Tenant Bankruptcy Sample Clauses

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. 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. 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. 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. If at any time prior to Closing, a Tenant that leases an applicable Site is the subject of a voluntary or involuntary petition under bankruptcy, insolvency or similar law affecting creditors generally (“Bankruptcy Event”), Buyer may designate such Site as a Post Diligence Excluded Site by written notice given to Seller within ten (10) Business Days after Buyer receives notice of the Bankruptcy Event, and it will be excluded from this transaction as provided in Section 1.6 above.

Tenant Bankruptcy. If Tenant shall be the debtor in any proceeding under laws relating to bankruptcy or insolvency, and if the Agreement is rejected by Tenant or Tenant’s trustee in bankruptcy: 22.7.1 District shall not have the right to treat this Agreement as terminated except with the prior written consent of any Mortgagee; and the right to treat this Agreement as terminated in such event shall be deemed assigned to each and every Mortgagee, whether or not specifically set forth in any such Mortgage, so that the concurrence in writing of District and each Mortgagee shall be required as a condition to treating this Agreement as terminated in connection with such proceeding. 22.7.2 If this Agreement is not treated as terminated in accordance with this Section 22.7.2, then this Agreement shall continue in effect upon all terms and conditions set forth herein, including all Rent. Thereafter, Tenant or its successors or assigns shall be entitled to any offset against Rent payable hereunder for any damages arising from such rejection, and any such offset properly made shall not be deemed a default under this Agreement. The lien of any Mortgage then in effect shall extend to the continuing possessory rights of Tenant following such rejection with the same priority with respect to each such Mortgage, as it would have enjoyed had such rejection not taken place.

Tenant Bankruptcy. An “Event of Insolvency” is the occurrence with respect to Tenant of any of the following: (a) the earlier to occur of either (i) the filing of a petition for the appointment of a receiver or custodian or (ii) the appointment of a receiver or custodian for any of its property; (b) filing of a voluntary petition under the provisions of the Title 11 of the United States Code (the “Bankruptcy Code”) or under the insolvency laws of any state (the “Insolvency Laws”) or the admission in writing of its inability to pay debts generally as they become due; (c) filing of an involuntary petition against it as the alleged debtor under the Bankruptcy Code or any Insolvency Law which either (i) is not dismissed within sixty (60) days after filing, or (ii) results in the issuance of an order for relief against the alleged debtor; or (d) making or consenting to an assignment for the benefit of creditors or a composition of creditors.