Tenant Bankruptcy. If Tenant becomes bankrupt or makes voluntary assignment for the benefit of creditors or if a receiver is appointed for Tenant, Landlord may terminate this lease by giving five (5) days written notice to Tenant of Landlord's intention to do so.
Tenant Bankruptcy. If an order for relief is entered or if a stay of proceeding or other acts become effective in favor of Tenant or Tenant’s interest in this Lease in any proceeding which is commenced by or against Tenant under the present or any future federal bankruptcy code or any other present or future applicable federal, state or other statute or law, Landlord shall be entitled to invoke any and all rights and remedies available to it under such bankruptcy code, statute, law or this Lease, including, without limitation, such rights and remedies as may be necessary to protect adequately Landlord’s right, title and interest in and to the Premises or any part thereof and to assure adequately the complete and continuous future performance of Tenant’s obligations under this Lease. Adequate protection of Landlord’s right, title and interest in and to the Premises, and adequate assurance of the complete and continuous future performance of Tenant’s obligations under this Lease, shall include, without limitation, the following requirements:
(a) Tenant, to the extent required by applicable law, comply with all of its obligations under this Lease;
(b) Tenant continue to use the Premises in the manner required by this Lease and applicable law;
(c) Tenant, to the extent that Tenant desires to assume this Lease, provide proof to Landlord, within one hundred (120) days after entry of such order or the effective date of such stay, of adequate assurance of the complete and continuous future performance of Tenant’s obligations under the Lease, a security deposit in an amount acceptable to Landlord, but in no event more than the Annual Rent payable hereunder for the then current lease year;
(d) Tenant, to the extent required by applicable law, will use any unencumbered assets after the payment of all secured obligations and administrative expenses to assure Landlord that sufficient funds will be available to fulfill the obligations of Tenant under this Lease; and
(e) If Tenant’s trustee, Tenant or Tenant as debtor-in-possession assumes this Lease and proposes to assign the same (pursuant to 11 U.S.C. §365, as the same may be amended) to any Person who shall have made a bona fide offer to accept an assignment of this Lease on terms acceptable to the trustee, Tenant or Tenant as debtor-in-possession, then notice of such proposed assignment, setting forth (i) the name and address of such Person, (ii) all of the terms and conditions of such offer, and (iii) the adequate assurance to be pro...
Tenant Bankruptcy. 1. In the event of the institution of any bankruptcy, reorganization or insolvency proceeding by or against any Tenant and, as a result of the institution of such proceeding, Tenant fails to timely comply with its obligations under the Lease to pay Base Rent, then, in such event, the obligations of the Company under this policy to pay to the Trustee the Ascertained Net Loss relating to a proof of loss initially submitted during such period of time as Tenant fails to meet its obligation under the Lease to pay Base Rent, as provided hereinabove, shall be suspended for so long as Tenant fails to meet its obligation under the Lease to pay Base Rent. The Company's obligations under this policy shall recommence upon the earlier of (i) resumption of payments by the Tenant, (ii) dismissal (other than by an order of discharge in favor of the Tenant) of any such proceeding of insolvency, bankruptcy, reorganization or the like, or (iii) the entry of an appropriate order confirming Tenant's assumption of its obligations under the Lease, including actual timely payment and receipt of rent by the Trustee.
2. Notwithstanding anything to the contrary in this Section IV.N. or in Section II.B., the Company shall not be relieved of liability under this policy if (i) a proof of loss for a c, complying with Section IV.B., has been submitted to the Company prior to the institution of any bankruptcy, reorganization or insolvency proceeding by or against the Tenant or (ii) the Tenant, an affiliate of the Tenant or any other party continues to pay Base Rent under the Lease.
Tenant Bankruptcy. No bankruptcy proceedings shall have initiated between the end of the Due Diligence Period and the Closing Date with respect to any Anchor Tenant; and
Tenant Bankruptcy. In the event the Tenant is adjudicated as bankrupt, (or makes an assignment for the benefit of creditors), this Lease, at the option of the Landlord, shall terminate upon thirty (30) days written notice and the Premises shall be surrendered to the Landlord, who hereby reserves the right to reenter and repossess the Premises.
