Common use of TENANT’S DEFAULTS Clause in Contracts

TENANT’S DEFAULTS. A. If there is a default by Tenant under the terms of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 6 contracts

Samples: Office Lease, Office Lease, Office Lease

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TENANT’S DEFAULTS. A. If there Each of the following events shall be an “Event of Default” hereunder: (a) Tenant fails to pay when due any installment of Fixed Rent or Additional Rent and such default continues for ten days after Landlord’s notice of such default is given to Tenant; or (b) Tenant defaults in observing or performing the provisions of Section 3.1(a) (subject to Tenant’s right to challenge the default as set forth in Section 3.1(a)), and such default continues for 3 Business Days after notice; or (c) Except where a default by Tenant under the terms of shorter period may be provided in this Lease, Tenant fails to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant and such failure continues for more than the obligation 30 days after notice by Landlord to pay Rent and Additional RentTenant of such default, or such default is of such a nature that it cannot be completely remedied within 30 days and Tenant vacates fails to commence to remedy such failure within 30 days, and thereafter fails to diligently prosecute to completion all steps necessary to remedy such default; or (d) Intentionally Omitted; or (e) Tenant’s interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 16 hereof and Tenant shall not have cured such default within 30 days after receipt of notice from Landlord regarding the Office prior same; or (f) Tenant admits in writing its inability to, pay its debts as they become due; or (g) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the Termination Dateappointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (h) if, within 120 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within 120 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant, or for all or any part of Tenant’s property, without the consent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or if an any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant’s property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, or if ; or (i) Tenant shall fail to comply with the retail covenants set out in Exhibit F to this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written failure shall continue for five (5) day Business Days after notice canceling from Landlord to Tenant; provided, that Tenant shall not be in default under this Lease and Tenantclause (i) if, at the end of said within such five (5) Business Day period, Tenant commences to remedy such default and thereafter diligently prosecutes to completion all steps necessary to remedy such default, but in no event shall such default continue for more than 15 days after Landlord’s initial notice regarding such default; or (j) if the Guaranty shall vacate and surrender the Office and Tenant shall continue cease to remain liable as set forth under this Lease. B. If Tenant shall be in default full force and effect for any reason other than the termination of the Guaranty in accordance with the payment provisions of Rent and/or Additional Rent, or Section 2(b) of the Guaranty; or (k) if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, Guarantor (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant as defined Article 35) shall default under the Guaranty beyond any termapplicable notice and grace period; or (l) if the Guarantor (i) fails to (A) maintain a Net Worth of ***** or (B) a Cash Flow of ***** and (ii) fails to deliver to Landlord a Letter of Credit (as defined in the Guaranty) within the time period set forth in the Guaranty. Upon the occurrence of any one or more of such Events of Default, condition and/or provision Landlord may, at its sole option, give to Tenant three days’ notice of cancellation of this Lease, Landlord may cancel in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such renewal or extension upon three(3) days prior written three day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to TenantLandlord, but Tenant shall remain liable for damages as provided in Article 20 hereof.

Appears in 3 contracts

Samples: Lease (MSG Spinco, Inc.), Lease Agreement (Madison Square Garden, Inc.), Lease Agreement (Madison Square Garden, Inc.)

TENANT’S DEFAULTS. A. If there is a default by Tenant under the terms of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- re-enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- re-entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 3 contracts

