Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows: (i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same. (b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord. (c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease. (d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 3 contracts
Samples: Lease (Navisite Inc), Lease (Cascade Systems Inc), Lease (Applied Micro Circuits Corp)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease), unless the Bankruptcy Court has otherwise extended the period for acceptance or rejection; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice except that if and hearing to the extent that any of the entry of sameabove provisions, if enforced, would violate the Bankruptcy Code then in existence, then such provisions shall be conformed to the Bankruptcy Code then in existence.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease, except that if and to the extent that any of the above provisions, if enforced, would violate the Bankruptcy Code then in existence, then such provisions shall be conformed to the Bankruptcy Code then in existence.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 2 contracts
Samples: Sublease Agreement (Cabletron Systems Inc), Lease Agreement (Vtel Corp)
Rights and Obligations Under the Bankruptcy Code. (a) a. Upon the filing of a petition by or against Tenant under the United States Bankruptcy Code, Code Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i1) to perform all obligations each and every obligation of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; and (ii2) to pay monthly in advance on the first day of each month as a reasonable compensation for use and occupancy of the Premises an amount equal to all base rent the Rent and other rent charges otherwise due pursuant to this Lease; and (iii3) to reject or assume this Lease within sixty (60) days of the filing of a such petition under any Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable so long as notice of such period is given) of the filing of a petition under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors other Chapter; and (any such rejection being deemed an automatic termination of this Lease); (iv4) to give Landlord at least thirty forty-five (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (3045) days prior written notice of any abandonment of the Premises (Premises; any such abandonment being to be deemed a rejection and automatic termination of this Lease); and (vi5) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; and (vii6) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii7) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) b. Included within and in addition to any other conditions condition or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i1) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time within not more than more than thirty (30) days of the entry of the order approving such assumption and/or assignment assignment; and (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii2) the deposit of an additional sum equal to three (3) months' base rentmonths Rent to be held pursuant to the terms of Article 5 of this Lease; and (iii3) the use of the Premises only as set forth in Article 7 of this Lease; and (iv4) the reorganized debtor or assignee of such debtor in possession or of Tenant's ’s trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial to financial ability and experience in operating businesses to operate in the manner contemplated in this Lease and meet all meets any other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v5) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi6) the Premises Premises, at all times times, remains a single unit location and no Alterations or physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 2 contracts
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises “operation” as provided in Section 7.02 of this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Premises, an amount equal to all base minimum rent and other rent charges otherwise due pursuant to this LeaseLease and to pay percentage rent monthly at the percentage set forth in this Lease for the Lease Year in which such month falls on all sales during such month in excess of one twelfth (1/12th) of the minimum rent paid divided by a percentage equal to the Percentage Rent Factor for such Lease Year, with payment of all such percentage rent to be made by the tenth (10th) day of the succeeding month; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within sixty (60) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter other Chapter; provided that no extension of either of the Bankruptcy Code foregoing periods by or under any Law relating to bankruptcy, insolvency, reorganization or relief on behalf of debtors (any such rejection being deemed an automatic termination of this Lease)Tenant shall be permitted; (iv) to give Landlord at least thirty forty-five (3045) days days’ prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days’ prior written notice of any abandonment of the Premises (Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Premises; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 2 contracts
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.), Lease Agreement (Impossible Kicks Holding Company, Inc.)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
: (i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' ’ fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' ’ base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's ’s trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 2 contracts
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:as
(i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' ’ fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' ’ base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's ’s trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 2 contracts
Samples: Consent to Sublease (Sige Semiconductor Inc), Consent to Sublease (Sige Semiconductor Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
: (i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all al! base rent and other rent otherwise due pursuant to this Lease; ·, (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); ): (iv) to give g·1ve Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination term·1nation of this Lease); ): (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; : (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; : and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed Imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' ’ fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including Including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' ’ base rent; (iii) the use of the Premises only as set forth in this Lease; : (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's ’s trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); ): and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 2 contracts
Samples: Lease (TransMedics Group, Inc.), Lease Agreement (TransMedics Group, Inc.)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises "operation" as provided in Section 7.02 of this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises leased premises, an amount equal to all base minimum rent and other rent charges otherwise due pursuant to this LeaseLease and to pay percentage rent monthly at the percentage set forth in this Lease for the lease year in which such month falls on all sales during such month in excess of one twelfth (1/12th) of the Minimum Gross Sales for such lease year, with payment of all such percentage rent to be made by the tenth (both) day of the succeeding month; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within sixty (60) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter other Chapter; provided that no extension of either of the Bankruptcy Code foregoing periods by or under any Law relating to bankruptcy, insolvency, reorganization or relief on behalf of debtors (any such rejection being deemed an automatic termination of this Lease)Tenant shall be permitted; (iv) to give Landlord at least thirty forty-five (3045) days days' prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (leased premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the leased premises; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under of this Lease by Tenant, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) It is understood and agreed that this is a Lease of real property in a shopping center and that, therefore, Section 365(b)(3) of the Bankruptcy Code is applicable to any proposed assumption of this Lease in a bankruptcy case.
(d) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the immediately upon entry of the a court order approving such providing for assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit of an additional sum equal to three (3) months' base rentrent to be held pursuant to the terms of Section 26.01 of this Lease (notwithstanding any alteration or modification of the terms of said Section); (iii) the use of the Premises only leased premises as set forth in Section 7.01 of this LeaseLease and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale are unchanged; (iv) the reorganized payment of any sums which may then be due or which may thereafter become due pursuant to the provisions of Section 2.04 of this Lease; (v) the debtor, debtor in possession, trustee, or assignee of such debtor in possession or of Tenant's trustee entity demonstrates in writing that it has sufficient background including, but not limited to, substantial retailing experience in operating businesses shopping centers of comparable size and financial ability to operate a retail establishment out of the leased premises in the manner contemplated in this Lease Lease, and meet meets all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (vvi) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vivii) the Premises premises, at all times times, remains a single unit store and no Alterations or physical changes of any kind may be made to the premises unless in compliance with the applicable provisions of this Lease.
