Common use of Lessor Events of Default Clause in Contracts

Lessor Events of Default. The following events shall constitute Lessor Events of Default (each a "Lessor Event of Default") (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any Governmental Authority) and each such Lessor Event of Default shall be deemed to exist and continue so long as, but only as long as, it shall not have been remedied, or waived by Lessee in writing: (a) Lessor shall fail to procure, carry and maintain any insurance required by Section 9(i) to be carried and maintained by Lessor; (b) Lessor shall fail to perform or observe, breach or be in default under any other covenant, condition or agreement to be performed or observed by Lessor hereunder and such failure shall continue unremedied for a period of thirty (30) Business Days after written notice thereof by the Lessee; PROVIDED the existence of any Defect shall not constitute a Lessor Event of Default so long as Lessor promptly commences and diligently complies with its warranty obligations under Section 5 of Exhibit E; (c) Any material representation or warranty made by Lessor herein or in any document or certificate furnished by Lessor in connection herewith or pursuant hereto shall prove to have been incorrect in any material respect when made; (d) Lessor shall consent to the appointment of a custodian, receiver, trustee or liquidator (or other similar official) of itself or of a substantial part of its property, or Lessor shall be unable to pay its debts generally as they become due, or shall make a general assignment for the benefit of creditors, or Lessor shall file a voluntary petition in bankruptcy or a voluntary petition or an answer seeking reorganization in a proceeding under any bankruptcy law (as now or hereafter in effect) or an answer admitting the material allegations of a petition filed against Lessor in any such proceeding, or such party by voluntary petition, answer or consent shall seek relief as debtor under the provisions of any other present or future bankruptcy or other similar law providing for the reorganization or winding-up of corporations, or providing for an agreement, composition, extension or adjustment with its creditors or Lessor shall take any corporate action to authorize any of the foregoing; or (e) A petition against Lessor in a proceeding under any bankruptcy or other insolvency law (as now or hereafter in effect) shall be filed, and any decree or order adjudging Lessor a bankrupt or insolvent in such proceeding shall remain in force undismissed and unstayed for a period of sixty (60) days after such adjudication or, in case the approval of such petition by a court of competent jurisdiction is required, the petition as filed or amended shall be approved by such a court as properly filed and such approval shall not be withdrawn and the proceeding shall not be dismissed within sixty (60) days thereafter, or if, under the provisions of any law providing for reorganization or winding-up of corporations which may apply to Lessor, any court of competent jurisdiction shall enter an order or decree assuming custody or control of such party or of any substantial part of its property and such custody or control remains in full force unrelinquished, unstayed and unterminated for a period of thirty (30) days.

Lessor Events of Default. The following events shall constitute Lessor Events of Default (each a "Lessor Event of Default") (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any Governmental Authority) and each such Lessor Event of Default shall be deemed to exist and continue so long as, but only as long as, it shall not have been remedied, or waived by Lessee in writing: (a) Lessor shall fail to procure, carry and maintain any insurance required by Section 9(i) to be carried and maintained by Lessor; (b) Lessor shall fail to perform or observe, breach or be in default under any other covenant, condition or agreement to be performed or observed by Lessor hereunder and such failure shall continue unremedied for a period of thirty (30) Business Days after written notice thereof by the Lessee; PROVIDED provided the existence of any Defect shall not constitute a Lessor Event of Default so long as Lessor promptly commences and diligently complies with its warranty obligations under Section 5 of Exhibit E; (c) Any material representation or warranty made by Lessor herein or in any document or certificate furnished by Lessor in connection herewith or pursuant hereto shall prove to have been incorrect in any material respect when made; (d) Lessor shall consent to the appointment of a custodian, receiver, trustee or liquidator (or other similar official) of itself or of a substantial part of its property, or Lessor shall be unable to pay its debts generally as they become due, or shall make a general assignment for the benefit of creditors, or Lessor shall file a voluntary petition in bankruptcy or a voluntary petition or an answer seeking reorganization in a proceeding under any bankruptcy law (as now or hereafter in effect) or an answer admitting the material allegations of a petition filed against Lessor in any such proceeding, or such party by voluntary petition, answer or consent shall seek relief as debtor under the provisions of any other present or future bankruptcy or other similar law providing for the reorganization or winding-up of corporations, or providing for an agreement, composition, extension or adjustment with its creditors or Lessor shall take any corporate action to authorize any of the foregoing; or (e) A petition against Lessor in a proceeding under any bankruptcy or other insolvency law (as now or hereafter in effect) shall be filed, and any decree or order adjudging Lessor a bankrupt or insolvent in such proceeding shall remain in force undismissed and unstayed for a period of sixty (60) days after such adjudication or, in case the approval of such petition by a court of competent jurisdiction is required, the petition as filed or amended shall be approved by such a court as properly filed and such approval shall not be withdrawn and the proceeding shall not be dismissed within sixty (60) days thereafter, or if, under the provisions of any law providing for reorganization or winding-up of corporations which may apply to Lessor, any court of competent jurisdiction shall enter an order or decree assuming custody or control of such party or of any substantial part of its property and such custody or control remains in full force unrelinquished, unstayed and unterminated for a period of thirty (30) days.