Reliefs and remedies. In case a party to this Agreement breached any of its provisions, the injured party shall be entitled to all the reliefs set forth in the Contracts Law (Remedies for Breach of Contract), 5731-1970 even in the event this Agreement grants a specific relief or remedy for the said breach, and without derogating from the provisions set forth in this Agreement or any law. 22.1. Without derogating from its right to damages for a higher rate or any other relief, in the event of a fundamental breach of this Agreement by the Lessee, the Lessor shall be entitled to pre-estimated liquidated damages in an amount equal to the Rent, the parking fees and the Management Fees in [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] addition to VAT, for one month, when the said amount is linked to the Basic Index and until the Index known at the time of payment, whether the Lessor decided to perform the Agreement and whether the Lessor decided to terminate this Agreement. The parties declare that they consider the said sum as agreed and adequate compensation for the damage that the parties envision as the probable damage caused by a fundamental breach of this Agreement by the Lessee. 22.2. Breach of any of the provisions set forth hereunder of this Agreement shall be deemed as a fundamental breach of this Agreement: 22.2.1.1. Breach of any of the provisions set forth in Sections 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 and 26 of this Agreement including all sub-sections thereof. 22.2.1.2. Default in any payment the Lessee is obligated to pay in accordance with this Agreement for a period greater than seven (7) days. 22.3. In any event in which the Lessee ceases the use of the Leased Premises or the Lease Agreement for any reason, the Lessee shall be obligated to pay all payments applicable to the Lessee by virtue of this Agreement until expiration of the Term of Lease. 22.4. The Lessor shall be entitled, however not obligated, to terminate this Agreement, notwithstanding any provision in the Agreement regarding the Term of Lease, and demand from the Lessee to vacate forthwith the Leased Premises upon delivery of a ten (10) days’ prior and written notice (hereinafter: “Termination Notice”) and return possession in the Leased Premises to the Lessor as stated in this Section 22 and in Section 23 of this Agreement upon the occurrence of any of the following events: 22.4.1.1. The Lessee committed a fundamental breach of this Agreement or any of its fundamental provisions and failed to cure the breach in 14 days as of the date of receiving written notice from the Lessor demanding to cure the breach. [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] 22.4.1.2. The Lessee breached this Agreement and the breach is immaterial and failed to cure the breach in 30 days as of the date the Lessee received written notice from the Lessor demanding to cure the breach. 22.4.1.3. A motion was filed with the competent court for the liquidation of the Lessee, for the appointment of a trustee, liquidator, temporary liquidator, a receiver for a material part of its assets and/or the imposition of an attachment on material part of its assets and an order was issued in accordance with this motion or the motion was not dismissed or canceled in 90 days as of the date of filing thereof with the court and/or in case the Lessee filed an application for its liquidation or its declaration as bankrupt and/or for conducting a composition with creditors. 22.4.1.4. The guarantees and/or the other securities that were provided in accordance with the provisions set forth in Section 24, in whole or in part, for the purpose of performing this Agreement, to the extent provided, expired, were canceled or were declared as null and void by the competent court for any reason. 22.5. In the event a Termination Notice was delivered, the provisions set forth in Sections 22-23 hereunder shall apply and the following provisions shall take effect: 22.5.1.1. The Lessee shall be responsible for returning to the Lessor and the Management Company, immediately upon receiving a peremptory judgment, all expenses, damages and losses that were caused to the Lessor and the Management Company due to the breach of the Agreement by the Lessee, as ruled in the judgment. 22.5.1.2. The Lessee shall not be entitled to object in any manner and/or try and delay and/or prevent an engagement between the Lessor and any other Lessee and/or try and prevent or delay the lease of the Leased Premises or a part thereof to another substitute lessee. The aforesaid provisions shall apply both with respect to the [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] relationship between the Lessor and the Lessee and with respect to the relationship between the Lessee and the substitute lessee and shall be deemed, inter alia, as contractual provisions made in favor of a third-party. 22.6. Any default in payment by any party, beyond the period specified in since 22.1.1.2, shall incur interest at the maximum rate permissible by law at the time, and in case there is no limitation by law on the interest rate, interest in arrears at the maximum rate as instructed by the Bank for overdraft at the time for the period of default, without derogating from the right of the entitled party to compensation at a higher rate or any other relief.