(de) Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the United States Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i1) to perform all obligations each and every obligation of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; and
(ii2) to pay monthly in advance on the first day of each month as a reasonable compensation for use and occupancy of the Premises in an amount equal to all base rent the Rent and other rent charges otherwise due pursuant to this Lease; and
(iii3) to reject or assume this Lease within sixty (60) days of the filing of a such petition under any Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days or such shorter term as Landlord, in its sole discretion, may deem reasonable so long as notice of such period is given) of the filing of a petition under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors other Chapter; and
(any such rejection being deemed an automatic termination of this Lease); (iv4) to give Landlord at least thirty forty-five (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (3045) days prior written notice of any abandonment of the Premises Premises; and
(5) any such abandonment being to be deemed a rejection and automatic termination of this Lease); and
(vi6) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; and
(vii7) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and and
(viii) 8) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, ; waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of or assumption and/or assignment are the following: :
(i1) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time within not more than thirty (30) days of the entry of the order approving such assumption and/or assignment assignment; and
(pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii2) the deposit of an additional sum equal to three (3) months' base rentmonths rent to be held pursuant to the terms of Paragraph 5 of this Lease; and
(iii3) the use of the Premises only as set forth in Paragraph 6 of this Lease; and
(iv4) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial financial ability and experience in to operating businesses in the manner contemplated in this Lease and meet meets all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; and
(v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v5) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi6) the Premises Premises, at all times times, remains a single unit location and no Alterations or physical changes of any kind may be maybe made to the Premises unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Industrial Lease (Healthcentral Com)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, Tenant as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises "operation" as provided in Section 7.2 of this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises leased premises, an amount equal to all base minimum rent and other rent charges otherwise due pursuant to this LeaseLease and to pay percentage rent monthly at the percentage set forth in this Lease for the lease year in which such month falls on all sales during such month in excess of one twelfth (1/12th) of the Breakpoint for such lease year, with payment of all such percentage rent to be made by the tenth (10th) day of the succeeding month; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within sixty (60) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter other Chapter; provided that no extension of either of the Bankruptcy Code foregoing periods by or under any Law relating to bankruptcy, insolvency, reorganization or relief on behalf of debtors (any such rejection being deemed an automatic termination of this Lease)Tenant shall be permitted; (iv) to give Landlord at least thirty forty-five (3045) days days' prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (leased premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the leased premises; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under of this Lease by Tenant, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) It is understood and agreed that this is a Lease of real property in a shopping center and that, therefore, Section 365(b)(3) of the Bankruptcy Code is applicable to any proposed assumption of this Lease in a bankruptcy case.
(d) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the immediately upon entry of the a court order approving such providing for assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit of an additional sum equal to three (3) months' base rentrent to be held pursuant to the terms of Section 26.1 of this Lease (notwithstanding any alteration or modification of the terms of said Section); (iii) the use of the Premises only leased premises as set forth in Section 7.1 of this LeaseLease and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale are unchanged; (iv) the reorganized payment of any sums which may then be due or which may thereafter become due pursuant to the provisions of Section 2.4 of this Lease; (v) the debtor, debtor in possession, trustee, or assignee of such debtor in possession or of Tenant's trustee entity demonstrates in writing that it has sufficient background including, but not limited to, substantial retailing experience in operating businesses Developments of comparable size and financial ability to operate a retail establishment out of the leased premises in the manner contemplated in this Lease Lease, and meet meets all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (vvi) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vivii) the Premises premises, at all times times, remains a single unit store and no Alterations or physical changes of any kind may be made to the premises unless in compliance with the applicable provisions of this Lease.
(de) Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Hart Industries Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and and/or as debtor in possession, and any trustee who may be appointed appointed, agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, including, but not limited towithout limitation, the covenants regarding the operations and uses manner of the Premises “operation” as provided in Article 7, until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume . If this Lease within sixty is assumed, whether by Tenant or any trustee or by any assignee or successor to Tenant or such Trustee (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy“Assuming Entity”), insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are Assuming Entity, shall be the followingfollowing obligations and conditions: (i) the cure of any monetary defaults and the reimbursement of any pecuniary loss by the time of the Landlord, such cure to be made immediately upon entry of the a court order approving such providing for assumption by and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under to the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)Assuming Entity; (ii) the deposit of an additional a sum equal to three two (32) months' base rent’ Base Rent and other charges, to be held pursuant to the terms of Article 27 of this Lease; (iii) the use of the Premises only as set forth in this Leasefor the Permitted Use; (iv) the reorganized debtor or assignee of such debtor in possession or payment of Tenant's trustee ’s Proportionate Share of any Operating Expenses which may then be due or which may thereafter become due pursuant to the provisions of Articles 8 and 9; (v) the Assuming Entity demonstrates in writing that it has sufficient background background, including, but not limited towithout limitation, substantial experience in operating businesses and financial ability to operate an establishment out of the Premises in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord Lease, as did Tenant upon at the time of the execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (vvi) the prior written consent has been obtained of any mortgagee or holder of a deed of trust to which this Lease has been assigned as collateral security, if necessary; and (vivii) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease.
(d) . Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord an instrument confirming such assumptionassumption as Landlord shall reasonably request.
