Common use of Tenant’s Default Clause in Contracts

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (10) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.

Appears in 8 contracts

Samples: Lease Agreement (Fidelity National Information Services, Inc.), Form of Lease Agreement (Lender Processing Services, Inc.), Lease Agreement (Lender Processing Services, Inc.)

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Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Each of the following events shall be deemed to be an event of default (“Event of Default”) under this Lease ifLease: (i) Tenant fails failure to pay any installment of rent Rent or any other sum payable by Tenant hereunder monetary obligation as and when due due, and such failure continues for a period five (5) Business Days after Tenant’s receipt of ten (10) days after Landlord’s written notice from Landlord to Tenant that such payment has not been received, or thereof; (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, abandons the Premises; provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord a cessation of such violation, default or breach, or business as permitted herein be deemed abandonment by Tenant; (iii) Tenant files a petition commencing a voluntary casebecomes insolvent, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make makes an assignment for the benefit of creditors, or institutes a proceeding under state or federal bankruptcy laws (or successor laws) or Tenant shall admit be adjudged bankrupt or insolvent in writing its inability proceedings filed against Tenant; (iv) a writ of attachment or execution is levied on this Lease, or a receiver is appointed with authority to pay its debts generally as they become due. The notice and grace period provisions in clauses take possession of the Premises, which attachment, execution or receiver is not removed within thirty (i30) and (ii) above shall have no application to the Events days of Default referred to in clauses (iii) through filing or appointment of a receiver; (v) aboveTenant shall be liquidated or dissolved; (vi) Tenant shall violate Section 22 hereof; (vii) the estate or interest of Tenant in the Premises or any part thereof shall be levied upon or attached in any proceeding relating to more than One Hundred Thousand and No/100 Dollars ($100,000.00), and the same shall not be vacated, discharged or stayed pending appeal (or bonded or otherwise similarly secured payment) within the earlier of sixty (60) days after commencement thereof or thirty (30) days after receipt by Tenant of notice thereof from Landlord or any earlier period provided by Law for obtaining any stay pending appeal or to prevent foreclosure or sale; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable Law; (viii) Tenant fails to maintain any insurance required by this Lease; (ix) failure of Tenant to replenish the Security Deposit or provide a replacement Letter of Credit as provided in Section 5.E; and (x) failure by Tenant to perform any other covenant, agreement or undertaking of the Tenant contained in this Lease if the failure to perform is not cured within thirty (30) days after Tenant’s receipt of Landlord’s written notice thereof; provided, however, if the breach cannot reasonably be cured within thirty (30) days, the same shall not result in an Event of Default if Tenant commences to cure the breach within thirty (30) days of receipt of Landlord’s written notice and diligently and in good faith continues to prosecute the cure of said breach to completion, provided such breach is cured within ninety (90) days after Tenant’s receipt of Landlord’s written notice thereof.

Appears in 4 contracts

Samples: Master Lease Agreement (Cracker Barrel Old Country Store, Inc), Lease Agreement (Cracker Barrel Old Country Store, Inc), Master Lease Agreement (Cracker Barrel Old Country Store, Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant's failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease within five (5) business days after receipt by Tenant hereunder of written notice from Landlord that such Base Monthly Rent or other payment was not received when due due, (ii) the abandonment of the Premises by Tenant; (iii) Tenant's failure to observe and perform any other required provision of this Lease, where such failure continues for a period of ten thirty (1030) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, Landlord; provided, however, that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, Tenant shall not be deemed in default if it commences within such period to cure, and provided further that thereafter diligently prosecutes the same to completion; (iv) Tenant's making of any general assignment for the benefit of creditors; (v) the filing by or against Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing to have Tenant adjudged a voluntary case, bankrupt or has filed against it of a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant under any law relating to any state bankruptcy law or any similar state law, and(unless, in the case of any such involuntary actiona petition filed against Tenant, such action shall not be dismissed, discharged or denied the same is dismissed within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in filing); (vi) the filing thereof, or (iv) appointment of a custodian, receiver, trustee or liquidator receiver to take possession of Tenant or of all or substantially all of Tenant’s property 's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within sixty (60) days; or (vii) the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises shall be appointed or of Tenant's interest in any proceedings brought by or against Tenant andthis Lease, in the latter case, where such entity shall seizure is not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovedays.

Appears in 3 contracts

Samples: Verisign Inc/Ca, Verisign Inc/Ca, Verisign Inc/Ca

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event of default ("Event of Default") under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (10) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s 's property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s 's debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.

Appears in 3 contracts

Samples: Lease Agreement (Fidelity National Title Group, Inc.), Lease Agreement (Fidelity National Title Group, Inc.), Lease Agreement (Fidelity National Title Group, Inc.)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant's failure to pay any installment of rent including additional rent or any other sum payable payment due under this Lease by Tenant hereunder when the date such rent is due and such which failure continues for a period of ten (10) days after written notice from Landlord to Tenant that such payment has not been receivedLandlord, or (ii) the abandonment of the Premises by Tenant fails (with "abandonment" as used in this Lease having the meaning provided in California Civil Code Section 1951.3 or any successor statute; (iii) Tenant's failure to observe or and perform any other material covenant or agreement required provision of Tenant herein contained and this Lease, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) daysdays after written notice from Landlord, provided, (provided however, that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied deemed in default if Tenant commences within sixty (60) days after such period to cure the filing thereof, or Tenant consents or acquiesces in default and thereafter diligently prosecutes the filing thereof, or cure to completion); (iv) a custodian, receiver, trustee or liquidator Tenant's making of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (vii) the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days.

Appears in 2 contracts

Samples: Lease (Bea Systems Inc), Lease (Bea Systems Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) under this Lease if: (i) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when due and hereunder, where such failure continues for a period of ten (10) days after Tenant's receipt of written notice from thereof by Landlord to Tenant; b) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after Tenant's receipt of written notice thereof by Landlord; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; c) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within ninety (90) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within ninety (90) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred Civil Procedure Section 1161. Any notice given by Landlord to in clauses Tenant pursuant to California Civil Code 1161 with respect to any failure by Tenant to pay rent under this Lease on or before the date the rent is due shall provide Tenant with a period of no less than ten (iii10) through (v) abovedays to pay such rent or quit.

Appears in 2 contracts

Samples: Komag Inc /De/, Komag Inc /De/

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Each of the following shall be an event of default (“Event of Default”) under this Lease ifhereunder: (iA) if Tenant fails shall fail to pay any installment of rent Base Rent, Additional Rent or any other sum payable by Tenant hereunder when payment due under this Lease, and such failure continues shall continue for a period of ten five (105) business days following Landlord’s notice of same to Tenant, provided that such notice from Landlord shall be in lieu of, and not in addition to, any notice of default required by applicable law, and provided further Landlord shall be obligated to give only two (2) such notices per any twelve (12) month period, with subsequent payment default to be an Event of Default if such failure to pay shall continue for a period of five (5) days from the date such payment is due (without any notice); (B) if Tenant or any guarantor or surety of Tenant’s obligations hereunder shall (i) make a general assignment for the benefit of creditors; (ii) commence any proceeding for relief, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or of any substantial part of its property; (iii) become the subject of any such proceeding which is not dismissed within sixty (60) days after written notice from Landlord to Tenant that such payment has not been received, its filing or entry; or (iiiv) die or suffer a legal disability (if Tenant, guarantor or surety is an individual) or be dissolved or otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity); (C) Tenant fails shall fail to observe discharge or perform bond over any lien placed upon the Premises in violation of this Lease within thirty (30) days after Tenant receives notice that any such lien or encumbrance is filed against the Premises; (D) if Tenant shall fail to comply with any provision of this Lease, other material covenant or agreement of Tenant herein contained and than those specifically referred to hereinabove and, except as otherwise expressly provided therein, such failure continues after written notice given by or on behalf of Landlord to Tenant default shall continue for more than thirty (30) daysdays after Landlord shall have given Tenant written notice of such default, provided, however, that or such longer period if such non-monetary Event of Default by Tenant default cannot be reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence diligently commences the cure within the thirty (30) day period and diligently prosecutes such cure to effect a cure completion; and (E) if Tenant shall abandon the Premises for more than sixty (60) days. Upon the occurrence of said an Event of Default, no Event defined as aforesaid, then in any such case, notwithstanding any waiver or other indulgence of Default hereunder shall be declared any prior default, Landlord may terminate this Lease by Landlord if written notice to Tenant continues to proceed with diligence to cure said Event of Defaultsent at any time thereafter, but before Tenant has cured or removed the cause for such termination. Such termination shall take effect on the later of (i) the last day of the month in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breachwhich Tenant receives the notice, or (iiiii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code twenty-one (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (6021) days after Tenant receives the filing thereofnotice, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises and shall be appointed in without prejudice to any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment remedy Landlord might otherwise have for the benefit any prior breach of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovecovenant.

Appears in 2 contracts

Samples: Lease (Danger Inc), Lease by And (Avici Systems Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant's failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease by Tenant hereunder when due and the date such amount is due, where such failure continues for a period three (3) business days beyond written notice from Landlord that such amount was not received by the due date, (ii) the abandonment or vacation of ten the Premises by Tenant; (10iii) Tenant's failure to observe and perform any other required provision of this Lease, where such failure continues for thirty (30) days after written notice from Landlord to Tenant provided, however, that if the nature of the Default is such payment has that it cannot been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than reasonably be cured within thirty (30) days, provided, however, that Tenant shall not be in Default if such non-monetary Event of Default by Tenant cannot reasonably be cured commences within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence period to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under and thereafter diligently prosecutes the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant same to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or completion; (iv) a custodian, receiver, trustee or liquidator Tenant's making of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (vii) the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days.

Appears in 2 contracts

Samples: Lease Agreement (Broadcom Corp), Lease Agreement (Broadcom Corp)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event of default (“Event of Default”a) under this Lease if: (i) If Tenant fails to pay any installment of rent Fixed Rent or any Additional Rent or other sum payable by Tenant or charge hereunder when due and such failure continues for a period of within ten (10) days after written notice from Landlord to Tenant that such payment has not been receivedthe same is due; or (b) (intentionally), or (iic) (intentionally deleted), or (d) if any assignment shall be made by Tenant (or any assignee or sublessee of Tenant) for the benefit of creditors, or (e) if Tenant’s leasehold interest shall be taken on execution or by other process of law, or (f) if a petition is filed by Tenant (or any assignee or sublessee of Tenant) for adjudication as a bankrupt, or for reorganization or an arrangement under any provision of any bankruptcy act then in force and effect, or (g) if an involuntary petition under the provisions of any bankruptcy act is filed against Tenant (or any assignee or sublessee of Tenant) and such involuntary petition is not dismissed within sixty (60) days thereafter, or (h) if Tenant (or any assignee or sublessee of Tenant) shall be declared bankrupt or insolvent according to law, or (i) if a receiver, trustee or assignee shall be petitioned for and not contested by Tenant for the whole or any part of Tenant’s (or such assignee’s or sublessee’s) property, or if a receiver, trustee or assignee shall be appointed over Tenant’s (or such other person’s) objection and not be removed within sixty (60) days thereafter, or (j) (reserved), or (k) if Tenant fails to observe or perform any other material covenant covenant, agreement or agreement of Tenant herein contained condition hereunder and such failure default continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after notice (provided, however, that if such thirty (30) day period shall be reasonably extended for up to an additional sixty (60) days in the case of non-monetary Event default if the matter complained of Default by Tenant can be cured, but the cure cannot reasonably be cured completed within such thirty (30) day period and Tenant begins promptly to cure within such period and thereafter diligently completes the cure; if such matters cannot be cured then there shall be no cure period), then, and provided in any such case, Landlord and its agents and employees lawfully may, in addition to and not in derogation of any remedies for any preceding breach, immediately or at any time thereafter, enter into and upon the Demised Premises or any part thereof in the name of the whole, or mail or deliver a notice of termination of the Term addressed to Tenant at the Demised Premises or at any other address herein provided, and thereby terminate this Lease and repossess the same as of Landlord’s former estate. Upon such entry or mailing or delivery, as the case may be, the Term shall terminate, all executory rights of Tenant and all obligations of Landlord under this Lease shall immediately cease, and Landlord may expel Tenant and all persons claiming by, through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenants; and Tenant, to the extent permitted by applicable law, hereby waives all statutory and equitable rights to its leasehold (including without limitation rights in the nature of further that cure or of redemption, if any). Landlord may, without notice (but subject to applicable law), store Tenant’s effects (and those of any person claiming by, through or under Tenant) at the expense and risk of Tenant is proceeding with due diligence to effect a cure of said Event of Defaultand, no Event of Default hereunder shall be declared by if Landlord if Tenant continues to proceed with diligence to cure said Event of Defaultso elects, but in no event shall may sell such cure period extend beyond ninety effects at public auction or auctions or at private sale or sales after seven (907) days following notice to Tenant (which notice Tenant agrees is reasonable) and apply the net proceeds to the payment of all sums due to Landlord from Landlord Tenant, if any, and pay over the balance, if any, to Tenant. If any payment of such violationFixed Rent, default or breachAdditional Rent, or other payment due from Tenant to Landlord is not paid within five (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (605) days after the filing thereofdate due, or then Landlord may, at its option, in addition to all other remedies hereunder, impose a late charge on Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or equal to 3% of the Premises amount in question, which late charge will be due within ten (10) days of demand as Additional Rent (provided, however, that no such charge shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment imposed for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to first such late payment during any calendar year during the Events of Default referred to in clauses (iii) through (v) aboveTerm).

Appears in 2 contracts

Samples: Lease Agreement, Amended and Restated Lease Agreement (West Marine Inc)

Tenant’s Default. 14.1 Any other provisions in of this Lease notwithstanding, it shall be an a Tenant event of default (an “Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent Fixed Rent, Additional Rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (10) days after receipt of written notice from Landlord to Tenant that such payment has not been received, sum is unpaid (provided that Landlord shall only be required to notify Tenant twice within any twelve (12) month period after which Tenant’s failure to pay Fixed Rent or Additional Rent hereunder when due shall automatically constitute an Event of Default without the requirement of written notice to Tenant); or (ii) Tenant fails to perform or observe or perform any other material covenant covenant, condition or agreement of Tenant herein contained this Lease and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, ; provided, however, that if such non-monetary Event failure is of Default by such a nature that Tenant cannot reasonably be cured remedy the same within such the said thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder then such thirty (30) day period shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, extended (but in no event shall longer that sixty (60) days) so long as Tenant commences promptly same and diligent prosecutes such cure remedy to completion; (iii) Tenant abandons the Premises for a period extend beyond ninety of more than thirty (9030) days following notice from Landlord of such violation, default or breach, and fails to pay Rent hereunder when due; or (iiiiv) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United Unites States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy or insolvency law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.filing

Appears in 2 contracts

Samples: Lease Agreement (Spero Therapeutics, Inc.), Lease Agreement (Spero Therapeutics, Inc.)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event of default (“Event of Default”1) under this Lease if: (i) Tenant fails to pay any installment of If rent or any other sum payable by Tenant payment required to be made hereunder when due and such failure continues shall not be paid for a period of more than ten (10) days after written Tenant shall have received notice from Landlord to Tenant that such of the failure of payment has not been received, hereof; or (ii2) Tenant fails to observe if there shall be a failure in the performance or perform observance of any other material covenant agreement or agreement condition contained herein on the part of Tenant herein contained to be performed or observed and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than shall not be corrected within thirty (30) days, provided, however, that days after Tenant shall receive notice from Landlord of such failure (or such longer period as may be required to correct such failure if such non-monetary Event of Default by Tenant cannot reasonably be cured within such said thirty (30) day periodperiod Tenant shall commence to correct the same and thereafter diligently pursue the correction thereof), then Landlord shall have the right, at its election, to terminate the term of this Lease by giving notice to Tenant of the exercise of said election, and provided further that Tenant is proceeding with due diligence in the event of Landlord's giving such notice of election to effect a cure terminate, the term of this Lease shall terminate on the date designated therefore in said Event of Defaultnotice, no Event of Default hereunder which date shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety not less than three (903) days following notice from Landlord after the receipt of such violationnotice by Tenant, default or breachand thereupon, or (iii) Tenant files a petition commencing a voluntary caseat any time thereafter, and without any further notice or has filed against it a petition commencing an involuntary casedemand, under Landlord may re-enter the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, demised premises in the manner prescribed by law. In case of any such involuntary actiontermination, such action shall not Tenant will indemnify Landlord against all loss of rent and other payments provided herein to be dismissedpaid by Tenant to Landlord between the time of termination and the expiration of the term of this Lease as then constituted. It is understood and agreed that at the time of the termination or at any time thereafter Landlord may rent the demised premises, discharged or denied within sixty (60) days and for a term which may expire after the filing thereofexpiration of the term of this Lease, without releasing Tenant from any liability whatsoever, that Tenant shall be liable for any expenses incurred by Landlord in connection with obtaining possession of the demised premises and in connection with any reletting, including, but, without limitation, reasonable attorney's fees and reasonable brokers' fees, and that any monies collected from any reletting shall be applied first to the foregoing expenses and then to payment of rent and all other payments due from Tenant to Landlord. Landlord shall use commercially reasonable efforts to mitigate its damages arising from Tenant's default or Tenant consents or acquiesces termination of this Lease in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all case of Tenant’s property 's default. It is expressly understood and agreed that no action or proceeding to oust Tenant from possession or to terminate the term of the Premises this Lease shall be appointed in any proceedings taken or brought by or against Tenant and, in Landlord unless the latter case, notices herein specified be first given and the times to cure defaults hereinabove specified have expired without such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovedefaults having been cured.

Appears in 2 contracts

Samples: Lease Agreement (Brooks Automation Inc), Lease Agreement (Brooks-Pri Automation Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event Upon the failure of default Tenant (“Event of Default”a) under this Lease if: (i) Tenant fails to pay any installment of the rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of additional rent within ten (10) days after the receipt of a written notice of such non-payment from Landlord to Tenant that such payment has not been received, or (iib) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than made within thirty (30) daysdays of the receipt of any written notice from Landlord, provided, however, that or if such non-monetary Event of Default by Tenant performance cannot reasonably be cured occur within 30 days, within such thirty further time as may be necessary to complete such performance, so long as such party diligently pursues such performance to completion; then Landlord may, at Landlord’s option, terminate this Lease and the Term hereof by giving to the Tenant ten (3010) day period, and provided further that Tenant is proceeding with due diligence to effect a cure days’ written notice of said Event such termination. In the event of Default, no Event any termination of Default hereunder shall be declared the Lease by Landlord if pursuant to this Section 10.02 the Tenant continues shall, notwithstanding such termination, continue to proceed with diligence pay and be liable for on the days originally fixed herein for they payment thereof, amounts equal to cure said Event the several installments of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary caserent and any other charges herein reserved as they would, under the Federal Bankruptcy Code (Title 11 terms of this Lease, become due if this Lease had not been terminated and whether the Premises be relet or remain vacant in whole or in part or for a period less than the remainder of the United States Code), as now or hereafter in effectTerm, or under for the whole thereof. Landlord shall make reasonable efforts to relet the Premises after any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, andsuch termination. In the event the Premises are relet, in whole or in part, by the case Landlord, the Tenant shall be entitled to a credit in the net amount of rent received by the Landlord in reletting, after deduction of reasonable expenses incurred in reletting the Premises and in collecting the rent in connection therewith. The Tenant shall also be liable to the Landlord for all expenses (including reasonable attorney’s fees) incurred by the Landlord in enforcing its rights under this Lease in the event of a default by the Tenant, and such expenses may also be deducted from any credit due the Tenant on account of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after reletting by the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveLandlord.

Appears in 2 contracts

Samples: Lease Agreement (Body Central Acquisition Corp), Lease Agreement (Body Central Acquisition Corp)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant’s failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease by Tenant hereunder when the date such amount is due and where such failure continues for a period three (3) business days after Tenants receipt of ten Landlord’s notice that Rent was not received, (10ii) the abandonment of the Premises by Tenant; (iii) Tenant’s failure to observe and perform any other required provision of this Lease, where such failure continues for thirty (30) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or Landlord; (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or making of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; (vii) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days; or (viii) the occurrence of any other event described as a default elsewhere in this Lease or any amendment thereto regardless of whether such event is defined as a material default and breach of this Lease in this Paragraph 13.

Appears in 2 contracts

Samples: Lease (Data Domain, Inc.), Monolithic Power Systems Inc

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant’s failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease by Tenant hereunder when due and the date such amount is due, where such failure continues for five (5) business days after Landlord’s delivery of written notice, (ii) the abandonment of the Premises by Tenant for a consecutive period of ten ninety (1090) days or longer; (iii) Tenant’s failure to observe and perform any other required provision of this Lease, where such failure continues for thirty (30) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, Landlord; provided, however, that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismisseddeemed in default if it commences within such period to cure, discharged or denied within sixty (60) days after and thereafter diligently prosecutes the filing thereof, or Tenant consents or acquiesces in the filing thereof, or same to completion; (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or making of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (vii) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease, Assignment and Assumption of Lease (Equinix Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any one or more of the following events shall constitute a default and breach of this Lease notwithstanding, it shall be an event by Tenant. 22A. The vacating or abandonment of default (“Event the Premises by Tenant. 22B. The failure of Default”) under this Lease if: (i) Tenant fails to pay make any installment payment of rent or any other sum payable payment required to be made by Tenant hereunder hereunder, as and when due and due, where such failure continues shall continue for a period of ten three (103) days after written notice from thereof by Landlord to Tenant. 22C. The failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by Tenant, other material covenant or agreement of Tenant herein contained and than described in Article 22B, above, where such failure continues shall continue for a period of thirty (30) days after written notice given hereof by or on behalf of Landlord to Tenant for Tenant; provided, however, that if the nature of Tenant's default is such that more than thirty (30) days, provided, however, that if days period and thereafter diligently prosecutes such non-monetary Event of Default cure to completion. 22D. The making by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that of any general assignment or general arrangement for the benefit of creditors; or the filing by or against Tenant is proceeding with due diligence of a petition to effect have Tenant adjudged a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breachbankrupt, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant under any law relating to any state bankruptcy law or any similar state law, and, (unless in the case of any such involuntary actiona petition filed against Tenant, such action shall not be dismissed, discharged or denied the same is dismissed within sixty (60) days after days; or the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) appointment of a custodian, receiver, trustee or liquidator a receiver to take possession of Tenant or of all or substantially all of Tenant’s property 's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises shall be appointed or of Tenant's interest in any proceedings brought by or against Tenant andthis Lease, where such seizure is not discharged in the latter case, such entity shall not be discharged within sixty thirty (6030) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovedays.

Appears in 2 contracts

Samples: Northern Empire Bancshares, Northern Empire Bancshares

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant's failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease by Tenant hereunder when due and the date such amount is due, where such failure continues for a period of ten five (105) days after written notice from Landlord to Tenant that such payment has not been receivedLandlord, or (ii) Tenant fails the abandonment of the Premises by Tenant; (iii) Tenant's failure to observe or and perform any other material covenant or agreement required provision of Tenant herein contained and this Lease, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice from Landlord; provided, however, however that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismisseddeemed in default if it commences within such period to cure, discharged or denied within sixty (60) days after and thereafter diligently prosecutes the filing thereof, or Tenant consents or acquiesces in the filing thereof, or same to completion; (iv) a custodian, receiver, trustee or liquidator Tenant's making of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (vii) the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days.

Appears in 2 contracts

Samples: Telocity Inc, Telocity Inc

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Each of the following events shall be deemed to be an event of default (“Event of Default”) under this Lease ifLease: (i) Tenant fails failure to pay any installment of rent Rent or any other sum payable by Tenant hereunder monetary obligation as and when due due, and such failure continues for a period of ten three (103) business days after Tenant’s receipt of Landlord’s written notice from Landlord to Tenant that such payment has not been received, or thereof; (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or abandons the Premises; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, Guarantor or Tenant consents or acquiesces in the filing thereofbecomes insolvent, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make makes an assignment for the benefit of creditors, or institutes a proceeding under state or federal bankruptcy laws (or successor laws) or Guarantor or Tenant shall admit be adjudged bankrupt or insolvent in writing its inability proceedings filed against Guarantor or Tenant; (iv) a writ of attachment or execution is levied on this Lease, or a receiver is appointed with authority to pay its debts generally as they become due. The notice and grace period provisions in clauses take possession of the Premises, which attachment, execution or receiver is not removed within thirty (i30) and (ii) above shall have no application to the Events days of Default referred to in clauses (iii) through filing or appointment of a receiver; (v) aboveGuarantor or Tenant shall be liquidated or dissolved; (vi) Tenant shall violate Section 22 hereof; (vii) the estate or interest of Tenant in the Premises or any part thereof shall be levied upon or attached in any proceeding relating to more than One Hundred Thousand and No/100 Dollars ($100,000.00), and the same shall not be vacated, discharged or stayed pending appeal (or bonded or otherwise similarly secured payment) within the earlier of sixty (60) days after commencement thereof or thirty (30) days after receipt by Tenant of notice thereof from Landlord or any earlier period provided by Law for obtaining any stay pending appeal or to prevent foreclosure or sale; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable Law; (viii) Tenant fails to maintain any insurance required by this Lease; (ix) failure by Tenant to perform any other covenant, agreement or undertaking of the Tenant contained in this Lease if the failure to perform is not cured within thirty (30) days after Tenant’s receipt of Landlord’s written notice thereof; provided, however, if the breach cannot reasonably be cured within thirty (30) days, the same shall not result in an Event of Default if Tenant commences to cure the breach within thirty (30) days of receipt of Landlord’s written notice and diligently and in good faith continues to prosecute the cure of said breach to completion, provided such breach is cured within sixty (60) days after Tenant’s receipt of Landlord’s written notice thereof; (x) to the extent required under the Guaranty, Guarantor fails to deliver the financial statements required to be delivered by Guarantor to Landlord if such failure is not cured within ten (10) days after Tenant’s receipt of Landlord’s written notice thereof; (xi) an event of default beyond all applicable notice and cure periods by Guarantor under the Guaranty; and (xii) an event of default beyond all applicable notice and cure periods by Tenant under Section 23(i) through Section 23(xi) of a lease agreement by and between Landlord (or an Affiliate of Landlord) and Tenant (or an Affiliate of Tenant) dated on or about the date hereof in substantially the same form as this Lease (each, a “Portfolio Lease”), or the subsection thereof analogous to Section 23(i) through Section 23(xi) hereof (provided, however, the Event of Default described in this clause (xii) shall be of no further force or effect from and after the date that is twenty four (24) months after the Commencement Date).

Appears in 2 contracts

Samples: Lease Agreement (Big Lots Inc), Lease Agreement (Big Lots Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) Any failure by Tenant to pay any rent under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (10) days after following Tenant's receipt of written notice from Landlord to Tenant that such payment rent is due under this Lease and has not been received, or (ii; b) The abandonment of the Premises by Tenant; c) A failure by Tenant fails to observe or and perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred Civil Procedure Section 1161. Any notice given by Landlord to in clauses Tenant pursuant to California Civil Code 1161 with respect to any failure by Tenant to pay rent under this Lease on or before the date the rent is due shall provide Tenant with a period of no less than ten (iii10) through (v) abovedays to pay such rent or quit.