Samples: Office Lease, Office Lease, Office Lease

TENANT’S DEFAULTS. A. If there is a Tenant shall be deemed to be in default by hereunder if: (a) Tenant fails to pay the Rent or other charges on or before the date on which the same become due and payable to Landlord under and in accordance with the terms of this Lease, and such failure continues for fifteen (15) days after written notice from Landlord thereof; or (b) Tenant fails to perform or observe any other than the obligation to pay Rent and Additional Rent, term or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if condition contained in this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with within thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior after written notice to Tenant which sets forth Tenant’s default(s) from Landlord thereof. In any of such events, Landlord may, immediately or at any time thereafter, and should Tenant fail to completely cure said specified default(s) within said fifteen (15) dayswithout demand or notice, enter into and upon the Premises, or if any part thereof, and repossess the default(s)same, by its nature cannot and expel Tenant and those claiming through or under Tenant and remove Tenant's effects, all without force or breach of the peace, and without prejudice to any remedies which might otherwise be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) dayspermitted for default under this Lease, then , in such eventand upon entry as aforesaid, Landlord may serve upon Tenant, a written five either (5a) day notice canceling terminate this Lease and Tenant, in which event Landlord shall be entitled to recover from Tenant the unpaid rent which has been earned at the end time of said five (5) days shall vacate and surrender termination, plus the Office and Tenant shall continue amount by which the unpaid rent which would have been earned for the balance of the term exceeds the amount such rental loss that the Lessee proves could have been reasonably avoided, plus any other amount necessary to remain liable as set forth compensate Landlord for all the determent approximately caused by Tenant's failure to perform its obligations under this Lease. B. If Tenant ; or (b) without terminating this Lease, make such alterations and relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion my deem advisable, and all rentals received by Landlord from such reletting shall be in default in applied to the payment of Rent and/or Additional Rentany indebtedness other than rent due hereunder from Tenant to Landlord, or if second, to the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which cost or expense of such reletting, and third, to the payment of rent due and unpaid hereunder, and being understood that if such rentals received from such reletting during any month be less than that to be paid during that month by Tenant is liable hereunder, Tenant shall pay any such deficiency to pay, then Landlord, the same calculated and paid monthly notwithstanding any such reletting without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Leasetermination, Landlord may cancel at any time thereafter elect to terminate this Lease for such renewal prior material default or extension upon three(3) days prior written notice to Tenantbreach.

Appears in 2 contracts

Samples: Lease Agreement (Petro Stopping Centers L P), Lease Agreement (Petro Stopping Centers Holdings Lp)

TENANT’S DEFAULTS. A. If there is a Tenant shall be deemed to be in default by hereunder if: (i) Tenant under the terms of this Lease, other than the obligation fails to pay the Rent or other charges on the date due and Additional Rent, such failure continues for fifteen (15) days after written notice from Landlord thereof; or (ii) Tenant vacates the Office prior fails to the Termination Date, perform or if an execution has been issued against the property of Tenant observe any other term or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if condition contained in this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with within thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior after written notice to Tenant which sets forth Tenant’s default(s) from Landlord thereof. In any of such events, Landlord may, immediately or at any time thereafter, and should Tenant fail to completely cure said specified default(s) within said fifteen (15) dayswithout demand or notice, enter into and upon the Premises, or if any part thereof, and repossess the default(s)Premises and Equipment, by its nature cannot and expel Tenant and those claiming through or under Tenant and remove Tenant's effects, all without force or breach of the peace, and without prejudice to any remedies which might otherwise be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) dayspermitted for default under this Lease, then , in such eventand upon entry as aforesaid, Landlord may serve upon Tenant, a written five either (5a) day notice canceling terminate this Lease and Tenant, in which event Landlord shall be entitled to recover from Tenant the unpaid rent which has been earned at the end time of said five (5) days shall vacate and surrender termination, plus the Office and amount by which the unpaid rent which would have been earned for the balance of the term exceeds the amount such rental loss that the Tenant shall continue proves could have been reasonably avoided, plus any other amount necessary to remain liable as set forth compensate Landlord for all the determent approximately caused by Tenant's failure to perform its obligations under this Lease. B. If Tenant ; or (b) without terminating this Lease, make such alterations and relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion my deem advisable, and all rentals received by Landlord from such reletting shall be in default in applied to the payment of Rent and/or Additional Rentany indebtedness other than rent due hereunder from Tenant to Landlord, or if second, to the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which cost or expense of such reletting, and third, to the payment of rent due and unpaid hereunder, and being understood that if such rentals received from such reletting during any month be less than that to be paid during that month by Tenant is liable hereunder, Tenant shall pay any such deficiency to pay, then Landlord, the same calculated and paid monthly notwithstanding any such reletting without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Leasetermination, Landlord may cancel at any time thereafter elect to terminate this Lease for such renewal prior material default or extension upon three(3) days prior written notice to Tenantbreach.