Appears in 1 contract
Samples: Lease Agreement (Amarin Corp Plc\uk)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing ------------------------------------------------ of a petition by or against Tenant LESSEE under the Bankruptcy Code, TenantLESSEE, as debtor and as debtor in debtor-in-possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant LESSEE under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises operation of this Lease, until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance advance, on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Leased Premises, an amount equal to all base fixed annual Base Rent, additional rent and other rent charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter Term as LESSOR, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)other chapter; (iv) to give Landlord LESSOR at least thirty lease forty five (3045) days days' prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (Leased Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Leased Premises; (vi) to do all other things of benefit to Landlord LESSOR otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented consent to the entry of an any order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) . No default under of this Lease by TenantLESSEE, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) LESSOR. Included within and in addition to any other conditions or obligations imposed upon Tenant LESSEE or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the immediately upon entry of the a court order approving such providing for assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit of an additional sum equal to three (3) months' base rentrent to be held as a security deposit; (iii) the use of the Leased Premises only as set forth in the Paragraph 7 of this Lease; (iv) the reorganized debtor payment of any sums which may then be due or which may thereafter become due under the provisions of this Lease; (v) the debtor, debtor-in-possession, trustee or assignee of such debtor in possession or of Tenant's trustee entity demonstrates in writing that it has sufficient background includingbackground, including but not limited to, substantial commercial experience in operating businesses in the manner contemplated in this Lease buildings of comparable size and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee financial ability to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains operate a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.commercial establishment out of
Appears in 1 contract
Samples: Lease (Call Points Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the United States Bankruptcy Code, Tenant, as debtor and Tenant as debtor in possession, and or any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy CourtCourt or otherwise; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises an amount equal to Premises, Basic Rent and all base rent and other rent additional charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a such petition under any Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days of the filing of a petition under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)other Chapter; (iv) to give Landlord at least thirty forty-five (3045) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment or vacation of the Premises (any and that such abandonment being or vacation shall be deemed to be a rejection and automatic termination of this Lease); (viv) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (viivi) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viiivii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default by Tenant under this Lease by TenantLease, either prior to or subsequent to the filing of such petitiona petition in the United States Bankruptcy Court, will shall be deemed to have been waived unless Landlord expressly done so in writing by Landlorddoes so.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rentBasic Rent to be held pursuant to the terms of Section 6 of this Lease as Security Deposit; (ii) that the use of the Premises shall be as set forth in Section 7 of this Lease; (iii) the use of the Premises only as set forth demonstration in this Lease; (iv) writing by the reorganized debtor debtor, its assignee or assignee of such debtor trustee in possession or of Tenant's trustee demonstrates in writing bankruptcy that it has sufficient background including, but not limited to, substantial business experience in operating businesses and financial ability to operate a business in the Premises in the manner contemplated in this Lease and meet meets all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (viv) the prior written consent of any mortgagee to which whom this Lease has been assigned or hypothecated as collateral security; and (viv) that the Premises Premises, at all times remains times, remain a single unit premises and no Alterations or physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Rights and Obligations Under the Bankruptcy Code. (a1) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in debtor-in-possession, and any trustee who may be appointed with respect to the assets of or estate in bankruptcy of Tenant, agree as follows:
(i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for the use and occupancy of the Premises Leased Premises, an amount equal to all base rent Minimum Rent, Additional Rent and other rent charges otherwise due pursuant to this Lease, and to pay Percentage Rent monthly, at the Percentage Factor for the Lease Year in which such month falls, on all of the Gross Sales during such month in excess of one-twelfth (1/12th) of the Sales Break Point for such Lease Year; payment of all such Percentage Rent to be made by the twentieth (iii20th) to reject or assume day of the succeeding month.
(2) It is understood and agreed that this Lease within sixty (60) days is a lease of the filing of real property in a petition under any Chapter shopping center as such lease is described in Section 365 of the Bankruptcy Code or under any Law relating Code, as the same may be amended from time to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of sametime.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c3) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of the assumption and/or assignment of this Lease are the following: (i) the cure of any monetary defaults (including without limitation, default in Tenant's obligation to reimburse Landlord for Landlord's reasonable attorneys' fees and the disbursements incurred (A) in enforcing this Lease under Section 14.05 and/or (B) in connection with such assignment of this Lease under Section 11.01(d)) and reimbursement of pecuniary loss by the time within not more than thirty (30) days of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit of an additional sum equal to not less than three (3) months' base rentMinimum Rent and Additional Rent to be held pursuant to the terms of Section 2.05 of this Lease, which sum shall be determined by Landlord, in its sole discretion, to be a necessary deposit to secure the future performance under this Lease of Tenant or its assignee; (iii) the use of the Leased Premises only (including the permitted trade name) as set forth in this Lease; (iv) the reorganized debtor or assignee Section 4.01 of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria the quality, quantity and lines of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3)merchandise, goods or services required to be offered for sale are unchanged; and (viv) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Ashworth Inc)
Rights and Obligations Under the Bankruptcy Code. (a1) It is understood and agreed that this Lease is a lease of real property in a shopping center as such lease is described in Section 365 of the Bankruptcy Code, as the same may be amended from time to time.