Appears in 1 contract

Samples: Common and Maintenance Agreement (Annuncio Software Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant’s failure to pay any installment of rent including additional rent or any other sum payable payment due under this Lease within ten (10) days following Landlord’s notice of nonpayment, (ii) the abandonment of the Premises by Tenant hereunder when due Tenant; (iii) Tenant’s failure to observe and perform any other required provision of this Lease, where such failure continues for a period of ten thirty (1030) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) daysLandlord, provided, however, that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, Tenant shall not be deemed in default if it commences within such period to cure, and provided further that thereafter diligently prosecutes the same to completion; (iv) Tenant’s making of any general assignment for the benefit of creditors; (v) the filing by or against Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing to have Tenant adjudged a voluntary case, bankrupt or has filed against it of a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant under any law relating to any state bankruptcy law or any similar state law, and(unless, in the case of any such involuntary actiona petition filed against Tenant, such action shall the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not be dismissed, discharged or denied restored to Tenant within sixty (60) days after days; (vii) the filing thereofattachment, execution or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator other judicial seizure of Tenant or of all or substantially all of Tenant’s property assets located at the Premises or of the Premises shall be appointed Tenant’s interest in any proceedings brought by or against Tenant andthis Lease, in the latter case, where such entity shall seizure is not be discharged within sixty (60) days after such appointment or days; (viii) a default by Tenant consents to or acquiesces in such appointmentunder the Building 2 Lease (if then leased by Tenant from Landlord), or (vix) a default by Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for under the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses Building 3 Lease (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveif leased by Tenant from Landlord).

Appears in 1 contract

Samples: Commencement Agreement (NeurogesX Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) Any failure by Tenant to pay any rent under this Lease if: (ion or before the date such rent is due under this Lease; b) The abandonment of the Premises by Tenant; c) A failure by Tenant fails to pay any installment of rent or observe and perform any other sum payable provision of this Lease to be observed or performed by Tenant hereunder when due and Tenant, where such failure continues for a period of ten thirty (1030) days after written notice from thereof by Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receive to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred Civil Procedure Section 1161. Any notice given by Landlord to in clauses Tenant pursuant to California Civil Code 1161 with respect to any failure by Tenant to pay rent under this Lease on or before the date the rent is due shall provide Tenant with a period of no less than ten (iii10) through (v) abovedays to pay such rent or quit.

Appears in 1 contract

Samples: Sublease Agreement (Trident Microsystems Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Tenant shall be an event of in default (“Event of Default”) under this Lease if: in the event that Tenant (ia) Tenant fails shall fail to pay make any installment payment of rent or any other sum payable by Tenant money (including, without limitation, Basic Rent and Escalation Charge) when it is due hereunder when due and such failure continues shall continue for a period of ten five (105) days after written notice from Landlord to Tenant, or (b) shall fail or neglect to perform or observe any other covenant or obligation under this Lease and Tenant shall fail to remedy the same within thirty (30) days after notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and specifying such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty neglect (30) days, provided, however, that if such non-monetary Event failure or neglect is of Default by such nature that Tenant cannot reasonably be cured remedy the same within such thirty (30) day period, and provided further that . Tenant is proceeding with due diligence shall have such additional period of time to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord remedy the same if Tenant continues shall commence such remedy within such thirty (30) day period and thereafter diligently and continuously prosecute such remedy to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breachcompletion), or (iiic) Tenant files a petition commencing a voluntary caseshall commence reorganization, bankruptcy or has filed insolvency proceedings of, in case any such proceedings are brought against it a petition commencing an involuntary caseTenant, under if the Federal Bankruptcy Code same are not dismissed within thirty (Title 11 30) days or if any assignment shall be made of Tenant's property of the United States Code)benefit or creditors. If Tenant shall be in default under this Lease, Landlord shall have the all right and remedies as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy are available at law or in equity. Such rights and remedies shall include, without limitation, the right to evict Tenant, take exclusive possession of the Premises, continue to collect Basic Rent, Escalation Charges and other charges, terminate the Lease, obtain a judgement for all damages that might flow from a breach or termination of this Lease, re-let the Premises or any similar state law, andpart thereof and make any repairs or alterations to the Premises. Without limiting the foregoing, in the case event of any such involuntary actiontermination of this Lease as provided in this Section 21, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become duethe Basic Rent, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice Escalation Charges and grace period provisions in clauses (i) and (ii) above shall have no application all other sums payable hereunder up to the Events time of Default referred such termination, and in addition shall pay to in clauses (iii) through (v) above.Landlord as damages, at the election of Landlord, either:

Appears in 1 contract

Samples: Cyberkinetics Neurotechnology Systems, Inc.

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it The following shall be defined and deemed as an event "EVENT OF DEFAULT": (a) if Tenant shall default in the payment of the Minimum Rental or any additional rent and if Tenant shall fail to cure said default within five (“Event 5) business days after receipt from Landlord of Default”a written notice of such default, or, (b) if Tenant shall default in the performance or observance of any term, obligation, covenant or condition to be performed or observed by Tenant under this Section 19 or under any of Section 17 of this Lease; or (c) if Tenant shall default in the performance or observance of any other term, obligation, covenant or condition to be performed or observed by Tenant under this Lease if: and if Tenant shall fail to cure said default within twenty-five (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (1025) days after written receipt of notice of said default from Landlord Landlord, or if said default shall reasonably require longer than twenty-five (25) days to cure, if Tenant that such payment has not been receivedshall fail to commence to cure said default within twenty-five (25) days after receipt of notice thereof and continuously prosecute the curing of the same to completion with due diligence, or (iid) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues shall make an assignment of its property for the benefit of creditors or shall institute any proceedings relating to proceed with diligence it or its property under any bankruptcy or insolvency laws of any jurisdiction or shall petition to cure said Event any court for, or consent to, the appointment of Defaulta receiver, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord trustee or assignee of such violation, default it or breachany part of its property, or (iiie) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing if an involuntary case, order for relief under the Federal Bankruptcy Code (any provisions of Title 11 of the United States Code), Bankruptcy Code and any amendments thereto (hereinafter referred to as now or hereafter in effect, or under any similar law, or files or has filed the "BANKRUPTCY CODE") shall be entered against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereoftenant, or (ivf) a custodian, receiver, trustee or liquidator of if Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.declared

Appears in 1 contract

Samples: Kellstrom Industries Inc

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant's failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease by Tenant hereunder when due and the date such amount is due, where such failure continues for a period three (3) business days after written notice from Landlord; (ii) the abandonment of ten the Premises by Tenant; (10iii) Tenant's failure to observe and perform any other required provision of this Lease, where such failure continues for thirty (30) days after written notice from Landlord to Tenant that such payment has not been receivedLandlord, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, provided however that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismisseddeemed in default if it commences within such period to cure, discharged or denied within sixty (60) days after and thereafter diligently prosecutes the filing thereof, or Tenant consents or acquiesces in the filing thereof, or same to completion; (iv) a custodian, receiver, trustee or liquidator Tenant's making of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (vii) the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days.

Appears in 1 contract

Samples: Brio Technology Inc

Tenant’s Default. 14.1 Any other provisions Notwithstanding any provision to the contrary contained in the Lease, if a Default by Tenant under the Lease (including, without limitation, this Lease notwithstandingWork Agreement) has occurred at any time on or before the substantial completion of the Tenant Improvements, it shall be an event of default (“Event of Default”) under this Lease if: then (i) Tenant fails in addition to pay any installment of rent or any all other sum payable by Tenant hereunder when due rights and such failure continues for a period of ten (10) days after written notice from remedies granted to Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state lawthe Lease, and, in Landlord shall have the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or right to withhold payment of all or substantially all of Tenant’s property or any portion of the Premises shall be appointed in any proceedings brought by or against Tenant andImprovement Allowance, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above all other obligations of Landlord under the terms of this Work Agreement shall have no application be forgiven until such time as [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. such default is cured pursuant to the Events terms of Default referred the Lease. [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. EXHIBIT B-1 LANDLORD WORK/WARM-SHELL SPECIFICATIONS AND DRAWINGS [ * ] = Certain confidential information contained in clauses (iii) through (v) abovethis document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 000 XXXXX XXXXXX ARCHITECTURAL DRAWINGS PREPARED BY XXX XXXXXXXX A-1 OVERALL SITE PLAN A-2 ENLARGED SERVICE YARD PLAN AND DETAILS A-003 SITE DETAILS A-004 ACCESSIBILITY REQUIREMENTS A-005 ENLARGED SITE PLAN A-101 1ST LEVEL FLOOR PLAN A-102 2ND LEVEL FLOOR PLAN A-103 3RD LEVEL FLOOR PLAN A-104 4TH LEVEL FLOOR PLAN A-105 ROOF LEVEL FLOOR PLAN A-106 PENTHOUSE ROOF PLAN A-101S 1ST LEVEL SLAB PLAN [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

Appears in 1 contract

Samples: Work Agreement (Aduro Biotech, Inc.)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (ia) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when due and hereunder, where such failure continues for a period five (5) days after receipt by Tenant of ten written notice of Landlord's failure to receive the payment in question; (10b) The abandonment of the Premises by Tenant; (c) A failure by Tenant to observe and perform any other provision of this Lease to be observed or performed by Tenant, where such failure continues for thirty (30) days after written notice from thereof by Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence shall not be deemed to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord in default if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall within such period commence such cure period extend beyond ninety and thereafter diligently prosecute the same to completion; (90d) days following notice from Landlord The making by Tenant of such violation, default any general assignment for the benefit of creditors; the filing by or breach, or (iii) against Tenant files of a petition commencing to have Tenant adjudged a voluntary case, bankrupt or has filed against it of a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant under any law relating to any state bankruptcy law or any similar state law, and(unless, in the case of any such involuntary actiona petition filed against Tenant, such action shall not be dismissed, discharged or denied the same is dismissed within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in filing); the filing thereof, or (iv) appointment of a custodian, receiver, trustee or liquidator receiver to take possession of Tenant or of all or substantially all of Tenant’s property 's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within sixty (60) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises shall be appointed or of Tenant's interest in any proceedings brought by or against Tenant andthis Lease, in the latter case, where such entity shall seizure is not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become duedays. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred to Civil Procedure Section 1161, provided that such notices are given in clauses (iii) through (v) abovethe manner required by such statute.

Appears in 1 contract

Samples: Aehr Test Systems

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant’s failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease, where such failure to pay continues for five (5) days after written notice thereof by Tenant hereunder when due Landlord to Tenant, (ii) the abandonment of the Premises by Tenant; (iii) Tenant’s failure to observe and perform any other required provision of this Lease, where such failure continues for a period of ten thirty (1030) days after written notice from Landlord provided, however, that if the nature of the default is such that it cannot reasonably be cured within the 30-day period, Tenant shall not be deemed in default if it commences within such period to cure, and thereafter diligently prosecutes the same to completion; (iv) Tenant’s making of any general assignment for the benefit of creditors; (v) the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant that within thirty (30) days; (vii) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such payment has seizure is not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than discharged within thirty (30) days, provided, however, that if such non-monetary Event of Default or (viii) any default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveBuilding 1 Lease.

Appears in 1 contract

Samples: Netflix Inc

Tenant’s Default. 14.1 Any other provisions If Tenant defaults in this Lease notwithstandingthe payment of Minimum Rent, it shall be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent Percentage Rent or any Additional Rent or other sum charge payable by Tenant hereunder when due and Tenant does not cure such failure continues default within fifteen (15) days after written notice thereof shall have been given to Tenant (provided, that if Landlord has already given two (2) such notices within the twelve (12) month period immediately prior to the event of default, then for a the remainder of the 12-month period, only five (5) days notice will be required); or if Tenant defaults in the prompt and full performance of any other provision of this Lease and Tenant does not cure the default within thirty (30) days after written notice is given to Tenant (or such longer period as may be necessary to cure such default so long as Tenant begins correction of the default within the thirty (30) day period and thereafter proceeds with reasonable diligence and in good faith to effect the remedy as soon as practicable); then Tenant shall be in default under this Lease. Upon such default, Landlord may elect, upon at least ten (10) days after prior written notice of its intention to do so, if the default is not cured within such ten (10) day period, to terminate this Lease or, without terminating this Lease, to terminate Tenant's right to possession of the Premises. In addition to any other rights and remedies Landlord may have by law or otherwise (other than related to any right of acceleration of rent, which Landlord specifically waives), Landlord shall have the right of re-entry and may remove all persons and property from the Premises. Landlord's entry upon and taking possession of the Premises shall not in any way terminate this Lease or release the Tenant in whole or in part from Tenant's obligation to pay the Minimum Rent and Additional Rent hereunder for the then current Term or discharge Tenant from any loss or damage sustained by Landlord on account of Tenant's breach of the Lease, unless Landlord elects in writing to terminate the Lease. Upon Landlord's re-entering the Premises, Landlord shall use reasonable efforts to relet all or any part of the Premises for such term or terms and at such rental or rentals as Landlord, in the exercise of Landlord's reasonable discretion, may deem advisable. Upon such reletting, all rent and other sums received by Landlord from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second to the payment of any costs and expenses of such reletting, including reasonable brokerage fees and attorneys' fees and the reasonable costs of alterations and repairs undertaken for such reletting; third to the payment of rent and other charges due and unpaid hereunder and the residue, if any, shall be held by Landlord and applied in the payment of future amounts that become due and payable hereunder. If such rentals and other sums received from such reletting during any month be less than that to be paid during such month by Tenant hereunder, Tenant shall pay such deficiency immediately to Landlord. Notwithstanding any such reletting without termination, Landlord may at any time hereafter elect to terminate this Lease for such previous breach. Tenant shall pay all damages Landlord may incur by reason of Tenant's default, including (without limitation) reasonable costs and attorneys' fees. Landlord may, but shall not be obligated to, cure at any time upon reasonable notice to Tenant that such payment has (but not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more less than thirty (30) daysdays unless an emergency), provided, however, that if such non-monetary Event of Default any default by Tenant cannot reasonably be cured within under this Lease and whenever Landlord so elects, all costs and expenses incurred by Landlord in curing the default, together with interest thereon at the annual rate of two percent (2%) over the rate then announced by Chase Manhattan Bank as its base or prime rate from the date of such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder payment by Landlord shall be declared by payable as Additional Rent to the Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but and the Landlord shall have in no the event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), nonpayment thereof the same rights as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or default by Tenant consents or acquiesces in the filing thereofpayment of rent. If it shall be unlawful to charge Tenant the aforesaid interest rate, then in such event the interest rate shall be the highest rate per annum allowed by law. No consent or (iv) a custodianwaiver, receiver, trustee express or liquidator implied by Landlord to any breach of Tenant or any term of all or substantially all of Tenant’s property or this Lease on the part of the Premises Tenant shall be appointed in construed as a consent or waiver of any proceedings brought by other breach of the same or against Tenant andany term, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit unless in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovesigned by Landlord.

Appears in 1 contract

Samples: Purchase Agreement (Aei Real Estate Fund Xviii Limited Partnership)

Tenant’s Default. 14.1 Any 22.1 It is covenanted and agreed that if the TENANT shall neglect or fail to pay the rent and other charges herein provided on the due date, or within seven (7) days thereafter, or shall neglect or fail to perform or observe any of the other covenants, terms, provisions or conditions contained in this Lease notwithstandingthese presents and on his part to be performed or observed within fifteen (15) days of written notice of default, it provided that IF, during said fifteen (15) day period TENANT has commenced curing said default, TENANT shall be an event given a reasonable amount of default (“Event of Default”) under this Lease if: (i) Tenant fails time to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (10) days after written notice from Landlord to Tenant that such payment has not been receiveddiligently cure said default, or (ii) Tenant fails to observe if the estate hereby created shall be taken on execution or perform any by other material covenant process of law, or agreement of Tenant herein contained and such failure continues after written notice given by if the TENANT or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder Guarantor shall be declared by Landlord if Tenant continues bankrupt or insolvent according to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breachlaw, or (iii) Tenant files if any assignment shall be made of the property of the TENANT or Guarantor for the benefit of creditors, or if a receiver, trustee in bankruptcy or other similar officer shall be appointed to take charge of all or any substantial part of the TENANT'S or Guarantor's property by a court of competent Jurisdiction or a petition commencing a voluntary case, or has shall be filed against it a petition commencing an involuntary case, under for the Federal Bankruptcy Code (Title 11 reorganization of the United States Code), as TENANT or Guarantor under any provisions of the Bankruptcy Act now or hereafter in effectenacted, or under and any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall proceedings not be dismissed, discharged or denied dismissed within sixty (60) days after It is begun, or if TENANT or Guarantor shall file a petition for such reorganization, or for arrangements under any provisions of the filing Bankruptcy Act now or hereafter enacted and providing a plan for a debtor to settle, satisfy or extend the time for the payment of debts then, and in any of the said cases (notwithstanding any release or any consent in a former instance), the LANDLORD lawfully may, immediately or at any time thereafter and without demand or notice, enter into and upon the said premises or any part thereof in the name of the whole and repossess the same as of LANDLORD'S former estate, and expel the TENANT and those claiming through or under TENANT and remove TENANT'S or their effects (forcibly if necessary) without being deemed guilty of any manner of trespass, and without prejudice to any remedies which might otherwise be used for arrears of rent or precedence breach of covenant and upon entry as aforesaid, this Lease shall terminate. The TENANT covenants and agrees, notwithstanding any entry or re-entry by the LANDLORD whether by summary proceedings, termination or otherwise, to pay and be liable for on the days originally fixed herein for the payment thereof, amounts equal to the several installments of rent and other charges reserved as they would under the provisions of this Lease, become due if this Lease had not been terminated, or Tenant consents if the LANDLORD had not entered or acquiesces re-entered as aforesaid, and whether the demised premises be relet or remain vacant in whole or in part or for a period less than the remainder of the term, and for the whole thereof, together with reasonable costs including attorney fees if placed with an attorney for collection or for possession of Premises, but in the filing thereofevent the demised premises be relet, in whole or (iv) in part, by the LANDLORD, the TENANT shall be entitled to a custodian, receiver, trustee or liquidator credit in the net amount of Tenant or rent received by the LANDLORD in reletting after deduction of all or substantially all expenses reasonably incurred in reletting the demised premises and in collecting the rent in connection therewith. As an alternative, at the election of Tenant’s property or the LANDLORD, the TENANT will, upon such termination pay to the LANDLORD as damages, such a sum as at the time of such termination represents the present value of the amount in excess, if any, of the then value of the total rent and other benefits which would have accrued to LANDLORD under this Lease for the remainder of the Lease term if the Lease term had been fully complied with by TENANT over and above the then cash rental value (in advance) of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit balance of creditorsthe term, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovetogether with reasonable costs, including attorney fees if placed with an attorney for collection.

Appears in 1 contract

Samples: Lease (Satcon Technology Corp)

Tenant’s Default. 14.1 Any If Tenant defaults in the payment of any rent or other provisions in this Lease notwithstanding, it shall be an event of default (“Event of Default”) sums due and payable to Landlord under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure default continues for a period of ten (10) days after written notice from of such default has been given by Landlord to Tenant that such payment has not been receivedTenant, or if Tenant shall violate or default in the performance of any covenants, agreements, stipulations or other conditions contained herein (iiother than the payment of rent and other sums payable under this Lease) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure violation or default continues for a period of thirty (30) days after written notice of such violation or default has been given by or on behalf of Landlord to Tenant for more than Tenant, or, in the case of a default not curable within thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured shall fail to commence to cure the same within such thirty (30) day perioddays and thereafter proceed diligently to complete the cure thereof, then Landlord at its option may reenter and provided further that Tenant is proceeding repossess the Demised Premises with or without process of law, declare this Lease terminated and the term of this Lease ended forthwith, or pursue any other remedy available under law. Landlord may use such legal force as may be necessary to remove all persons and property then located in the Demised Premises. Landlord shall have full and uncontested right to take possession of Tenant's fixtures, inventory and other property in or about the Demised Premises, holding the same as additional security for the rent and other sums due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared hereunder. Notwithstanding such reentry and repossession by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord and the holding of such violationfixtures, default inventory or breachother personal property, or (iii) the liability of Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under for the Federal Bankruptcy Code (Title 11 payment of the United States Code)rent and other sums due hereunder and for the performance of Tenant's other obligations hereunder for the balance of the term of this Lease shall not be relinquished or extinguished. Landlord acknowledges that others do have existing liens as of date lease is signed and that these existing liens have priority over landlords claims. Tenant acknowledges, as now or hereafter agrees and warrants that (1) tenant will inform and receive approval from other existing and future lien holders that Landlord may, at Landlord's option, relocate any and all items in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant the demised premises to any state bankruptcy law or any similar state lawanother location, and, (2) Tenant and other lien holders will hold Landlord harmless for any or all damage or loss that may occur in said move and/or storage. Landlord at any time may commence one or more actions to collect any sums due from Tenant under this Lease. In the case event of any such involuntary actionreentry and repossession, Landlord shall have the right to relet all or any portion of the Demised Premises under such action terms and conditions as Landlord may deem appropriate and any such reletting shall not be dismissedrelieve Tenant of any of its obligations to Landlord under this Lease, discharged or denied within sixty (60) days except to the extent of any net rentals actually received by Landlord from such reletting after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially deducting all of Tenant’s property or Landlord's expenses, including but not limited to legal expenses, brokerage commissions and the costs of remodeling the Demised Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents so as to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment render it suitable for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovereletting.

Appears in 1 contract

Samples: Lease Agreement (Imagemax Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Each of the following events shall be deemed to be an event of default (“Event of Default”) under this Lease ifLease: (i) Tenant fails failure to pay any installment of rent Rent or any other sum payable by Tenant hereunder monetary obligation as and when due due, and such failure continues for a period of ten three (103) business days after Xxxxxx’s receipt of Landlord’s written notice from Landlord to Tenant that such payment has not been received, or thereof; (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or abandons the Premises; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, Guarantor or Tenant consents or acquiesces in the filing thereofbecomes insolvent, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make makes an assignment for the benefit of creditors, or institutes a proceeding under state or federal bankruptcy laws (or successor laws) or Guarantor or Tenant shall admit be adjudged bankrupt or insolvent in writing its inability proceedings filed against Guarantor or Tenant; (iv) a writ of attachment or execution is levied on this Lease, or a receiver is appointed with authority to pay its debts generally as they become due. The notice and grace period provisions in clauses take possession of the Premises, which attachment, execution or receiver is not removed within thirty (i30) and (ii) above shall have no application to the Events days of Default referred to in clauses (iii) through filing or appointment of a receiver; (v) aboveGuarantor or Tenant shall be liquidated or dissolved; (vi) Tenant shall violate Section 22 hereof; (vii) the estate or interest of Tenant in the Premises or any part thereof shall be levied upon or attached in any proceeding relating to more than One Hundred Thousand and No/100 Dollars ($100,000.00), and the same shall not be vacated, discharged or stayed pending appeal (or bonded or otherwise similarly secured payment) within the earlier of sixty (60) days after commencement thereof or thirty (30) days after receipt by Tenant of notice thereof from Landlord or any earlier period provided by Law for obtaining any stay pending appeal or to prevent foreclosure or sale; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable Law; (viii) Tenant fails to maintain any insurance required by this Lease; (ix) failure by Tenant to perform any other covenant, agreement or undertaking of the Tenant contained in this Lease if the failure to perform is not cured within thirty (30) days after Xxxxxx’s receipt of Landlord’s written notice thereof; provided, however, if the breach cannot reasonably be cured within thirty (30) days, the same shall not result in an Event of Default if Tenant commences to cure the breach within thirty (30) days of receipt of Landlord’s written notice and diligently and in good faith continues to prosecute the cure of said breach to completion, provided such breach is cured within sixty (60) days after Xxxxxx’s receipt of Landlord’s written notice thereof; (x) to the extent required under the Guaranty, Guarantor fails to deliver the financial statements required to be delivered by Guarantor to Landlord if such failure is not cured within ten (10) days after Xxxxxx’s receipt of Xxxxxxxx’s written notice thereof; and (xi) an event of default beyond all applicable notice and cure periods by Guarantor under the Guaranty.

Appears in 1 contract

Samples: Lease Agreement (Big Lots Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Tenant shall be an event of in default (“Event of Default”) under this Lease if: if (i) Tenant fails to pay default shall be made in the payment of the Rent or any installment thereof or in the payment of rent or any other sum payable required to be paid by Tenant hereunder when due under this Lease and such failure continues default shall continue for a period of ten thirty (1030) days after written notice from Landlord to Tenant that such payment has not been receivedTenant, or (ii) if default shall be made in the observance or performance of any of the other covenants or conditions in this Lease which Tenant fails is required to observe or and perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant default shall continue for more than thirty (30) daysdays after written notice to Tenant, provided, however, that if unless such non-monetary Event of Default by Tenant default cannot reasonably be cured within such thirty (30) day period, and in which event Tenant shall have such additional reasonable period of time as is necessary to cure such default provided further that Tenant it is proceeding with due diligence to effect diligently pursing such a cure during such additional period of said Event of Defaulttime, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) if a hazardous condition exists on or about the Premises and/or the Improvements which Tenant files is required to eliminate and such condition is not eliminated within a petition commencing a voluntary casereasonable period of time after written notice from Landlord, (iv) if the interest of Tenant in this Lease shall be levied on under execution or has filed against it a petition commencing an involuntary case, under other legal process and the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall same is not be dismissed, discharged stayed or denied vacated within sixty (60) days after thereafter other than in connection with the filing thereofexercise by a Leasehold Mortgagee of its rights under a Leasehold Mortgage, then Landlord may treat the occurrence of any one or more of the foregoing events as a breach of this Lease, and thereupon at its option may, with or without further notice or demand of any kind to Tenant or any other person, be entitled to exercise any rights and remedies provided at law or in equity; provided, however, subject to Section 2.6 above, in no event shall any breach of this Lease by Tenant or the occurrence of any of the foregoing events in this Section 14.1 provide a basis for termination of, or Tenant consents of Tenant's right of possession under, this Lease by Landlord and Landlord shall not attempt to terminate or acquiesces to cause the termination of Lease or in any way seek to terminate this Lease or Tenant's right of possession under this Lease as a result of any such breach it being agreed and understood that Landlord's sole remedies in the filing thereofevent of any such breach shall be limited to the recovery of damages and obtaining equitable relief, including specific performance of Tenant's covenants hereunder. Any and all damages whether paid or (iv) otherwise unpaid but incurred by Landlord as a custodian, receiver, trustee or liquidator result of Tenant or breaching any part of all or substantially all of Tenant’s property or of the Premises this Lease shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not deemed to be discharged within sixty (60) days after such appointment or Tenant consents Rent due pursuant to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovethis Lease.