Appears in 3 contracts
Samples: Lease Agreement (PolyPid Ltd.), Lease Agreement (PolyPid Ltd.), Lease Agreement (PolyPid Ltd.)
Reliefs and remedies. 24.1. In case a party to the event of the breach of any of the provisions of this Agreement breached any by either of its provisionsthe parties, the injured party shall be entitled have the right to receive all of the reliefs set forth in the Contracts Law (Remedies for Breach of Contract)) Law, 5731-1970 even and in the event Lease and Loan Law, 5731-1971, unless such reliefs were explicitly made conditional in this Agreement. Such reliefs shall be granted even if this Agreement grants a affords specific relief or remedy for such a breach and nothing in this Agreement shall be interpreted as derogating from such right of the said breach, injured party and all without derogating from the provisions set forth in of this Agreement or any applicable law.
22.124.2. Without derogating from its the Lessor’s right to damages for a receive higher rate compensation or any other relief, in the event of a fundamental material breach of this Agreement by the Lessee, the Lessor Lessor, after providing the Lessee with written notice in such regard and provided that such breach was not remedied within 14 days of the Lessee’s receipt of such notice, shall be entitled have the right to receive fixed and pre-estimated liquidated damages determined compensation in an the amount equal set forth in Appendix J to this Agreement, with such amount to be Linked to the Rent, the parking fees and the Management Fees in [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] addition to VAT, for one month, when the said amount is linked to the Basic Base Index and until through the Index known at on the time date of paymentactual repayment, regardless of whether the Lessor decided elected to perform maintain or terminate the Agreement and whether the Lessor decided to terminate this Agreement. The parties declare represent that they consider the said sum as such amount to be agreed and adequate appropriate compensation for the damage that the parties envision as the probable damage caused by consider to be a fundamental likely result of a material breach of this Lease Agreement by the Lessee.
22.224.3. Breach The breach of any of the following provisions of this Agreement shall be considered to be a material breach thereof:
24.3.1. The breach of any of the provisions set forth hereunder of this Agreement shall be deemed as a fundamental breach of this Agreement:
22.2.1.1. Breach of any of the provisions set forth in Sections sections 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 and 26 of this Agreement Agreement, including all any of the sub-sections thereof and subject to any amendments, supplements and changes made to such sections in Appendix J.
24.3.2. A delay of more than 7 days in making any payment for which the Lessee is responsible hereunder and/or the failure to make timely payment of 2 consecutive payments and/or failure to make timely payment of any 3 payments for which the Lessee is responsible hereunder during the entire Term of the Lease.
24.3.3. 3 or more breaches of any of the provisions of section 17, including the sub-sections thereof.
22.2.1.2. Default , during one year of the Lease, and in any payment the Lessee is obligated to pay in accordance with this Agreement for a period greater than seven (7) event of an ongoing breach, the existence of such breach during 3 or more consecutive days.
22.324.3.4. Nothing in this section shall derogate from the provisions of section 25 below.
24.4. In any event in which the Lessee ceases the use of to operate its business in the Leased Premises Property or terminates the Lease Agreement for any reasonreason whatsoever, subject to the terms of this Agreement and provided that the Lessor makes reasonable efforts to minimize its damages as required by law, the Lessee shall be obligated to pay all payments applicable payment to the Lessee which it is subject by virtue of the provisions of this Agreement until expiration for the duration of the Term of the Lease.
22.424.5. The Notwithstanding any provision of this Agreement in respect of the Term of the Lease, the Lessor shall be entitled, however not obligated, have the right to terminate this Agreement, notwithstanding any provision in the Agreement regarding the Term of Lease, and demand from that the Lessee to immediately vacate forthwith the Leased Premises Property upon delivery of a ten (10) 7 days’ prior and written advance notice (hereinafter: the “Termination Notice”) and return possession in the Leased Premises thereof to the Lessor as stated set forth in this Section 22 and in Section 23 section 25 of this Agreement upon the occurrence of any of the following eventsfollowing:
22.4.1.124.5.1. The Lessee committed a fundamental breach of materially breached this Agreement or any of its fundamental material provisions and failed did not remedy such breach after receiving a demand in writing to cure the breach in 14 days as of the date of receiving written notice from the Lessor demanding to cure the breach. [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed]do so.
