Common use of SEPARATE AND DISTINCT OBLIGATIONS Clause in Contracts

SEPARATE AND DISTINCT OBLIGATIONS. Guarantor acknowledges and agrees that Guarantor's obligations to Lessor under this Guaranty are separate and distinct from Lessee's obligations to Lessor under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on Guarantor's obligations to Lessor hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee or for any substantial part of its property, (c) any assignment by Lesseef or the benefit of creditors, (d) the failure of Lessee generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee in the furtherance of any of the foregoing, or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee or for any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor under or related to the Lease for which Lessor is required to reimburse Lessee pursuant to any court order 01' in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee or any trustee, or thereafter assigned by Lessee or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of Lessee, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor and Guarantor, Lessor shall have the right to accelerate all of Lessee's obligations under the Lease and Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor to Lessor, subject to the terms of this Guaranty. Guarantor waives any defense arising by reason of any disability or other defense of Lessee or by reason of the cessation from any cause whatsoever of the liability of Lessee.

Appears in 1 contract

Samples: Lease Agreement (Capricor Therapeutics, Inc.)

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SEPARATE AND DISTINCT OBLIGATIONS. Guarantor acknowledges and agrees that Guarantor's obligations to Lessor under this Guaranty are separate and distinct from Lessee's obligations to Lessor under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on Guarantor's obligations to Lessor hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee or for any substantial part of its property, (c) any assignment by Lesseef or Lessee for the benefit of creditors, (d) the failure of Lessee generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee in the furtherance of any of the foregoing, or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee or for any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor under or related to the Lease for which Lessor is required to reimburse Lessee pursuant to any court order 01' in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee or any trustee, or thereafter assigned by Lessee or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of Lessee, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor and Guarantor, Lessor shall have the right to accelerate all of Lessee's obligations under the Lease and Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor to Lessor, subject to the terms of this Guaranty. Guarantor waives any defense arising by reason of any disability or other defense of Lessee or by reason of the cessation from any cause whatsoever of the liability of Lessee.

Appears in 1 contract

Samples: Lease Agreement (Capricor Therapeutics, Inc.)

SEPARATE AND DISTINCT OBLIGATIONS. Guarantor acknowledges and agrees that Guarantor's ’s obligations to Lessor Landlord under this Guaranty are separate and distinct from Lessee's Tenant’s obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on Guarantor's ’s obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee Tenant or for any substantial part of its property, (c) any assignment by Lesseef or Tenant for the benefit of creditors, (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee Tenant in the furtherance of any of the foregoing, foregoing or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the applicable Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee Tenant or for any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor under this Guaranty is not not, and shall not be be, affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee Tenant or any trustee, or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeTenant, any such trustee or any such third party's ’s obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor Landlord and Guarantor, Lessor Landlord shall have the right to accelerate all of Lessee's Tenant’s obligations under the Lease and Guarantor's ’s obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor to Lessor, subject to the terms of this GuarantyLandlord. Guarantor waives any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Purchase Agreement (Superior Drilling Products, Inc.)

SEPARATE AND DISTINCT OBLIGATIONS. Guarantor acknowledges and agrees that Guarantor's obligations to Lessor Landlord under this Guaranty are separate and distinct from LesseeTenant's obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall will not have any effect whatsoever on any Guarantor's obligations to Lessor hereunderLandlord under this Guaranty, each of which obligations shall continue continues in full force or effect as though such event had not occurred: (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy LawsBANKRUPTCY LAWS"), (b) the consent by Lessee Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator custodian or similar official of Lessee Tenant or for of any substantial part of its property, (c) any assignment by Lesseef or Tenant for the benefit of creditors, (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, (e) the taking of a corporate action by Lessee Tenant in the furtherance of any of the foregoing, ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator trustee (or similar official) of Lessee Tenant or for of any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor under this Guaranty is not and shall will not be affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee Tenant or any trustee, or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall will remain in full force and effect with respect to the full performance of LesseeTenant, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor Landlord and Guarantor, Lessor shall Landlord will have the right to accelerate all of LesseeTenant's obligations under the Lease and each Guarantor's obligations under this Guaranty. In such event, all such obligations shall will become immediately due and payable by Guarantor Guarantors to Lessor, subject to the terms of this GuarantyLandlord. Guarantor waives any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from for any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Building Lease (Surebeam Corp)