Appears in 1 contract

Samples: Ground Lease (Savvis Communications Corp)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an In the event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment rent due hereunder within seven (7) days of written notice of such failure (service of a standard ”7 day notice” for non-payment of rent or any other sum payable by Tenant hereunder when due and such failure continues shall be sufficient for a period of ten (10this purpose) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails shall fail to observe open for business on or before the commencement date of the term of this Lease, or (iii) Tenant shall fail to perform any obligation on its part to be performed hereunder prior to such commencement date, or (iv) Tenant shall abandon or vacate the Leased Premises for thirty (30) consecutive days if for repair, remodeling, or due to force majeure or Landlord, or (v) Tenant permits this Lease to be taken under any writ of execution, or (vi) Tenant shall fail to perform any other material covenant of the terms, conditions, or agreement of Tenant herein contained and such failure continues after written notice given covenants under this Lease to be observed or performed by or on behalf of Landlord to Tenant for more than thirty (30) daysdays after written notice of such default shall have been received by Tenant, providedthen Landlord, howeverbesides other rights or remedies it may have, that shall have the right to declare this Lease terminated and the term ended (in which event, this Lease and the term hereof shall expire, cease and terminate with the same force and effect as though the date set forth in any required notice were the date originally set forth herein and fixed for the expiration of the term and Tenant shall vacate and surrender the Leased Premises but shall remain liable for all obligations arising during the balance of the original stated term as hereafter provided as if this Lease had remained in full force and effect) and Landlord shall have the right to bring a special proceeding to recover possession from Tenant holding over and/or Landlord may, in any such nonevents, without notice, re-monetary Event of Default enter the Leased Premises either by Tenant cannot reasonably be cured within such thirty (30) day periodforce or otherwise, and provided further that dispossess, by summary proceedings or otherwise, Tenant is proceeding with due diligence to effect a cure and the legal representative of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 other occupant of the United States Code)Leased Premises and remove their effects and hold the Leased Premises as if this Lease had not been made, as now and Tenant hereby waives the service of notice of intention to re-enter or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, andinstitute legal proceedings to that end. Notwithstanding the foregoing provisions of this Article 24, in the case event Tenant shall fail to perform or shall default in the performance of any term, covenant or condition of this Lease on three (3) or more separate occasions during any twelve (12) month period, then, even though such involuntary actionfailures or defaults may have been cured by Tenant, any further failure or default by Tenant during the term of this Lease shall be deemed a default without the ability of cure by Tenant. In the event of re-entry by Landlord, Landlord may remove all persons and property from the Leased Premises and such action property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, without notice or resort to legal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby. In the event Tenant shall not be dismissed, discharged or denied remove its property from the Leased Premises within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.twenty

Appears in 1 contract

Samples: Lease Agreement

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant a) under this Lease if: (i) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when due and hereunder, where such failure continues for a period of ten (10) days after Tenant’s receipt of written notice from thereof by Landlord to Tenant; b) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and perform any other material covenant provision of the Lease to the observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after Tenant’s receipt of written notice thereof by Landlord; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; c) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within ninety (90) days; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within ninety (90) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred Civil Procedure Section 1161. Any notice given by Landlord to in clauses Tenant pursuant to California Civil Code 1161 with respect to any failure by tenant to pay rent under this Lease on or before the date the rent is due shall provide Tenant with a period of no less than ten (iii10) through (v) abovedays to pay such rent or quit.

Appears in 1 contract

Samples: Western Digital Corp

Tenant’s Default. 14.1 Any other provisions in The occurrence of any one or more of the following events shall constitute a material default of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (ia) Tenant fails to pay any installment of rent or any other sum payable the failure by Tenant hereunder when due and to make any payments required to be made by Tenant hereunder, where such failure continues shall continue for a period of ten (10) days after written notice thereof from Landlord to Tenant that [such payment has not been receivedperiod includes the Florida statutory 3 day notice]; and (b) except as otherwise provided in this Lease, or (ii) the failure by Tenant fails to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by Tenant, other material covenant or agreement of Tenant herein contained and than described in subpart (a) above, where such failure continues shall continue for a period of thirty (30) days after written notice given by or on behalf of thereof from Landlord to Tenant for [such period includes the Florida statutory 3 day notice]; provided, however, that if the nature of Tenant's non-compliance is such that more than thirty (30) daysdays are reasonably required for its cure, provided, however, that then Tenant shall not be deemed to be in default if Tenant commenced such non-monetary Event of Default by Tenant cannot reasonably be cured cure within such said thirty (30) day periodperiod and thereafter diligently prosecutes such cure to completion. In the event of any such material default by Tenant, Landlord may at any time thereafter, with notice, terminate this Lease and/or bring an action for damages and/or action for eviction and/or injunctive relief (it being recognized that in such event Landlord may be irreparably harmed for which there is no adequate remedy at law). Notwithstanding the foregoing or anything contained in this Lease, (i) Landlord shall not have any right to accelerate the rents and other charges payable hereunder, (ii) Landlord shall not have the right to terminate this Lease or Tenant's right to possession unless Tenant fails to pay Rent or any other monetary obligations within applicable grace periods as provided in this Lease (but this provision shall not negate Landlord's right to sue xxx damages), and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case event of any such involuntary actiondefault by Tenant, such action Landlord shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents use reasonable efforts to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing mitigate its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovedamages.

Appears in 1 contract

Samples: Lease (Jerrys Famous Deli Inc)

Tenant’s Default. 14.1 Any other provisions If Tenant defaults in this Lease notwithstanding, it shall be an event the performance ---------------- of default (“Event of Default”) any obligation under this Lease ifLease, Landlord, without thereby waiving such default, and subject to all other applicable provisions of this Lease, including Section 7.3 hereof, may perform such obligation for the account and at the expense of Tenant: (a) immediately or at any time thereafter, and without notice (as long as Tenant is not diligently engaged in curing such default), in the case of emergency or in the case the default (i) Tenant fails to pay will result in a violation of any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (10) days after written notice from Landlord to Tenant that such payment has not been receivedmaterial Requirement, or (ii) Tenant fails to observe or perform will result in a cancellation of any insurance policy maintained by Landlord, and (b) in any other material covenant or agreement of Tenant herein contained and case if such failure default continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) daysdays (or the applicable cure period, providedif shorter) from the date Landlord gives notice of Landlord's intention so to perform the defaulted obligation. All costs and expenses reasonably incurred by Landlord in connection with any such performance by it for the account of Tenant and all reasonable costs and expenses, howeverincluding reasonable counsel fees and disbursements, that if such non-monetary Event incurred by Landlord in any action or proceeding (including any summary dispossession proceeding) brought by Landlord to enforce any obligation of Default Tenant under this Lease and/or right of Landlord in or to the Premises, shall be paid by Tenant cannot reasonably be cured to Landlord within such thirty (30) day perioddays of demand, with interest thereon at the Interest Rate from the date incurred by Landlord. Except as expressly provided to the contrary in this Lease, all costs and expenses which, pursuant to this Lease (including the Rules and Regulations) are incurred by Landlord and payable to Landlord by Tenant, and provided further that all charges, amounts and sums payable to Landlord by Tenant is proceeding with due diligence to effect a cure of said Event of Defaultfor any property, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Defaultmaterial, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violationlabor, default utility or breachother services which, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law this Lease or any similar state lawat the request and for the account of Tenant, andare provided, in the case of any such involuntary actionfurnished or rendered by Landlord, such action shall not be dismissed, discharged or denied within sixty become due and payable by Tenant to Landlord thirty (6030) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovedemand therefor.

Appears in 1 contract

Samples: Lease (Verisign Inc/Ca)

Tenant’s Default. 14.1 Any other provisions in A material breach of this Lease notwithstandingby Tenant shall exist if any of the following events (severally, it shall be an event of default (“"Event of Default"; collectively, "Events of Default") under this Lease ifshall occur: (i) if Tenant fails shall have failed to pay any installment Base Rent, Tenant's Percentage Share of rent Operating Expenses, or any other sum payable by required to be paid hereunder, including any interest due under Section 3, within five (5) days after the same is due hereunder; (ii) if Tenant hereunder when due shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and such failure continues for a period of ten Tenant shall have failed to cure the breach within thirty (1030) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than if the breach could reasonably be cured within the thirty (30) days, day period; provided, however, that if such non-monetary Event of Default by Tenant canthe failure could not reasonably be cured within such the thirty (30) day period, then Tenant shall not be in default unless it has failed to promptly commence and provided further that Tenant is proceeding with due diligence thereafter continue to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence make diligent and reasonable efforts to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or the failure as soon as practicable as reasonably determined by Landlord; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) if Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment have assigned its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or execution on, any material part of the property of Tenant upon the Premises or on any property essential to the conduct of Tenant's business upon the Premises shall have occurred, and Tenant shall have failed to obtain a return or release of the property within thirty (30) days thereafter, or prior to sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) if Tenant shall have failed to continuously and uninterruptedly conduct its business in the Premises, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses have abandoned or vacated the Premises; (ivi) and (ii) above if a court shall have no application made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the Events winding up or liquidation of Tenant, and the decree or order shall have continued for a period of thirty (30) days; (vii) if Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the federal Bankruptcy Laws or any applicable state law; or (viii) if Tenant shall have failed to comply with the provisions of Sections 22 or 24 of this Lease within the time periods stated therein. An Event of Default referred to in clauses (iii) through (v) aboveshall constitute a default under this Lease.

Appears in 1 contract

Samples: Lease (Lynx Therapeutics Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Each of the following events shall be deemed to be an event of default (“Event of Default”) under this Lease ifLease: (i) Tenant fails failure to pay any installment of rent Rent or any other sum payable by Tenant hereunder monetary obligation as and when due due, and such failure continues for a period of ten (10) business days after Tenant’s receipt of Landlord’s written notice from Landlord to Tenant that such payment has not been received, or thereof; (ii) Tenant fails to observe vacates or perform any other material covenant or agreement abandons the Premises in violation of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or Section 4.B hereinabove; (iii) Tenant files a petition commencing a voluntary casebecomes insolvent, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make makes an assignment for the benefit of creditors, or institutes a proceeding under state or federal bankruptcy laws (or successor laws) or Tenant shall admit be adjudged bankrupt or insolvent in writing its inability proceedings filed against Tenant; (iv) a writ of attachment or execution is levied on this Lease, or a receiver is appointed with authority to pay its debts generally as they become due. The take possession of the Premises, which attachment, execution or receiver is not removed within thirty (30) days of filing or appointment of a receiver; (v) Tenant shall be liquidated or dissolved; (vi) Tenant shall violate Section 25 hereof; (vii) the estate or interest of Tenant in the Premises or any part thereof shall be levied upon or attached in any proceeding relating to more than Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00), and the same shall not be vacated, discharged or stayed pending appeal (or bonded or otherwise similarly secured payment) within the earlier of ninety (90) days after commencement thereof or sixty (60) days after receipt by Tenant of notice thereof from Landlord or any earlier period provided by law for obtaining any stay pending appeal or to prevent foreclosure or sale; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable law; (viii) Tenant fails to maintain any insurance required by this Lease and the same is not cured within five (5) business days after Notice from Landlord; (ix) failure by Tenant to perform any other covenant, agreement or undertaking of the Tenant contained in this Lease if the failure to perform is not cured within thirty (30) days after Tenant’s receipt of Landlord’s written notice thereof; provided, however, if the breach cannot reasonably be cured within thirty (30) days, Tenant shall not be in default if Tenant commences to cure the breach within thirty (30) days of receipt of Landlord’s written notice and grace period provisions diligently and in clauses good faith continues to prosecute the cure of said breach to completion within one hundred and eighty (i180) days of receipt of Landlord’s written notice of such breach, subject to extension for reasons due to Force Majeure, and (x) a monetary event of default beyond all applicable notice and cure periods by Tenant under subsection 26(i), (iii) or (v) of a lease agreement by and between Landlord and Tenant dated on or about the date hereof in substantially the same form as this Lease (each, a “Portfolio Lease”), or the subsection thereof analogous to Section 26(i), (iii) and (iiv) above hereof, and, in addition to any applicable notice given by Landlord to Tenant resulting in such event of default under the applicable Portfolio Lease, Landlord has provided to Tenant an additional written notice specifying a default by Tenant under this Section 26(x), and Tenant has failed to cure the same within fifteen (15) business days thereafter; provided (I) it shall have no application to be deemed an event of default by Tenant under a Portfolio Lease for purposes of this Section 26(x) only if there is an event of default beyond all applicable notice and cure periods by the Events tenant under such Portfolio Lease and such tenant is the Tenant hereunder or any Affiliate thereof and (II) it shall not be an Event of Default referred to in clauses under this Section 26(x) if the landlord under such Portfolio Lease is not Landlord (iiii.e. [____________________]) through (v) aboveor an Affiliate thereof.

Appears in 1 contract

Samples: Lease Agreement (Valley National Bancorp)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifIf: (i) Tenant fails shall fail to pay any installment of rent or any other sum payable by Tenant hereunder when monies due under this Lease after the same are due, and such failure continues shall continue for a period of ten (10) days after receipt of written notice from Landlord thereof to Tenant that such payment has not been receivedTenant, or (ii) Tenant fails shall fail to observe or perform any other material covenant term, covenant, or agreement of Tenant condition herein contained contained, and such failure continues after written notice given by or on behalf of Landlord to Tenant shall continue for more than thirty (30) daysdays after receipt of written notice thereof, providedunless Tenant shall have taken steps in good faith within such period to remedy such failure and is continuing to so act with diligence and continuity, howeveror (iii) the Tenant’s interest herein or any part thereof be assigned or transferred, that either voluntarily or by operation of law, without permission of the Landlord when such permission is required by the terms of this Lease, whether by judgment, execution, death or any other means, or (iv) the Tenant shall file any petition or institute any proceedings under any bankruptcy act, state or federal, or if such non-monetary Event petition or proceeding be filed or be instituted or taken against the Tenant and such petition remains undischarged for a period of Default by ninety (90) days; or if any receiver of the business or of the property or assets of Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared appointed by Landlord if any court (except a receiver appointed at the instance or request of the Landlord) and Tenant continues fails to proceed with diligence to cure said Event obtain dissolution of Default, but in no event shall such cure period extend beyond the receiver within ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 after appointment of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, ; or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, make a general or shall make an any assignment for the benefit of its creditors, ; or (vi) Tenant shall admit abandon or vacate (other than a temporary cessation of operations in writing its inability connection with renovations of the Premises to pay its debts generally which Xxxxxx has obtained Landlord’s approval as they become due. The notice and grace period provisions required by the terms hereof) the Premises; then in clauses (i) and (ii) above any of such events Landlord shall have no application to the Events of Default referred to in clauses (iii) through (v) above.following options:

Appears in 1 contract

Samples: Lease

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it The following events shall be an event deemed to be “Events of default (“Event of Default”) Default by Tenant” under this Lease ifLease: (i) failure to pay Rent or any other monetary obligation as and when due, and such failure continues for five (5) business days after Tenant’s receipt of Landlord’s written notice thereof, provided that Landlord is required to give notice of such failure only twice in any consecutive 12-month period and Landlord is not required to give Tenant notice of default for the third and subsequent Rent and other payment defaults during any consecutive 12-month period so that for those defaults, an Event of Default occurs if Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder Rent when due and such the failure continues for a period of ten five (105) days after written notice from Landlord to Tenant that such payment has not been received, or business days; (ii) Tenant fails to observe abandonment of the Premises or perform any other material covenant or agreement portion thereof with nonpayment of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or Base Rent; (iii) Tenant files a petition commencing a voluntary casebecomes insolvent, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make makes an assignment for the benefit of creditors, or institutes a proceeding under state or federal bankruptcy laws (or successor laws) or Tenant shall admit be adjudged bankrupt or insolvent in writing its inability proceedings filed against Tenant; (iv) a writ of attachment or execution is levied on this Lease, or a receiver is appointed with authority to pay its debts generally as they become due. The notice and grace period provisions in clauses take possession of the Premises, which attachment, execution or receiver is not removed within thirty (i30) and (ii) above shall have no application to the Events days of Default referred to in clauses (iii) through filing or appointment of a receiver; (v) aboveTenant shall be liquidated or dissolved; (vi) Tenant shall violate Section 25 hereof; (vii) the estate or interest of Tenant in the Premises or any part thereof shall be levied upon or attached in any proceeding relating to more than Two Hundred Fifty Thousand Dollars ($250,000), and the same shall not be vacated, discharged or stayed pending appeal (or bonded or otherwise similarly secured payment) within the earlier of sixty (60) days after commencement thereof or thirty (30) days after receipt by Tenant of notice thereof from Landlord or any earlier period provided by law for obtaining any stay pending appeal or to prevent foreclosure or sale; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable law; (viii) Tenant fails to maintain any insurance required by this Lease and the same is not cured within ten (10) days after Notice from Landlord; (ix) failure by Tenant to perform any other covenant, agreement or undertaking of the Tenant contained in this Lease if the failure to perform is not cured within thirty (30) days after Tenant’s receipt of Landlord’s written notice thereof; provided, however, if the breach cannot reasonably be cured within thirty (30) days, Tenant shall not be in default if Tenant commences to cure the breach within thirty (30) days of receipt of Landlord’s written notice and diligently and in good faith continues to prosecute the cure of said breach to completion within a commercially reasonable period of time; and (x) an event of default beyond all applicable notice and cure periods by Tenant under subsection 26(i) through subsection 26(viii) of an absolute lease agreement by and between Landlord and Tenant dated on or about the date hereof in substantially the same form as this Lease (each, a “Portfolio Lease”), or the subsection thereof analogous to Subsection 26(i) through Subsection 26(viii) hereof; provided (I) it shall not be an Event of Default by Tenant under this Subsection 26(x) if there is an event of default beyond all applicable notice and cure periods under subsection 26(i) of a Portfolio Lease, or the subsection thereof analogous to Subsection 26(i) hereof, unless there is such an event of default of the same character and nature under at least three (3) other Portfolio Leases, (II) it shall be deemed an event of default by Tenant under a Portfolio Lease for purposes of this Subsection 26(x) only if there is an event of default beyond all applicable notice and cure periods by the tenant under such Portfolio Lease and such tenant is the Tenant hereunder or has Transferred its interest therein other than pursuant to subsection 24.B. of such Portfolio Lease, or the section thereof analogous to Subsection 24.B. hereof, or pursuant to any other Transfer whereby Landlord relieved the originally named tenant under such Portfolio Lease of all liability thereunder and (III) it shall not be an Event of Default by Tenant under this Subsection 26(x) if the landlord under such Portfolio Lease is not Landlord or an Affiliate thereof.

Appears in 1 contract

Samples: Absolute Lease Agreement (First Midwest Bancorp Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) under this Lease if: (i) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when due and hereunder, where such failure continues for a period of ten (10) days after written notice from thereof by Landlord to Tenant; b) The abandonment or vacation of the Premises by Tenant; c) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case era petition fried against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred to in clauses (iii) through (v) aboveCivil Procedure Section 1161.

Appears in 1 contract

Samples: Agreement (Concentric Network Corp)

Tenant’s Default. 14.1 Any other provisions The occurrence of any one or more of the following events shall constitute a "Default" by Tenant which if not cured within any applicable time permitted for cure below, shall give rise to Landlord's remedies set forth in this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifSection 24: (i) Tenant fails to pay any installment of rent or any other sum payable failure by Tenant hereunder to make when due and such failure continues for a period any payment of ten (10) days after written notice from Landlord to Tenant that such payment has not been received, or Rent; (ii) failure by Tenant fails to observe or perform any of the terms or conditions of this Lease to be observed or performed by Tenant other material covenant than the payment of Rent, or agreement of Tenant herein contained and as provided below, unless such failure continues is cured within thirty (30) days after written notice, or such shorter period expressly provided elsewhere in this Lease (provided, if the nature of Tenant's failure is such that more time is reasonably required in order to cure, Tenant shall not be in Default if Tenant commences to cure within such period and thereafter reasonably seeks to cure such failure to completion); (iii) failure by Tenant to comply with the Rules, unless such failure is cured within five (5) days after notice given by (provided, if the nature of Tenant's failure is such that more than five (5) days time is reasonably required in order to cure, Tenant shall not be in Default if Tenant commences to cure within such period and thereafter reasonably seeks to cure such failure to completion); (iv) vacation of all or on behalf a substantial portion of Landlord to Tenant the Premises for more than thirty (30) consecutive days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence or the failure to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 take possession of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied Premises within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or Commencement Date; (v) (a) making by Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an any guarantor of this Lease ("Guarantor") of any general assignment for the benefit of creditors, (b) filing by or shall admit against Tenant or any Guarantor of a petition to have Tenant or such Guarantor adjudged a bankrupt or a petition for reorganization or arrangement under any Law relating to bankruptcy (unless, in writing its inability the case of a petition filed against Tenant or such Guarantor, the same Is dismissed within sixty (60) days), (c) appointment of a trustee or receiver to pay its debts generally as they become due. The notice and grace period provisions take possession of substantially all of Tenant's assets located on the Premises or of Tenants interest in clauses (i) and (ii) above shall have no application this Lease, where possession is not restored to the Events of Default referred to in clauses (iii) through (v) above.Tenant within

Appears in 1 contract

Samples: Letter Agreement (N2h2 Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Each of the following shall be an event of default (“Event of Default”) under this Lease ifhereunder: (iA) if Tenant fails shall fail to pay any installment of rent Base Rent, Additional Rent or any other sum payable by Tenant hereunder when payment due under this Lease, and such failure continues shall continue for a period of ten seven (107) business days following Landlord’s notice of same to Tenant, provided that such notice from Landlord shall be in lieu of, and not in addition to, any notice of default required by applicable law, and provided further Landlord shall be obligated to give only two (2) such notices per any twelve (12) month period, with subsequent payment default to be an Event of Default if such failure to pay shall continue for a period of seven (7) business from the date such payment is due (without any notice); (B) if Tenant or any guarantor or surety of Tenant’s obligations hereunder shall (i) make a general assignment for the benefit of creditors; (ii) commence any proceeding for relief, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or of any substantial part of its property; (iii) become the subject of any such proceeding which is not dismissed within sixty (60) days after written notice from Landlord to Tenant that such payment has not been received, its filing or entry; or (iiiv) die or suffer a legal disability (if Tenant, guarantor or surety is an individual) or be dissolved or otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity); (C) Tenant fails shall fail to observe discharge or perform bond over any lien placed upon the Premises in violation of this Lease within thirty (30) days after Tenant receives notice that any such lien or encumbrance is filed against the Premises; (D) if Tenant shall fail to comply with any provision of this Lease, other material covenant or agreement of Tenant herein contained and than those specifically referred to hereinabove and, except as otherwise expressly provided therein, such failure continues after written notice given by or on behalf of Landlord to Tenant default shall continue for more than thirty (30) daysdays after Landlord shall have given Tenant written notice of such default, provided, however, that or such longer period if such non-monetary Event of Default by Tenant default cannot be reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence diligently commences the cure within the thirty (30) day period and diligently prosecutes such cure to effect a cure completion; and (E) if Tenant shall abandon the Premises for more than sixty (60) days. Upon the occurrence of said an Event of Default, no Event defined as aforesaid, then in any such case, notwithstanding any waiver or other indulgence of Default hereunder shall be declared any prior default, Landlord may terminate this Lease by Landlord if written notice to Tenant continues to proceed with diligence to cure said Event of Defaultsent at any time thereafter, but before Tenant has cured or removed the cause for such termination. Such termination shall take effect on the later of (i) the last day of the month in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breachwhich Tenant receives the notice, or (iiiii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code twenty-one (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (6021) days after Tenant receives the filing thereofnotice, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises and shall be appointed in without prejudice to any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment remedy Landlord might otherwise have for the benefit any prior breach of creditors, or shall admit in writing its inability to pay its debts generally as they become duecovenant. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.EXECUTION VERSION

Appears in 1 contract

Samples: Lease (One)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it It shall be an event of default (“"Event of Default”) under this Lease if: " if (i) Tenant fails to pay any monthly installment of rent Rent or any other sum payable by charge or payment required of Tenant hereunder when due and such failure continues for a period (even though no legal or formal demand has been made therefor); (ii) Tenant violates or fails to perform any of ten the other conditions, covenants or agreements herein made by TENANT, AND SUCH VIOLATION OR FAILURE CONTINUES FOR A PERIOD OF FIFTEEN (10I 5) days after written notice from Landlord thereof to Tenant that by Landlord; (iii) Tenant makes a general assignment for the benefit of its creditors or files a petition for bankruptcy or other reorganization, liquidation, dissolution or similar relief; (iv) a proceeding is filed against Tenant seeking any relief mentioned in the preceding clause; (v) a trustee, receiver or liquidator is appointed for Tenant or a substantial part of its property; (vi) Tenant vacates or abandons the Leased Premises (an absence of substantial activity by Tenant in the Leased Premises for more than 30 days to constitute such payment has not been receivedabandonment); or (vii) Tenant mortgages, assigns or otherwise encumbers its leasehold interest. If an Event of Default occurs, this Lease shall@ at the option of Landlord, cease and terminate and shall operate as a notice to quit (any written notice to quit, or (iiof Landlord's intention to re-enter, being hereby expressly waived) Tenant fails and Landlord may proceed to observe recover the possession under and by virtue of the provisions of the laws of the State of Florida, or perform any by such other material covenant or agreement of Tenant proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, the obligations herein contained and such failure continues after written notice given by or on behalf the part of Landlord to Tenant for more than thirty (30) daysbe performed shall cease without prejudice, provided, subject however, that if such non-monetary Event to the right of Default Landlord to recover from Tenant all Rent and other charges accrued up to the time of termination or recovery of possession by Tenant cannot reasonably Landlord, whichever is later. Should this Lease be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure terminated before the expiration of said the Term of this Lease by reason of an Event of Default, no Event of Default hereunder the Leased Premises may be relet by Landlord, for such rent and upon such terms as Landlord is able to obtain, and, if the full rent shall not be realized by Landlord, Tenant shall be declared liable for all damages sustained by Landlord, including, without limitation, the deficiency in Rent, reasonable attorneys' fees, other collection costs and all expenses (including leasing fees) of placing the Leased Premises in first class rentable condition. Any damage or loss sustained by Landlord if Tenant continues may be recovered by Landlord, at Landlord's option, (i) at the time of the reletting, (ii) in separate action@,from time to proceed with diligence to cure time, as said Event of Defaultdamage shall have been made more easily ascertainable by successive relettings, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under be deferred until the Federal Bankruptcy Code (Title 11 expiration of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, andterm of this Lease, in which event the case cause of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after deemed to have accrued until the filing thereof, or Tenant consents or acquiesces in the filing thereofdate of expiration of said term, or (iv) if Landlord is unable to find a custodiannew tenant for the Leased Premises within sixty days from termination of the Lease, receiver, trustee or liquidator of Tenant or shall immediately pay Landlord the present value (discounted at 10%) of all or substantially all of Tenant’s property or the Rent due for the remainder of the Premises Ten-n (as if there had been no termination for cause) as liquidated damages. The provisions contained in the paragraph shall be appointed in addition to and shall not prevent the enforcement of any proceedings brought by or claim Landlord may have against Tenant and, in for anticipatory breach of the latter case, such entity unexpired term of this Lease. All rights and remedies of Landlord under this Lease shall be cumulative and shall not be discharged within sixty (60) days after such appointment or Tenant consents exclusive of any other rights and remedies provided to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.