22.4.1.224.5.2. The Lessee breached this Agreement in non-material fashion and the did not remedy such breach is immaterial and failed within 15 days of it being demanded to cure the breach do so in 30 days as of the date writing.
24.5.3. The Lessee passed away and/or the Lessee received written notice from or the Lessor demanding to cure parent company guaranteeing this Agreement became the breach.
22.4.1.3. A motion was subject of a request filed with the competent court for the liquidation of the Lesseeits liquidation, for declaration as bankrupt, becoming subject to the appointment of a trusteean executor, liquidator, temporary liquidator, a pre-liquidator, receiver for a material portion of its assets and/or for the creation of a lien on a material part of its assets and/or the imposition of an attachment on material part of its assets and an a court order was issued in accordance with this motion such request or the motion such request was not dismissed cancelled or canceled in 90 denied within 45 days as of the date of its filing thereof with the court and/or in case the event that the Lessee filed an application or the parent company guaranteeing this Agreement submitted a request for the liquidation of the Lessee or for the declaration of its liquidation or its declaration as bankrupt bankruptcy and/or for conducting the declaration of its bankruptcy and/or for an arrangement with its creditors and/or for a composition with creditors.
22.4.1.4stay of proceedings. The guarantees and/or Notwithstanding the other securities that were provided in accordance with the provisions set forth in Section 24aforesaid, in whole or the event of the occurrence of any of the aforementioned events in part, for respect of any of the purpose guarantors of performing this Agreement, the Lessee shall be entitled to produce an alternative guarantor who shall be approved by the extent provided, expired, Lessor within 15 days of the occurrence of such event.
24.5.4. The other guarantees and/or security interests provided for the full or partial performance of this Agreement expired or were canceled cancelled or were declared as null and void by the competent court to be cancelled or invalid for any reasonreason whatsoever, or were foreclosed on by the Lessor and/or the Management Company without the Lessee substituting for them and re-providing them in timely fashion.
22.524.6. In the event that a Termination Notice was deliveredprovided by the Lessor for the reasons set forth above, the provisions set forth in Sections 22-23 hereunder of section 25 below shall apply in addition to the following provisions:
24.6.1. The Lessor and the following provisions Management Company shall take effect:have a right of lien over all of the Lessee’s equipment and inventory in the Leased Property, as well as any effects belonging to additional sub-lessees, if any, and/or to any other user then in the Leased Property by consent and/or not by consent and/or of any subsidiary and/or parent company and/or a company of any kind otherwise affiliated with the Lessee and/or in the Building as a security interest for the payment of all of the compensation and funds owed the Lessor and/or the Management Company by the Lessee in such a case. The Lessor and/or the Management Company shall have the right to appropriate all of the equipment and inventory and/or collect from them by selling them or by any other means in order to repay the Lessee’s debts owed them, in the event that such debts are not paid within 15 days of the Lessee’s receipt of a first written demand in such regard. For the removal of doubt, it is hereby clarified that the Lessor and/or the Management Company shall not be subject to any bailee liability, whether as a bailee for reward or a gratuitous bailee.
22.5.1.124.6.2. The Lessee shall be responsible for returning to repaying all of the Lessor and the Management Company, immediately upon receiving a peremptory judgment, all expenses, damages and reasonable losses that were caused to incurred by the Lessor and the Management Company due to as a result of the Lessee’s breach of the Agreement by immediately upon first written demand, subject to the Lessee, as ruled in the judgmentsubmission of relevant receipts and documentation.