SEPARATE AND DISTINCT OBLIGATIONS. Each Guarantor acknowledges and agrees that such Guarantor's obligations to Lessor Landlord under this Guaranty are separate and distinct from LesseeTenant's obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on any Guarantor's obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee Tenant or for any substantial part of its property, (c) any assignment by Lesseef or Tenant for the benefit of creditors, (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee Xxxxxx in the furtherance of any of the foregoing, ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee Tenant or for any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor Guarantors under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor the Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee Tenant or any trustee, or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeTenant, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of or this Paragraph 5 occur, as between Lessor Landlord and each Guarantor, Lessor Landlord shall have the right to accelerate all of LesseeTenant's obligations under the Lease and each Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor Guarantors to Lessor, subject to the terms of this GuarantyLandlord. Guarantor waives Guarantors waive any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Industrial Real Estate Lease (3pea Technologies Inc.)

SEPARATE AND DISTINCT OBLIGATIONS. Each Guarantor acknowledges and agrees that such Guarantor's obligations to Lessor Landlord under this Guaranty are separate and distinct from LesseeTenant's obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on any Guarantor's obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, laws as now constituted or hereafter amended or replaced, replaced or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee Tenant or for any substantial part of its property, (c) any assignment by Lesseef or Tenant for the benefit of creditors, (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee Tenant in the furtherance of any of the foregoing, foregoing or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the Bankruptcy Laws, Laws or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) official of Lessee Tenant or for any substantial part of its property, property or ordering the winding-winding up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor under this Guaranty is not not, and shall not be be, affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease lease is assumed by Lessee Tenant or any trustee, trustee or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeTenant, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, proceeding or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor Landlord and Guarantor, Lessor Landlord shall have the right to accelerate all of LesseeTenant's obligations under the Lease and Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor to Lessor, subject to the terms of this GuarantyLandlord. Guarantor waives any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Lease Agreement (Manchester Technologies Inc)

SEPARATE AND DISTINCT OBLIGATIONS. Each Guarantor acknowledges and agrees that such Guarantor's ’s obligations to Lessor Landlord under this Guaranty are separate and distinct from Lessee's Tenant’s obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on any Guarantor's ’s obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee Tenant or for any substantial part party of its property, (c) any assignment by Lesseef or Tenant for the benefit of creditors, (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee Tenant in the furtherance of any of the foregoing, ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee Tenant or for any substantial part of its its-property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor Guarantors under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceedingproceedings. If, during any such proceedingproceedings, the Lease is assumed by Lessee Tenant or any trustee, or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeTenant, any such trustee or any such third party's ’s obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor Landlord and each Guarantor, Lessor Landlord shall have the right to accelerate all of Lessee's Tenant’s obligations under the Lease with respect to any repayment of the allowance under Section 4 thereof, and each Guarantor's ’s obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor Guarantors to Lessor, subject to the terms of this GuarantyLandlord. Guarantor waives Guarantors waive any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Sub Lease (Bank Holdings)

SEPARATE AND DISTINCT OBLIGATIONS. Each Guarantor acknowledges and agrees that such Guarantor's obligations to Lessor Landlord under this Guaranty are separate and distinct from LesseeTenant's obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on any Guarantor's obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: : (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), ; (b) the consent by Lessee Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee Tenant or for any substantial part of its property, ; (c) any assignment by Lesseef or Tenant for the benefit of creditors, ; (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, ; (e) the taking of corporate action by Lessee Tenant in the furtherance of any of the foregoing, or ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee Tenant or for any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. Initials ______________ 100 The liability of Guarantor Guarantors under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor Landlord under or related to the Lease for f or which Lessor Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee Tenant or any trustee, or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeTenant, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor Landlord and each Guarantor, Lessor Landlord shall have the right to accelerate all of LesseeTenant's obligations under the Lease and each Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor Guarantors to Lessor, subject to the terms of this GuarantyLandlord. Guarantor waives Guarantors waive any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Multi Plex Theater Lease (Cinemastar Luxury Theaters Inc)