(2) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in debtor-in-possession, and any trustee who may be appointed with respect to the assets of or estate in bankruptcy of Tenant, agree as follows:
(i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for the use and occupancy of the Premises Premises, an amount equal to all base rent Minimum Rent, Additional Rent and other rent charges otherwise due pursuant to this Lease; (iii) , and to reject or assume pay Percentage Rent monthly, at the percentage factor set forth in this Lease within sixty (60) days of for the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcyLease Year in which such month falls, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing on all of the above, waiving notice and hearing Gross Sales during such month in excess of one-twelfth (1/12th) of the entry Break Point for such Lease Year; payment of sameall such Percentage Rent to be made by the tenth (10th) day of the succeeding month.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c3) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of the assumption and/or assignment of this Lease are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time within not more than thirty (30) days of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit of an additional sum equal to not less than three (3) months' base rentMinimum Rent and Additional Rent to be held by Landlord as a security deposit, which sum shall be determined by Landlord, in its sole discretion, to be a necessary deposit to secure the future performance under the Lease of Tenant or its assignee; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee Section 4.01 of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria the quality, quantity and/or lines of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3)merchandise, goods or services required to be offered for the sale are unchanged; and (viv) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced EXHIBIT "F" ----------- 1 under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Navisite Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant LESSEE under the Bankruptcy Code, TenantLESSEE, as debtor and as debtor in debtor-in-possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant LESSEE under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises operation of this Lease, until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly monthly, in advance advance, on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Leased Premises, an amount equal to all base fixed annual Base Rent, additional rent and other rent charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as LESSOR, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)other chapter; (iv) to give Landlord LESSOR at least thirty forty-five (3045) days days' prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (Leased Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Leased Premises; (vi) to do all other things of benefit to Landlord LESSOR otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an any order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) . No default under of this Lease by TenantLESSEE, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
LESSOR. It is understood and agreed that this is a Lease of real property and that, therefore, Sec. 365(b) (c3) of the Bankruptcy Code is applicable to any proposed assumption of this Lease in a bankruptcy case. Included within and in addition to any other conditions or obligations imposed upon Tenant LESSEE or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the immediately upon entry of the a court order approving such providing for assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit use of an additional sum equal the Leased Premises as set forth in the reference data section of this Lease and the quality, quantity and/or lines of merchandise of any goods or services required to three (3) months' base rentbe offered for sale are unchanged; (iii) the use payment of any sums which may then be due or which may thereafter become due under the Premises only as set forth in provisions of this Lease; (iv) the reorganized debtor debtor, debtor-in-possession, trustee or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.entity
Appears in 1 contract
Samples: Lease (Rowecom Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease), unless the Bankruptcy Court has otherwise extended the period for acceptance or rejection; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice except that if and hearing to the extent that any of the entry of sameabove provisions, if enforced, would violate the Bankruptcy Code then in existence, then such provisions shall be conformed to the Bankruptcy Code then in existence.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease EXHIBIT "F" -2- 65 has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease, except that if and to the extent that any of the above provisions, if enforced, would violate the Bankruptcy Code then in existence, then such provisions shall be conformed to the Bankruptcy Code then in existence.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Picturetel Corp)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant LESSEE under the Bankruptcy Code, TenantLESSEE, as debtor and as debtor in debtor-in-possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant LESSEE under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises operation of this Lease, until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance advance, on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Leased Premises, an amount equal to all base rent fixed Annual Base Rent, Additional Rent and other rent charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as LESSOR, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)other chapter; (iv) to give Landlord LESSOR at least thirty forty five (3045) days days' prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (Leased Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Leased Premises; (vi) to do all other things of benefit to Landlord LESSOR otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented consent to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) . No default under of this Lease by TenantLESSEE, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) LESSOR. Included within and in addition to any other conditions or obligations imposed upon Tenant LESSEE or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the immediately upon entry of the a court order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such providing for assumption.
Appears in 1 contract
Samples: Sublease (Interliant Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.,
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease, except that if and to the extent that any of the above provisions, if enforced, would violate the Bankruptcy Code then in existence, then such provisions shall be conformed to the Bankruptcy Code then in existence.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Picturetel Corp)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant SUBLESSEE under the Bankruptcy Code, TenantSUBLESSEE, as debtor and as debtor in debtor-in-possession, and any trustee who may be appointed agree as follows:
: (i) to perform all obligations each and every obligation of Tenant SUBLESSEE under this Lease, including, SUBLEASE including but not limited to, the covenants regarding the operations and uses manner of the Premises operation of this SUBLEASE, until such time as this Lease SUBLEASE is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly monthly, in advance advance, on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Leased Premises, an amount equal to all base rent fixed Annual Base Rent, Additional Rent and other rent charges otherwise due pursuant to this LeaseSUBLEASE; (iii) to reject or assume this Lease SUBLEASE within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as SUBLESSOR, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)other chapter; (iv) to give Landlord SUBLESSOR at least thirty forty five (3045) days prior written notice of any proceeding relating to any assumption of this LeaseSUBLEASE; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (Leased Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)SUBLEASE and an abandonment of any property not previously removed from the Leased Premises; (vi) to do all other things of benefit to Landlord SUBLESSOR otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease SUBLEASE in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) . No default under of this Lease SUBLEASE by TenantSUBLESSEE, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) SUBLESSOR. Included within and in addition to any other conditions or obligations imposed upon Tenant SUBLESSEE or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the immediately upon entry of the a court order approving such providing for assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit of an additional sum equal to three (3) months' base rentmonths Rent to be held as a security deposit; (iii) the use of the Leased Premises only as set forth in the reference date section of this LeaseSUBLEASE and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale are unchanged; (iv) the reorganized debtor payment of any sums which may then be due or which may thereafter become due under the provisions of this SUBLEASE; (v) the debtor, debtor-in-possession, trustee or assignee of such debtor in possession or of Tenant's trustee entity demonstrates in writing that it has sufficient background background, including, but not limited to, substantial commercial experience in operating businesses buildings of comparable size and financial ability to operate a commercial establishment out of the Leased Premises in the manner contemplated in this Lease SUBLEASE, and meet meets all other reasonable criteria of Landlord SUBLESSOR as did Tenant SUBLESSEE upon execution of this LeaseSUBLEASE; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (vvi) the prior written consent of any mortgagee to which this Lease SUBLEASE has been assigned as collateral security; and (vivii) the Leased Premises at all times remains a single unit store (if retail) and no Alterations or physical changes of any kind may be made to the Leased Premises unless in compliance with the applicable provisions of this Lease.