22.5.1.224.6.3. The Lessee shall not be entitled have no right to object in any manner way and/or try and to attempt to delay and/or or prevent an any engagement between the Lessor and any other Lessee an alternative lessee and/or try and to attempt to prevent or delay the lease of the Leased Premises or a part thereof Property to another substitute any alternative lessee. The aforesaid provisions All of the above shall apply both with respect to the [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] relationship between the Lessor and the Lessee and with respect to the relationship between the Lessee and the substitute a sub-lessee and shall inter alia be deemed, inter alia, as considered contractual provisions made in favor for the benefit of a third-third party.
22.624.7. Any default In the event that the Lessee is more than 7 days late in making any payment by any partyowed the Lessor under this Agreement, beyond the period specified in since 22.1.1.2, Lessee shall incur pay the Lessor on account of such late amount Linkage Differentials from the Index as well as interest at a rate equaling the maximum higher of the then current market interest rate permissible by law at the timetime of the breach or the rate employed by Bank Leumi L’Israel Ltd. at the time of actual payment for Index Linked loans plus 10% per year, and calculate as of the date on which the Lessee was to pay the amount in case there is no limitation by law arrears until the date on which it actually paid such amount, or, at the Lessor’s discretion, the Lessee shall pay the Lessor interest rate, interest on account of the amount in arrears at the maximum rate as instructed employed by Bank Leumi L’Israel Ltd. for overdrawn lines of credit in general current loan accounts, compounded monthly (hereinafter: “Arrears Interest”), including associated fees charged by the Bank for overdraft at the time Bank. The Arrears Interest shall be calculated for the period of defaultfrom the date on which the Lessee was to have paid the Lessor the amount in arrears until the date that the Lessee actually paid such amount, all without derogating from the right of the entitled party Lessor and/or Management Company to compensation at receive a higher rate level of compensation or to pursue any other reliefremedy. Written confirmation by one of the Bank’s branch managers regarding the interest rate shall constitute final and sufficient proof with regard to the level of such rate.
Appears in 2 contracts
Samples: Lease Agreement (Chiasma, Inc), Lease Agreement (Chiasma, Inc)
Reliefs and remedies. In case If a party to this Agreement breached Contract breaches any of its provisions, the injured party shall be entitled to all the reliefs remedies set forth out in the Contracts Law (Remedies for Breach of Contract), ) 5731-1970 1970, even in the event cases where this Agreement grants Contract provides a specific relief or remedy for the said breachsuch brief, and this without derogating from the provisions set forth in of this Agreement Contract or the provisions of any law.
22.1. Without derogating from its right 18.1 If any breach of any provision of the provisions listed below is not rectified within 14 (fourteen) days after a written notice of the breach was sent shall be considered to damages for a higher rate or any other relief, in the event of be a fundamental breach of this Agreement Contract.
18.1.1 Any breach of the provisions of sections 5,6,7,8,9,10,15.3, 15.5, 15.6, 16, 19 of this Contract, including all subsections of those sections.
18.1.2 Delay of any payment which is payable by the Lessee, Lessee pursuant to the provisions of section 6,9,10 of this Contract (including all subsections thereof) which is longer than seven (7) days regarding any delay and/or more than three (3) cumulative delays in any payments which are payable by the Lessee over the course of one year of the lease.
18.2 The Lessor shall be entitled to pre-estimated liquidated damages in an amount equal cancel this Contract, regardless of any provision of the Contract relating to the RentPeriod of the Lease, and to demand from the parking fees and Lessee to vacate the Management Fees Leased Premises immediately by giving it a ten-day (10) advance notice in [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] addition to VATwriting, for one month, when the said amount is linked to the Basic Index and until the Index known at the time of payment, whether the Lessor decided to perform the Agreement and whether the Lessor decided to terminate this Agreement. The parties declare that they consider the said sum as agreed and adequate compensation for the damage provided that the parties envision as the probable damage caused by a fundamental breach of this Agreement was not rectified by the Lessee.Lessee within those said 10 days (hereinafter – “the Cancellation Notice”) and restore its possession of the Leased Premises as set out in sections 15.4, 16 and 18 in each of the following cases:
22.2. 18.2.1 Breach of any of the provisions set forth hereunder of this Agreement shall be deemed as a fundamental breach of this Agreement:
22.2.1.1. Breach of any of the provisions set forth in Sections 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 and 26 of this Agreement including all sub-sections thereof.