Appears in 1 contract

Samples: Lease (Cobratec Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it The following shall be defined and deemed as an event of default (“"Event of Default": (a) if Tenant shall default in the payment of the Minimum Rental or any additional rent and if Tenant shall fail to cure said default within five (5) business days after receipt from Landlord of a written notice of such default, or, (b) if Tenant shall default in the performance or observance of any term, obligation, covenant or condition to be performed or observed by Tenant under this Section 19 or under any of Section 17 of this Lease; or (c) if Tenant shall default in the performance or observance of any other term, obligation, covenant or condition to be performed or observed by Tenant under this Lease if: and if Tenant shall fail to cure said default within twenty-five (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (1025) days after written receipt of notice of said default from Landlord Landlord, or if said default shall reasonably require longer than twenty-five (25) days to cure, if Tenant that such payment has not been receivedshall fail to commence to cure said default within twenty-five (25) days after receipt of notice thereof and continuously prosecute the curing of the same to completion with due diligence, or (iid) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues shall make an assignment of its property for the benefit of creditors or shall institute any proceedings relating to proceed with diligence it or its property under any bankruptcy or insolvency laws of any jurisdiction or shall petition to cure said Event any court for, or consent to, the appointment of Defaulta receiver, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord trustee or assignee of such violation, default it or breachany part of its property, or (iiie) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing if an involuntary case, order for relief under the Federal Bankruptcy Code (any provisions of Title 11 of the United States Bankruptcy Code and any amendments thereto (hereinafter referred to as the "Bankruptcy Code), as now or hereafter in effect") shall be entered against tenant, or under any similar (f) if Tenant shall be declared bankrupt or insolvent according to law, or files or has filed against it a petition or answer in (g) if any bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action insolvency proceedings shall be commenced against Tenant and shall not be dismissed, discharged or denied dismissed within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereofthereafter, or (ivh) if a custodian, receiver, trustee trustee, or liquidator assignee shall be appointed without the consent of Tenant in any bankruptcy or insolvency proceedings of Tenant or the property of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity and shall not be discharged within sixty ninety (6090) days after such appointment or Tenant consents to or acquiesces in such appointmentthereafter, or (vi) if Tenant shall generally not pay Tenant’s debts as such debts become duebe Liquidated or dissolved, or shall make an assignment for the benefit of creditorsbegin proceedings toward its liquidation or dissolution, or shall admit shall, in writing any manner, permit the divestiture of substantially all of its inability assets, or (j) if, as a result of any failure by Tenant to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application perform or observe any of the terms, obligations, covenants or conditions to the Events of Default referred to in clauses (iii) through (v) above.be performed or observed by

Appears in 1 contract

Samples: Aviation Sales Co

Tenant’s Default. 14.1 Any other provisions This Lease is conditioned upon Tenant's faithful and punctual performance of all obligations, covenants, conditions, rules, regulations and agreements set forth in this Lease notwithstandingAgreement AND IN ALL OTHER LEASE AGREEMENTS BETWEEN THE PARTIES FOR PROPERTIES WITHIN THE COMPLEX WHICH ARE NOT COVERED BY THIS LEASE, it IF ANY, IN PRESENT FORM OR AS modified from time to time where permitted or reserved. Tenant default(s) shall constitute a breach of this Lease, in addition to any rights or remedies under Maryland law. By way of example rather than limitation, Tenant shall be an event of in default (“Event of Default”) under this Lease ifby: (i1) Tenant fails failure to pay the Base Rent, Additional Rent and/or other charges herein reserved as Rent, on the days and time and at the place the same are due (subject to a late charge of 5% of Rent and the grace periods stated herein; (2) failure to cure any installment non-monetary Tenant obligation, except holding over, within fifteen (15) days of rent written notice from Landlord; (3) failure to reimburse Landlord for cure of Tenant default within fifteen (15) days of demand for repayment; (4) failure to restore the security deposit; (5) failure to abide by and enforce rules and regulations after fifteen (15) days written notice to cure or comply; (6) failure to maintain the required Tenant insurance; (7) permitting an unauthorized assignment or sublet; (8) failure to comply with any zoning requirements or violation notices; (9) failure to comply with any building code, fire code, health code or similar regulations issued by a duly authorized governmental agency or authority; or (10) otherwise expose the Landlord to sanctions, tortuous claim or contractual claim not insured under Landlord's casualty and liability insurance or expressly consented to by the Landlord; or (11) DEFAULTING ON ANY PROVISION OF ANY LEASE AGREEMENT BETWEEN THE PARTIES (LANDLORD AND TENANT) FOR PROPERTIES WITHIN THE COMPLEX. It is further understood and agreed that the Landlord's acceptance of Rent or any other consideration shall not be deemed as an accord and satisfaction and Landlord shall have the absolute discretion to apply same against any sum payable by Tenant for any period or any reason due hereunder when without the same constituting a release of any other sums remaining due and such unpaid and without release of any claims for Tenant's default. The failure continues for a period to insist in any one or more instances upon the performance of ten (10) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code)covenants and conditions of this Lease Agreement whether same constitutes a Tenant default, shall not be construed as now thereafter waiving or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant relinquishing the Landlord's right to any state bankruptcy law or any similar state law, and, in the case performance of any such involuntary actioncovenants, conditions, rights or privileges, and same shall continue and remain in full force and effect and without waiver of default. Landlord's liability under a Landlord default shall be limited to Landlord's interest in the Facility only. The parties agree that Tenant shall have the right to dispute any additional charges of the Landlord. However, such action dispute shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or relieve Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability obligation to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovesuch amounts, pending settlement.

Appears in 1 contract

Samples: Purchase Agreement (United American Healthcare Corp)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) under this Lease if: (i) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when provided however, that Tenant may cure such default by payment to Landlord of the Base Monthly Rent or other sum due and such failure continues for a period of within ten (10) days after receipt by Tenant of written notice from specifying Landlord has failed to receive the amount in question; b) The abandonment of the Premises by Tenant; c) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and materially perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred to in clauses (iii) through (v) aboveCivil Procedure Section 1161.

Appears in 1 contract

Samples: Visx Inc

Tenant’s Default. 14.1 Any other provisions in A material breach of this Lease notwithstandingby Tenant shall exist if any of the following events (severally, it shall be an event of default (“"Event of Default"; collectively, "Events of Default") under this Lease ifshall occur: (i) if Tenant fails shall have failed to pay any installment Base Rent, Tenant's Percentage Share of rent increased Operating Expenses, or any other sum payable by Tenant required to be paid hereunder when due, including any interest due under Section 3, and such failure continues shall continue for a period three (3) days after written notice thereof from Landlord, except that Landlord shall only be required to give two (2) such notices in any calendar year, and thereafter any such failure by Tenant shall constitute an Event of ten Default without the requirement of notice from Landlord; (10ii) if Tenant shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant shall have failed to cure the breach within fifteen (15) days after written notice from Landlord if the breach could reasonably be cured within fifteen (15) day period; provided, however, if the failure could not reasonably be cured within the fifteen (15) day period, then Tenant shall not be in default unless it has failed to promptly commence and thereafter continue to make diligent and reasonable efforts to cure the failure as soon as practicable as reasonably determined by Landlord; (iii) if Tenant that such payment has not been receivedshall have assigned its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or (ii) Tenant fails to observe or perform execution on, any other material covenant or agreement part of the property of Tenant herein contained and such failure continues after written notice given by or on behalf any property essential to the conduct of Landlord Tenant's business shall have occurred, and Tenant shall have failed to obtain a return or release of the property within thirty (30) days thereafter, or prior to sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) if Tenant shall have abandoned the Premises; (vi) if a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for more than a period of thirty (30) days, provided, however, that ; (vii) if such non-monetary Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the federal Bankruptcy Laws or any applicable state law; or (viii) if Tenant shall have failed to comply with the provisions of Sections 22 or 24 of this Lease within the time periods stated therein. An Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect shall constitute a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovethis Lease.

Appears in 1 contract

Samples: Leapfrog Enterprises Inc

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a default by Tenant under this Lease notwithstanding, it shall Lease: (a) Tenant's failure to pay when due any monetary obligation required to be an event of default (“Event of Default”) paid under this Lease if: (iincluding, without limitation, Base Rent or Additional Rent) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such if the failure continues for a period three (3) business days after written notice of the failure from Landlord to Tenant; (b) Tenant's failure to provide any instrument or assurance as required by this Lease (including, without limitation, estoppel certificates, financial statements, and subordination agreements) if the failure continues for ten (10) business days after written notice of the failure from Landlord to Tenant; (c) Tenant's failure to perform any other obligation under this Lease if the failure continues for fifteen (15) days after written notice of the failure from Landlord to Tenant that (provided, however, in the event such payment has failure cannot been receivedbe cured within such 15-day period, despite Tenant's best efforts, then such 15-day period, despite Tenant's best efforts, then such 15-day period shall be extended to the extent necessary to allow such cure to be completed, but in no event longer than 60 days); (d) to the extent permitted by law: (1) a general assignment by Tenant or any guarantor of the Lease for the benefit of creditors; (2) the filing by or against Tenant, or any guarantor, of any proceeding under an insolvency or bankruptcy law, unless (iiin the case of an involuntary proceeding) Tenant fails the proceeding is dismissed within sixty (60) days; (3) the appointment of a trustee or receiver to observe take possession of all or perform any other material covenant or agreement substantially all the assets of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord any guarantor, unless possession is unconditionally restored to Tenant for more than or that guarantor within thirty (30) days and the trusteeship or receivership is dissolved; (4) any execution or other judicially authorized seizure of all or substantially all the assets of Tenant located on the Premises, or of Tenant's interest in this Lease, unless that seizure is discharged within thirty (30) days, provided, however, ; (e) the committing of waste on the Premises that if such non-monetary Event are not subject to cure in accordance with Clause (c) of Default by Tenant cannot reasonably be cured this paragraph; or (f) Tenant's failure to occupy the Premises within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) business days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment are ready for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveoccupancy.

Appears in 1 contract

Samples: Tenant Improvement Agreement (Collateral Therapeutics Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event of A default (“Event of Default”) under this Lease ifby Tenant shall exist if any of the following events shall occur: (i) 25.1.1 If Tenant fails to pay any installment of rent Rent or any other sum payable by required to be paid hereunder within seven (7) days after written notice from Landlord; provided, however, that such notice shall be in lieu of, and not in addition to, any notice required pursuant to Section 1161 of the California Code of Civil Procedure regarding unlawful detainer actions; or 25.1.2 If Tenant hereunder when due shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant shall have failed to cure such failure continues for a period of ten breach within thirty (1030) days after written notice from Landlord to Tenant that where such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot breach could reasonably be cured within such thirty (30) day period; provided, and provided further however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall not be declared by Landlord in default if Tenant continues to proceed with diligence it undertakes commercially reasonable measures to cure said Event such non-performance within the thirty (30) day period and diligently thereafter prosecutes the same to completion; or 25.1.3 If Tenant assigns its assets for the benefit of Default, but in no event its creditors; or 25.1.4 If a court shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default make or breach, enter any decree or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, order other than under the Federal Bankruptcy Code (Title 11 bankruptcy laws of the United States Code)adjudging Tenant to be insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of thirty (30) days. 25.2 REMEDIES Upon a default, as now Landlord shall have the following remedies, in addition to all other rights and remedies provided by law or hereafter otherwise provided in this Lease, to which Landlord may resort cumulatively or in the alternative: 25.2.1 Landlord may continue this Lease in full force and effect, or under any similar lawand this Lease shall continue in full force and effect as long as Landlord does not terminate this Lease, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant and Landlord shall have the right to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of collect Rent when due. 25.2.2 Landlord may terminate Tenant’s property or 's right to possession of the Premises shall be appointed at any time by written notice in accordance with applicable laws, and upon such termination relet the Premises or any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become duepart thereof. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.No act

Appears in 1 contract

Samples: Media Arts Group Inc

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Each of the following shall be an event of default (“Event of Default”) under this Lease ifLease: (ia) if Tenant fails shall fail to pay make any installment payment of rent Fixed Rent or any other sum payable by Tenant hereunder Additional Charges on the date when due and such failure continues shall continue for a period of ten five (105) days after Tenant's receipt of written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written (which notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared sent by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety earlier than two (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (602) days after such appointment payment was due); (b) if Tenant shall fail to perform or observe any of Tenant's covenants and if such failure shall continue for more than fifteen (15) days after Tenant's receipt of written notice of such failure or such longer time as may be reasonably required to cure because of the nature of the default (provided Tenant consents must have undertaken procedures to or acquiesces in cure the default within such appointment, or fifteen (v15) day period and thereafter diligently pursues such effort to completion); (c) Tenant shall generally not pay Tenant’s debts as such debts become duebe adjudged insolvent, make a transfer in fraud of creditors or shall make an assignment for the benefit of creditors; (d) Tenant shall file a petition under any section or chapter of the United States Bankruptcy Reform Act of 1978, as amended, or under any similar law or statute of the United States or any state thereof, or Tenant shall admit be adjudged bankrupt or insolvent in writing proceedings filed against Tenant thereunder; or (e) a receiver or trustee shall be appointed for all or substantially all of the assets of Tenant and Tenant shall not have had such appointment discharged within ninety (90) days after Tenant receives written notice of such appointment. Upon the occurrence of any Event of Default Landlord lawfully may, immediately or at any time thereafter, pursuant to summary dispossession or other legal proceedings, enter into and upon the Property or any part thereof, repossess the same as of its inability former estate, and expel Tenant, and those claiming an interest by, through or under Tenant, and remove any personalty left by Tenant (or anyone claiming by, through or under Tenant) without being deemed guilty of any manner of trespass, and without prejudice to pay its debts generally any remedies which might otherwise be used for arrearages of rent or other breach hereunder, or upon written notice to Tenant, terminate this Lease. If Landlord elects to repossess the Property due to an Event of Default as they become due. The notice aforesaid, then Tenant shall (a) remain liable for all rental and grace period provisions in clauses (i) other obligations accruing up to the date of such repossession, and (iib) above be liable to Landlord for all reasonable costs actually incurred in connection with the repossession and re-letting of the Property (including, without limitation, reasonable attorneys' and brokerage fees, but not including any costs of renovating or retrofitting the Premises), and (c) remain liable for the payment of all obligations payable hereunder, including without limitation, Fixed Rent and Additional Charges specified hereunder, all for the balance of the unexpired Term of this Lease in effect as of the date of repossession by Landlord. In the event the Property or any portion thereof is re-let by Landlord, Tenant shall have be entitled to a credit against its rental obligations hereunder in the amount of rents received by Landlord from any such re-letting of the Property less any reasonable costs incurred by Landlord (not previously reimbursed by Tenant) in connection with the repossession and re-letting of the Property (including without limitation reasonable attorneys' fees and brokerage commissions, but not including any cost of renovating or retrofitting the Premises). In the event of termination of Tenant’s right of possession of the Property by Landlord as aforesaid, Landlord shall use reasonable efforts to re-let the Property at a fair market rental or as near thereto as is possible under the circumstances then existing so as to minimize the damages suffered by Landlord and payable by Tenant hereunder. Notwithstanding anything contained herein, in no application to event is Landlord entitled to: (a) accelerate Rent; or (b) lock out Tenant or forcibly retake possession of the Events of Default referred to in clauses (iii) through (v) aboveProperty without due legal process and an appropriate court order.

Appears in 1 contract

Samples: Lease (One Liberty Properties Inc)

Tenant’s Default. 14.1 12. The following constitute a Default: Any failure to pay rent or other provisions in this Lease notwithstanding, it charges due hereunder as and when the same shall be an event due and payable (provided, however, that no more than twice during any calendar year, a Default shall not have occurred unless Tenant has failed to cure any such failure within three (3) business days following written notice thereof from Landlord) or if Tenant defaults in performing any other of default (“Event of Default”) under this Lease if: (i) Tenant Tenant's non-monetary obligations hereunder and fails to pay any installment cure such default within thirty (30) days after written notice from Landlord (or such longer period as may reasonably necessary to cure such default if such default is not reasonably susceptible of rent being cured within thirty (30) days, provided Tenant promptly commences its efforts to cure such default within thirty (30) days and proceeds with due diligence and good faith thereafter); or any other sum payable by if Tenant hereunder when due files for or is adjudicated a bankrupt; or if a permanent receiver is appointed for Tenant's property, including Tenant's interest in the Premises, and such failure continues for a period of ten receiver is not removed within sixty (1060) days after written notice from Landlord to Tenant that to obtain such payment has not been receivedremoval; or if whether voluntarily or involuntarily, Tenant takes advantage of any debtor relief proceedings under any present or future law, whereby the rent or any part thereof is, or (ii) Tenant fails is proposed to observe be reduced or perform any other material covenant payment thereof deferred; or agreement of Tenant herein contained and such failure continues after written notice given by is proposed to be reduced or on behalf of Landlord to Tenant for more than payment should be levied upon or attached under process against Tenant, not satisfied or dissolved within thirty (30) days, provided, however, that if such non-monetary Event days after written notice from Landlord to Tenant to obtain satisfaction thereof. Upon the occurrence of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure any of said Event the aforesaid events of Default, no Event without further notice or demand of Default hereunder Tenant in any instance, Landlord shall be declared by Landlord if Tenant continues have the option to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default pursue any one or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 more of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.following remedies:

Appears in 1 contract

Samples: Lease Agreement (Advanced Technical Products Inc)

Tenant’s Default. 14.1 Any other provisions 20.01 The Tenant shall be considered in default of this Lease notwithstanding, it shall be an event upon the happening of default (“Event any one of Default”) under this Lease ifthe following: (ia) Tenant fails Failure to pay in full within fifteen (15) days of receiving written notice that any installment and all installments of rent Rent or any other sum payable required by Tenant hereunder when due and such the terms of this Lease are due; (b) Violation of or failure continues for a period of ten (10) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material term, covenant or agreement condition of this Lease provided, however, Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than shall have thirty (30) days, provided, however, that if such days from the date of notice from Landlord within which to cure a non-monetary Event of Default by Tenant default, or if said default cannot reasonably be cured within such thirty (30) day period, days and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence diligently attempts to cure said Event the default, Tenant shall not be in default hereunder. (c) The commencement of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord any action or proceeding under any section or chapter of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 Act or under any similar law or statute of the United States Code), as now or hereafter in effectany state, or under the adjudication of Tenant as a bankrupt or insolvent by any court of competent jurisdiction or if any such court enters any order, judgment or decree finally approving any petition against Tenant seeking reorganization, liquidation, dissolution or similar lawrelief, or if Tenant files or has filed against it a voluntary petition or answer in bankruptcy or insolvency; (d) The appointment of a receiver or trustee for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of the assets of Tenant’s property or ; (e) The making of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, creditors by Tenant or shall admit if Tenant admits in writing its inability to pay its debts generally as they become duecome due or files Articles of Dissolution with the appropriate authority of the place of its incorporation; (f) The attachment, execution or other judicial seizure of substantially all of Tenant's assets located in the Premises or of Tenant's interest in this Lease; (g) The suspension of business by Tenant; (h) The abandonment of the Premises by the Tenant unless prior notice is given to Landlord and all Rent is kept current. The notice and grace period provisions in clauses (i) Products or goods in transit located on the premises that are not Tenants assets are not subject to any of the forgoing provisions in this Article 20. 20.02 Upon the occurrence of any event of default, Landlord shall, without any notice or demand, in addition to, and not in limitation of, any other remedy permitted by law or this Lease, have the option to do any one or more of the following: (iia) above Terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord. Should Tenant fail to surrender the Premises, Landlord may, without notice and without prejudice to any other remedy available, re-enter and take possession of the Premises and remove Tenant or anyone occupying the Premises and all property from the Premises, which property may be removed and stored in any other place in the Building in which the Premises are situated, or in any other place, for the account of, and at the expense and risk of Tenant. Tenant waives all claims for damages which may be caused by Landlord's reentry and taking possession of the Premises or removing or storing the furniture and property as provided. Tenant shall save Landlord harmless from any loss, fees, costs or damages suffered by Landlord because of any termination and reentry. No reentry shall be considered or construed to be an illegal forcible entry. (b) Without terminating this Lease, declare the entire amount of all Rent which would have become due and payable during the remainder of the term of this Lease to be due and payable immediately, in which event Tenant agrees to immediately pay the same to Landlord. This payment shall constitute payment in advance of the Rent stipulated for the remainder of the Lease term. Acceptance by Landlord of the payment of this Rent shall not constitute a cure or waiver of any then existing default or any subsequent default. (c) Enter upon and take possession of the Premises, without terminating this Lease and without being liable to prosecution or any claims for damages. Landlord may then re-let all or any portion of the Premises for any term or terms and at any rental or rentals and upon any other terms and conditions as Landlord, in its sole discretion, may deem advisable, with the right to make alterations and repairs to the Premises. In the event of any re-letting, rentals received by Landlord from re-letting shall be applied: First, to the payment of any indebtedness, other than Rent, due from Tenant to Landlord; Second, to the payment of the Rent due and unpaid; Third, to the payment of any cost of re-letting; Fourth, to the payment of the cost of any alterations and repairs to the Premises: and the residue, if any, shall be held by Landlord and applied in payment of future Rent as the same may become due and payable. Should rentals received from re-letting during any month be less than the Rent required to be paid by Tenant herein, then Tenant shall immediately pay any deficiency to Landlord. Deficiencies shall be calculated and paid monthly. No reentry on or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless either a written notice of this intention is given to Tenant or the termination of this Lease be decreed by a court of competent jurisdiction. Notwithstanding any re-letting without termination, Landlord may at any time elect to terminate this Lease for any previous breach or act of default. Should Landlord at any time terminate this Lease for any breach or act of default, in addition to any other remedy it may have, Landlord may recover from Tenant all damages it may incur by reason of any breach or act of default. Landlord's recovery shall include the cost of recovering the Premises, legal fees, and the worth, at the time of the termination, of the excess, if any, of the amount of Rent reserved in this Lease for the remainder of the stated term. (d) Upon failure by the Tenant to pay the Rent, Landlord shall have no application the right to make distress, and upon distress, this tenancy, at the Events option of the Landlord, shall terminate. 20.03 Should Tenant contest (including all appeals) any action of Landlord to recover the Premises following any breach or act of default, and Landlord is ultimately successful in receiving a determination that its action was legal and proper, then, in that event, Tenant, recognizing certain intangible detriments to Landlord caused by the delay in recovering the Premises, such as losing a valuable prospective tenant, agrees to pay to Landlord 150% of the stated monthly Rent during the period of holding over. 20.04 All remedies available to Landlord under this Lease and at law and in equity shall be cumulative and concurrent. No termination of this Lease, taking or recovering possession of the Premises, nor acceptance of Rent by Landlord with knowledge of the breach of any covenant or condition, shall act as a waiver of the breach or deprive Landlord of any remedies or actions against Tenant for Rent, for charges, or for damages for the breach of any covenant or condition. Nor shall the bringing of any action for Rent, charges or breach of covenant or condition, or the resort to any other remedy or fight for the recovery of Rent, charges or damages for breach, be construed as a waiver or release of the right to insist upon the forfeiture and to obtain possession of the Premises. 20.05 Tenant shall be considered in "Habitual Default" of this Lease upon (1) Tenant's failure, on three or more occasions during any leasehold year, to pay, when due, any installment of Rent or any other sum required by the terms of this Lease, or (2) Tenant's repeated violation of, or failure to comply with, any term, covenant or condition of this Lease after written notice of such violation or failure to comply has been given by Landlord to Tenant. Upon the occurrence of an event of Habitual Default referred on the part of Tenant, Tenant shall immediately be deemed to in clauses have released any and all options or rights granted, or to be granted to Tenant under the terms of this Lease (iii) through (v) aboveincluding, without limitation, rights of renewal, rights to terminate, or rights of first refusal). ARTICLE 21.

Appears in 1 contract

Samples: Lease Agreement (Ace Hardware Corp)

Tenant’s Default. 14.1 Any other provisions in Each of the following events is a default and breach of this Lease notwithstanding, it shall be an event following written notice and the expiration of default the cure periods (“Event of Default”) under this Lease ifby Tenant: (ia) Tenant fails to pay make any installment payment of rent Rent or any other sum payable payment required to be made by Tenant hereunder hereunder, as and when due due, and such failure continues for a period of ten (10) days after written notice from thereof by Landlord to Tenant that such payment has not been received, or Tenant; (iib) Tenant fails to observe or perform any other material covenant of the covenants, conditions or agreement provisions of Tenant herein contained the Lease to be observed, and such failure continues thirty (30) days after written notice given thereof by or on behalf of Landlord to Tenant for Tenant; provided, however, that if the nature of Tenant’s Default is such that more than thirty (30) daysdays are reasonably required for its cure, provided, however, that Tenant shall not be deemed to be in Default if such non-monetary Event of Default by Tenant cannot reasonably be cured it commences cure within such said thirty (30) day period, period and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall thereafter diligently and continuously prosecutes such cure period extend beyond ninety to completion; (90c) days following notice from Landlord (i)Tenant makes any general assignment or general arrangement for the benefit of such violationcreditors, default or breach(ii) A petition is filed by or against Tenant to have Tenant adjudged a bankrupt, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in reorganization of arrangement is filed under any law relating to bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and(unless, in the case of any such involuntary actiona petition filed against Tenant, such action shall it is dismissed within sixty (60) days), or (iv) a trustee or receiver is appointed to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, and possession is not be dismissed, discharged or denied restored to Tenant within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay there is an attachment, execution or other judicial seizure of substantially all of Tenant’s debts as assets located at the Premises or of Tenant’s interest in this Lease, and such debts become due, or shall make an assignment for the benefit of creditors, or shall admit seizure is not discharged in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses sixty (i60) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovedays.

Appears in 1 contract

Samples: Lease (Andover Medical, Inc.)