Appears in 2 contracts

Samples: Lease Agreement (Petro Stopping Centers L P), Lease Agreement (Petro Stopping Centers Holdings Lp)

TENANT’S DEFAULTS. A. If there is a Tenant shall be deemed to be in default by hereunder if: (i) Tenant fails to pay the Rent or other charges on the date due and such failure continues for ten (10) days after written notice from Landlord thereof; or (ii) Tenant fails to perform or observe any other term or condition contained in this Lease within twenty (20) days after written notice from Landlord thereof. In any of such events, Landlord may, immediately or at any time thereafter, and without demand or notice, enter into and upon the Premises, or any part thereof, and repossess the Premises and Equipment, and expel Tenant and those claiming through or under Tenant and remove Tenant's effects, all without force or breach of the terms of peace, and without prejudice to any remedies which might otherwise be permitted for default under this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such evententry as aforesaid, Landlord may serve upon Tenant, a written five either (5a) day notice canceling terminate this Lease and Tenant, in which event Landlord shall be entitled to recover from Tenant the unpaid rent which has been earned at the end time of said five (5) days shall vacate and surrender termination, plus the Office and amount by which the unpaid rent which would have been earned for the balance of the term exceeds the amount such rental loss that the Tenant shall continue proves could have been reasonably avoided, plus any other amount necessary to remain liable as set forth compensate Landlord for all the determent approximately caused by Tenant's failure to perform its obligations under this Lease. B. If Tenant ; or (b) without terminating this Lease, make such alterations and relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion my deem advisable, and all rentals received by Landlord from such reletting shall be in default in applied to the payment of Rent and/or Additional Rentany indebtedness other than rent due hereunder from Tenant to Landlord, or if second, to the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which cost or expense of such reletting, and third, to the payment of rent due and unpaid hereunder, and being understood that if such rentals received from such reletting during any month be less than that to be paid during that month by Tenant is liable hereunder, Tenant shall pay any such deficiency to pay, then Landlord, the same calculated and paid monthly notwithstanding any such reletting without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Leasetermination, Landlord may cancel at any time thereafter elect to terminate this Lease for such renewal prior material default or extension upon three(3) days prior written notice to Tenantbreach.

Appears in 2 contracts

Samples: Lease Agreement (Petro Stopping Centers Holdings Lp), Lease Agreement (Petro Stopping Centers L P)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an “Event of Default” hereunder: (a) Tenant fails to pay when due any installment of Fixed Rent or Additional Rent and such default continues for ten days after Landlord’s notice of such default is given to Tenant; or (b) Tenant defaults in observing or performing the provisions of Section 3.1(a) (subject to Tenant’s right to challenge the default as set forth in Section 3.1(a)), and such default continues for 3 Business Days after notice; or (c) Except where a default by Tenant under the terms of shorter period may be provided in this Lease, Tenant fails to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant and such failure continues for more than the obligation 30 days after notice by Landlord to pay Rent and Additional RentTenant of such default, or such default is of such a nature that it cannot be completely remedied within 30 days and Tenant vacates fails to commence to remedy such failure within 30 days, and thereafter fails to diligently prosecute to completion all steps necessary to remedy such default; or (d) Intentionally Omitted; or (e) Tenant’s interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 16 hereof and Tenant shall not have cured such default within 30 days after receipt of notice from Landlord regarding the Office prior same; or (f) Tenant admits in writing its inability to, pay its debts as they become due; or (g) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the Termination Dateappointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (h) if, within 120 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within 120 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant, or for all or any part of Tenant’s property, without the consent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or if an any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant’s property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, or if ; or (i) Tenant shall fail to comply with the retail covenants set out in Exhibit F to this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written failure shall continue for five (5) day Business Days after notice canceling from Landlord to Tenant; provided, that Tenant shall not be in default under this Lease and Tenantclause (i) if, at the end of said within such five (5) Business Day period, Tenant commences to remedy such default and thereafter diligently prosecutes to completion all steps necessary to remedy such default, but in no event shall such default continue for more than 15 days after Landlord’s initial notice regarding such default; or (j) if the Guaranty shall vacate and surrender the Office and Tenant shall continue cease to remain liable as set forth under this Lease. B. If Tenant shall be in default full force and effect for any reason other than the termination of the Guaranty in accordance with the payment provisions of Rent and/or Additional Rent, or Section 2(b) of the Guaranty; or (k) if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, Guarantor (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant as defined Article 35) shall default under the Guaranty beyond any termapplicable notice and grace period; or (l) if the Guarantor (i) fails to (A) maintain a Net Worth of [*****] or (B) a Cash Flow of [*****] and (ii) fails to deliver to Landlord a Letter of Credit (as defined in the Guaranty) within the time period set forth in the Guaranty. Upon the occurrence of any one or more of such Events of Default, condition and/or provision Landlord may, at its sole option, give to Tenant three days’ notice of cancellation of this Lease, Landlord may cancel in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such renewal or extension upon three(3) days prior written three day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to TenantLandlord, but Tenant shall remain liable for damages as provided in Article 20 hereof.