(d) SUBLEASE. Any person or entity to whom which this Lease SUBLEASE is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease SUBLEASE on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord SUBLESSOR an instrument confirming such assumptionassumption in accordance with the terms of paragraph 21 hereof.
Appears in 1 contract
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises “operation” as provided in Section 7.02 of this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Leased Premises, an amount equal to all base minimum rent and other rent charges otherwise due pursuant to this LeaseLease and to pay percentage rent monthly at the percentage set forth in this Lease for the Lease Year in which such month falls on all sales during such month in excess of one twelfth (1/12th) of the Minimum Gross Sales for such Lease Year, with payment of all such percentage rent to be made by the tenth (10th) day of the succeeding month; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within sixty (60) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter other Chapter; provided that no extension of either of the Bankruptcy Code foregoing periods by or under any Law relating to bankruptcy, insolvency, reorganization or relief on behalf of debtors (any such rejection being deemed an automatic termination of this Lease)Tenant shall be permitted; (iv) to give Landlord at least thirty forty-five (3045) days days’ prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days’ prior written notice of any abandonment of the Premises (Leased Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Leased Premises; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.. S28 COMMON AREA CHARGE
(b) No default under of this Lease by TenantXxxxxx, either e the prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly expres ly done so in writing wri ng by LandlordLand ord
(c) It is understood and agreed that this is a Lease of real property in a shopping center and that, therefore, Section 365(b)(3) of the Bankruptcy Code is applicable to any proposed assumption of this Lease in a bankruptcy case.
(cd) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will includeincluding, without limitation, any attorneys' fees and ’ fees, costs and expert witness fees or expenses paid or incurred by Landlord in protecting its rights under connection with this Lease, including representation matter) immediately upon entry of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)a court order providing for assumption and/or assignment; (ii) the deposit of an additional sum equal to three (3) months' base rent’ rent to be held pursuant to the terms of Section 26.01 of this Lease (notwithstanding any alteration or modification of the terms of said Section); (iii) the use of the Leased Premises only as set forth in Section 7.01 of this LeaseLease and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale are unchanged; (iv) the reorganized payment of any sums which may then be due or which may thereafter become due pursuant to the provisions of Section 2.04 of this Lease; (v) the debtor, debtor in possession, trustee, or assignee of such debtor in possession or of Tenant's trustee entity demonstrates in writing that it has sufficient background including, but not limited to, substantial retailing experience in operating businesses shopping centers of comparable size and financial ability to operate a retail establishment out of the Leased Premises in the manner contemplated in this Lease Lease, and meet meets all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (vvi) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vivii) the Premises Leased Premises, at all times times, remains a single unit store and no Alterations or physical changes of any kind may be made to the Leased Premises unless in compliance with the applicable provisions of this Lease. Without limitation of the foregoing, any assignee of Tenant’s rights and obligations under this Lease shall be liable for any and all adjustments to charges under this Lease (including, without limitation, charges under Sections 2.05 and 8.03) which shall occur during the year in which such assignee assumes the obligations.
(de) Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord an instrument confirming such assumption, which instrument shall be in a form satisfactory to Landlord.
(f) Landlord shall specifically be entitled to recover attorneys’ fees, costs and expenses in accordance with 11 U.S.C. Section 503 as a result of Xxxxxxxx’s participation in any bankruptcy proceedings.
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises “operation” as provided in Section 7.02 of this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Leased Premises, an amount equal to all base minimum rent and other rent charges otherwise due pursuant to this LeaseLease and to pay percentage rent monthly at the percentage set forth in this Lease for the Lease Year in which such month falls on all sales during such month in excess of one twelfth (1/12th) of the Minimum Gross Sales for such Lease Year, with payment of all such percentage rent to be made by the tenth (10th) day of the succeeding month; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within sixty (60) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter other Chapter; provided that no extension of either of the Bankruptcy Code foregoing periods by or under any Law relating to bankruptcy, insolvency, reorganization or relief on behalf of debtors (any such rejection being deemed an automatic termination of this Lease)Tenant shall be permitted; (iv) to give Landlord at least thirty forty-five (3045) days days’ prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days’ prior written notice of any abandonment of the Premises (Leased Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Leased Premises; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.. S26 Impossible Kicks/Dolphin Mall/03/21/23 COMMON AREA CHARGE
(b) No default under of this Lease by TenantXxxxxx, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) It is understood and agreed that this is a Lease of real property in a shopping center and that, therefore, Section 365(b)(3) of the Bankruptcy Code is applicable to any proposed assumption of this Lease in a bankruptcy case.