Tenant’s Default. 14.1 Any Each of the following shall constitute an Event of Default: Failure on the part of the Tenant to pay the Annual Fixed Rent, Additional Rent or other provisions charges for which provision is made herein on or before the date on which the same become due and payable, if such condition continues for five (5) days after written notice that the same are due. Failure on the part of the Tenant to perform or observe any other term or condition contained in this Lease notwithstanding, it if the Tenant shall be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and not cure such failure continues for a period of ten within thirty (1030) days after written notice from the Landlord to the Tenant thereof, provided that in the case of breaches that are not reasonably susceptible to cure within thirty (30) days through the exercise of due diligence, then so long as the Tenant commences such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than cure within thirty (30) days, providedand the Tenant diligently pursues such cure to completion, however, that if such non-monetary Event of Default by Tenant canbreach shall not reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence deemed to effect a cure of said create an Event of Default, no Event . The taking of Default hereunder shall be declared the estate hereby created on execution or by Landlord if Tenant continues to proceed with diligence to cure said Event other process of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default law; or breacha judicial declaration that the Tenant, or (iii) Tenant files a petition commencing a voluntary caseany guarantor of this Lease, is bankrupt or insolvent according to law; or any assignment of the property of the Tenant, or has filed against it a petition commencing an involuntary caseany guarantor of this Lease, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors; or the appointment of a receiver, guardian, conservator, trustee in bankruptcy or other similar officer to take charge of all or any substantial part of the property of Tenant, or any guarantor of this Lease, by a court of competent jurisdiction, which officer is not dismissed or removed within forty-five (45) days; or the filing of an involuntary petition against the Tenant, or any guarantor of this Lease, under any provisions of the bankruptcy act now or hereafter enacted if the same is not dismissed within forty-five (45) days; the filing by the Tenant, or any guarantor of this Lease, of any voluntary petition for relief under provisions of any bankruptcy law now or hereafter enacted. If an Event of Default shall admit occur, then, in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above any such case, whether or not the Term shall have no application begun, Landlord and its agents lawfully may, in addition to any remedies for any preceding Event of Default and any remedies otherwise available at law or equity, immediately or at any time thereafter without further demand or notice in accordance with process of law, enter upon any part of the Premises in the name of the whole or mail or deliver a notice of termination of the Term of this Lease addressed to Tenant at the Premises or any other address herein, and thereby terminate the Term and repossess the Premises as of Landlord’s former estate. At Landlord’s election such notice of termination may be included in any notice of default. Upon such entry or mailing the Term shall terminate, all executory rights of Tenant and all obligations of Landlord will immediately cease, and Landlord may expel Tenant and all persons claiming under Tenant and remove their effects without any trespass and without prejudice to any remedies for arrears of rent or prior breach; and Tenant waives all statutory and equitable rights to its leasehold (including rights in the nature of further cure or redemption, if any to the Events extent such rights may be waived). If Landlord engages attorneys in connection with any failure to perform by Tenant hereunder, Tenant shall reimburse Landlord for the reasonable fees of Default referred to in clauses (iii) through (v) abovesuch attorneys on demand as Additional Rent. Without implying that other provisions do not survive, the provisions of this Article shall survive the Term or earlier termination of this Lease.

Appears in 1 contract

Samples: Champions Biotechnology, Inc.

Tenant’s Default. 14.1 Any other provisions If Tenant defaults in this Lease notwithstandingthe payment of Rent, it shall be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable monetary obligation hereunder, for more than five (5) business days after written notice of such default by Landlord, or if Tenant hereunder when due and such failure continues defaults in the performance of any other covenant, agreement, condition, rule or regulation herein contained or provided for, or hereafter established for a period of ten more than twenty (1020) days after written notice from of such default by Landlord, then (in addition to and as an alternative to all other legal remedies) Landlord shall have the right either to Tenant that such payment has not been received(i) terminate this Lease and Tenant's right to possession of the Premises, or to (ii) terminate only Tenant's right to possession of the Premises; and in either such event, Landlord shall have the right to re-enter and/or repossess the Premises, and dispose and remove therefrom Tenant, or other occupants thereof, and their effects, and alter the locks and other security devises at the Premises, all without being liable for any prosecution or damages therefore. In either event Landlord shall be entitled to recover from Tenant, in addition to the Rent, all expenses incurred in connection with such default, including repossession costs, legal expenses and attorney's fees (whether or not suit is filed), and all expenses incurred in connection with efforts to relet the Premises, including cleaning, altering, advertising and brokerage commissions; and all such expenses shall be reimbursed by Tenant fails as additional Rent, whether or not such default is subsequently cured. If Landlord elects to observe terminate only Tenant's right to possession, then Landlord may, at Landlord's option, accelerate the entire amount then remaining unpaid under this Lease and recover same forthwith from Tenant, together with all other charges recoverable hereunder, and thereafter Landlord shall pay over to Tenant the net proceeds of any total or perform any other material covenant or agreement partial reletting. If Landlord terminates only Tenant's right to possession, then Landlord may relet the Premises for the account of Tenant herein contained and such failure continues after written (either in the name of the Landlord or Tenant). Except as otherwise provided herein, Tenant waives demand for Rent, demand for possession, notice given by or on behalf of Landlord to Tenant for more than thirty (30) daysforfeiture, provided, however, that if such non-monetary Event notice of Default by Tenant cannot reasonably be cured within such thirty (30) day periodtermination, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared any and all other demands or notices required by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.

Appears in 1 contract

Samples: Centene Corp

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it Section 18.01. If Tenant shall be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails fail to pay any installment of rent or any other sum payable by Tenant hereunder when promptly on the day the same is due and payable hereunder, and shall continue in such failure continues default for a period of ten (10) days after written notice from Landlord to Tenant that such payment thereof has not been receivedserved by the Landlord, or (ii) if Tenant fails shall fail to observe or promptly keep and perform any other material covenant or agreement covenants of Tenant herein contained this Lease, strictly in accordance with the terms of this Lease, and, other than as provided in Article I, Section 1.03 and such failure continues after written notice given by or on behalf Article XV, Section 15.02, shall continue in default for a period of Landlord to Tenant for more than thirty (30) daysdays after written notice thereof has been served by Landlord of default and demand of performance, provided, however, that of if such non-monetary Event the leasehold interest of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event taken on execution or other process of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files if the Tenant shall petition to be or has filed against it a petition be declared bankrupt or answer in bankruptcy or for reorganization or for an arrangement pursuant insolvent according to any state bankruptcy law or make any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged conveyance or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit if a receiver be appointed for such Tenant's property, and such appointment be not vacated and set aside within thirty (30) days from the date of such appointment, or if proceedings for reorganization or for composition with creditors be instituted by or against the Tenant, then and in writing its inability any of said events, the Landlord may immediately, or at any time thereafter, and without further notice or demand, either terminate this Lease or enter into and upon said premises, or any part thereof, and take absolute possession of the same, fully and absolutely, and without such re-entry working as a forfeiture of the rents to pay its debts generally be paid and the covenants to be performed by the Tenant for the full term of the Lease, and may, at the Landlord's election, lease or sublet such premises, or any part thereof, on such terms and conditions and for such [illegible], and for such time as they become due. The notice and grace period provisions in clauses (i) and (ii) above the Landlord may elect; and, collect from the tenant any balance remaining [illegible] under this Lease, Landlord shall have no application to the Events of Default referred to in clauses (iii) through (v) abovesuch additional rights and remedies as may be provided by then applicable law.

Appears in 1 contract

Samples: Lease Agreement (Carpenter W R North America Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it (a) The occurrence of any one or more of the following events shall be constitute an event of default (“Event of Default”) Default of Tenant under this Lease ifLease: (i) If Tenant fails falls to pay any installment of rent Minimum Rent or any other sum payable by Tenant Additional Rent hereunder as and when such rent becomes due and such failure continues for a period of ten (10) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant shall continue for more than thirty (30) days, provided, however, that if such non-monetary Event 5 days after receipt of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following written notice from Landlord of such violationfailure; (ii) if Tenant fails to pay Minimum Rent or any Additional Rent on time more than twice in any period of 12 months (provided Landlord has given Tenant written notice of the previous failures during such 12 month period within 20 days of the date such payment was due), default or breachnotwithstanding that such payments have been made within the applicable cure period, or (iii) Tenant files a petition commencing a voluntary caseIf the Demise Premises become vacant, deserted, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 abandoned for more than 10 consecutive days or if Tenant fails to take possession of the United States Demised Premises on the Commencement Date or promptly thereafter; (iv) if Tenant permits to be done anything which creates a lien upon the Demised Premises and falls to discharge, bond such lien or post security with Landlord acceptable to Landlord within 10 days after receipt by Tenant of written notice thereof; (v) if Tenant violates the provisions of Section 29 of this Lease by attempting to make an unpermitted assignment or sublease; (vi) if Tenant fails to maintain in force all policies of insurance required by this Lease and such failure shall continue for more than 10 days after Landlord gives Tenant notice of such failure; (vii) if any petition is filed by or against Tenant or any guarantor of this Lease under any present or future section or chapter of the Bankruptcy Code), as now or hereafter in effect, or under any similar law, law or files statute of the United States or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, andthereof (which, in the case of an involuntary proceeding, is not permanently discharged, dismissed, stayed, or vacated, as the case may be, within 60 days of commencement), or if any order for relief shall be entered against Tenant or any guarantor of this Lease in any such involuntary actionproceedings,, such action shall not be dismissed, discharged or denied within sixty (60vill) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of if Tenant or any guarantor of all this Lease becomes insolvent or substantially all makes a transfer in fraud of Tenant’s property creditors or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make makes an assignment for the benefit of creditors; (ix) if a receiver. custodian, or trustee is appointed for the Demised Premises or for all or substantially all of the assets of Tenant or of any guarantor of this Lease, which appointment is not vacated within 69 days following the date of such appointment (x) if Tenant fails to perform or observe any other term of this Lease and such failure shall admit continue for more than 10 days after Landlord ves Tenant notice of such failure, or, if such failure cannot be correrted within such 10 day period, if Tenant does not commence to correct such default within said 10 day period and thereafter diligently prosecute the correction of same to completion within a reasonable time and in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application any event prior to the Events time a failure to complete such correction could cause Landlord to be subject to prosecution for violation of Default referred any law, rule, ordinance or regulation or causes, or could cause a default under any mortgage, underlying lease, tenant leases or other agreements applicable to in clauses the Project; or (iiixi) through if Tenant fails to perform any term (vother than the payment of Minimum Rent or any Additional Rent) aboveof this Lease more then 2 times In any period of 12 months, notwithstanding that Tenant has corrected any previous failures within the applicable cure period.

Appears in 1 contract

Samples: Lease Agreement (Thrucomm Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it (a) The occurrence of any one or more of the following events shall be constitute an event of default (“"Event of Default”) " of Tenant under this Lease ifLease: (i) if Tenant fails to pay any installment of rent Base Rent or any other sum payable by Tenant Additional Rent hereunder as and when such rent becomes due and such failure continues shall continue for a period of more than ten (10) days after Landlord gives written notice from Landlord to Tenant that of such payment has not been received, or failure; (ii) Tenant fails to observe intentionally omitted; (iii) if the Demised Premises become deserted or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant abandoned for more than thirty (30) consecutive days; (iv) if Tenant permits to be done anything which creates a lien upon the Demised Premises and fails to discharge or bond such lien, providedor post security with Landlord acceptable to Landlord within thirty (30) days after receipt by Tenant of written notice thereof; (v) if Tenant fails to maintain in force all policies of insurance required by this Lease and such failure shall continue for more than ten (10) days after Landlord gives Tenant written notice of such failure; (vi) if any petition is filed by or against Tenant under any present or future section or chapter of the Bankruptcy Code, howeveror under any similar law or statute of the United States or any state thereof (which, that in the case of an involuntary proceeding, is not permanently discharged, dismissed, stayed, or vacated, as the case may be, within ninety (90) days of commencement), or if any order for relief shall be entered against Tenant in any such proceedings; (vii) intentionally omitted; (viii) if a receiver, custodian, or trustee is appointed for the Demised Premises or for all or substantially all of the assets of Tenant, which appointment is not vacated within sixty (60) days following the date of such appointment; or (ix) if Tenant fails to perform or observe any other term of this Lease and such failure shall continue for more than thirty (30) days after Landlord gives Tenant written notice of such failure, or, if such non-monetary Event of Default by Tenant failure cannot reasonably be cured corrected within such thirty (30) day period, if Tenant does not -12- <PAGE> commence to correct such default within said thirty (30) day period and provided further that Tenant is proceeding with due diligence thereafter diligently prosecute the correction of same to effect completion within a cure reasonable time. (b) Upon the occurrence of said Event any one or more Events of Default, Landlord may, at Landlord's option, without any demand or notice whatsoever (except as expressly required in this Section 22): (i) Terminate this Lease by giving Tenant notice of termination, in which event this Lease shall expire and terminate on the date specified in such notice of termination and all rights of Tenant under this Lease and in and to the Demised Premises shall terminate. Tenant shall remain liable for all obligations under this Lease arising up to the date of such termination, and Tenant shall surrender the Demised Premises to Landlord on the date specified in such notice; or (ii) Terminate this Lease as provided in Section 22(b)(i) hereof and recover from Tenant all damages Landlord may incur by reason of Tenant's default, including, without limitation, an amount which, at the date of such termination, is calculated as follows: (1) the value of the excess, if any, of (A) the Base Rent, Additional Rent and all other sums which would have been payable hereunder by Tenant for the period commencing with the day following the date of such termination and ending with the Expiration Date had this Lease not been terminated (the "Remaining Term"), over (B) the aggregate fair market rental value of the Demised Premises for the Remaining Term (which excess, if any shall be discounted to present value at the "Treasury Yield" as defined below for the Remaining Term); plus (2) the costs of recovering possession of the Demised Premises and all other expenses incurred by Landlord due to Tenant's default, including, without limitation, reasonable attorney's fees; plus (3) the unpaid Base Rent and Additional Rent earned as of the date of termination plus any interest and late fees due hereunder, plus other sums of money and damages owing on the date of termination by Tenant to Landlord under this Lease or in connection with the Demised Premises. The amount as calculated above shall be deemed immediately due and payable. The payment of the amount calculated in subparagraph (ii)(l) shall not be deemed a penalty but shall merely constitute payment of liquidated damages, it being understood and acknowledged by Landlord and Tenant that actual damages to Landlord are extremely difficult, if not impossible, to ascertain. "Treasury Yield" shall mean the rate of return in percent per annum of Treasury Constant Maturities for the length of time specified as published in document H.15(519) (presently published by the Board of Governors of the U.S. Federal Reserve System titled "Federal Reserve Statistical Release") for the calendar week immediately preceding the calendar week in which the termination occurs. If the rate of return of Treasury Constant Maturities for the calendar week in question is not published on or before the business day preceding the date of the Treasury Yield in question is to become effective, then the Treasury Yield shall be based upon the rate of return of Treasury Constant Maturities for the length of time specified for the most recent calendar week for which such publication has occurred. If no rate of return for Treasury Constant Maturities is published for the specific length of time specified, the Treasury Yield for such length of time shall be the weighted average of the rates of return of Treasury Constant Maturities most nearly corresponding to the length of the applicable period specified. If the publishing of the rate of return of Treasury Constant Maturities is ever discontinued, then the Treasury Yield shall be based upon the index which is published by the Board of Governors of the U.S. Federal Reserve System in replacement thereof or, if no such replacement index is published, the index which, in Landlord's reasonable determination, most nearly corresponds to the rate of return of Treasury Constant Maturities. In determining the aggregate fair market rental value pursuant to subparagraph (ii)(l)(B) above, the parties hereby agree that, at the time Landlord seeks to enforce this remedy, all relevant factors should be considered, including, but not limited to, (a) the length of time remaining in the Term, (b) the then current market conditions in the general area in which the Building is located, (c) the likelihood of reletting the Demised Premises for a period of time equal to the remainder of the Term, (d) the net effective rental rates then being obtained by landlords for similar type space of similar size in similar type buildings in the general area in which the Building is located, (e) the vacancy levels in the general area in which the Building is located, (f) current levels of new construction that will be completed -13- <PAGE> during the remainder of the Term and how this construction will likely affect vacancy rates and rental rates and (g) inflation; or (iii) Intentionally Omitted (iv) Without terminating this Lease, in its own name but as agent for Tenant, enter into and upon and take possession of the Demised Premises or any part thereof. Any property remaining in the Demised Premises may be removed and stored in a warehouse or elsewhere at the cost of, and for the account of, Tenant without Landlord being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby unless caused by Landlord's negligence. Thereafter, Landlord may, but shall not be obligated to, lease to a third party the Demised Premises or any portion thereof as the agent of Tenant upon such terms and conditions as Landlord may deem necessary or desirable in order to relet the Demised Premises. The remainder of any rentals received by Landlord from such reletting, after the payment of any indebtedness due hereunder from Tenant to Landlord, and the payment of any costs and expenses of such reletting, shall be held by Landlord to the extent of and for application in payment of future rent owed by Tenant, if any, as the same may become due and payable hereunder. If such rentals received from such reletting shall at any time or from time to time be less than sufficient to pay to Landlord the entire sums then due from Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for any such previous default provided same has not been cured; or (v) Without terminating this Lease, and with or without notice to Tenant, enter into and upon the Demised Premises and, without being liable for prosecution or any claim for damages therefor, maintain the Demised Premises and repair or replace any damage thereto or do anything or make any payment for which Tenant is responsible hereunder. Tenant shall reimburse Landlord immediately upon demand for any expenses which Landlord incurs in thus effecting Tenant's compliance under this Lease and Landlord shall not be liable to Tenant for any damages with respect thereto; or (vi) Without liability to Tenant or any other party and without constituting a constructive or actual eviction, suspend or discontinue furnishing or rendering to Tenant any property, material, labor, utilities or other service, wherever Landlord is obligated to furnish or render the same so long as an Event of Default exists under this Lease; or (vii) With or without terminating this Lease, allow the Demised Premises to remain unoccupied and collect rent from Tenant as it comes due; or (viii) Pursue such other remedies as are available at law or equity. (c) If this Lease shall terminate as a result of or while there exists an Event of Default hereunder, any funds of Tenant held by Landlord may be applied by Landlord to any damages payable by Tenant (whether provided for herein or by law) as a result of such termination or default. (d) Neither the commencement of any action or proceeding, nor the settlement thereof, nor entry of judgment thereon shall bar Landlord from bringing subsequent actions or proceedings from time to time, nor shall the failure to include in any action or proceeding any sum or sums then due be a bar to the maintenance of any subsequent actions or proceedings for the recovery of such sum or sums so omitted. (e) No agreement to accept a surrender of the Demised Premises and no act or omission by Landlord or Landlord's agents during the Term shall constitute an acceptance or surrender of the Demised Premises unless made in writing and signed by Landlord. No re-entry or taking possession of the Demised Premises by Landlord shall constitute an election by Landlord to terminate this Lease unless a written notice -14- <PAGE> of such intention is given to Tenant. No provision of this Lease shall be deemed to have been waived by either party unless such waiver is in writing and signed by the party making such waiver. Landlord's acceptance of Base Rent or Additional Rent in full or in part following an Event of Default hereunder shall not be declared by Landlord if Tenant continues to proceed with diligence to cure said construed as a waiver of such Event of Default, but . No custom or practice which may grow up between the parties in no event connection with the terms of this Lease shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default be construed to waive or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 lessen either party's right to insist upon strict performance of the United States Code)terms of this Lease, without a written notice thereof to the other party. (f) If an Event of Default shall occur, Tenant shall pay to Landlord, on demand, all expenses incurred by Landlord as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing result thereof, or Tenant consents or acquiesces in the filing thereofincluding reasonable attorneys' fees, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become duecourt costs and expenses actually incurred. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above23.

Appears in 1 contract

Samples: Industrial Lease Agreement

Tenant’s Default. 14.1 Any other provisions in At the option of Landlord, a material breach of this Lease notwithstandingby Tenant shall exist if any of the following events (severally, it shall be an event of default (“"Event of Default"; collectively, "Events of Default") under this Lease ifshall occur: (i) if Tenant fails shall have failed to pay any installment Rent, including Tenant's Percentage Share of rent increased Operating Expenses, Tenant's Percentage Share of increased Real Property Taxes, or any other sum payable by required to be paid hereunder within three (3) days after the date when due, together with interest at the Interest Rate, from the date the amount became due through the date of payment, inclusive; (ii) if Tenant hereunder when due shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and such failure continues for a period of ten Tenant shall have failed to cure the breach within fifteen (1015) days after written notice from Landlord if the breach could reasonably be cured within the fifteen (15) day period; provided, however, if the failure could not reasonably be cured within the fifteen (15) day period, then Tenant shall not be in default unless it has failed to promptly commence and thereafter continue to make diligent and reasonable efforts to cure the failure as soon as practicable as reasonably determined by Landlord; (iii) if Tenant that such payment has not been receivedshall have assigned its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or (ii) Tenant fails to observe or perform execution on, any other material covenant or agreement part of the property of Tenant herein contained or any property essential to the conduct of Tenant's business shall have occurred, and such failure continues after written notice given by Tenant shall have failed to obtain a return or on behalf release of Landlord the property within thirty (30) days thereafter, or prior to sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) if Tenant shall have failed to continuously and uninterruptedly conduct its business in the Premises, or shall have abandoned or vacated the Premises; (vi) if a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as property filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for more than a period of thirty (30) days, provided, however, that ; (vii) if such non-monetary Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the federal Bankruptcy Laws or any applicable state law; or (viii) if Tenant shall have failed to comply with the provisions of Section 24 or 26. An Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect shall constitute a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovethis Lease.

Appears in 1 contract

Samples: Lease (Seagate Software Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it 22.1. All rights and remedies of Landlord herein enumerated shall be cumulative, and none shall exclude any other rights or remedies allowed by law or in equity. The occurrence of any of the following shall constitute an event of default (“Event of Default”) under this Lease if: by Tenant (i) Tenant fails shall fail to pay make payment of any monthly installment of rent Rent or any other sum payable by Tenant charges hereunder when due and due, where such failure continues shall continue for a period of ten three (103) days; (ii) Tenant shall violate or fail to perform any of the other terms, covenants or conditions herein made by Tenant, and such violation or failure shall continue for a period of thirty (30) days after written notice from Landlord thereof to Tenant that by Landlord or, if such payment has not been received, violation or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more shall reasonably require longer than thirty (30) daysdays to cure, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured shall fail to commence to cure same within such thirty (30) day period, days after receipt of notice thereof and provided further that Tenant is proceeding continuously prosecute the curing of the same to completion with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Defaultdiligence, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within longer than sixty (60) days after receipt of notice thereof; (iii) Tenant shall make a general assignment for the filing thereofbenefit of its creditors or shall file, a petition for bankruptcy or Tenant consents other reorganization, liquidation, dissolution or acquiesces in the filing thereof, or similar relief; (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or proceeding is filed against Tenant and, seeking any relief mentioned in the latter case, such entity shall (iii) above and said proceeding is not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or of the filing hereof; (v) a trustee, receiver or liquidator shall be appointed for Tenant on a substantial part of its property; (vi) Tenant shall generally not pay Tenant’s debts vacate or abandon the Premises; or (vii) Tenant shall mortgage, assign or otherwise encumber its leasehold interest other than as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovespecifically permitted under this Lease.

Appears in 1 contract

Samples: Office Lease (Towerstream Corp)

Tenant’s Default. 14.1 Any other provisions in A material breach of this Lease notwithstandingby Tenant shall, it shall be an event exist if any of default the following events (severally, “Event of Default”; collectively, “Events of Default”) under this Lease ifshall occur: (i) if Tenant fails shall have failed to pay any installment Base Rent, Tenant’s Percentage Share of rent increased Operating Expenses, or any other sum payable by Tenant required to be paid hereunder when due, including any interest due under Section 3; (ii) if Tenant shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and such failure continues for a period of ten Tenant shall have failed to cure the breach within thirty (1030) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than if the breach could reasonably be cured within the thirty (30) days, day period; provided, however, that if such non-monetary Event of Default by Tenant canthe failure could not reasonably be cured within such the thirty (30) day period, then Tenant shall not be in default unless it has failed to promptly commence and provided further that Tenant is proceeding with due diligence thereafter continue to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence make diligent and reasonable efforts to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or the failure as soon as practicable as reasonably determined by Landlord; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) if Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment have assign its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or shall admit in writing its inability execution on, any material part of the property of Tenant or on any property essential to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above the conduct of Tenant’s business shall have no application occurred, and Tenant shall have failed to obtain a return or release of the Events of Default referred property within thirty (30) days thereafter, or prior to in clauses (iii) through sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) aboveif Tenant shall have abandoned or vacated the Premises; (vi) if a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for a period of thirty (30) days; (vii) if Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the federal Bankruptcy Laws or any applicable state law; or (viii) if Tenant shall have failed to comply with the provisions of Sections 23 or 25 of this Lease within the time periods stated therein. An Event of Default shall constitute a default under this Lease.

Appears in 1 contract

Samples: Lease (Renovis Inc)

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Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease if: (i) If Tenant fails to pay shall default in the payment of the Fixed Annual Rent, any installment of additional rent or any other sum sums payable by Tenant hereunder herein when due due, and such failure continues default shall continue for a period of ten (10) days after Tenant’s receipt of written notice from Landlord (but the foregoing shall not be deemed to Tenant that such payment has not been receivedamend or modify Section 5C or Section 48 regarding Landlord’s right to assess late charges and/or interest as provided therein), or (ii) if Tenant fails shall fail to observe deliver the Letter of Credit to Landlord if required pursuant to Section 22 of this Lease and said failure shall continue for more than five (5) Business Days after Tenant’s receipt of written notice thereof, or perform (iii) if Tenant shall fail to maintain the insurance coverages required to be maintained by Tenant pursuant to Section 26 of this Lease and said failure shall continue for more than five (5) Business Days after Tenant’s receipt of written notice thereof, or (iv) if Tenant shall default in the performance of any other material nonmonetary covenant or agreement of Tenant herein contained this Lease (except as described in subsections (ii) and such failure continues after written notice given by or on behalf of Landlord to Tenant (iii) hereinabove) and said default shall continue for more than thirty (30) daysdays after Tenant’s receipt of written notice thereof, provided, however, or in the event that if the default is of such non-monetary Event of Default by Tenant a nature as cannot reasonably with diligent effort be cured within such said thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence shall not commence to cure within said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breachand diligently prosecute remedial efforts to completion within a reasonable time thereafter, or (iiiv) if Tenant files a petition commencing a voluntary case, should become bankrupt or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law insolvent or any similar state lawdebtor proceedings be taken by or against Tenant (provided, andif same shall be involuntary on the part of Tenant, the event in the case of any such involuntary action, such action question shall not be dismissed, discharged deemed a default within the meaning of this Lease if dismissed or denied vacated by Tenant within sixty (60) days after of the filing thereof, or Tenant consents or acquiesces in the filing thereof), or (ivvi) a custodian, receiver, trustee if Tenant shall assign this Lease in whole or liquidator of Tenant in part or of sublet all or substantially any portion of the Premises in violation of Section 23 hereof and the transaction that violates Section 23 is not rescinded and made void ab initio within five (5) Business Days after Tenant’s receipt of written notice thereof, then and in addition to any and all other legal remedies and rights available to Landlord at law or in equity, Landlord may immediately or at any time thereafter enter into and upon the Premises or any part thereof and repossess the same as of its former estate, and expel Tenant, and those claiming through or under it, and remove its or their effects without being deemed guilty of any manner of trespass, and without prejudice to any remedies which might otherwise be used for arrears of Rent or preceding breach of covenant. Tenant covenants and agrees, notwithstanding any entry or reentry by Landlord, whether by summary proceedings, termination of this Lease (unless Landlord has expressly elected in writing to terminate this Lease for Landlord’s account), termination of Tenant’s property right to possession (without terminating this Lease), or otherwise, to pay and be liable for on the days originally fixed herein for the payment thereof, amounts equal to the several installments of Rent and other charges reserved as they would, under the terms of this Lease, become due if this Lease and/or Tenant’s right to possession had not been terminated, or if Landlord had not entered or reentered as aforesaid, and whether the Premises be relet or remain vacant, in whole or in part, or for the remainder of the Term or a period less than the remainder of the Term; but in the event the Premises is relet by Landlord, Tenant shall be entitled to a credit against its Rent obligations hereunder in the amount of the rents and other sums received by Landlord from any such reletting of the Premises less any reasonable costs incurred by Landlord (not previously reimbursed by Tenant) in connection with the repossessing of the Premises, including, without limitation, reasonable attorneys’ fees, brokerage commissions (prorated for the portion of the Term remaining) and any costs of repairs or alterations. The Landlord shall not, in any event, be required to pay Tenant any surplus of any sums received by Landlord on a reletting of said Premises in excess of the Rent provided in this Lease. In no event shall Tenant’s obligations hereunder exceed the amount of any such obligation that would have existed if the Premises had remained vacant and had not been relet, but the foregoing does not waive Landlord’s right to damages arising out of Tenant’s default, such as costs of repossession as described above. In the event of termination of Tenant’s right of possession to the Premises by Landlord as aforesaid, Landlord shall use reasonable efforts to relet the Premises at a fair market rental or as near thereto as is then possible under all circumstances then existing so as to mitigate the damages suffered by Landlord and payable by Tenant, provided that nothing herein shall be appointed deemed to limit or impair Landlord’s rights to (a) grant to any such tenant concessions of rent as Landlord may deem advisable in its sole and absolute discretion, (b) agree to paint or make any proceedings brought by or against Tenant andspecial repairs, alterations and decorations for any such tenant as it may deem advisable in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointmentits sole and absolute discretion, or (vc) Tenant shall generally not pay Tenant’s debts relet all or any portion of the Premises for a term which may be greater or lesser than the unexpired Term, as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit Landlord may deem advisable in writing its inability to pay its debts generally as they become due. The notice sole and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveabsolute discretion.