Appears in 2 contracts

Samples: Lease Agreement (MSG Entertainment Spinco, Inc.), Lease Agreement (MSG Entertainment Spinco, Inc.)

TENANT’S DEFAULTS. A. If there is In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events shall constitute a default “Default” by Tenant: (a) The failure by Tenant under to make any payment of rent required to be made by Tenant, as and when due, where the failure continues for a period of 3 days after written notice from Landlord to Tenant. For purposes of these default and remedies provisions, the term “additional rent” shall be deemed to include all amounts of any type whatsoever other than Basic Rent to be paid by Tenant pursuant to the terms of this Lease. (b) The assignment, sublease, encumbrance or other than Transfer of the obligation to pay Rent and Additional RentLease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or Tenant vacates other means, without the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , consent of Landlord unless otherwise authorized in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end Article 9 of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If (c) The discovery by Landlord that any financial statement provided by Tenant, or by any affiliate, successor or guarantor of Tenant, was materially false. (d) Except where a specific time period is otherwise set forth for Tenant’s performance in this Lease (in which event the failure to perform by Tenant within such time period shall be a Default), the failure or inability by Tenant to observe or perform any of the covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any other subsection of this Section 14.1(d), where the failure continues for a period of 30 days after written notice from Landlord to Tenant. However, if the nature of the failure is such that more than 30 days are reasonably required for its cure, then Tenant shall not be deemed to be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or Default if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (commences the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwisecure within 30 days, and dispossess thereafter diligently pursues the cure to completion. (e) Tenant or other occupantany Guarantor becomes insolvent, by any lawful mannermakes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business. The notice periods provided herein are in lieu of, and remove their possessions not in addition to, any notice periods provided by law, and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for required to give any damage sustained additional notice under California Code of Civil Procedure Section 1161, or any successor statute, in order to the property of Tenant or other occupant. If their be entitled to commence an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantunlawful detainer proceeding.

Appears in 2 contracts

Samples: Lease Agreement, Lease (Ruckus Wireless Inc)

TENANT’S DEFAULTS. A. If there is Each of the following events shall be an “Event of Default” hereunder: (a) Tenant fails to pay when due any installment of Rent, if the failure continues for a period of three (3) days after notice of failure has been given by Landlord to Tenant; or (b) Tenant fails to observe or perform any other term, covenant or condition of this Amended and Restated Lease and such failure continues for more than 30 days (10 days with respect to a default under Article 3, Article 9 or Section 26.10) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3, Article 9 or Section 26.10) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any part of the security held by it hereunder, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or if Landlord draws on any Letter of Credit (as hereinafter defined), in part or in whole, and Tenant fails to provide Landlord with a replacement Letter of Credit, within 5 days after notice by Landlord to Tenant stating the amount applied, retained or drawn, as applicable; or (d) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the terms bankruptcy laws of this Leasethe United States, other than the obligation to pay Rent and Additional Rentas now in effect or hereafter amended, or Tenant vacates the Office prior to the Termination Dateany state thereof, and such order, judgment or if an execution has been issued against the property of Tenant decree shall not be vacated or Tenant whereby the Office is used and/or occupied by someone other than Tenant, set aside or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) stayed within 60 days from the Possession Date, the Landlord, upon fifteen (15) days prior written date of entry thereof. The notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , periods provided herein are in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwiselieu of, and dispossess Tenant or other occupantnot in addition to, any notice periods provided by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantlaw.