(d) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will includeincluding, without limitation, any attorneys' fees and ’ fees, costs and expert witness fees or expenses paid or incurred by Landlord in protecting its rights under connection with this Lease, including representation matter) immediately upon entry of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)a court order providing for assumption and/or assignment; (ii) the deposit of an additional sum equal to three (3) months' base rent’ rent to be held pursuant to the terms of Section 26.01 of this Lease (notwithstanding any alteration or modification of the terms of said Section); (iii) the use of the Leased Premises only as set forth in Section 7.01 of this LeaseLease and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale are unchanged; (iv) the reorganized payment of any sums which may then be due or which may thereafter become due pursuant to the provisions of Section 2.04 of this Lease; (v) the debtor, debtor in possession, trustee, or assignee of such debtor in possession or of Tenant's trustee entity demonstrates in writing that it has sufficient background including, but not limited to, substantial retailing experience in operating businesses shopping centers of comparable size and financial ability to operate a retail establishment out of the Leased Premises in the manner contemplated in this Lease Lease, and meet meets all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (vvi) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vivii) the Premises Leased Premises, at all times times, remains a single unit store and no Alterations or physical changes of any kind may be made to the Leased Premises unless in compliance with the applicable provisions of this Lease. Without limitation of the foregoing, any assignee of Tenant’s rights and obligations under this Lease shall be liable for any and all adjustments to charges under this Lease (including, without limitation, charges under Sections 2.05 and 8.03) which shall occur during the year in which such assignee assumes the obligations.
(de) Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord an instrument confirming such assumption, which instrument shall be in a form satisfactory to Landlord.
(f) Landlord shall specifically be entitled to recover attorneys’ fees, costs and expenses in accordance with 11 U.S.C. Section 503 as a result of Xxxxxxxx’s participation in any bankruptcy proceedings.
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises 'operation as provided in Section 7 02 of this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; , (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises leased premises, an amount equal to all base minimum rent and other rent charges otherwise due pursuant to this LeaseLease and to pay percentage rent monthly a' the percentage set forth in this Lease for the lease year in which such month falls on all sales during such month in excess of one twelfth (1/12th) of the Minimum Gross Sales for such lease year, with payment of all such percentage rent to be made by the tenth (1 0th) day of the succeeding month; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within sixty (60) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter other Chapter; provided that no extension of either of the Bankruptcy Code foregoing periods by or under any Law relating to bankruptcy, insolvency, reorganization or relief on behalf of debtors (any such rejection being deemed an automatic termination of this Lease)Tenant shall be permitted; (iv) to give Landlord at least thirty forty-five (3045) days days' prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (leased premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the leased premises; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcyCode, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease Agreement (Play Co Toys & Entertainment Corp)
Rights and Obligations Under the Bankruptcy Code. The following shall be in addition to and not in abrogation of any other legal or equitable right or remedy which Landlord may have;
(a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; and (ii) to pay monthly in advance on the first (1st) day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent Rent; and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty ninety (6090) days of the filing of a such petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)Code; and (iv) to give Landlord at least thirty sixty (3060) days prior written notice of any proceeding relating to any assumption of this Lease; and (v) to give at least thirty sixty (3060) days prior written notice of any abandonment of the Premises (any and such abandonment being to be deemed a rejection and automatic termination of this Lease); and (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; and (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under of this Lease by Tenant, either prior to or subsequent to the filing of :)f such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) It is understood and agreed that this is a Lease of non-residential real property as such a Lease is described or referred to in the Bankruptcy Code.
(d) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time within not more than thirty (30) days of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees assignment; and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rentRent; and (iii) the use of the Premises only as set forth in this Lease; and (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (viv) the Premises Premises, at all times remains times, remain a single unit store and no Alterations or physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease Agreement (Armitec Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the United States Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; ;
(ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises in an amount equal to all base rent rent, and other rent charges otherwise due pursuant to this Lease; ;
(iii) to reject or assume this Lease within sixty (60) days of the filing of a such petition under any Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as Landlord, in its reasonable judgment, may deem reasonable so long as notice of such period is given) of the filing of a petition under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); other Chapter;
(iv) to give Landlord at least thirty forty-five (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (3045) days prior written notice of any abandonment of the Premises (Premises, any such abandonment being to be deemed a rejection and automatic termination of this Lease); ;
(viv) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; Code;
(viivi) NO to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and and,
(viiivii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Boystoys Com Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree appointed, agrees as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, including, but not limited to, the covenants regarding the operations manner of use and uses of the Premises operation as provided in Article IV and Article VIII until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Premises, an amount equal to all base rent the monthly installment of Annual Basic Rental and other rent charges otherwise due pursuant to this LeaseLease and to pay Annual Percentage Rental monthly at the percentage set forth in this Lease for the Rental Year in which such month falls on all sales during such month in excess of one-twelfth (1/12th) of the breakpoint for such Rental Year, with payment of all such percentage rent to be made by the tenth (10th) day of the succeeding month; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any other Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)Code; (iv) to give Landlord at least thirty forty-five (3045) days days' prior written notice of any proceeding relating related to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously moved from the Premises; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under of this Lease by Tenant, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c. It is understood and agreed that this is a lease of real property in a shopping center and that, therefore, Section 365(b)(3) of the Bankruptcy Code is applicable to any proposed assumption of this Lease in a bankruptcy case. Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment assignments are the following: (i) the cure of any monetary defaults and the reimbursement of any pecuniary loss by the time of the immediately upon entry of the a court order approving such providing for assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit of an additional a sum equal to three (3) months' base rentmonths rent to be held by Landlord as a security deposit; (iii) the use of the Premises only as set forth in this LeaseArticle IV and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale are unchanged; (iv) the reorganized debtor, debtor in possession, trustee, or assignee of such debtor in possession or of Tenant's trustee entity demonstrates in writing that it has sufficient background including, but not limited to, substantial retailing experience in operating businesses shopping centers of comparable size and financial ability to operate a retail establishment of the Premises in the manner contemplated in this Lease Lease, and meet meets all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee Mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises Premises, at all times times, remains a single unit store and no Alterations or physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease.