22.2.1.2. Default in any payment Contract by the Lessee is obligated to pay in accordance with this Agreement for a period greater than seven (7) days.
22.3. In any event in which the Lessee ceases the use of the Leased Premises or the Lease Agreement for any reason, the Lessee shall be obligated to pay all payments applicable to the Lessee by virtue of this Agreement until expiration of the Term of Lease.
22.4. The Lessor shall be entitled, however not obligated, to terminate this Agreement, notwithstanding any provision in the Agreement regarding the Term of Lease, and demand from the Lessee to vacate forthwith the Leased Premises upon delivery of a ten (10) days’ prior and written notice (hereinafter: “Termination Notice”) and return possession in the Leased Premises to the Lessor as stated in this Section 22 and in Section 23 of this Agreement upon the occurrence of any of the following events:
22.4.1.1. The Lessee committed a fundamental breach of this Agreement or any of its fundamental provisions and failed to cure the breach in 14 days as of the date of receiving written notice from the Lessor demanding to cure the breach. [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed]
22.4.1.2. The Lessee breached this Agreement and where the breach is immaterial and failed to cure not a fundamental breach, but it was not rectified by the Lessee within 15 days from the date on which a written notice regarding the breach in 30 days as of was issued to the date Lessee.
18.2.2 An application was filed to a competent Court to liquidate the Lessee received written notice from the Lessor demanding or to cure the breach.
22.4.1.3. A motion was filed with the competent court for the liquidation of the Lessee, for the appointment of appoint a trustee, a liquidator, a temporary liquidator, a pre-liquidator, receiver for to a material part of its assets and/or the imposition of an attachment on material part portion of its assets and an order is issued pursuant to the application and that order was not cancelled within 60 days from the date on which it was issued in accordance with this motion or by the motion was not dismissed or canceled in 90 days as of the date of filing thereof with the court Court and/or in case if the Lessee filed an application for its liquidation or its declaration as bankrupt and/or for conducting the drawing out of a composition with creditorscreditors arrangement.
22.4.1.4. The guarantees and/or 18.2.3 Some or all of the other securities that were provided in accordance with to secure the fulfillment of the provisions set forth in Section 24, in whole of this Contract expired and were not renewed by the Lessee or in part, for the purpose of performing this Agreement, to the extent provided, expired, were canceled cancelled or were declared as void or null and void by the competent court for any reason.
22.5reason whatsoever. In the event a Termination Notice was delivered, the provisions set forth in Sections 22-23 hereunder shall apply and the The following provisions shall take effectapply if a Cancellation Notice was issued:
22.5.1.1. 18.2.4 The Lessee shall be responsible for returning to the Lessor and the Management Company, immediately upon receiving a peremptory judgment, all expenses, damages and losses that were caused to will reimburse the Lessor and the Management Company in respect of all the expenses, damages and losses caused to them due to the breach of the Agreement Contract by the Lessee; such reimbursement shall take place immediately upon the Lessee’s receiving the first demand for reimbursement.
18.2.5 Any delay in payment on behalf of the Lessee shall bear delinquent interest at the rate charged by the bank for overdrafts on that date in respect of the period of arears, or as selected by the Lessee, as ruled in the judgment.
22.5.1.2. The Lessee shall not be entitled to object in any manner and/or try and delay and/or prevent an engagement between the Lessor and any other Lessee and/or try and prevent or delay the lease of the Leased Premises or a part thereof to another substitute lessee. The aforesaid provisions shall apply both with respect linkage differences to the [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] relationship between the Lessor and the Lessee and with respect to the relationship between the Lessee and the substitute lessee and shall be deemed, inter alia, as contractual provisions made in favor of a third-party.
22.6. Any default in payment by any party, beyond the period specified in since 22.1.1.2, shall incur last known index plus interest at the maximum rate permissible by law at the time, and in case there is no limitation by law on the interest rate, interest in arrears at the maximum rate as instructed charged by the Bank bank for overdraft delinquency in repayment of Index-linked loans at the that time – to be calculated for the period of default, without derogating as from the date on which payment was supposed to be made through the date of actual payment; this will not derogate from the Lessee’s right of the entitled party to receive higher compensation at a higher rate or any other relief. Written confirmation regarding the said interest rate, issued by one of the managers of the bank’s branches, shall constitute evidence for the said interest rate.
