Common use of Rights and Obligations Under the Bankruptcy Code Clause in 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 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.

Appears in 7 contracts

Samples: Lease (Transmedics Inc), Lease (Transmedics Inc), Synplicity Inc

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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.

Appears in 3 contracts

Samples: Lease Agreement (Impossible Kicks Holding Company, Inc.), 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), 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.

Appears in 3 contracts

Samples: Lease (Cabletron Systems Inc), Lease Agreement (Vtel Corp), Picturetel 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 EXHIBIT “F” 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.

Appears in 2 contracts

Samples: Lease (TransMedics Group, Inc.), Lease (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 (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.. Impossible Kicks/Westfarms/03/03/23 S28 COMMON AREA CHARGE

Appears in 1 contract

Samples: Lease (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 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.

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 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.. No default of this Lease by LESSEE, 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 LESSOR. It is understood and agreed that this is a Lease of real property and that, therefore, Sec. 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 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 immediately upon entry of a court order providing for assumption and/or assignment; (ii) the use of 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 be offered for sale are unchanged; (iii) the payment of any sums which may then be due or which may thereafter become due under the provisions of this Lease; (iv) the debtor, debtor-in-possession, trustee or assignee of such entity

Appears in 1 contract

Samples: 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 / 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.

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 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.

Appears in 1 contract

Samples: Silver Diner Inc /De/

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.. No default of this Lease by LESSEE, 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 LESSOR. Included within and in addition to any other conditions or obligations imposed upon 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 immediately upon entry of a court order providing for assumption and/or assignment; (ii) the deposit of an additional sum equal to three (3) months' rent to be held as a security deposit; (iii) the use of the Leased Premises as set forth in the Paragraph 7 of this Lease; (iv) the 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 entity demonstrates in writing that it has sufficient background, including but not limited to, substantial commercial experience in buildings of comparable size and financial ability to operate a commercial establishment out of

Appears in 1 contract

Samples: Call Points 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.

Appears in 1 contract

Samples: 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, 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.

Appears in 1 contract

Samples: Construction Agreement (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. If this Lease is assumed, whether by Tenant or any trustee or by any assignee or successor to Tenant or such Trustee (the “Assuming Entity”), in addition to any other conditions or obligations imposed upon the Assuming Entity, shall be the following obligations and conditions: (i) the cure of any monetary defaults and the reimbursement of any pecuniary loss of Landlord, such cure to be made immediately upon entry of a court order providing for assumption by and/or assignment to the Assuming Entity; (ii) to pay monthly in advance on the first day deposit of each month as reasonable compensation for use and occupancy of the Premises an amount a sum equal to all base rent two (2) months’ Base Rent and other rent otherwise due charges, to be held pursuant to the terms of Article 27 of this Lease; (iii) to reject or assume this Lease within sixty (60) days the use of the filing of a petition under any Chapter of Premises for 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)Permitted Use; (iv) to give Landlord at least thirty (30) days prior written notice the payment of Tenant’s Proportionate Share of any proceeding relating Operating Expenses which may then be due or which may thereafter become due pursuant to any assumption the provisions of Articles 8 and 9; (v) the Assuming Entity demonstrates in writing that it has sufficient background, including, without limitation, substantial experience and financial ability to operate an establishment out of the Premises in the manner contemplated in this Lease, as did Tenant at the time of the execution of this Lease; (vvi) to give at least thirty (30) days the prior written notice consent has been obtained of any abandonment mortgagee or holder of a deed of trust to which this Lease has been assigned as collateral security, if necessary; and (vii) no physical changes of any kind may be made to the Premises (any such abandonment being deemed a rejection and automatic termination unless in compliance with the applicable provisions of this Lease); (vi) . Any person or entity to do all other things which this Lease is assigned pursuant to the provisions 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 shall be deemed without further act or deed 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 assumed all of the aboveobligations arising under this Lease on and after the date of such assignment. Any such assignee shall, waiving notice upon demand, execute and hearing of the entry of samedeliver to Landlord an instrument confirming such assumption as Landlord shall reasonably request.

Appears in 1 contract

Samples: Lease (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 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. No default of this Lease by LESSEE, 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 LESSOR.

Appears in 1 contract

Samples: Millennium Pharmaceuticals 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.,

Appears in 1 contract

Samples: Agreement (Picturetel Corp)

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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.. No default of this Lease by LESSEE, 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 LESSOR. Included within and in addition to any other conditions or obligations imposed upon 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 immediately upon entry of a court order providing for assumption

Appears in 1 contract

Samples: Lease (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 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.

Appears in 1 contract

Samples: Lease Agreement (Play Co Toys & Entertainment 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.

Appears in 1 contract

Samples: Option Agreement (Polycom 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 for the Lease Year in which such month falls, on all of the filing Gross Sales during such month in excess of a petition under any Chapter one-twelfth (1/12th) of the Bankruptcy Code Break Point for such Lease Year; payment of all such Percentage Rent to be made by the tenth (10th) day of the succeeding month. (3) Included within and in addition to any other conditions or under any Law relating to bankruptcy, insolvency, reorganization obligations imposed upon Tenant or relief its successor in the event of debtors (any such rejection being deemed an automatic termination the assumption and/or assignment of this Lease); Lease are the following: (ivi) to give Landlord at least the cure of any monetary defaults and reimbursement of pecuniary loss within not more than thirty (30) days prior written notice of any proceeding relating to any assumption of this Leaseand/or assignment; (vii) the deposit of an additional sum equal to give at least thirty not less than three (303) days prior written notice months' Minimum 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 any abandonment Tenant or its assignee; (iii) the use of the Premises (any such abandonment being deemed a rejection and automatic termination as set forth in Section 4.01 of this Lease); (vi) to do all other things Lease and the quality, quantity and/or lines of benefit to Landlord otherwise merchandise, goods or services 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 offered for the event of the failure to comply with any of the abovesale are unchanged; and (viiiiv) the prior written consent of any mortgagee 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 samewhich this Lease has been assigned as collateral security.