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SEPARATE AND DISTINCT OBLIGATIONS. Guarantor acknowledges and agrees that Guarantor's obligations to Lessor Landlord under this Guaranty are separate and distinct from LesseeTenant's obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on any of Guarantor's obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee RC of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee RC to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee RC or for of any substantial part of its property, (c) any assignment by Lesseef or RC for the benefit of creditors, (d) the failure of Lessee RC generally to pay its debts as such debts become due, (e) the taking of a corporate action by Lessee RC in the furtherance of any of the foregoing, ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee RC in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee RC or for of any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor Landlord is required to reimburse Lessee RC pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee RC or any trustee, or thereafter assigned by Lessee RC or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeRC, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor Landlord and Guarantor, Lessor Landlord shall have the right right, at its option, to (i) accelerate all of LesseeTenant's (including RC's) obligations under the Lease and Guarantor's obligations under this Guaranty. In such , in which event, all such obligations shall become immediately due and payable by Guarantor to Lessor, subject Landlord or (ii) require Guarantor to perform on a timely basis all obligations of RC under the terms of this GuarantyLease. Guarantor waives any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from for any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Lease Agreement (Meyer Fred Inc)

SEPARATE AND DISTINCT OBLIGATIONS. Each Guarantor acknowledges and agrees that such Guarantor's obligations to Lessor Landlord under this Guaranty are separate and distinct from LesseeTenant's obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on any Guarantor's obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee Tenant or for any substantial part of its property, (c) any assignment by Lesseef or Tenant for the benefit of creditors, (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, (ea) the taking of corporate action by Lessee Tenant in the furtherance of any of the foregoing, ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee Tenant or for any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor Guarantors under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee Tenant or any trustee, or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeTenant, any such trustee or any such third party's obligations under the Lease. Lease If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor Landlord and each Guarantor, Lessor Landlord shall have the right to accelerate all of LesseeTenant's obligations under the Lease and each Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor Guarantors to Lessor, subject to the terms of this GuarantyLandlord. Guarantor waives Guarantors waive any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Sublease Agreement (Bernstein Leibstone Associates Inc /Ny/)

SEPARATE AND DISTINCT OBLIGATIONS. Each Guarantor acknowledges and agrees that such Guarantor's obligations to Lessor Landlord under this Guaranty are separate and distinct from LesseeTenant's obligations to Lessor Landlord under the Lease. The occurrence of any of the following events shall not have any effect whatsoever on any Guarantor's obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee Tenant or for any substantial part of its property, (c) any assignment by Lesseef or Tenant for the benefit of creditors, (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee Xxxxxx in the furtherance of any of the foregoing, ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee Tenant or for any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and an in effect for a period of sixty (60) consecutive days. The liability of Guarantor Guarantors under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. If, during any such proceeding, the Lease is assumed by Lessee Tenant or any trustee, or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeTenant, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor Landlord and each Guarantor, Lessor Landlord shall have the right to accelerate all of LesseeTenant's obligations under the Lease and each Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor Guarantors to Lessor, subject to the terms of this GuarantyLandlord. Guarantor waives Guarantors waive any defense arising by reason of any disability or other defense of Lessee Tenant or by reason of the cessation from any cause whatsoever of the liability of LesseeTenant.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Avalanche International, Corp.)