Appears in 1 contract
Reliefs and remedies. In case 21.1. If a party to this Agreement breached hereto is in breach of any of its provisionsthe provisions hereof, the injured party shall be entitled to all the reliefs set forth in prescribed by the Law of Contracts Law (Remedies for Breach of Contract), 57315730-1970 1970, even in the event this Agreement grants that a specific relief or remedy specific for the said breachsuch breach are granted herein, and this being without derogating from the provisions set forth in this Agreement hereof or the provisions of any law.
22.121.2. Without derogating from its It is agreed that the Lessor shall have a right to liquidated damages for a higher rate or any other reliefin advance, in the event of a fundamental breach of this Agreement hereof by the Lessee, at a sum equal to 200% of the monthly lease fees, for each month of delay (and for part of a month – part of the compensation), this being in addition to the lease fees and the current payments on the Leasehold (such as rates, electricity, et cetera), provided that: (A) the Lessor has given the Lessee written notice within twenty- one days of the day on which he became aware of the fundamental breach, specifying the breach; and (B) that the Lessee has not cured the breach within such period as is specified in the aforesaid notice.
21.3. The scope of such agreed-upon compensation is prescribed by the parties, after they have properly evaluated it, taking into account the duration of the Lease Period and the terms of the special lease fees prescribed by the Lessor herein, and taking into account such other special terms as the Lessor has agreed to.
21.4. The Lessor shall be entitled to pre-estimated the liquidated damages in an amount equal addition to any compensation, right and relief as shall be available to the Rent, the parking fees Lessor hereunder and the Management Fees in [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] addition to VAT, for one month, when the said amount is linked to the Basic Index and until the Index known at the time of payment, whether the Lessor decided to perform the Agreement and whether the Lessor decided to terminate this Agreement. The parties declare that they consider the said sum as agreed and adequate compensation for the damage that the parties envision as the probable damage caused by a fundamental breach of this Agreement by the Lesseeunder any law.
22.221.5. Breach Any breach of any of the provisions hereof set forth hereunder of this Agreement below shall be deemed considered as a fundamental breach of this Agreementhereof:
22.2.1.121.6. Breach of any Any breach of the provisions set forth in Sections 4of one of the following sections hereof: 2, 53, 7, 8, 9, 10, 11, 12, 13, 14, 16, 15, 16, 1717.2, 18, 19, 20, 21, 22, 23, 24, 25 and 26 of this Agreement ; including all sub-sections thereoftheir subsections.
22.2.1.221.7. Default in any payment the Lessee is obligated to pay in accordance with this Agreement for a period greater than seven (7) days.
22.3. In any event in which the Lessee ceases the use of the Leased Premises or the Lease Agreement for any reason, the Lessee shall be obligated to pay all payments applicable to the Lessee by virtue of this Agreement until expiration of the Term of Lease.
22.4. The Lessor shall be entitled, however not obligated, to terminate this Agreement, notwithstanding any provision in the Agreement regarding the Term of Lease, and demand from the Lessee to vacate forthwith the Leased Premises upon delivery of a ten (10) days’ prior and written notice (hereinafter: “Termination Notice”) and return possession in the Leased Premises to the Lessor as stated in this Section 22 and in Section 23 of this Agreement upon the occurrence of any of the following events:
22.4.1.1. The Lessee committed a fundamental breach of this Agreement or any of its fundamental provisions and failed to cure the breach in 14 days as of the date of receiving written notice from the Lessor demanding to cure the breach. [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed]
22.4.1.2. The Lessee breached this Agreement and the breach is immaterial and failed to cure the breach in 30 days as of the date the Lessee received written notice from the Lessor demanding to cure the breach.