Appears in 1 contract

Samples: Ground Lease Agreement (Retail Ventures 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.

Appears in 1 contract

Samples: Sublease Agreement (Genius Products Inc)

Rights and Obligations Under the Bankruptcy Code. 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. (a2) 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 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 for the lease year in which such month falls, on all of the filing gross sales during such monthly in excess of a petition under any Chapter one-twelfth (1/12th) of the Bankruptcy Code Percentage Rent Base for such lease year; payment of all such Percentage Rent to be made by the tenth (10th) day of the succeeding month. (3) Included within and in addition to any other conditions or under any Law relating to bankruptcy, insolvency, reorganization obligations imposed upon Tenant or relief its successor in the event of debtors (any such rejection being deemed an automatic termination the assumption and/or assignment of this Lease); Lease are the following: (ivi) to give Landlord at least the cure of any monetary defaults and reimbursement of pecuniary loss within nor more than thirty (30) days prior written notice of any proceeding relating assumption and/or assignment; (ii) the deposit of an additional sum equal to any assumption not less than three (3) months' Minimum Rent and additional rent to be held pursuant to the terms of Article XXXII of this Lease (and if said Article XXXII is deleted from this Lease, as if said Article XXXII was not deleted from this Lease) which sum shall be determined by Xxxxxxxx, in its sole discretion, to be a necessary deposit to secure the future performance under the Lease of Tenant or its assignee; (viii) to give at least thirty (30) days prior written notice of any abandonment the use of the Premises (any such abandonment being deemed a rejection and automatic termination as set forth in Section 7.01 of this Lease); (vi) to do all other things Lease and the quality, quantity and/or lines of benefit to Landlord otherwise merchandise, goods or services 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 aboveoffered for sale are unchanged; and (viiiiv) the prior written consent of any mortgagee 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 samewhich this Lease has been assigned as collateral security.

Appears in 1 contract

Samples: f01.justanswer.com

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. No default of this SUBLEASE by SUBLESSEE, 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 SUBLESSOR. Included within and in addition to any other conditions or obligations imposed upon 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 immediately upon entry of a court order providing for assumption and/or assignment; (ii) the deposit of an additional sum equal to three (3) months Rent to be held as a security deposit; (iii) the use of the Leased Premises as set forth in the reference date section of this SUBLEASE and the quality, quantity and/or lines of merchandise of any goods or services required to be offered for sale are unchanged; (iv) the 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 entity demonstrates in writing that it has sufficient background, including, but not limited to, substantial commercial experience in buildings of comparable size and financial ability to operate a commercial establishment out of the Leased Premises in the manner contemplated in this SUBLEASE, and meets all other reasonable criteria of SUBLESSOR as did SUBLESSEE upon execution of this SUBLEASE; (vi) the prior written consent of any mortgagee to which this SUBLEASE has been assigned as collateral security; and (vii) the Leased Premises at all times remains a single store (if retail) and no physical changes of any kind may be made to the Leased Premises unless in compliance with the applicable provisions of this SUBLEASE. Any person or entity to which this SUBLEASE is assigned pursuant to the provisions of the Bankruptcy Code shall be deemed further act or deed to have assumed all of the obligations arising under this SUBLEASE on and after the date of such assignment. Any such assignee shall, upon demand, execute and deliver to SUBLESSOR an instrument confirming such assumption in accordance with the terms of paragraph 21 hereof.

Appears in 1 contract

Samples: Chemgenics Pharmaceuticals 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

Appears in 1 contract

Samples: Lease (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 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. No default of this Lease by LESSEE, 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 LESSOR. It is understood and agreed that this is a Lease of real property and that, therefore, Sec. 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 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 immediately upon entry of a court order providing for assumption and/or assignment; (ii) [intentionally omitted]; (iii) the use of 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 be offered for sale are unchanged; (iv) the 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 entity demonstrates in writing that it has sufficient background, including, but not limited to, substantial commercial experience in buildings of comparable size and financial ability to operate a commercial establishment out of the Leased Premises in the manner contemplated in this Lease, and meets all other reasonable criteria of LESSOR as did LESSEE upon execution of this Lease; (vi) the prior written consent of any mortgagee to which this Lease has been assigned as collateral security; and (vii) the Leased Premises at all times remains a single store (if retail) and no physical changes of any kind may be made to the Leased Premises unless in compliance with the applicable provisions of this Lease. Any person or entity to which this Lease is assigned pursuant to the provisions of the Bankruptcy Code shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on and after the date of such assignment. Any such assignee shall, upon demand, execute and deliver to LESSOR an instrument confirming such assumption in accordance with the terms of Paragraph 21 hereof.

Appears in 1 contract

Samples: Net Genesis Corp

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