(d) . Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease Agreement (Ashworth Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
: (i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' ’ fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' ’ base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's ’s trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Synplicity Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent Monthly Minimum Rental and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Cmgi Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises “operation” as provided in Section 7.02 of this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Premises, an amount equal to all base minimum rent and other rent charges otherwise due pursuant to this LeaseLease and to pay percentage rent monthly at the percentage set forth in this Lease for the Lease Year in which such month falls on all sales during such month in excess of one twelfth (1/12th) of the minimum rent paid divided by a percentage equal to the Percentage Rent Factor for such Lease Year, with payment of all such percentage rent to be made by the tenth (10th) day of the succeeding month; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within sixty (60) days (or such shorter term as Landlord, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter other Chapter; provided that no extension of either of the Bankruptcy Code foregoing periods by or under any Law relating to bankruptcy, insolvency, reorganization or relief on behalf of debtors (any such rejection being deemed an automatic termination of this Lease)Tenant shall be permitted; (iv) to give Landlord at least thirty forty-five (3045) days days’ prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days’ prior written notice of any abandonment of the Premises (Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Premises; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under of this Lease by TenantXxxxxx, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within It is understood and agreed that this is a Lease of real property in addition to any other conditions or obligations imposed upon Tenant or its successor in the event a Shopping Center and that, therefore, Section 365(b)(3) of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under is applicable to any Law relating to bankruptcy, insolvency, reorganization or relief proposed assumption of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains in a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Leasebankruptcy case.
(d) Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord an instrument confirming such assumption, which instrument shall be in a form satisfactory to Landlord.
(e) Landlord shall specifically be entitled to recover attorneys’ fees, costs and expenses in accordance with 11 U.S.C. Section 503 as a result of Xxxxxxxx’s participation in any bankruptcy proceedings.
Appears in 1 contract
Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant LESSEE under the Bankruptcy Code, TenantLESSEE, as debtor and as debtor in debtor-in- possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant LESSEE under this Lease, Lease including, but not limited to, the covenants regarding manner of operation of this Lease including, but not limited to the operations and uses manner of the Premises operation of this Lease, until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly monthly, in advance on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Leased Premises, an amount equal to all base fixed annual Base Rent, additional rent and other rent charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter Term as LESSOR, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)other chapter; (iv) to give Landlord LESSOR at least thirty forty-five (3045) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (Leased Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Leased Premises; (vi) to do all other things of benefit to Landlord LESSOR otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented consent to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) . No default under of this Lease by TenantLESSEE, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by LandlordLESSOR.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and / or as debtor in possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of the Premises conduct of Tenant’s business as provide in this Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first (he First day of each month as reasonable compensation for use and occupancy of the Leased Premises an amount equal to all base rent and other rent Rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a such petition under any Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter time as Landlord, in its sole discretion, may deem reasonable so long as notice of such period is given) of the filing of the petition under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)other chapter; (iv) to give Landlord at least thirty forty-five (3045) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (Premises, any such abandonment being to be deemed a rejection and automatic termination of this Lease); (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Purchase and Sale Agreement (American Realty Capital New York Recovery Reit Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the United States Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
(i1) to perform all obligations each and every obligation of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises Lease until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; and (ii2) to pay monthly in advance on the first day of each month as a reasonable compensation for use and occupancy of the Premises an amount equal to all base rent Minimum Monthly Rent, and Percentage Rent and other rent charges otherwise due pursuant to this Lease; and (iii3) to reject or assume this Lease within sixty (60) days of the filing of a such petition under any Chapter chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors Code; and (any such rejection being deemed an automatic termination of this Lease); (iv4) to give Landlord at least thirty forty five (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (3045) days prior written notice of any abandonment of the Premises (any such abandonment being to be deemed a rejection and automatic termination of this Lease); and (vi5) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; and (vii6) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii7) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i1) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving prior to such assumption and/or assignment (assignment, which pecuniary loss will shall include, without limitationbut not be limited to, any attorneys' ’ fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)Landlord; and (ii2) the deposit of an additional sum equal to three (3) months' base rentmonths Minimum Monthly Rent to be held pursuant to the terms of Section 5 of this Lease; and (iii3) the use of the Premises only as set forth in this LeaseLease and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale shall remain unchanged; and (iv4) the reorganized debtor or assignee of such debtor in possession or of Tenant's ’s trustee demonstrates must demonstrate in writing that it has sufficient background including, but not limited to, substantial retailing experience in operating businesses shopping centers of comparable size and the financial ability to operate a retail establishment in the Premises in the manner contemplated in by this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v5) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi6) the Premises Premises, at all times times, remains a single unit store and no Alterations or physical changes of any kind may be made to the Premises unless in compliance with the applicable provisions of this Lease.
(c) No default under this Lease by Txxxxx, either prior to or subsequent to the filing of such a petition, shall be deemed to have been waived unless expressly done so in writing by Lxxxxxxx.
(d) Any person or entity to whom It is understood and agreed that this is a Lease of real property in a shopping center as such a lease is assigned pursuant to the provisions described in Section 365(b)(3) of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumptionCode.
Appears in 1 contract
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant under the Bankruptcy Code, Tenant, as debtor and as debtor in possession, and any trustee who may be appointed agree as follows:
: (i) to perform all obligations of Tenant under this Lease, including, but not limited to, the covenants regarding the operations and uses of the Premises until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly in advance on the first day of each month as reasonable compensation for use and occupancy of the Premises an amount equal to all base rent and other rent otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease); (iv) to give Landlord at least thirty (30) days prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days prior written notice of any abandonment of the Premises (any such abandonment being deemed a rejection and automatic termination of this Lease), unless the Bankruptcy Court has otherwise extended the period for acceptance or rejection; (vi) to do all other things of benefit to Landlord otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; and (viii) to have consented to the entry of an order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice except that if and hearing to the extent that any of the entry of sameabove provisions, if enforced, would violate the Bankruptcy Code then in existence, then such provisions shall be conformed to the Bankruptcy Code then in existence.