Appears in 2 contracts

Samples: Lease Agreement (Marchex Inc), Lease Agreement (Marchex Inc)

TENANT’S DEFAULTS. A. If there is a default by Tenant under the terms of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter reenter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry reentry by Landlord Lxxxxxxx and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 2 contracts

Samples: Office Lease (McTc Holdings, Inc.), Office Lease (McTc Holdings, Inc.)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an "Event of Default" hereunder: (a) Tenant fails to pay when due any installment of Rent and such default shall continue for five (5) Business Days after notice of such default is given to Tenant (which notice may be in the form of an Illinois Statutory 5-day notice utilized in Forcible Entry and Detainer Proceedings, except that if Landlord shall have given three such notices of default in the payment of any Rent in any twelve month period, Tenant shall not be entitled to any further notice of its delinquency in the payment of any Rent or an extended period in which to make payment until such time as twelve consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the occurrence of any default in the payment of any Rent within such twelve month period after the giving of three such notices shall constitute an Event of Default; or (b) Tenant uses the Premises for a default purpose which constitutes a Prohibited Use and if such use continues for more than 10 days after notice by Landlord to Tenant of such default; or (c) Tenant fails to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant under the terms and if such failure continues for more than 10 Business Days after notice by Landlord to Tenant of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Datesuch failure, or if such failure is of such a nature that it cannot be completely remedied within 10 days, failure by Tenant to commence to remedy such failure within said 10 Business Days, and thereafter diligently prosecute to completion all steps necessary to remedy such default; or (d) Tenant defaults in the observance or performance of any term, covenant or condition on Tenant's part to be observed or performed under any other lease with Landlord or Landlord's predecessor-in-interest for space in the Building and such default shall continue beyond any grace period set forth in such other lease for the remedying of such default; or (e) Tenant's interest in this Lease shall devolve upon or pass to any person, whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof; or (f) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (g) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or (h) if, within 60 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within 60 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property, without the consent or acquiescence of Tenant, as the case may be, such appointment shall not have been vacated or otherwise discharged, or if any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant's property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant. Upon the occurrence of any one or more of such Events of Default, or if Landlord may, at its sole option, give to Tenant notice of cancellation of this Lease be rejected in a Bankruptcy proceeding, (or should Tenant not take of Tenant's possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(sPremises), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling which event this Lease and the Term (or Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.'s possession

Appears in 2 contracts

Samples: Office Building Lease (Imanage Inc), Office Building Lease (Imanage Inc)

TENANT’S DEFAULTS. A. If there is In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events shall constitute a default “Default” by Tenant: (a) The failure by Tenant under to make any payment of rent required to be made by Tenant, as and when due, where the failure continues for a period of 5 business days after written notice from Landlord to Tenant. For purposes of these default and remedies provisions, the term “additional rent” shall be deemed to include all amounts of any type whatsoever other than Basic Rent to be paid by Tenant pursuant to the terms of this Lease. (b) The assignment, sublease, encumbrance or other than Transfer of the obligation to pay Rent and Additional RentLease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or Tenant vacates other means, without the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , consent of Landlord unless otherwise authorized in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end Article 9 of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If (c) The discovery by Landlord that any financial statement provided by Tenant, or by any affiliate, successor or guarantor of Tenant, was materially false. (d) Except where a specific time period is otherwise set forth for Tenant’s performance in this Lease (in which event the failure to perform by Tenant within such time period shall be a Default), the failure or inability by Tenant to observe or perform any of the covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any other subsection of this Section 14.1(d), where the failure continues for a period of 30 days after written notice from Landlord to Tenant. However, if the nature of the failure is such that more than 30 days are reasonably required for its cure, then Tenant shall not be deemed to be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or Default if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (commences the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwisecure within 30 days, and dispossess thereafter diligently pursues the cure to completion. (e) Tenant or other occupantany Guarantor becomes insolvent, by any lawful mannermakes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business. The notice periods provided herein are in lieu of, and remove their possessions not in addition to, any notice periods provided by law, and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for required to give any damage sustained additional notice under California Code of Civil Procedure Section 1161, or any successor statute, in order to the property of Tenant or other occupant. If their be entitled to commence an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantunlawful detainer proceeding.

Appears in 1 contract

Samples: Lease (Lantronix Inc)