SEPARATE AND DISTINCT OBLIGATIONS. Guarantor acknowledges and agrees that Guarantor's obligations to Lessor Tenant under this Guaranty are separate and distinct from LesseeLandlord's obligations to Lessor Tenant under the Lease. Tenant may enforce this Guaranty without first (a) making any effort at collection or enforcement of any Guaranteed Obligations from or against Landlord or any other party that may be liable therefor, (b) exercising or asserting any other right or remedy which may be available in connection with the Guaranteed Obligations or resorting to or exhausting any other security, guaranty or collateral held with respect to the Guaranteed Obligations, or (c) asserting or filing any claim against the assets of Landlord, Guarantor, any partner of Guarantor, or any of them or any other guarantor or any other party whatsoever. The occurrence of any of the following events shall not have any effect whatsoever on Guarantor's obligations to Lessor Tenant hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: (a) with reference to Landlord, the commencement by Lessee or continuance of a voluntary or involuntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replaced, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee Landlord to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee or for any substantial part of its property, (c) any assignment by Lesseef or Landlord for the benefit of creditors, (d) the failure of Lessee Landlord generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee Landlord in the furtherance of any of the foregoing, ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Landlord in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Lessee Landlord or for any substantial part of its property, or ordering the winding-up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor Tenant under or related to the Lease for which Lessor Tenant is required to reimburse Lessee pursuant to any court order 01' Landlord in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceedingproceeding or pursuant to any court order in any bankruptcy. If, during any such proceeding, the Lease is assumed by Lessee Landlord or any trustee, or thereafter assigned by Lessee Landlord or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of LesseeLandlord, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor and Guarantor, Lessor shall have the right to accelerate all of Lessee's obligations under the Lease and Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor to Lessor, subject to the terms of this Guaranty. Guarantor waives any defense arising by reason of any disability or other defense of Lessee or by reason of the cessation from any cause whatsoever of the liability of Lessee.

Appears in 1 contract

Samples: Lease (Objective Systems Integrators Inc)

SEPARATE AND DISTINCT OBLIGATIONS. Each Guarantor acknowledges and agrees that such Guarantor's obligations to Lessor Landlord under this Guaranty are separate and distinct from Lesseetenant's obligations to Lessor Landlord under the eh Lease. The occurrence of any of the following events shall not have any effect whatsoever on any Guarantor's obligations to Lessor Landlord hereunder, each of which obligations shall continue in full force or effect as though such event had not occurred: ; (a) the commencement by Lessee Tenant of a voluntary case under the federal bankruptcy laws, as now constituted or hereafter amended or replacedreplace, or any other applicable federal or state bankruptcy, insolvency or other similar law (collectively, the "Bankruptcy Laws"), (b) the consent by Lessee Tenant to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official of Lessee Tenant or for any substantial part of its property, (c) any assignment by Lesseef or Tenant for the benefit of creditors, (d) the failure of Lessee Tenant generally to pay its debts as such debts become due, (e) the taking of corporate action by Lessee Tenant in the furtherance of any of the foregoing, ; or (f) the entry of a decree or order for relief by a court having jurisdiction in respect of Lessee Tenant in any involuntary case under the Bankruptcy Laws, or appointing a receiver, liquidator, assigneeassigned, custodian, trustee, sequestrator (or similar official) of Lessee Tenant or for any substantial part of its property, or ordering the winding-winding up or liquidation of any of its affairs and the continuance of any such decree or order unstayed and in effect for a period of sixty (60) consecutive days. The liability of Guarantor Guarantors under this Guaranty is not and shall not be affected or impaired by any payment made to Lessor Landlord under or related to the Lease for which Lessor Landlord is required to reimburse Lessee Tenant pursuant to any court order 01' or in settlement of any dispute, controversy or litigation in any bankruptcy, reorganization, arrangement, moratorium or other federal or state debtor relief proceeding. IfIf , during any such proceeding, the Lease is assumed by Lessee Tenant or any trustee, or thereafter assigned by Lessee Tenant or any trustee to a third party, this Guaranty shall remain in full force and effect with respect to the full performance of Lessee, any such trustee or any such third party's obligations under the Lease. If the Lease is terminated or rejected during any such proceeding, or if any of the events described in Subparagraphs (a) through (f) of this Paragraph 5 occur, as between Lessor and Guarantor, Lessor shall have the right to accelerate all of Lessee's obligations under the Lease and Guarantor's obligations under this Guaranty. In such event, all such obligations shall become immediately due and payable by Guarantor to Lessor, subject to the terms of this Guaranty. Guarantor waives any defense arising by reason of any disability or other defense of Lessee or by reason of the cessation from any cause whatsoever of the liability of Lessee.

Appears in 1 contract

Samples: Lease Agreement (Luminex Lighting Inc)

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