Appears in 1 contract

Samples: Lease (Burger King Holdings Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a default by Tenant under this Lease notwithstanding, it shall Lease: (a) Tenant’s failure to pay when due any monetary obligation required to be an event of default (“Event of Default”) paid under this Lease if: (iincluding, without limitation, Base Rent or Additional Rent) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such if the failure continues for a period five (5) days after written notice of the failure from Landlord to Tenant; (b) Tenant’s failure to provide any instrument or assurance as required by this Lease (including, without limitation, estoppel certificates, financial statements, and subordination agreements) if the failure continues for ten (10) days after written notice of the failure from Landlord to Tenant; (c) Tenant’s failure to perform any other obligation under this Lease if the failure continues for fifteen (15) days after written notice of the failure from Landlord to Tenant that (provided, however, in the event such payment has failure cannot been receivedbe cured within such 15-day period, despite Tenant’s best efforts, then such 15-day period shall be extended to the extent necessary to allow such cure to be completed, but in no event longer than 60 days); (d) to the extent permitted by law: (1) a general assignment by Tenant or any guarantor of the Lease for the benefit of creditors; (2) the filing by or against Tenant, or any guarantor, of any proceeding under an insolvency or bankruptcy law, unless (iiin the case of an involuntary proceeding) Tenant fails the proceeding is dismissed within sixty (60) days; (3) the appointment of a trustee or receiver to observe take possession of all or perform any other material covenant or agreement substantially all the assets of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord any guarantor, unless possession is unconditionally restored to Tenant for more than or that guarantor within thirty (30) days and the trusteeship or receivership is dissolved; (4) any execution or other judicially authorized seizure of all or substantially all the assets of Tenant located on the Premises, or of Tenant’s interest in this Lease, unless that seizure is discharged within thirty (30) days, provided, however, that if such non-monetary Event ; (e) the committing of Default by Tenant cannot reasonably be cured waste on the Premises; or (f) Tenant’s failure to occupy the Premises within such thirty (30) day period, and provided further business days after the Premises are ready for occupancy. It is agreed that Tenant is proceeding with due diligence shall have the right to effect vacate the Premises without creating a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if default under this Lease provided Tenant continues to proceed pay the Rent due hereunder and otherwise complies with diligence to cure said Event the terms and conditions of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovethis Lease.

Appears in 1 contract

Samples: Tenant Improvement Agreement (Zogenix Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a default by Tenant under this Lease notwithstanding, it shall Lease: (a) Tenant’s failure to pay when due any Rent required to be an event of default (“Event of Default”) paid under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such if the failure continues for a period of ten three (103) days after written notice of the failure from Landlord to Tenant that such payment has not been received, Tenant; (b) Tenant’s failure to provide any instrument or assurance as required by section 20.2 or estoppel certificate as required by section 19.1 if the failure continues for five (ii5) Tenant fails days after written notice of the failure from Landlord to observe or Tenant; (c) Tenant’s failure to perform any other material covenant or agreement of Tenant herein contained and such obligation under this Lease if the failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) daysdays after written notice of the failure from Landlord to Tenant; (d) Tenant’s abandonment of the Premises, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such including Tenant’s absence from the Premises for thirty (30) day periodconsecutive days (excluding Saturdays, Sundays, and provided further that California legal holidays) while in default of any provision of this Lease; (e) To the extent permitted by law: (1) A general assignment by Tenant is proceeding with due diligence to effect a cure or any guarantor of said Event the Lease for the benefit of Default, no Event of Default hereunder shall be declared creditors; (2) The filing by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breachagainst Tenant, or (iii) Tenant files a petition commencing a voluntary caseany guarantor, of any proceeding under an insolvency or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar bankruptcy law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, unless (in the case of an involuntary proceeding) the proceeding is dismissed within sixty (60) days; (3) The appointment of a trustee or receiver to take possession of all or substantially all the assets of Tenant or any such involuntary actionguarantor, such action shall not be dismissed, discharged or denied unless possession is unconditionally restored to Tenant orthat guarantor within sixty (60) days after and the filing thereof, trusteeship or Tenant consents receivership is dissolved; (4) Any execution or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or other judicially authorized seizure of all or substantially all the assets of Tenant located on the Premises, or of Tenant’s property or of the Premises shall be appointed interest in any proceedings brought by or against Tenant andthis Lease, in the latter case, such entity shall not be unless that seizure is discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or days; (vf) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for The committing of waste on the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovePremises.

Appears in 1 contract

Samples: Office Lease (Inpixon)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant’s failure to pay any installment of rent including additional rent or any other sum payable payment due under this Lease within ten (10) days following Landlord’s notice of nonpayment, (ii) the abandonment of the Premises by Tenant hereunder when due Tenant; (iii) Tenant’s failure to observe and perform any other required provision of this Lease, where such failure continues for a period of ten thirty (1030) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) daysLandlord, provided, however, that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, Tenant shall not be deemed in default if it commences within such period to cure, and provided further that thereafter diligently prosecutes the same to completion; (iv) Tenant’s making of any general assignment for the benefit of creditors; (v) the filing by or against Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing to have Tenant adjudged a voluntary case, bankrupt or has filed against it of a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant under any law relating to any state bankruptcy law or any similar state law, and(unless, in the case of any such involuntary actiona petition filed against Tenant, such action shall the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not be dismissed, discharged or denied restored to Tenant within sixty (60) days after days; (vii) the filing thereofattachment, execution or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator other judicial seizure of Tenant or of all or substantially all of Tenant’s property assets located at the Premises or of the Premises shall be appointed Tenant’s interest in any proceedings brought by or against Tenant andthis Lease, in the latter case, where such entity shall seizure is not be discharged within sixty (60) days after such appointment or days; (viii) a default by Tenant consents to or acquiesces in such appointmentunder the Building 1 Lease (if then leased by Tenant from Landlord), or (vix) a default by Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for under the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses Building 3 Lease (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveif leased by Tenant from Landlord).

Appears in 1 contract

Samples: Commencement Agreement (Guidewire Software, Inc.)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstandingAt the option of Landlord, it shall be an event of a default (“Event of Default”) under this Lease ifby Tenant shall exist if any of the following events shall occur: (i) if Tenant fails shall have failed to pay any installment of rent Monthly Rent or any other sum payable by Tenant required to be paid hereunder within ten (10) days when due and within three (3) days of written notice from landlord; (ii) if Tenant shall have failed to perform any term, covenant or condition of this Lease other than those requiring the payment of money, and Tenant shall have failed to cure such failure continues for a period of ten within fifteen (1015) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty could reasonably be cured within such fifteen (3015) days, day period; provided, however, that if where such non-monetary Event of Default by Tenant canfailure could not reasonably be cured within such thirty the fifteen (3015) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied in default if it has commenced such cure within the fifteen (15) day period and diligently thereafter prosecutes the same to completion which in all events must occur within sixty (60) days after thereafter; (iii) if Tenant shall have assigned its assets for the filing thereof, or Tenant consents or acquiesces in the filing thereof, or benefit of its creditors; (iv) if the sequestrian or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business shall have occurred, and Tenant shall have failed to obtain a custodianreturn or release of Tenant's Personal Property within thirty (30) days thereafter, receiveror prior to sale pursuant to such sequestration, trustee attachment or liquidator levy, whichever is earlier; (v) if Tenant shall have failed to continuously or uninterruptedly conduct its business in the Premises, or shall have abandoned or vacated the Premises; (vi) if a court shall have made or entered any decree or order other than under the bankruptcy laws of the United States or any state adjudging Tenant to be insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of all thirty (30) days; (vii) the filing of a voluntary petition in bankruptcy by Tenant, a voluntary petition for arrangement, a voluntary or substantially all involuntary petition for reorganization, or the filing of an involuntary petition by Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and's creditors, immediately (unless involuntary, in which case when the latter case, such entity shall not be discharged within petition remains undischarged for a period of sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or days); (vviii) if Tenant shall generally not pay Tenant’s debts as such debts become due, have failed to timely comply with the provisions of Paragraphs 27 or shall make an assignment for the benefit 30 of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovethis Lease.

Appears in 1 contract

Samples: Lease (Kofax Image Products Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it 21.1 All rights and remedies of Landlord herein enumerated shall be cumulative, and none shall exclude any other rights or remedies allowed by law or in equity. The occurrence of any of the following shall constitute an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails shall fail to pay make payment of any monthly installment of rent Rent, Additional Rent, or any other sum payable charges hereunder in the amount as herein provided within five (5) days from the date any such payment is due; (ii) Tenant shall violate or fail to perform any of the other terms, covenants or conditions herein made by Tenant hereunder when due Tenant, and such violation or failure continues shall continue for a period of ten thirty (1030) days after written notice from Landlord thereof to Tenant that by Landlord or, if such payment has not been received, violation or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more shall reasonably require longer than thirty (30) daysdays to cure, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured shall fail to commence to cure same within such thirty (30) day period, days after receipt of notice thereof and provided further that Tenant is proceeding continuously prosecute the curing of the same to completion with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or diligence; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an a general assignment for the benefit of creditors, its creditors or shall admit file or have filed involuntarily against Tenant, a petition for bankruptcy or other reorganization, liquidation, dissolution or similar relief; (iv) a proceeding is filed against Tenant seeking any relief mentioned in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through above and said proceeding is not discharged within forty-five (45) days of the filing thereof; (v) abovea trustee, receiver or liquidator shall be appointed for Tenant on a substantial part of its property; or (vi) Tenant shall mortgage, assign or otherwise encumber its leasehold interest other than as specifically permitted under this Lease.

Appears in 1 contract

Samples: Commercial Lease (Sensus Healthcare, Inc.)

Tenant’s Default. 14.1 Any other provisions in At the option of Landlord, a material breach of this Lease notwithstandingby Tenant shall exist if any of the following events (severally, it shall be an event of default (“"Event of Default"; collectively, "Events of Default") under this Lease ifshall occur: (i) if Tenant fails shall have failed to pay any installment Rent, including Tenant's Percentage Share of rent Operating Expenses, or any other sum payable by required to be paid hereunder, together with interest at the Interest Rate, from the date the amount became due through the date of payment, inclusive; (ii) if Tenant hereunder when due shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and such failure continues for a period of ten Tenant shall have failed to cure the breach within thirty (1030) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than if the breach could reasonably be cured within the thirty (30) days, day period; provided, however, that if such non-monetary Event of Default by Tenant canthe failure could not reasonably be cured within such the thirty (30) day period, then Tenant shall not be in default unless it has failed to promptly commence and provided further that Tenant is proceeding with due diligence thereafter continue to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence make diligent and reasonable efforts to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or the failure as soon as practicable as reasonably determined by Landlord; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) if Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment have assigned its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or shall admit in writing its inability execution on, any material part of the property of Tenant or on any property essential to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above the conduct of Tenant's business shall have no application occurred, and Tenant shall have failed to obtain a return or release of the Events of Default referred property within thirty (30) days thereafter, or prior to in clauses (iii) through sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) aboveif a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for a period of thirty (30) days; (vi) if Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the federal Bankruptcy Laws or any applicable state law; or (vii) if Tenant shall have failed to comply with the provisions of Section 23 or 25. An Event of Default shall constitute a default under this Lease. Notwithstanding the foregoing, an Event of Default shall not be deemed to have occurred with respect to the first two failures to pay Rent when due during any twelve month period until three (3) days after delivery of notice of nonpayment from Landlord to Tenant. Any subsequent failure to pay Rent during such twelve month period shall not require any such notice in order to establish an Event of Default. Any notice delivered pursuant to this Section 15(a) shall be in lieu of and not in addition to any notice required under California Code of Civil Procedure Section 1161 et seq.

Appears in 1 contract

Samples: Marvell Technology Group LTD

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it 18.1. If any sum or sums due as rent or additional rent as herein provided and set forth or any part thereof shall be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues unpaid for a period of ten fourteen (1014) days after written notice from of such default has been given by Landlord to Tenant that such payment has not been receivedTenant, or if Tenant shall violate or be in default in its observances or performance of any of its covenants herein contained, except default in the payment of base rent or additional rent, and shall have failed to take and prosecute appropriate steps to remedy such breach or default within twenty (ii20) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues days after written notice of such breach or default has been given by or on behalf of Landlord to Tenant for more than thirty (30) daysTenant, provided, however, that or if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder the estate hereby created shall be declared by taken on execution or other process of law and shall not be redeemed for_ twenty (20) days after Landlord shall have given Tenant written notice of such taking, or if Tenant continues be declared bankrupt or insolvent according to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to if any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises assignment shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment made of its property for the benefit of creditors, then, and in each of the said cases (after the expiration of the aforesaid fourteen (14) day or twenty (20) day period if applicable), Landlord lawfully may (notwithstanding any waiver of any former breach of covenant or waiver of the benefit hereof or consent in a former instance) immediately or at any time thereafter while such default or other stipulation aforesaid continues and without further demand or notice enter into and upon the Premises or any part thereof in the name of the whole and repossess the same as of its former estate and expel Tenant and those claiming through or under it and remove its effects (forcibly if necessary) without being deemed guilty of any manner to trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or preceding breach of covenant, and upon entry as aforesaid this Lease shall admit terminate and Tenant covenants that in writing its inability to case of such termination under the provisions of statute by reason of the default of Tenant, Tenant will forthwith pay its debts generally Landlord as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application damages a sum equal to the Events amount by which the base- rent, additional rent, and other payments called for hereunder of Default referred the remainder of the original term or of any extensions thereof, and, in addition thereto, will during the remainder of the original term and of any extensions thereof pay to in clauses (iii) through (v) aboveLandlord on the last day of each calendar month the difference, if any, between rental which would have been due for such month had there been no such termination and the sum of the amount being received by Landlord as rent from occupants of the Premises, if any, and the applicable pro rated amount of the damages previously paid to Landlord, Landlord hereby agreeing to use reasonable efforts to minimize damages.

Appears in 1 contract

Samples: Commercial Lease (Ipswich Bancshares Inc)

Tenant’s Default. 14.1 Any other It is covenanted and agreed that if Tenant shall neglect or fail to perform or observe any of the covenants, terms, provisions or conditions contained in this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of within ten (10) days after written notice from Landlord to Tenant that such payment has not been receivedof default, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, andor, in the case of non-monetary defaults, such additional time as is reasonably required to correct any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereofdefault, or Tenant consents if the estate hereby created shall be taken on execution or acquiesces in the filing thereofby other process of law, or (iv) a custodianif Tenant shall be judicially declared bankrupt or insolvent according to law, receiver, trustee or liquidator if any assignment shall be made of the property of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or if a receiver, guardian, conservator, trustee in voluntary bankruptcy or other similar officer shall admit be appointed to take charge of all or any substantial part of Tenant's property by a court of competent jurisdiction, or if a petition shall be filed for the reorganization of Tenant under any provisions of the Bankruptcy Code now or hereafter enacted, and such proceeding is not dismissed within one hundred fifty (150) days after it is begun, or if Tenant shall file a petition for such reorganization, or for arrangements under any provisions of the Bankruptcy Code now or hereafter enacted and providing a plan for a debtor to settle, satisfy or extend the time for the payment of debts - then, and in writing any of said cases (notwithstanding any license of any former breach of covenant or waiver of the benefit thereof or consent in a former instance), Landlord lawfully may, immediately or at any time thereafter, upon prior written notice, enter into and upon the demised Premises, or any part thereof in the name of the whole, and repossess the same as of its inability former estate, and expel Tenant, and those claiming through or under it, and remove its or their effects (forcibly, if necessary) without being deemed guilty of any manner of trespass, and without prejudice to any remedies which might otherwise be used for arrears of rent or preceding breach of covenant, and upon entry as aforesaid, this Lease shall terminate. Xxxxxx agrees that Landlord may but is not required to use court procedures, including but not limited to summary process procedures, to regain control and possession of the demised Premises. Tenant covenants and agrees, notwithstanding any entry or re-entry by Landlord, whether by summary proceedings, termination, or otherwise, to pay its debts generally and be liable for on the days originally fixed herein for the payment thereof, amounts equal to the several installments of rent and other charges reserved as they would, under the terms of this Lease, become duedue if this Lease had not been terminated, or if Landlord had not entered or re-entered, as aforesaid, and whether the demised Premises be relet or remain vacant, in whole or in part, or for the remainder of the term or a period less than the remainder of the term, and for the whole thereof; but in the event the demised Premises be relet by Landlord, Tenant shall be entitled to a credit in the net amount of rent received by Landlord in reletting the demised Premises, after deduction of all reasonable expenses (including, with limitation, reasonable brokerage fees, attorney’s fees, and the like). The notice Xxxxxxxx agrees to use reasonable efforts to relet the demised Premises so as to minimize the damages suffered by Landlord and grace period provisions in clauses (i) and (ii) above shall have no application payable by Xxxxxx. Further, except with respect to the Events payment of Default referred to rent and other charges payable hereunder, Tenant shall be excused from the performance of its obligations hereunder for such period of time that it is prevented from performing the same by reason of acts of God, strikes, or other causes beyond its reasonable control, and in clauses (iii) through (v) aboveno event shall Tenant ever be liable for any indirect or consequential damages.

Appears in 1 contract

Samples: Lease

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it 21.1 All rights and remedies of Landlord herein enumerated shall be cumulative, and none shall exclude any other rights or remedies allowed by law or in equity. The occurrence of any of the following shall constitute an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails shall fail to pay make payment of any monthly installment of rent Rent, Additional Rent, or any other sum payable by Tenant charges hereunder when due and such failure continues for a period of in the amount as herein provided within ten (10) days after the date Tenant receives written notice from Landlord to Tenant that of such payment has not been received, or late payment; (ii) Tenant fails shall violate or fail to observe or perform any of the other material covenant terms, covenants or agreement of Tenant conditions herein contained made by Tenant, and such violation or failure continues shall continue for a period of thirty (30) days after written notice given by or on behalf of Landlord thereof to Tenant for more by Landlord or, if such violation or failure shall reasonably require longer than thirty (30) daysdays to cure, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured shall fail to commence to cure same within such thirty (30) day period, days after receipt of notice thereof and provided further that Tenant is proceeding thereafter continuously prosecute the curing of the same to completion with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or diligence; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an a general assignment for the benefit of creditors, its creditors or shall admit file a petition for bankruptcy or other reorganization, liquidation, dissolution or similar relief; (iv) a proceeding is filed against Tenant seeking any relief mentioned in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through above and said proceeding is not discharged within one hundred twenty (120) days of the filing thereof; (v) abovea trustee, receiver or liquidator shall be appointed for Tenant on a substantial part of its property located at the Premises and said trustee, receiver or liquidator is not dismissed within one hundred twenty (120) days of the appointment thereof; or (vi) Tenant enter into an assignment or sublease other than as specifically permitted under this Lease.

Appears in 1 contract

Samples: Commercial Lease (Birks & Mayors Inc.)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) under this Lease if: (i) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when provided however, that Tenant may cure such default by payment to Landlord of the Base Monthly Rent or other sum due and such failure continues for a period of within ten (10) days after receipt by Tenant of written notice from specifying Landlord has failed to receive the amount in question; b) The abandonment of the Premises by Tenant; c) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred to in clauses (iii) through (v) aboveCivil Procedure Section 1161.

Appears in 1 contract

Samples: Affymetrix Inc

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifIf: (i) Tenant fails shall fail to pay any installment of rent or any other sum payable by Tenant hereunder when monies due under this Lease after the same are due, and such failure continues shall continue for a period of ten (10) days after receipt of written notice from Landlord thereof to Tenant that such payment has not been receivedTenant, or (ii) Tenant fails shall fail to observe or perform any other material covenant term, covenant, or agreement of Tenant condition herein contained contained, and such failure continues after written notice given by or on behalf of Landlord to Tenant shall continue for more than thirty (30) daysdays after receipt of written notice thereof, providedunless Tenant shall have taken steps in good faith within such period to remedy such failure and is continuing to so act with diligence and continuity, howeveror (iii) the Tenant’s interest herein or any part thereof be assigned or transferred, that either voluntarily or by operation of law, without permission of the Landlord when such permission is required by the terms of this Lease, whether by judgment, execution, death or any other means, or (iv) the Tenant shall file any petition or institute any proceedings under any bankruptcy act, state or federal, or if such non-monetary Event petition or proceeding be filed or be instituted or taken against the Tenant and such petition remains undischarged for a period of Default by ninety (90) days; or if any receiver of the business or of the property or assets of Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared appointed by Landlord if any court (except a receiver appointed at the instance or request of the Landlord) and Tenant continues fails to proceed with diligence to cure said Event obtain dissolution of Default, but in no event shall such cure period extend beyond the receiver within ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 after appointment of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, ; or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, make a general or shall make an any assignment for the benefit of its creditors, ; or (vi) Tenant shall admit abandon or vacate (other than a temporary cessation of operations in writing its inability connection with renovations of the Premises to pay its debts generally which Tenant has obtained Landlord’s approval as they become due. The notice and grace period provisions required by the terms hereof) the Premises; then in clauses (i) and (ii) above any of such events Landlord shall have no application to the Events of Default referred to in clauses (iii) through (v) above.following options:

Appears in 1 contract

Samples: Lease

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant’s failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable by Tenant hereunder when payment due and under this Lease where such failure continues for a period five (5) business days after Tenants receipt of ten Landlord’s notice that Rent was not received, (10ii) the abandonment of the Premises by Tenant; (iii) Tenant’s failure to observe and perform any other required provision of this Lease, where such failure continues for thirty (30) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, Landlord; provided however, that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismisseddeemed in default if it commences within such period to cure, discharged or denied within sixty (60) days after and thereafter diligently prosecutes the filing thereof, or Tenant consents or acquiesces in the filing thereof, or same to completion; (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or making of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; (vii) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days; or (viii) the occurrence of any other event described as a default elsewhere in this Lease or any amendment thereto regardless of whether such event is defined as a material default and breach of this Lease in this Section 13.

Appears in 1 contract

Samples: Terayon Communication Systems

Tenant’s Default. 14.1 Any other provisions SECTION 15.01 RE-ENTRY Provided and it is hereby expressly agreed that if and whenever the Rent hereby reserved or any part thereof shall not be paid on the days appointed for payment thereof, whether lawfully demanded or not, or in this Lease notwithstandingthe case of breach or non-observance or non-performance of any of the covenants, agreements, provisos, conditions or Rules and Regulations on the part of the Tenant to be kept, observed or performed, FOR A PERIOD OF TEN (10) DAYS FOLLOWING RECEIPT OF WRITTEN NOTICE OF SUCH BREACH OR NON-OBSERVANCE OR NON-PERFORMANCE, or in case the Leased Premises shall be vacated or remain unoccupied for fifteen (15) CONSECUTIVE days or in case the term shall be taken in execution or attachment for any cause whatever, then and in every such case, it shall be an event lawful for the Landlord thereafter to enter into and upon the Leased Premises or any part thereof in the name of default (“Event the whole and the same to have again, repossess and enjoy as of Default”) under its former estate, anything in this Lease ifcontained to the contrary notwithstanding other than proviso to this Section 15: Provided that notwithstanding anything to the contrary hereinbefore in this Section 15 contained, the Landlord shall not at any time have the right to re-enter and forfeit this Lease by reason of the Tenant's default in the payment of Basic Rent and Additional Rent, hereby reserved by this Lease, unless and until the Landlord shall have given to the Tenant at least five (i5) business days' written notice of its intention so to do and setting forth the default complained of and the Tenant fails shall have the right during such five (5) business days to pay cure any installment such default in payment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten Rent; PROVIDED THAT IN THE EVENT OF A BREACH, NON-OBSERVANCE, OR NON-PERFORMANCE BY THE TENANT WHICH IS CAPABLE OF BEING CURED, BUT IS NOT REASONABLY CAPABLE OF BEING CURED WITHIN THE TEN (10) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such nonDAY NOTICE PERIOD DESCRIBED ABOVE THE TENANT SHALL NOT BE DEEMED TO BE IN DEFAULT IF IT HAS COMMENCED TO REMEDY SUCH BREACH OR NON-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveOBSERVANCE OR NON-PERFORMANCE AND HAS DILIGENTLY THEREAFTER PROCEEDED TO COMPLETE THE REMEDYING THEREOF.