TENANT’S DEFAULTS. A. If there is a Tenant shall be deemed to be in default by hereunder if: (i) Tenant under the terms of this Lease, other than the obligation fails to pay the Rent or other charges on the date due and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with such failure continues for thirty (30) days after written notice from the Possession Date, the Landlord, upon fifteen Landlord thereof; or (15ii) Tenant fails to perform or observe any other term or condition contained in this Lease within thirty (30) days prior after written notice to from Landlord thereof. In any of such events, Landlord may, immediately or at any time thereafter, and without demand or notice, enter into and upon the Premises, or any part thereof, and repossess the Premises and Equipment, and expel Tenant which sets forth and those claiming through or under Tenant and remove Tenant’s default(s) effects, all without force or breach of the peace, and should Tenant fail without prejudice to completely cure said specified default(s) within said fifteen (15) daysany remedies which might otherwise be permitted for default under this Lease, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such eventand upon entry as aforesaid, Landlord may serve upon Tenant, a written five either (5a) day notice canceling terminate this Lease and Tenant, in which event Landlord shall be entitled to recover from Tenant the unpaid rent which has been earned at the end time of said five (5) days shall vacate and surrender termination, plus the Office and amount by which the unpaid rent which would have been earned for the balance of the term exceeds the amount such rental loss that the Tenant shall continue proves could have been reasonably avoided, plus any other amount necessary to remain liable as set forth compensate Landlord for all the damages proximately caused by Tenant’s failure to perform its obligations under this Lease. B. If Tenant ; or (b) without terminating this Lease, make such alterations and relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion my deem advisable, and all rentals received by Landlord from such reletting shall be in default in applied to the payment of Rent and/or Additional Rentany indebtedness other than rent due hereunder from Tenant to Landlord, or if second, to the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which cost or expense of such reletting including the costs of any alterations, and third, to the payment of rent due and unpaid hereunder, and being understood that if such rentals received from such reletting during any month be less than that to be paid during that month by Tenant is liable hereunder, Tenant shall pay any such deficiency to pay, then Landlord, the same calculated and paid monthly notwithstanding any such reletting without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Leasetermination, Landlord may cancel at any time thereafter elect to terminate this Lease for such renewal prior material default or extension upon three(3) days prior written notice to Tenantbreach.

Appears in 1 contract

Samples: Lease Agreement (Petro Stopping Centers L P)

TENANT’S DEFAULTS. A. If there is a Tenant shall be deemed to be in default by hereunder if: (i) Tenant under the terms of this Lease, other than the obligation fails to pay the Rent or other charges on the date due and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with such failure continues for thirty (30) days after written notice from the Possession Date, the Landlord, upon fifteen Landlord thereof; or (15ii) Tenant fails to perform or observe any other term or condition contained in this Lease within thirty (30) days prior after written notice to from Landlord thereof. In any of such events, Landlord may, immediately or at any time thereafter, and without demand or notice, enter into and upon the Premises, or any part thereof, and repossess the Premises and Equipment, and expel Tenant which sets forth and those claiming through or under Tenant and remove Tenant’s default(s) effects, all without force or breach of the peace, and should Tenant fail without prejudice to completely cure said specified default(s) within said fifteen (15) daysany remedies which might otherwise be permitted for default under this Lease, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such eventand upon entry as aforesaid, Landlord may serve upon Tenant, a written five either (5a) day notice canceling terminate this Lease and Tenant, in which event Landlord shall be entitled to recover from Tenant the unpaid rent which has been earned at the end time of said five termination, plus the amount by which the unpaid rent which would have been earned for the balance of the term. In any event, this Landlord shall have a duty to make a good faith effort to mitigate its damages as to any rental loss; or (5b) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under without terminating this Lease. B. If Tenant , make such alterations and relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion my deem advisable, and all rentals received by Landlord from such reletting shall be in default in applied to the payment of Rent and/or Additional Rentany indebtedness other than rent due hereunder from Tenant to Landlord, or if second, to the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which cost or expense of such reletting including the costs of any alterations, and third, to the payment of rent due and unpaid hereunder, and being understood that if such rentals received from such reletting during any month be less than that to be paid during that month by Tenant is liable hereunder, Tenant shall pay any such deficiency to pay, then Landlord, the same calculated and paid monthly notwithstanding any such reletting without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Leasetermination, Landlord may cancel at any time thereafter elect to terminate this Lease for such renewal prior material default or extension upon three(3) days prior written notice to Tenantbreach.

