Common use of Should the Tenant Clause in Contracts

Should the Tenant. 7.1.1. fail to make payment of all or any amounts payable in terms of this Agreement on the due date; or 7.1.2. commit any breach whatsoever of any of the provisions of this Agreement; or 7.1.3. have any attachment, execution or similar processes issued against it, or fail to satisfy fully within 7 (Seven) days any judgment granted against it; or 7.1.4. be provisionally or finally sequestrated / liquidated or his estate be placed under administration; or 7.1.5. arrive at or attempt to arrive at a compromise with its creditors, then, and in such event, the Tenant agrees that: 7.1.6. the full balance of the Debt will immediately become due and payable notwithstanding that any portion thereof may not yet be due and payable; and 7.1.7. the Landlord shall be entitled, but not obliged, to immediately register the Tenant with the credit bureau or credit bureaus of their choice; and 7.1.8. the Landlord shall immediately and without notice either be entitled to institute action against the Tenant for recovery of all amounts owing in terms of this Agreement, and issue warrants of execution for the attachment of all goods of the Tenant, without prejudice to any other right which the Landlord may have as a result of such breach by the Tenant.