Appears in 1 contract

Samples: Indenture (Visible Genetics Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any one or more of the following events shall constitute a default and breach of this Lease notwithstanding, it shall be an event by Tenant. 22.A. The vacating or abandonment of default (“Event of Default”) under this Lease if: (i) the Premises by Tenant. 22.B. The failure by Tenant fails to pay make any installment payment of rent or any other sum payable payment required to be made by Tenant hereunder hereunder, as and when due and due, where such failure continues shall continue for a period of ten three (103) days after written notice from thereof by Landlord to Tenant. 22.C. The failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by the Tenant, other material covenant or agreement of Tenant herein contained and than described in Article 22.B. above, where such failure continues shall continue for a period of thirty (30) days after written notice given thereof by or on behalf of Landlord to Tenant for Tenant; provided, however, that if the nature of Tenant's default is such that more than thirty (30) daysdays are reasonably required for its cure, provided, however, that then Tenant shall not be deemed to be in default if Tenant commences such non-monetary Event of Default by Tenant cannot reasonably be cured cure within such said thirty (30) day period, period and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall thereafter diligently prosecutes such cure period extend beyond ninety (90) days following notice from Landlord to completion. 22.D. The making by Tenant of such violation, default any general assignment or breachgeneral arrangement for the benefit of creditors; or the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in arrangement under any law relating to bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and(unless, in the case of any such involuntary actiona petition filed against Tenant, such action shall not be dismissed, discharged or denied the same is dismissed within sixty (60) days after days; or the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) appointment of a custodian, receiver, trustee or liquidator a receiver to take possession of Tenant or of all or substantially all of Tenant’s property 's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises shall be appointed or of Tenant's interest in any proceedings brought by or against Tenant andthis Lease, in the latter case, where such entity shall seizure is not be discharged within sixty thirty (6030) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovedays.

Appears in 1 contract

Samples: Fee Agreement (Orange National Bancorp)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstandingThe failure to perform or honor any covenant, it shall be an event of default (“Event of Default”) condition or representation made under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable shall constitute a default hereunder by Tenant hereunder when due upon expiration of the appropriate grace period hereinafter provided, except as expressly and such failure continues for specifically provided in Subparagraph 9(e) [Repair and Maintenance; Cure Rights]. Tenant shall have a period of ten three (103) days after from the date of written notice from Landlord (which notice shall be in lieu of and not in addition to the notice required by Section 1161 of the California Code of Civil Procedure) within which to cure any default in the payment of Base Rent or Additional Charges; provided, however, that Landlord shall not be required to provide such notice more than twice during any four (4) year period during the Term with respect to non-payment of Base Rent or Additional Charges, the third such non-payment constituting default without requirement of notice. Tenant that such payment has shall have a period of thirty (30) days from the date of written notice from Landlord (which notice shall be in lieu of and not been received, or (iiin addition to the notice required by Section 1161 of the California Code of Civil Procedure) Tenant fails within which to observe or perform cure any other material covenant curable default under this Lease; provided, however, that with respect to any curable default other than the payment of Base Rent or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than Additional Charges that cannot reasonably be cured within thirty (30) days, provided, however, that the default shall not be deemed to be uncured if such non-monetary Event of Default by Tenant cannot reasonably be cured commences to cure within such thirty (30) day period, days from Landlord’s notice and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Defaultprosecute diligently the curing thereof. Notwithstanding the foregoing, but in no event shall such (i) if a different cure period extend beyond ninety (90) days following notice from Landlord is specified elsewhere in this Lease or the Work Letter with respect to any specific obligation of Tenant, such specific cure period shall apply with respect to a default of such violationobligation; (ii) the foregoing cure rights shall not extend the specified time for compliance with any required delivery, default approval or breach, or performance obligation of Tenant under the Work Letter; and (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant foregoing cure rights shall not apply to any state bankruptcy law or any similar state law, and, Draw Event (as defined in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveWork Letter).

Appears in 1 contract

Samples: Lease Agreement (Reliant Technologies Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it ​ ​ Each of the following events shall be deemed to be an event of default (“Event of Default”) , after applicable notice and cure periods, under this Lease ifLease: (i) Tenant fails failure to pay any installment Base Rent as and when due, provided that it shall not be an Event of rent Default if such Base Rent is paid within three (3) business days after written notice thereof (ii) failure to pay or any other sum payable by Tenant hereunder when monetary obligation due and such failure continues for a period of ten to Landlord within five (105) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or thereof; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, breaches its obligations under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or Section 4.B; (iv) a custodianTenant becomes insolvent, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make makes an assignment for the benefit of creditors, or institutes a proceeding under state or federal bankruptcy laws (or successor laws) or Tenant shall admit be adjudged bankrupt or insolvent in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through proceedings filed against Tenant; (v) abovea writ of attachment or execution is levied on this Lease, or a receiver is appointed with authority to take possession of the Premises, which attachment, execution or receiver is not removed within thirty (30) days of filing or appointment of a receiver; (vi) Tenant shall be liquidated or dissolved; (vii) Tenant shall violate Section 23 hereof (subject to the contest and cure rights set forth therein); (viii) the estate or interest of Tenant in the Premises or any part thereof shall be levied upon or attached in any proceeding relating to more than One Hundred Thousand and No/100 Dollars ($100,000.00), and the same shall not be vacated, discharged or stayed pending appeal (or bonded or otherwise similarly secured payment) within the earlier of sixty (60) days after commencement thereof or thirty (30) days after receipt by Tenant of notice thereof from Landlord or any earlier period provided by Law for obtaining any stay pending appeal or to prevent foreclosure or sale; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable Law; (ix) subject to Tenant’s right to self-insure, as set forth in Section 16, Tenant fails to maintain any insurance required by this Lease; and (x) failure by Tenant to perform any other covenant, agreement or undertaking of the Tenant contained in this Lease if the failure to perform is not cured within thirty (30) days after Xxxxxx’s receipt of Landlord’s written notice thereof; provided, however, if the breach cannot reasonably be cured within thirty (30) days, the same shall not result in an Event of Default if Tenant commences to cure the breach within thirty (30) days of receipt of Landlord’s written notice and diligently and in good faith continues to prosecute the cure of said breach to completion, provided such breach is cured within one hundred eighty (180) days after Xxxxxx’s receipt of Xxxxxxxx’s written notice thereof.

Appears in 1 contract

Samples: Lease Agreement (Citi Trends Inc)

Tenant’s Default. 14.1 Any other provisions in At the option of Landlord, a material breach of this Lease notwithstandingby Tenant shall exist if any of the following events (severally, it shall be an event of default (“"Event of Default"; collectively, "Events of Default") under this Lease ifshall occur: (i) if Tenant fails shall have failed to pay any installment Rent, including Tenant's Pxxxxxxage Share of rent increased Operating Expenses, or any other sum payable by Tenant required to be paid hereunder when due, together with interest at the Interest Rate, from the date the amount became due through the date of payment, inclusive; (ii) if Tenant shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and such failure continues for a period of ten Tenant shall have failed to cure the breach within fifteen (1015) days after written notice from Landlord if the breach could reasonably be cured within the fifteen (15) day period; provided, however, if the failure could not reasonably be cured within the fifteen (15) day period, then Tenant shall not be in default unless it has failed to promptly commence and thereafter continue to make diligent and reasonable efforts to cure the failure as soon as practicable as reasonably determined by Landlord; (iii) if Tenant that such payment has not been receivedshall have assigned its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or (ii) Tenant fails to observe or perform execution on, any other material covenant or agreement part of the property of Tenant herein contained and such failure continues after written notice given by or on behalf any property essential to the conduct of Landlord Tenant's business shall have occurred, and Tenant shall have failed to obtain a return or release of the property within thirty (30) days thereafter, or prior to sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) if Tenant shall have failed to continuously and uninterruptedly conduct its business in the Premises, or shall have abandoned or vacated the Premises; (vi) if a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for more than a period of thirty (30) days, provided, however, that ; (vii) if such non-monetary Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the federal Bankruptcy Laws or any applicable state law; or (viii) if Tenant shall have failed to comply with the provisions of Sections 23 or 25 of this Lease. An Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect shall constitute a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovethis Lease.

Appears in 1 contract

Samples: North Valley Bancorp

Tenant’s Default. 14.1 Any other The occurrence of any one or more of the following events shall, at Landlord’s option, constitute a material default by Tenant of the provisions in of this Lease notwithstanding, it shall be an event of default (each a Event of Default”): 19.1 Tenant’s failure to occupy the Premises within sixty (60) under days after receipt of a Certificate of Occupancy for the applicable Phase, or the abandonment of all or a substantial portion of any Phase of the Premises by Tenant during the term of this Lease if: (i) Lease, after the receipt of a Certificate of Occupancy for the applicable Phase; 19.2 The failure by Tenant fails to pay make any installment payment of rent Rent, Additional Rent or any other sum payable payment required hereunder within three (3) business days after the same is due provided that for the first two (2) such failures in any twelve (12) month period, Landlord shall provide written notice to Tenant and the same shall not be a default by Tenant hereunder when due and unless such failure continues for a period of ten more than three (103) business days after written Landlord’s delivery of such notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Section 1161 or any similar or successor law; 19.3 The failure by Tenant to observe, perform or comply with any of the conditions, covenants or provisions of this Lease (except failure to make any payment of Rent and/or Additional Rent) and such failure is not cured within (i) thirty (30) days from the date that Landlord delivers written notice of such failure to Tenant for all failures other than with respect to the timely delivery by Tenant of any documents required by Section 16, a counterpart of a fully executed Transfer document and a consent thereto (collectively, the “Transfer Documents”), an estoppel certificate or insurance certificates, and (ii) the time period, if any, specified in the applicable sections of this Lease with respect to subordination, assignment and sublease, estoppel certificates and insurance. However, a Default shall not be considered to have occurred if such non-monetary Event failure (other than any failure of Default Tenant to timely deliver any documents required by Tenant Section 16, the Transfer Documents, an estoppel certificate or insurance certificates, for which no additional cure period shall be given to Tenant) cannot reasonably be cured within such thirty (30) day or shorter applicable period, and provided further that Tenant is proceeding promptly commences, and thereafter diligently proceeds with due diligence same to effect a cure of said Event of Defaultcompletion, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence all actions necessary to cure said Event of Defaultsuch failure as soon as is reasonably possible, but in no event shall the completion of such cure period extend beyond be later than ninety (90) days following after the date on which Landlord delivers to Tenant written notice from Landlord of such violationfailure, default or breachunless Landlord, or (iii) Tenant files acting reasonably and in good faith, otherwise expressly agrees in writing to a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under longer period of time based upon the Federal Bankruptcy Code (Title 11 circumstances relating to such failure as well as the nature of the United States Code)failure and the nature of the actions necessary to cure such failure; or 19.4 Any Transfer in violation of Section 14; 19.5 Tenant shall fail to discharge, as now bond over in a manner reasonably acceptable to Landlord or hereafter in effect, or under otherwise obtain the release of any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, lien placed upon the Premises in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought manner required by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.this Lease; or

Appears in 1 contract

Samples: Neurocrine Biosciences Inc

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it It shall be an event of default (“"Event of Default”) under this Lease if: " if (i) Tenant fails shall fail to pay when due any monthly installment of rent Rent or any other sum payable by charge or payment required of Tenant hereunder when due (although no legal or formal demand has been made therefor); (ii) Tenant shall violate or fail to perform any of the other conditions, covenants or agreements herein made by Tenant, and such violation or failure continues shall continue for a period of ten (10) fifteen days after written notice from Landlord thereof to Tenant that by Landlord; (iii) Tenant shall make a general assignment for the benefit of its creditors or shall file a petition for bankruptcy or other reorganization, liquidation, dissolution or similar relief; (iv) a proceeding is filed against Tenant seeking any relief mentioned in (iii) above; (v) a trustee, receiver or liquidator shall be appointed for Tenant or a substantial part of its property; (vi) Tenant shall vacate or abandon the Leased Premises (an absence of substantial activity by Tenant in the Leased Premises for more than 7 days to constitute such payment has not been receivedabandonment); or (vii) Tenant shall mortgage, assign or otherwise encumber its leasehold interest. If an Event of Default occurs, this lease shall, at the option of Landlord, cease and terminate and shall operate as a notice to quit--any notice to quit, or (ii) Tenant fails of Landlord's intention to observe re-enter, being hereby expressly waived and Landlord may proceed to recover possession under and by virtue of the provisions of the laws of Maryland, or perform any by such other material covenant or agreement of Tenant proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this lease, the obligations herein contained and such failure continues after written notice given by or on behalf the part of Landlord to Tenant for more than thirty (30) daysbe performed shall cease without prejudice, provided, subject however, that if such non-monetary Event to the right of Default Landlord to recover from Tenant all rental and other charges accrued up to the time of termination or recovery of possession by Tenant cannot reasonably Landlord, whichever is later. Should this lease be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure terminated before the expiration of said the term of this lease by reason of an Event of Default, no Event of Default hereunder the Leased Premises may be relet by Landlord, for such rent and upon such terms as Landlord is able to obtain, and, if the full Rent shall not be realized by Landlord, Tenant shall be declared liable for all damages sustained by Landlord, including, without limitation, the deficiency in Rent, reasonable attorneys' fees, other collection costs and all expenses (including leasing fees) of placing the Leased Premises in first class rentable condition. Any damage or loss sustained by Landlord if Tenant continues may be recovered by Landlord, at Landlord's option, (i) at the time of the reletting, (ii) in separate actions, from time to proceed with diligence to cure time, as said Event of Defaultdamage shall have been made more easily ascertainable by successive relettings, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under be deferred until the Federal Bankruptcy Code (Title 11 expiration of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, andterm of this lease, in which event the case cause of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after deemed to have accrued until the filing thereof, or Tenant consents or acquiesces in the filing thereofdate of expiration of said term, or (iv) if Landlord is unable to find a custodiannew tenant for the Leased Premises within sixty days from termination of the lease, receiver, trustee or liquidator of Tenant or shall immediately pay Landlord the present value (discounted at 10%) of all or substantially all of Tenant’s property or the Base Rent due for the remainder of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty Term (60as if there had been no termination for cause) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) above.liquidated damages SUBJECT,

Appears in 1 contract

Samples: Lease Amendment Agreement (Integral Systems Inc /Md/)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant's failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease by Tenant hereunder when the date such amount is due and where such failure continues for a period three (3) business days after Tenants receipt of ten Landlord's notice that Rent was not received, (10ii) the abandonment of the Premises by Tenant; (iii) Tenant's failure to observe and perform any other required provision of this Lease, where such failure continues for thirty (30) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, provided however, that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismisseddeemed in default if it commences within such period to cure, discharged or denied within sixty (60) days after and thereafter diligently prosecutes the filing thereof, or Tenant consents or acquiesces in the filing thereof, or same to completion; (iv) a custodian, receiver, trustee or liquidator Tenant's making of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Xxxxxx, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; (vii) the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days; (viii) a default by Tenant under the Building 3 Lease; or (ix) the occurrence of any other event described as a default elsewhere in this Lease or any amendment thereto regardless of whether such event is defined as a material default and breach of this Lease in this Paragraph 13.

Appears in 1 contract

Samples: Scios Inc

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) under this Lease if: (i) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when due and hereunder, where such failure continues for a period of ten (10) days after written notice from thereof by Landlord to Tenant; b) The abandonment of the Premises by Tenant; c) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing within thirty (30) days); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within sixty (60) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred to in clauses (iii) through (v) aboveCivil Procedure Section 1161.

Appears in 1 contract

Samples: Lease (Hybrid Networks Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) under this Lease if: (i) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when due and hereunder, where such failure continues for a period of ten (10) days after written notice from thereof by Landlord to Tenant; b) The abandonment or vacation of the Premises by Tenant; c) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred to in clauses (iii) through (v) aboveCivil Procedure Section 1161.

Appears in 1 contract

Samples: Hadco Corp

Tenant’s Default. 14.1 Any other provisions in Failure on the part of Tenant to pay the Rent when due, or the failure of Tenant to promptly and faithfully keep and perform every covenant, condition, agreement and obligation of this Lease notwithstanding, it shall other than payment of Rent on the part of Tenant to be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due kept and such failure continues performed for a period of more than ten (10) days after written notice of such default shall have been given to Tenant, shall, at the option of Landlord, cause the forfeiture of this Lease, without, however, releasing Tenant from liability, as hereinafter provided, and if such default shall not be corrected within the applicable period aforesaid, possession of the Demised Premises and all improvements thereon shall be delivered to Landlord and thereupon Landlord shall be entitled to and may take immediate possession of the Demised Premises, any other notice or demand being hereby waived. Tenant agrees to quit and deliver possession of the Demised Premises to Landlord or Landlord’s assigns, successors or agents, when this Lease terminates by limitation or forfeiture, and Tenant agrees that the Demised Premises shall be in substantially the same order and in as good condition as received, normal wear and use excepted. In addition, failure on the part of Tenant to pay the Rent or any other sums due hereunder within the time specified herein shall also subject Tenant to a penalty of one and one-half percent (1 1/2%) of said payments for each month from the date said payment was due until the date said payment is made. Notwithstanding anything in this Lease to the contrary, and without limiting Landlord’s other rights and remedies provided for in this Lease or at law or equity, if Tenant is in default under any covenant, condition, or agreement of this Lease more than two (2) times within any twelve (12)-month period, irrespective of whether or not such default is cured, and irrespective of whether it is a different covenant, condition, or agreement, Landlord, at its sole election and in its sole and absolute discretion, and without notice to Tenant, may do one or more of the following in addition to all other rights: (i) Landlord may require Tenant to increase the security deposit by an amount that Landlord determines, in its sole and absolute discretion, is necessary to protect its interests, provided that such payment has amount does not been receivedexceed three (3) months of the then applicable monthly Rent, or which increase shall be paid by Tenant immediately upon demand by Landlord; (ii) Tenant fails Charge a fee (the “Penalty Fee”) in addition to observe or perform any other material covenant fee or penalty provided for in this Lease, on the third occurrence of Tenant’s violation of any covenant, condition, or agreement, as Additional Rent, of two hundred fifty & 00/100 dollars ($250.00), which Penalty Fee shall automatically increase for each additional violation of any covenant, condition, or agreement of Tenant herein contained in this Lease by twenty-five percent (25%) over the previous most recently charged Penalty Fee ; (iii) Cancel and such failure continues after written notice given by terminate Tenant’s right to exercise all or on behalf of Landlord any option(s) and rights granted to Tenant for more than thirty under Article 11.20 of this Lease, if any; (30iv) daysRequire that beginning with the first monthly installment of Minimum Rent next due, providedthe Minimum Rent and OER shall no longer be paid in monthly installments, howeverbut shall be payable in advance on a quarterly basis, that if such non-monetary on the first day of the first month of each calendar quarter; (v) Declare the third or subsequent violation of any covenant, condition or agreement in this Lease a noncurable Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default pursue any or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) aboveremedies hereunder.

Appears in 1 contract

Samples: Lease Agreement

Tenant’s Default. 14.1 Any other provisions in At the option of Landlord, a material breach of this Lease notwithstandingby Tenant shall exist if any of the following events (severally, it shall be an event of default (“"Event of Default"; collectively, "Events of Default") under this Lease ifshall occur: (i) it Tenant fails shall have failed to pay any installment Rent, including Tenant's Percentage Share of rent Operating expenses, or any other sum payable by Tenant required to be paid hereunder when due, together with interest at the Interest Rate, from the date the amount became due through the date of payment, inclusive; (ii) it Tenant shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and such failure continues for a period of ten Tenant shall have failed to cure the breach within fifteen (1015) days after written notice from Landlord if the breach could reasonably be cured within the fifteen (15) day period; provided, however, it the failure could not reasonably be cured within the fifteen (15) day period, then Tenant shall not be in default unless it has failed to promptly commence and thereafter continue to make diligent and reasonable efforts to cure the failure as soon as practicable as reasonably determined by Landlord; (iii) if Tenant that such payment has not been receivedshall have assigned its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or (ii) Tenant fails to observe or perform execution on, any other material covenant or agreement part of the property of Tenant herein contained and such failure continues after written notice given by or on behalf any property essential to the conduct of Landlord Tenant's business shall have occurred, and Tenant shall have failed to obtain a return or release of the property within thirty (30) days thereafter, or prior to sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) if Tenant shall have failed to continuously and uninterruptedly conduct its business in the Premises, or shall have abandoned or vacated the Premises; (vi) if a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for more than period of thirty (30) days, provided, however, that ; (vii) if such non-monetary Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the federal Bankruptcy Laws or any applicable state law: or (viii) if Tenant shall have failed to comply with the provisions of Section 23 or 25. An Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect shall constitute a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovethis Lease.

Appears in 1 contract

Samples: Sub Sublease (Computer Literacy Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant: a) under this Lease if: (i) Any failure by Tenant fails to pay any installment rent under this Lease, where such failure continues after applicable notice and cure periods; b) The abandonment of rent or the Premises by Tenant; (c) A failure by Tenant to observe and perform any other sum payable provision of this Lease to be observed or performed by Tenant hereunder when due and Tenant, where such failure continues for a period of ten thirty (1030) days after written notice from thereof by Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged, stayed or bonded against within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred Civil Procedure Section 1161. Any notice given by Landlord to in clauses Tenant pursuant to California Code of Civil Procedure Section 1161 with respect to any failure by Tenant to pay rent under this Lease on or before the date the rent is due shall provide Tenant with a period of no less than ten (iii10) through (v) abovedays to pay such rent or quit.

Appears in 1 contract

Samples: Diagnostic Retrieval Systems Inc

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it 20.1 All rights and remedies of Landlord herein enumerated shall be cumulative, and none shall exclude any other rights or remedies allowed by law or in equity. The occurrence of any of the following shall constitute an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails shall fail to pay make payment of any monthly installment of rent Rent, Additional Rent, or any other sum payable charges hereunder in the amount as herein provided within three (3) days from the date any such payment is due; (ii) Tenant shall violate or fail to perform any of the other terms, covenants or conditions herein made by Tenant hereunder when due Tenant, and such violation or failure continues shall continue for a period of ten thirty (1030) days after written notice from Landlord thereof to Tenant that by Landlord or, if such payment has not been received, violation or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more shall reasonably require longer than thirty (30) daysdays to cure, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured shall fail to commence to cure same within such thirty (30) day period, days after receipt of notice thereof and provided further that Tenant is proceeding continuously prosecute the curing of the same to completion with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or diligence; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an a general assignment for the benefit of creditors, its creditors or shall admit file or have filed involuntarily against Tenant, a petition for bankruptcy or other reorganization, liquidation, dissolution or similar relief; (iv) a proceeding is filed against Tenant seeking any relief mentioned in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through above and said proceeding is not discharged within forty-five (45) days of the filing thereof; (v) abovea trustee, receiver or liquidator shall be appointed for Tenant on a substantial part of its property; or (vi) Tenant shall mortgage, assign or otherwise encumber its leasehold interest other than as specifically permitted under this Lease.

Appears in 1 contract

Samples: Commercial Lease (Emerge Interactive Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default by Tenant: (“Event of Default”a) Any failure by Tenant to pay any rent under this Lease if: on or before the date such rent is due under this Lease or to restore the Security Deposits to the amounts required within the periods provided in the Lease after receipt of written notice thereof; (ib) a failure by Tenant fails to pay any installment of rent or observe and perform any other sum payable provision of this Lease to be observed or performed by Tenant hereunder when due and Tenant, where such failure continues for a period of ten Thirty (1030) days after written notice from thereof by Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty Thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissedin default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion; (c) the making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition filed against Tenant, discharged or denied the same is not dismissed within sixty Sixty (60) days after the filing thereof, or Tenant consents or acquiesces in filing; the filing thereof, or (iv) appointment of a custodian, receiver, trustee or liquidator receiver to take possession of Tenant or of all or substantially all of Tenant’s property 's assets located at the Premises or of the Premises shall be appointed Tenant's interest in any proceedings brought by or against this Lease, where possession is not restored to Tenant and, in the latter case, such entity shall not be discharged within sixty Sixty (60) days after days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such appointment or Tenant consents to or acquiesces in such appointment, or seizure is not discharged within Sixty (v60) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become duedays. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred Civil Procedure Section 1161, provided that such notices are given in the manner required by such statute. Any notice given by Landlord to in clauses Tenant pursuant to California Civil Code Section 1161 with respect to any failure by Tenant to pay rent under this Lease on or before the date the rent is due under this Lease shall provide Tenant with a period of no less than Ten (iii10) through (v) abovedays to pay such rent or quit.

Appears in 1 contract

Samples: Lease Agreement (Packeteer Inc)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it 16.1 All rights and remedies of Landlord herein enumerated shall be cumulative, and none shall exclude any other rights or remedies allowed by law or in equity. The occurrence of any of the following shall constitute an event of default (“"Event of Default”) under " of this Lease ifby Tenant: (i) Tenant fails to pay shall default in the payment of any monthly installment of rent Rent, Additional Rent, or any other sum payable charges hereunder at the time and in the amount as herein provided; (ii) Tenant shall violate or fail to perform any of the other terms, covenants or conditions herein made by Tenant hereunder when due Tenant, and such violation or failure continues shall continue for a period of ten (10) days after written notice from Landlord thereof to Tenant that such payment has not been receivedby Landlord or, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event violation or failure shall reasonably require longer than ten (10) days to cure, if Tenant shall fail to commence to cure same within ten (10) days after receipt of Default by Tenant cannot reasonably be cured within such thirty (30) day period, notice thereof and provided further that Tenant is proceeding continuously prosecute the curing of the same to completion with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or diligence; (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an a general assignment for the benefit of creditorsits creditors or shall file or have filed involuntarily against Tenant, a petition for bankruptcy or other reorganization, liquidation, dissolution or similar relief; (iv) a proceeding is filed against Tenant seeking any relief mentioned in (iii) above and said proceeding is not discharged within forty-five (45) days of the filing thereof; (v) a trustee, receiver or liquidator shall be appointed for Tenant on a substantial part of its property; (vi) Tenant shall vacate or abandon the Premises; (vii) Tenant shall mortgage, assign or otherwise encumber its leasehold interest other than as specifically permitted under this Lease; or, (viii) Tenant shall be late a total of three (3) times in any one (1) calendar year in the payment of Rent, or any other sums or charges when due Landlord under this Lease, or shall admit repeatedly default in writing its inability the keeping, observing or performing of any other terms, covenants or conditions herein contained to pay its debts generally as they become due. The notice and grace period provisions in clauses be kept, observed or performed by Tenant (i) and (ii) above provided Notice of such payment or other defaults shall have no application been given to the Events Tenant, but irrespective of Default referred to in clauses (iii) through (v) abovewhether or not Tenant shall have timely cured any such payment or other defaults for which Notice was given).

