obligations hereunder and this Lease shall thereupon automatically terminate. LESSEE does, in addition, reserve any and all other remedies provided in this Lease or in law.

LESSEE'S OBLIGATION TO AVOID CREDITORS' PROCEEDINGS. LESSEE shall --------------------------------------------------- not cause or give cause for the appointment of a trustee or receiver of the assets of LESSEE and shall not make any assignment for the benefit of creditors or become or be adjudicated insolvent. The allowance of any petition under any insolvency law, except under the Bankruptcy Code or the appointment of a trustee or receiver of LESSEE or LESSEE's guarantor, if any, or of the assets of either of them, shall be conclusive evidence that LESSEE caused or gave cause therefor, unless such allowance of the petition or the appointment of a trustee or receiver is vacated within ninety (90) days after such allowance or appointment. Any act described in this Paragraph shall be deemed a material breach of LESSEE's obligations hereunder and this Lease shall thereupon automatically terminate. LESSEE does, in addition, reserve any and or all other remedies provided in this Lease or in law.

LESSEE'S OBLIGATION TO AVOID CREDITORS' PROCEEDINGS. LESSEE shall --------------------------------------------------- not cause or give cause for the appointment of a trustee or receiver of the assets of LESSEE and shall not make any assignment for the benefit of creditors or become or be adjudicated insolvent. The allowance of any petition under any insolvency law, except under the Bankruptcy Code or the appointment of a trustee or receiver of LESSEE Lessee or LESSEELessee's guarantor, if any, or of the assets of either of them, shall be conclusive evidence that LESSEE caused or gave cause therefor, unless such allowance of the petition or the appointment of a trustee or receiver is vacated within ninety (90) days after such allowance or appointment. Any act described in this Paragraph paragraph shall be deemed a material breach of LESSEE's obligations hereunder and this Lease shall thereupon automatically terminate. LESSEE does, in addition, reserve any and all other remedies provided in this Lease or in law.

LESSEE'S OBLIGATION TO AVOID CREDITORS' PROCEEDINGS. LESSEE shall --------------------------------------------------- not cause or give cause for the appointment of a trustee or receiver of the assets of LESSEE and shall not make any assignment for the benefit of creditors or become or be adjudicated insolvent. The allowance of any petition under any insolvency law, except under the Bankruptcy Code or the appointment of a trustee or receiver of LESSEE Lessee or LESSEELessee's guarantor, if any, or of the assets of either of them, shall be conclusive evidence that LESSEE caused or gave cause 33 -33- therefor, unless such allowance of the petition or the appointment of a trustee or receiver is vacated within ninety (90) days after such allowance or appointment. Any act described in this Paragraph paragraph shall be deemed a material breach of LESSEE's obligations hereunder and this Lease shall thereupon automatically terminate. LESSEE does, in addition, reserve any and all other remedies provided in this Lease or in law.