(b) No default under this Lease by Tenant, either prior to or subsequent to the filing of such petition, will be deemed to have been waived unless expressly done so in writing by Landlord.
(c) Included within and in addition to any other conditions or obligations imposed upon Tenant or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the entry of the order approving such assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor); (ii) the deposit of an additional sum equal to three (3) months' base rent; (iii) the use of the Premises only as set forth in this Lease; (iv) the reorganized debtor or assignee of such debtor in possession or of Tenant's trustee demonstrates in writing that it has sufficient background including, but not limited to, substantial experience in operating businesses in the manner contemplated in this Lease and meet all other reasonable criteria of Landlord as did Tenant upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (v) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vi) the Premises at all times remains a single unit and no Alterations or physical changes of any kind may be made unless in compliance with the applicable provisions of this Lease, except that if and to the extent that any of the above provisions, if enforced, would violate the Bankruptcy Code then in existence, then such provisions shall be conformed to the Bankruptcy Code then in existence.
(d) Any person or entity to whom this Lease is assigned pursuant to the provisions of the Bankruptcy Code will be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or after the date of such assignment. Any such assignee will upon demand execute and deliver to Landlord an instrument confirming such assumption.
Appears in 1 contract
Samples: Lease (Polycom Inc)
Rights and Obligations Under the Bankruptcy Code. (a) Upon the filing of a petition by or against Tenant LESSEE under the Bankruptcy Code, TenantLESSEE, as debtor and as debtor in debtor-in-possession, and any trustee who may be appointed agree as follows:
(i) to perform all obligations each and every obligation of Tenant LESSEE under this Lease, Lease including, but not limited to, the covenants regarding the operations and uses manner of-operation of the Premises this Lease, until such time as this Lease is either rejected or assumed by order of the United States Bankruptcy Court; (ii) to pay monthly monthly, in advance advance, on the first day of each month month, as reasonable compensation for use and occupancy of the Premises Leased Premises, an amount equal to all base fixed annual Base Rent, additional rent and other rent charges otherwise due pursuant to this Lease; (iii) to reject or assume this Lease within sixty (60) days of the appointment of such trustee under Chapter 7 of the Bankruptcy Code or within one hundred twenty (120) days (or such shorter term as LESSOR, in its sole discretion, may deem reasonable, so long as notice of such period is given) of the filing of a petition under any Chapter of the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors (any such rejection being deemed an automatic termination of this Lease)other chapter; (iv) to give Landlord LESSOR at least thirty (30forty-five(45) days days' prior written notice of any proceeding relating to any assumption of this Lease; (v) to give at least thirty (30) days days' prior written notice of any abandonment of the Premises (Leased Premises, with any such abandonment being to be deemed a rejection and automatic termination of this Lease)Lease and an abandonment of any property not previously removed from the Leased Premises; (vi) to do all other things of benefit to Landlord LESSOR otherwise required under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtorsCode; (vii) to be deemed to have rejected this Lease in the event of the failure to comply with any of the above; : and (viii) to have consented consent to the entry of an any order by an appropriate United States Bankruptcy Court providing all of the above, waiving notice and hearing of the entry of same.
(b) . No default under of this Lease by TenantLESSEE, either prior to or subsequent to the filing of such a petition, will shall be deemed to have been waived unless expressly done so in writing by Landlord.
LESSOR. It is understood and agreed that this is a Lease of real property and that, therefore, Sec. 365(b) (c3) of the Bankruptcy Code is applicable to any proposed assumption of this Lease in a bankruptcy case. Included within and in addition to any other conditions or obligations imposed upon Tenant LESSEE or its successor in the event of assumption and/or assignment are the following: (i) the cure of any monetary defaults and the reimbursement of pecuniary loss by the time of the immediately upon entry of the a court order approving such providing for assumption and/or assignment (pecuniary loss will include, without limitation, any attorneys' fees and costs and expert witness fees incurred by Landlord in protecting its rights under this Lease, including representation of Landlord in any proceeding commenced under the Bankruptcy Code or under any Law relating to bankruptcy, insolvency, reorganization or relief of debtor)assignment; (ii) the deposit of an additional sum equal to three (3) months' base rent[intentionally omitted]; (iii) the use of the leased Premises only as set forth in the reference data section of this LeaseLease and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale are unchanged; (iv) the reorganized debtor payment of any sums which may then be due or which may thereafter become due under the provisions of this Lease; (v) the debtor, debtor-in-possession, trustee or assignee of such debtor in possession or of Tenant's trustee entity demonstrates in writing that it has sufficient background background, including, but not limited to, substantial commercial experience in operating businesses buildings of comparable size and financial ability to operate a commercial establishment out of the Leased Premises in the manner contemplated in this Lease Lease, and meet meets all other reasonable criteria of Landlord LESSOR as did Tenant LESSEE upon execution of this Lease; (v) meet all other criteria of 11 U.S.C. Section 365(b)(3); and (vvi) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vivii) the Leased Premises at all times remains a single unit store (if retail) and no Alterations or physical changes of any kind may be made to the Leased Premises unless in compliance with the applicable provisions of this Lease.
(d) . Any person or entity to whom which this Lease is assigned pursuant to the provisions of the Bankruptcy Code will shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on or and after the date of such assignment. Any such assignee will shall, upon demand demand, execute and deliver to Landlord LESSOR an instrument confirming such assumptionassumption in accordance with the terms of Paragraph 21 hereof.
Appears in 1 contract
Samples: Lease Agreement (Net Genesis Corp)