Appears in 1 contract

Samples: Lease (DHB Capital Group Inc /De/)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it The following shall be defined and deemed as an event "EVENT OF DEFAULT": (a) if Tenant shall default in the payment of the Minimum Rental or any additional rent and if Tenant shall fail to cure said default within five (“Event 5) business days after receipt from Landlord of Default”a written notice of such default, or, (b) if Tenant shall default in the performance or observance of any term, obligation, covenant or condition to be performed or observed by Tenant under this Section 19 or under any of Section 17 of this Lease; or (c) if Tenant shall default in the performance or observance of any other term, obligation, covenant or condition to be performed or observed by Tenant under this Lease if: and if Tenant shall fail to cure said default within twenty-five (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (1025) days after written receipt of notice of said default from Landlord Landlord, or if said default shall reasonably require longer than twenty-five (25) days to cure, if Tenant that such payment has not been receivedshall fail to commence to cure said default within twenty-five (25) days after receipt of notice thereof and continuously prosecute the curing of the same to completion with due diligence, or (iid) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues shall make an assignment of its property for the benefit of creditors or shall institute any proceedings relating to proceed with diligence it or its property under any bankruptcy or insolvency laws of any jurisdiction or shall petition to cure said Event any court for, or consent to, the appointment of Defaulta receiver, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord trustee or assignee of such violation, default it or breachany part of its property, or (iiie) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing if an involuntary case, order for relief under the Federal Bankruptcy Code (any provisions of Title 11 of the United States Code), Bankruptcy Code and any amendments thereto (hereinafter referred to as now or hereafter in effectthe "BANKRUPTCY CODE") shall be entered against tenant, or under any similar (f) if Tenant shall be declared bankrupt or insolvent according to law, or files or has filed against it a petition or answer in (g) if any bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action insolvency proceedings shall be commenced against Tenant and shall not be dismissed, discharged or denied dismissed within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereofthereafter, or (ivh) if a custodian, receiver, trustee trustee, or liquidator assignee shall be appointed without the consent of Tenant in any bankruptcy or insolvency proceedings of Tenant or the property of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity and shall not be discharged within sixty ninety (6090) days after such appointment or Tenant consents to or acquiesces in such appointmentthereafter, or (vi) if Tenant shall generally not pay Tenant’s debts as such debts become duebe Liquidated or dissolved, or shall make an assignment for the benefit of creditorsbegin proceedings toward its liquidation or dissolution, or shall admit shall, in writing any manner, permit the divestiture of substantially all of its inability assets, or (j) if, as a result of any failure by Tenant to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application perform or observe any of the terms, obligations, covenants or conditions to the Events of Default referred to in clauses (iii) through (v) above.be performed or observed by

Appears in 1 contract

Samples: Kellstrom Industries Inc

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it It shall be an event of default (“"Event of Default”) under this Lease if: " if (i) Tenant fails to pay within ten (10) days of when due any installment of rent Rent or any other sum payable by charge or payment required of Tenant hereunder when due (although no legal or formal demand has been made therefore); (ii) Tenant violates or fails to perform any of the conditions, covenants, terms or agreements in this Lease except those described in (i) and such violation or failure continues for a period of ten fifteen (1015) days after written notice from Landlord thereof to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or Landlord; (iii) Tenant files makes a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of its creditors, or shall admit files a petition for bankruptcy or other reorganization, liquidation, dissolution or similar relief; (iv) a proceeding is filed against Tenant seeking any relief mentioned in writing (iii) above; (v) a trustee, receiver or liquidator is appointed for Tenant or a substantial part of its inability property; (vi) Tenant vacates or abandons the Leased Premises and does not continue to pay Rent currently (an absence of substantial activity by Tenant in the Leased Premises for more than seven (7) consecutive days shall constitute such abandonment); or (vii) Tenant mortgages, assigns or otherwise encumbers its debts generally leasehold interest without the prior written consent of Landlord. If an Event of Default occurs, at the option of Landlord, the Lease shall continue, or the Lease shall cease and terminate. This Lease shall operate as they become duea notice to quit, or of Landlord's intention to reenter the Leased Premises, such notices being hereby expressly waived, and Landlord may proceed to recover possession under and by virtue of the provisions of the laws of Virginia or by such other proceedings, including reentry and possession, that may be available to Landlord. The notice If Landlord elects to terminate this Lease, the obligations herein to be performed by Landlord shall cease without prejudice, subject, however, to the right of Landlord to recover from Tenant all Rents and grace period provisions other charges accrued up to the time of termination or recovery of possession by Landlord, whichever is later. If this Lease is terminated before the expiration of the Lease Term by reason of an Event of Default, the Leased Premises may be re-let by Landlord for such rent and upon such terms as Landlord is able to reasonably obtain, and, if the full Rent is not realized by Landlord, Tenant shall be liable for all damages sustained by Landlord, including, without limitation, the deficiency in clauses Rent, reasonable attorneys' fees, collection and repossession costs and all expenses of placing the Leased Premises in rentable condition and leasing the Leased Premises (including commissions, tenant improvements and concessions, etc.). If the Landlord takes possession of the Leased Premises pursuant to this Lease, Landlord may in its own name but, as agent for Tenant, re-let the Leased Premises for such term or terms and on such conditions as Landlord, in its discretion may determine. Upon any re-letting by Landlord, the amount of rent and other terms and conditions of such re-letting shall be deemed prima facie fair and reasonable. Any damage or loss sustained by Landlord may be recovered by Landlord, at Landlord's option, (i) and at anytime; (ii) above in separate actions, from time to time, as said damage shall have no application to the Events of Default referred to in clauses been made more easily ascertainable by re-letting or otherwise; (iii) through be deferred until the expiration of the Lease Term, in which event the cause of action shall not be deemed to have accrued until the date of expiration of said Lease Term; or (viv) aboveif Landlord after attempting to get a new tenant is unable to find a new tenant for the Leased Premises within one hundred twenty (120) days from termination of this Lease, Tenant shall pay Landlord the present value (discounted at 10%) of all the Base Rent due for the remainder of the Lease Term (as if there had been no termination for cause) as liquidated damages and not as a penalty subject to a credit or credits for all net income (income less expenses) received by Landlord from a tenant for occupancy during the Lease Term of Tenant. The provisions contained in this Section 22 shall be in addition to and shall not prevent the enforcement of any claim Landlord may have against Tenant. All rights and remedies of Landlord under this Lease shall be cumulative and shall not be exclusive of any other rights and remedies provided to Landlord under applicable law.

Appears in 1 contract

Samples: Geerlings & Wade Inc

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it The following shall be defined and deemed as an event of default (“"Event of Default": (a) if Tenant shall default in the payment of the Minimum Rental or any additional rent and if Tenant shall fail to cure said default within five (5) business days after receipt from Landlord of a written notice of such default, or, (b) if Tenant shall default in the performance or observance of any term, obligation, covenant or condition to be performed or observed by Tenant under this Section 19 or under any of Section 17 of this Lease; or (c) if Tenant shall default in the performance or observance of any other term, obligation, covenant or condition to be performed or observed by Tenant under this Lease if: and if Tenant shall fail to cure said default within twenty-five (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due and such failure continues for a period of ten (1025) days after written receipt of notice of said default from Landlord Landlord, or if said default shall reasonably require longer than twenty-five (25) days to cure, if Tenant that such payment has not been receivedshall fail to commence to cure said default within twenty-five (25) days after receipt of notice thereof and continuously prosecute the curing of the same to completion with due diligence, or (iid) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured within such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues shall make an assignment of its property for the benefit of creditors or shall institute any proceedings relating to proceed with diligence it or its property under any bankruptcy or insolvency laws of any jurisdiction or shall petition to cure said Event any court for, or consent to, the appointment of Defaulta receiver, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord trustee or assignee of such violation, default it or breachany part of its property, or (iiie) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing if an involuntary case, order for relief under the Federal Bankruptcy Code (any provisions of Title 11 of the United States Bankruptcy Code and any amendments thereto (hereinafter referred to as the "Bankruptcy Code), as now or hereafter in effect") shall be entered against tenant, or under any similar (f) if Tenant shall be declared bankrupt or insolvent according to law, or files or has filed against it a petition or answer in (g) if any bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action insolvency proceedings shall be commenced against Tenant and shall not be dismissed, discharged or denied dismissed within sixty (60) days after the filing thereof, or Tenant consents or acquiesces in the filing thereofthereafter, or (ivh) if a custodian, receiver, trustee trustee, or liquidator assignee shall be appointed without the consent of Tenant in any bankruptcy or insolvency proceedings of Tenant or the property of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity and shall not be discharged within sixty ninety (6090) days after such appointment or Tenant consents to or acquiesces in such appointmentthereafter, or (vi) if Tenant shall generally not pay Tenant’s debts as such debts become duebe Liquidated or dissolved, or shall make an assignment for the benefit of creditorsbegin proceedings toward its liquidation or dissolution, or shall, in any manner, permit the divestiture of substantially all of its assets, or (j) if, as a result of any failure by Tenant to perform or observe any of the terms, obligations, covenants or conditions to be performed or observed by it under this Lease, a breach or default shall admit in writing its inability to pay its debts generally as they become duehave occurred and be continuing under any Superior Lease or Mortgage. The notice and grace period provisions word "Tenant" as used in clauses subsections (d), (e), (f), (g), (h), (i) and (j) of this Section 19 shall mean the then holder of the Tenant's interest in this Lease hereunder and/or any Guarantor and/or other persons who or which are liable for Tenant's obligations under this Lease. The words "Landlord" and "Tenant" as used in subsections (b) and (c) of this Section 19 shall mean any person, firm or entity controlled by, under common control with, or controlling the Landlord or the "Tenant" (as defined in the preceding sentence under this Lease, respectively); and for the purpose of interpreting this sentence the word "control shall be deemed to mean capable of directing the business activities and direction of such person, firm or entity. Any defaults in Tenant's liabilities or obligations under this Lease occasioned by any acts or failures to act by any persons having or claiming any 'right, title and interest in or to the Leased Premises by, through or under Tenant, shall be deemed the default of Tenant hereunder. If this Lease is terminated pursuant to this Section 19, Tenant waives (i) the benefit of any Laws exempting property from liability for rent or for debt, and (ii) above the service of any notice which may be required by any Laws. In case of the occurrence of any Event of Default hereinbefore provided, the Landlord shall have no application the immediate 'right of reentry and may remove all persons and property from the Leased Premises by summary proceedings, force or otherwise. In addition to all other remedies afforded by law and/or equity, in the Events event of the occurrence of any Event of Default referred (whether or not Landlord shall elect to reenter or to take possession pursuant to legal proceedings or pursuant to any notice provided for by Laws), Landlord shall have the right, at its option, to (i) declare the balance of the entire rent for the entire rental term of this Lease to be immediately due and payable (in clauses which event Landlord may then proceed to collect all of the unpaid rent called for by this Lease by distress or otherwise) which rental shall be discounted to its present value, (ii) trigger the Purchase and Sale Obligation as described below, or (iii) through terminate this Lease on not less than two (v2) abovedays notice to Tenant and upon the giving of said notice, this Lease and the term hereof shall cease and expire on the date set forth is said notice as if said date were the expiration date originally set forth herein and/or it may from time to time, whether or not this Lease be terminated, make such alterations and repairs as may be reasonably necessary in order to relet the Leased Premises or any part(s) thereof for such term or terms (which may extend beyond the term of this Lease) and at such rental(s) and upon such other terms and conditions as Landlord in its sole discretion may deem advisable; upon each such reletting all rentals received by the Landlord from such reletting shall be applied, first, to the payment of any indebtedness (other than rents due hereunder) of Tenant to Landlord, second, to the payment of any costs and expenses of such reletting, including, without limitation, brokerage fees (at no greater than customary rates in the area in which the Leased Premises is located) and reasonable attorneys' fees and of the cost of such alterations and repairs, third, to the payment of rents due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rents and other payments required to be made by Tenant hereunder as the same may become due and payable hereunder, with the right reserved to Landlord to bring such action(s) or proceeding(s) for the recovery of any deficits remaining unpaid without being obliged to await the end of the term for a final determination of Tenant's account; and the commencement or maintenance of any one or more actions shall not bar Landlord from bringing other or subsequent actions for further accruals pursuant to the provisions of this Section. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency shall be calculated and paid monthly subject to Landlord's right of action(s) or proceeding(s), as aforesaid. No such reentry or taking possession of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination, thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach as damages for loss of the bargain and not as a penalty, including the cost of recovering the Leased Premises, reasonable attorneys' fees, and including the worth, at the time of such termination of the excess, if any, of the amount of rental and charges equivalent to the rental and charges reserved in this Lease for the remainder of the then term of this Lease, over the aggregate rental value of the Leased Premises for the remainder of such term, all of which shall be immediately due and payable from Tenant to Landlord. If any Laws shall validly limit the amount of the damages provided for in the immediately preceding sentence to less than the amount above agreed upon, Landlord shall be entitled to the maximum amount allowable under such Laws. In the event the Tenant does not comply with its obligations under this Lease, Landlord shall also have the right to appropriate injunctive relief. The rights and remedies whether herein or anywhere else in this Lease provided shall be cumulative and the exercise of any one right or remedy shall not preclude the exercise of or act as a waiver of any other right or remedy of Landlord hereunder or which may be existing at law, or in equity or by statute or otherwise. In addition to the foregoing, Tenant, and its successors and assigns, shall at all times indemnify Landlord for, defend Landlord against and save Landlord harmless from any liability, loss, cost, injury, damage or other expense or risk whatsoever directly or indirectly, arising out of, resulting from or otherwise in connection with the failure for any reason on the part of Tenant to perform, observe or comply with any of the covenants, conditions and obligations under this Lease to be performed, observed or complied with by Tenant.

Appears in 1 contract

Samples: Lease (Aviation Sales Co)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it The occurrence or existence of any one or more of the following shall be constitute an event of default (“Event of Default” (or, collectively, “Events of Default”) by Tenant under this Lease ifLease: (i1) if Tenant fails shall have failed to pay any installment Base Rent, Tenant’s Percentage Share of rent Operating Expenses and Taxes, or any other sum payable by required to be paid hereunder within (5) after written notice that such amount is unpaid; (ii) if Tenant hereunder when due shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and such failure continues for a period of ten Tenant shall have failed to cure the breach within thirty (1030) days after written notice from Landlord to Tenant if the breach could reasonably be cured within the thirty (30) day period; provided, however, that if the nature of Tenant’s obligation is such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for that more than thirty (30) daysdays are required for its performance, provided, however, that then Tenant shall not be deemed to be in default if Tenant shall commence the performance of such non-monetary Event of Default by Tenant cannot reasonably be cured obligation within such the thirty (30) day period, period and provided further that Tenant is proceeding with due diligence thereafter shall diligently prosecute the same to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or completion; (iii) the interest of Tenant files in this Lease is levied upon under execution or other legal process; (iv) a petition commencing is filed by or against Tenant to declare Tenant bankrupt or seeking a voluntary caseplan of reorganization or arrangement under any Chapter of the Bankruptcy Code, or has filed against it a petition commencing an involuntary caseany amendment, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now replacement or hereafter in effectsubstitution therefor, or under any similar lawto delay payment of, reduce or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state lawmodify Tenant’s debts, and, which in the case of any such an involuntary action, such action shall is not be dismissed, discharged or denied within sixty thirty (6030) days after the filing thereof, days; (v) a material adverse change occurs in Tenant’s financial condition or Tenant consents is declared insolvent by Law or acquiesces in the filing thereof, is dissolved or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all any assignment of Tenant’s property is made for the benefit of creditors or of the Premises shall be a receiver is appointed in for Tenant or Tenant’s property, which appointment is not discharged within thirty (30) days; (vi) any proceedings brought act is taken by or against Tenant and, to reorganize or modify Tenant’s capital structure in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, a materially adverse way; or (vvii) if Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for have abandoned the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovePremises.

Appears in 1 contract

Samples: Consulting Agreement (Simpson Manufacturing Co Inc /Ca/)

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstanding, it If the Leased Property shall be deserted or vacated, or Tenant shall voluntarily file a petition in bankruptcy or be adjudicated a bankrupt in a proceeding against it, or a receiver for Tenant or for all or a substantial part of its property shall be appointed, or a court order shall be made approving a petition seeking reorganization or an event of arrangement under the Bankruptcy Act and any such adjudication, appointment or order shall not have been vacated or set aside or otherwise terminated or stayed within sixty (60) days from the entry or granting thereof, or if there shall be a default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment in the payment of rent or any other sum payable by Tenant hereunder when due and such failure continues part thereof for a period of ten more than fifteen (1015) days after written notice from of such default by the Landlord to Tenant that such payment has not been receivedis received by Tenant, or (ii) if there shall be default by Tenant fails to observe or perform in the performance of any other material covenant or agreement of Tenant material condition herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) daysdays after receipt of written notice thereof; then, providedupon any of such events, howeverthis Lease (if the Landlord so elects) shall thereupon become null and void, that and the Landlord may, at its option, relet the Leased Property or any part thereof, as the agent of the Tenant, and the Tenant shall pay the Landlord the difference, if such non-monetary Event of Default any, between the rent owed by Tenant cannot reasonably for the remaining portion of the Lease term and the amount received or to be cured within received under such thirty (30) day period, and provided further that Tenant is proceeding with due diligence to effect a cure reletting for such portion of said Event of Default, no Event of Default hereunder the Lease term. Landlord shall be declared by required to exercise reasonable good faith efforts to mitigate its damages and relet the Leased Property in accordance with the customary practice in South Carolina. Should the Tenant, pursuant to this Lease, become obligated to reimburse or otherwise pay the Landlord if Tenant continues any sum of money in addition to proceed with diligence to cure said Event of Defaultthe base rent, but in no event the amount thereof shall such cure period extend beyond ninety (90) days following notice from Landlord of such violationbe deemed additional rent and may, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under at the Federal Bankruptcy Code (Title 11 option of the United States Code)Landlord, as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant be added to any state bankruptcy law or any similar state law, andsubsequent installment of the base rent due and payable under this Lease, in which event the case of any such involuntary action, such action Landlord shall not be dismissed, discharged or denied within sixty (60) days after have the filing thereof, or Tenant consents or acquiesces remedies for default in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought payment thereof provided by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become duethis Lease. The notice and grace period provisions in clauses (i) and (ii) above of this paragraph shall have no application to survive the Events termination of Default referred to in clauses (iii) through (v) abovethis Lease.

Appears in 1 contract

Samples: Lease Agreement (Eautoclaims Com Inc)

Tenant’s Default. 14.1 Any If Tenant defaults in the payment of any rent or other provisions in this Lease notwithstanding, it shall be an event of default (“Event of Default”) sums due and payable to Landlord under this Lease if: (i) Tenant fails to pay any installment of rent or any other sum payable by Tenant hereunder when due Lease, and such failure default continues for a period of ten five (105) days after written notice from of such default has been given by Landlord to Tenant, or if Tenant shall violate or default in the performance of any material covenants, agreements, stipulations, or other conditions contained herein (other than the payment of rent and other sums payable under this Lease) and such violation or default continues for a period of thirty (30) days after written notice of such violation or default has been given by Landlord to Tenant that such payment has (or, in the case of default not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than curable within thirty (30) days, provided, however, that if such non-monetary Event of Default by Tenant cannot reasonably be cured shall fail to commence to cure the same within such thirty (30) day perioddays and thereafter proceed diligently to complete the cure thereof), then Landlord at its option may reenter and repossess the Demised Premises with process of law, and provided further that Tenant is proceeding with due diligence declare this Lease terminated and the term of this Lease ended forthwith. Landlord may use such legal force as may be necessary to effect a cure of said Event of Default, no Event of Default hereunder shall be declared remove all persons and property then located in the Demised Premises. Notwithstanding such reentry and repossession by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord and the holding of such violationfixtures, default or breachinventory, or (iii) other personal property, the liability of Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under for the Federal Bankruptcy Code (Title 11 payment of the United States Code), rent and other sums due hereunder and for the performance of Tenant's other obligations hereunder for the balance of the term of this Lease shall not be relinquished or extinguished; and Landlord at any time may commence such one or more actions as now or hereafter in effect, or it may deem necessary to collect any sums due from Tenant under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in this Lease. In the case event of any such involuntary actionreentry and repossession, Landlord shall have the right to relet all or any portion of the Demised Premises upon such action terms and conditions as Landlord may deem appropriate; and any such reletting shall not be dismissedrelieve Tenant of any of its obligations to Landlord under this Lease, discharged or denied within sixty (60) days except to the extent of any net rentals actually received by Landlord from such reletting. after the filing thereof, or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially deducting all of Tenant’s property or Landlord's expenses (including but not limited to legal expenses, brokerage commissions, and the costs of remodeling the Demised Premises shall be appointed so as to render it suitable for reletting) incurred in any proceedings brought by or against Tenant and, in the latter case, preparing for and accomplishing such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through (v) abovereletting.

Appears in 1 contract

Samples: Lease Agreement (BVBC Capital Trust I)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (i) Tenant fails Tenant’s failure to pay any installment of the Base Monthly Rent including additional rent or any other sum payable payment due under this Lease, where such failure to pay continues for five (5) days after written notice thereof by Tenant hereunder when due Landlord to Tenant, (ii) the abandonment of the Premises by Tenant; (iii) Tenant’s failure to observe and perform any other required provision of this Lease, where such failure continues for a period of ten thirty (1030) days after written notice from Landlord to Tenant that such payment has not been received, or (ii) Tenant fails to observe or perform any other material covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, provided, however, that if the nature of the default is such non-monetary Event of Default by Tenant that it cannot reasonably be cured within such thirty (the 30) -day period, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismisseddeemed in default if it commences within such period to cure, discharged or denied within sixty (60) days after and thereafter diligently prosecutes the filing thereof, or Tenant consents or acquiesces in the filing thereof, or same to completion; (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or making of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application to the Events of Default referred to in clauses (iii) through ; (v) abovethe filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed after the filing); (vi) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days or (vii) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days.

Appears in 1 contract

Samples: Netflix Inc

Tenant’s Default. 14.1 Any other provisions in this Lease notwithstandingIf Tenant shall neglect or fail to perform or observe any term, it shall be an event of default (“Event of Default”) under this Lease if: (i) Tenant fails to pay any installment of rent covenant or any other sum payable condition by Tenant hereunder when due to be performed or observed hereunder, and such neglect or failure continues shall continue for a period of more than ten (10) days after written notice from Landlord with respect to Tenant that such payment has not been received, the covenant to pay Rent or (ii) Tenant fails to observe or perform any other material covenant or agreement calling for the payment of money by Tenant herein contained hereunder, including the obligation to pay Tenant's Share and such failure continues after written notice given by or on behalf of Landlord to Tenant for Tenant's Conversion Share, and more than thirty (30) daysdays after written notice to Tenant thereof with respect to any other term, providedcovenant or condition, howeveror if Tenant shall abandon, that vacate or cease operating from the Premises, or if such non-monetary Event of Default a petition is filed by Tenant cannot reasonably be cured within such thirty (30) day periodunder any bankruptcy, and provided further that Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breachreceivership, or (iii) Tenant files a petition commencing a voluntary case, other insolvency or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar creditors' rights law, or files or has if such a petition is filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of Tenant under any such involuntary action, such action law and the same shall not be dismissed, discharged vacated, stayed, or denied set aside within sixty thirty (6030) days from the date thereof, then, and in any of said cases, Landlord may terminate this Lease by so notifying Tenant. At the time of the termination or at any time thereafter, Landlord may rent the Premises, and for a term which may expire after the filing thereofexpiration of the term of this Lease, without releasing Tenant from any liability whatsoever. Tenant shall be liable for any reasonable expenses incurred by Landlord in connection with obtaining possession of the Premises, with removing from the Premises property of Tenant and persons claiming under Tenant (including warehouse charges) which Tenant was required by this Lease to remove at the expiration or Tenant consents or acquiesces termination of this Lease, with putting the Premises into condition for reletting, and with any reletting, including, but without limitation, any differences in the filing thereofrent to be paid, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises reasonable attorneys' fees and brokers' fees; and any monies collected from any reletting shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due. The notice and grace period provisions in clauses (i) and (ii) above shall have no application applied first to the Events foregoing expenses and then to the payment of Default referred rent and all other payments due from Tenant to in clauses (iii) through (v) aboveLandlord.

Appears in 1 contract

Samples: Lease Agreement (Nestor Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a material default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”by Tenant a) under this Lease if: (i) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when due and hereunder, where such failure continues for a period of ten (10) days after written notice from thereof by Landlord to Tenant; b) Subject to paragraph 22, the abandonment or vacation of the Premises by Tenant; c) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence shall not be deemed to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord in default if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall within such period commence such cure period extend beyond ninety (90and thereafter diligently prosecute the same to completion; d) days following notice from Landlord The making by Tenant of such violation, default any general assignment for the benefit of creditors; the filing by or breach, or (iii) against Tenant files of a petition commencing to have Tenant adjudged a voluntary case, bankrupt or has filed against it of a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant under any law relating to any state bankruptcy law or any similar state law, and(unless, in the case of any such involuntary actiona petition filed against Tenant, such action shall the same is dismissed after the filing); the appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not be dismissed, discharged or denied restored to Tenant within sixty (60) days after days; or the filing thereofattachment, execution or Tenant consents or acquiesces in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator other judicial seizure of Tenant or of all or substantially all of Tenant’s property 's assets located at the Premises or of the Premises shall be appointed Tenant's interest in any proceedings brought by or against Tenant andthis Lease, in the latter case, where such entity shall seizure is not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become duedays. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred to in clauses (iii) through (v) aboveCivil Procedure Section 1161.

Appears in 1 contract

Samples: Lease Assignment Agreement (Supertex Inc)

Tenant’s Default. 14.1 Any other provisions in The occurrence of any of the following shall constitute a default and breach of this Lease notwithstanding, it shall be an event of default (“Event of Default”) under this Lease ifby Tenant: (ia) Any failure by Tenant fails to pay any installment of rent the rental or to make any other sum payable payment required to be made by Tenant hereunder when due and hereunder, where such failure continues for a period of ten (10) days after written notice from thereof by Landlord to Tenant; (b) The abandonment or vacation of the Premises by Tenant; (c) A failure by Tenant that such payment has not been received, or (ii) Tenant fails to observe or and perform any other material covenant provision of this Lease to be observed or agreement of Tenant herein contained and performed by Tenant, where such failure continues after written notice given by or on behalf of Landlord to Tenant for more than thirty (30) days, days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such non-monetary Event of Default by Tenant default is such that the same cannot reasonably be cured within such thirty (30) day period, and provided further that period Tenant is proceeding with due diligence to effect a cure of said Event of Default, no Event of Default hereunder shall be declared by Landlord if Tenant continues to proceed with diligence to cure said Event of Default, but in no event shall such cure period extend beyond ninety (90) days following notice from Landlord of such violation, default or breach, or (iii) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be dismissed, discharged or denied within sixty (60) days after the filing thereof, or Tenant consents or acquiesces deemed to be in the filing thereof, or (iv) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the Premises shall be appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or Tenant consents to or acquiesces in such appointment, or (v) default if Tenant shall generally not pay Tenant’s debts as within such debts become due, or shall make an period commence such cure and thereafter diligently prosecute the same to completion; (d) The making by Tenant of any general assignment for the benefit of creditors; the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or shall admit receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in writing its inability this Lease, where possession is not restored to pay its debts generally as they become dueTenant within thirty (30) days; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and grace period provisions not in clauses (i) and (ii) above shall have no application addition to the Events notices required by California Code of Default referred to in clauses (iii) through (v) aboveCivil Procedure Section 1161.

Appears in 1 contract

Samples: Hadco Corp

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