Tenant Bankruptcy. 9.1 If, prior to closing, any tenant or tenants which in the aggregate lease more than 10% of the rentable area of the buildings on the Property or any tenant which leases more than 15,000 square feet of the buildings, files a petition for relief with any bankruptcy court, with jurisdiction or be the subject of any petition under Title 11 of the U.S. Code, as amended, Seller shall forthwith notify Purchaser of such filing, in writing. If Purchaser gives written notice of its election to terminate this Purchase Agreement to Seller within fifteen (15) days of Seller's giving notice of such bankruptcy as a result of such filing, this Purchase Agreement shall be terminated and become null and void, and the Xxxxxxx Money be returned to Purchaser and neither party hereto shall have any further obligations to any other party other than the indemnity and confidentiality obligations herein.
Tenant Bankruptcy. In the event of a Bankruptcy Action in which Tenant or any Affiliate thereof is a debtor:
(a) If this Lease is rejected in connection with such Bankruptcy Action by the Tenant or any Affiliate thereof or a trustee in bankruptcy for such Person (or other Person to such proceeding), such rejection shall be deemed an assignment by such Persons to Leasehold Mortgagee of the Leasehold Estate and all of Tenants interests in this Lease and neither the Leasehold Estate nor its Lease shall terminate or be cancelled and Leasehold Mortgagee shall have all rights and obligations of such Person as if such Bankruptcy Action had not occurred, unless Leasehold Mortgagee shall reject such deemed assignment by notice in writing to Landlord within thirty (30) business days following such rejection.
(b) If any court of competent jurisdiction or other tribunal shall determine that the Lease shall have been terminated or cancelled notwithstanding the provisions of clause (a) above as a result of such rejection, the rights of New Tenant to a New Lease under Section 19.6 shall not be affected thereby, and Leasehold Mortgage and Landlord agree that New Tenant shall enter into such New Lease pursuant to the terms and conditions of Section 19.6 notwithstanding the foregoing.
Tenant Bankruptcy. Subject to the rights of Secured Party hereunder, if this Lease is assigned to any person or entity pursuant to the provisions of the Bankruptcy Code, 11 U.S.C., Section 101, et seq. (the "Bankruptcy Code"), any and all moneys or other considerations payable or otherwise to be delivered in connection with such assignment shall be paid and delivered to, and shall be and remain the exclusive property of, the Landlord and shall not constitute property of Tenant, or the estate of Tenant, within the meaning of the Bankruptcy Code. Any and all moneys or other considerations constituting Landlord's property under the preceding sentence not paid or delivered to Landlord shall be held in trust for the benefit of Landlord to be promptly paid or delivered to Landlord. 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
Tenant Bankruptcy. Tenant’s adjudication as a bankrupt or the filing of a petition in bankruptcy or for any arrangement under the Bankruptcy Code or Tenant’s insolvency or the appointment of a receiver of Tenant’s property; or
Tenant Bankruptcy. The bankruptcy of Tenant is not grounds for termination of the Lease so long as there is no default beyond Applicable Cure Periods (including the additional cure period provided above for the benefit of the leasehold mortgage). If this Lease is rejected in connection with a bankruptcy proceeding by Xxxxxx, or a trustee or similar party to such proceeding on behalf of a Tenant, such rejection shall be deemed an assignment by Tenant to the leasehold mortgagee of all of Tenant’s right, title, and interest in and to the Demised Premises and this Lease and the Lease shall not terminate. In connection therewith, the leasehold mortgagee shall have all of the right, title and interest of Xxxxxx as if such bankruptcy proceeding had not occurred, unless the leasehold mortgagee shall reject such deemed assignment by notice in writing to Landlord within thirty (30) days following the bankruptcy-related rejection. If any court of competent jurisdiction shall determine that, notwithstanding the terms of the preceding sentences, this Lease shall have been terminated as a result of such rejection, Landlord shall, on the leasehold mortgagee’s written election within thirty (30) days after such court’s determination, promptly enter into a direct new lease with the leasehold mortgagee or its designee for the Demised Premises on the same terms and conditions as those contained in this Lease, it being the intention of the parties to preserve this Lease and the leasehold estate created by this Lease for the benefit of the leasehold mortgagee without interruption.