22.4.1.3. A motion was filed with the competent court If an application for the liquidation of Lessee’s liquidation, for the appointment, for the Lessee, for the appointment of a trustee, liquidator, temporary liquidator, a preliminary liquidator, receiver for a material substantial part of its assets and/or an application for the imposition foreclosure of a substantial part of its assets, and an order has been given pursuant to the application, or the application has not been revoked or dismissed within 30 days of its filing with the court and/or if the Lessee has filed an application for its liquidation or for its declaration as bankrupt and/or for the making of a composition of creditors. In such a case, the Lessor shall be entitled to exercise the collaterals, as defined below, immediately and without any prior notice.
21.8. Subject to the remainder of the provisions hereof, except due to the cessation of the Lessee’s activity as set forth in the above Section 8, or the bringing of an attachment on material alternative lessee as set forth in the above Section 7.2, in any event where the Lessee terminates the use of the Leasehold or the lease contract for any reason whatsoever, the Lessee shall be obligated to make all the payments applying to it by virtue of the provisions hereof until the end of the Lease Period. The Lessor shall be entitled to, but not obligated to, revoke this contract, notwithstanding any provision in the contract regarding the Lease Period, and to require of the Lessee to immediately evacuate the Leasehold by advance notice of thirty days (hereinafter: “Notice of Revocation”) and to return possession thereof into his hands as provided in Section 23 hereof, in any of the following cases:
21.8.1. The Lessee is in fundamental breach hereof or of one of the fundamental provisions hereof, and has not cured the breach within 30 days of the day it was required to do so.
21.8.2. The Lessee is in non-fundamental breach hereof and has not cured the breach within 45 days of the day it was required to do so.
21.8.3. An application has been filed with a competent court for the Lessee’s liquidation, for the appointment for the Lessee of a trustee, liquidator, temporary liquidator, preliminary liquidator, receiver for a substantial part of its assets and/or an application for the foreclosure of a substantial part of its assets, and an order was issued in accordance with this motion has been given pursuant to the application, or the motion was application has not been revoked or dismissed or canceled in 90 within 30 days as of the date of its filing thereof with the court and/or in case if the Lessee has filed an application for its liquidation or its declaration as bankrupt and/or for conducting the making of a composition with of creditors.
22.4.1.421.8.4. The guarantees and/or other collaterals given for the other securities that were provided in accordance with the provisions set forth in Section 24fulfillment hereof, if any have been given, have, in whole or in part, for the purpose of performing this Agreement, to the extent provided, expired, were canceled expired or were have been revoked or have been declared as null and void by the competent court to be invalid or lacking force for any reasonreason whatsoever.
22.521.8.5. In The aforesaid in this section does not derogate from any right and/or relief available to the event Lessor pursuant to the provisions of any law and/or agreement.
21.9. If a Termination Notice was deliveredof Revocation has been given, the provisions set forth in Sections 22-of Section 23 hereunder below shall apply apply, and the following provisions shall take effect:
22.5.1.1. The Lessee shall be responsible for returning to the Lessor and the Management Company, immediately upon receiving a peremptory judgment, all expenses, damages and losses that were caused to the Lessor and the Management Company due to the breach of the Agreement by the Lessee, as ruled in the judgment.
22.5.1.2. The Lessee shall not be entitled have no right to object in any manner way whatsoever and/or try and to attempt to delay and/or or prevent an engagement between the Lessor and any other Lessee lessee and/or try and to attempt to prevent or delay the lease leasing of the Leased Premises or a part thereof Leasehold to another substitute any alternative lessee. The aforesaid , except for provisions shall apply both with respect granted to the [Signature and Stamp: Ogen Yielding Real Estate Ltd and Polypid Ltd.] [Signed] relationship between the Lessor and the Lessee and with respect to the relationship between the Lessee and the substitute lessee and shall be deemed, inter alia, as contractual provisions made in favor of a third-partyit under any law.
22.6. Any default in payment by any party, beyond the period specified in since 22.1.1.2, shall incur interest at the maximum rate permissible by law at the time, and in case there is no limitation by law on the interest rate, interest in arrears at the maximum rate as instructed by the Bank for overdraft at the time for the period of default, without derogating from the right of the entitled party to compensation at a higher rate or any other relief.
Appears in 1 contract