Appears in 1 contract

Samples: Sublease Agreement (Petro Stopping Centers L P)

TENANT’S DEFAULTS. A. If there is a default by Tenant under the terms of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter reenter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry reentry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Office Lease (Cannabis Global, Inc.)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) such default shall continue for five days from the Possession Date, the Landlord, upon fifteen (15) days prior after written notice of such default is given to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or except that if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in Landlord shall have given two such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end notices of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of any Rent and/or Additional Rentin any 12 month period, or if Tenant shall not be entitled to any further notice of its delinquency in the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant is liable having failed to paymake any such payment when due, then Landlord, without notice, (and the occurrence of any default in the payment of any Rent within such 12 month period after the giving of notice is hereby expressly waived by Tenant)two such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and Tenant shall such failure continues for more than 30 days (10 days with respect to a default under Article 3) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any termpart of the security held by Landlord hereunder, condition and/or provision and Txxxxx fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of this LeaseCredit (as hereinafter defined), Landlord may cancel such renewal or extension upon three(3if applicable, within ten (10) days prior written after notice by Landlord to Tenant stating the amount applied or retained; or (d) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) a court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within 60 days from the date of entry thereof.

Appears in 1 contract

Samples: Lease Agreement (Larimar Therapeutics, Inc.)

TENANT’S DEFAULTS. A. If there Time is a default by of the essence hereof, and in the event Tenant under the terms violates or breaches or fails to keep or perform any covenant, agreement, term or condition of this Lease, other than and if such default or violation continues or is not be remedied within five (5) business days (or, if no default in the obligation to pay Rent and Additional Rentpayment of money is involved, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty then within ten (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (1510) days, or if the default(s), by its nature such breach cannot be cured within said fifteen ten (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (1510) days, then , in such event, Landlord may serve upon Tenant, Tenant commences a written five cure within ten (5) day notice canceling this Lease and Tenant, at the end of said five (510) days shall vacate and surrender thereafter diligently prosecutes such cure to completion) after notice in writing thereof is given by Landlord to Tenant specifying the Office and Tenant shall continue matter claimed to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rentdefault, or if Tenant abandons or vacates the notice given pursuant to “A” hereinabove has expired Premises or if Tenant is in default in payment of any other matter for which Tenant is liable to paysignificant portion thereof, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant)at its option, may re- enter the Office, by force or otherwiseimmediately declare Tenant's rights under this Lease terminated, and dispossess Tenant or other occupantreenter the Premises using such force as may be necessary, by any lawful mannerand repossess itself thereof, as of its former estate, and remove their possessions all persons and retake property from the OfficePremises. Notwithstanding any such reentry, the liability of Tenant expressly waives for the right to receive notice full payment of such re- entry by Landlord rent and agrees that Landlord other amounts owed hereunder or provided for herein shall not be responsible extinguished for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision balance of this Lease, and Tenant shall make good to Landlord any deficiency arising from a reletting of the Premises at a lesser rent, plus the costs and expenses of renovating, altering and reletting the Premises, including attorneys' fees or brokers' fees incident to Landlord's reentry or reletting. Tenant shall pay any such deficiency each month as the amount thereof is ascertained by Landlord or, at Landlord's option, Landlord may cancel such renewal recover, in addition to any other sums, the amount at the time of judgment by which the unpaid rent for the balance of the term after judgment exceeds the amount of rental loss which Tenant proves could be reasonably avoided, discounted at the then Federal Discount Rate less two percent (2%). The calculation of any amount of rental loss which Tenant claims could be reasonably avoided shall take into account those sums which are reasonably anticipated to be expended by Landlord for tenant improvements, moving expenses, lease assumption costs, real estate commissions, and all other costs associated with reletting the Premises. In reletting the Premises, Landlord may grant rent concessions and Tenant shall not be credited therefore. Nothing herein shall be deemed to affect the right of Landlord to recover for indemnification under Section 17 herein arising prior to the termination of this Lease, or extension upon three(3) days prior written notice to Tenantfor any other remedy at law or in equity.

Appears in 1 contract

Samples: Lease Agreement (Interactive Objects Inc)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an “Event of Default” hereunder: (a) Tenant fails to pay when due any installment of Fixed Rent or Additional Rent and such default continues for five Business Days after notice of such default is a given to Tenant, except that if Landlord shall have given two such notices of default in the payment of any Rent in any twelve month period, Tenant shall not be entitled to any further notice of delinquency in the payment of any Rent or an extended period in which to make payment until such time as twelve consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the occurrence of any default in the payment of any Rent within such twelve month period after the giving of two such notices shall constitute an Event of Default; or (b) Tenant defaults in the observance or performance of any other term, covenant or condition of this Lease to be observed or performed by Tenant and such default continues for more than 10 days after notice by Landlord to Tenant of such default; or if such default is of such a nature that it can be remedied but cannot be completely remedied within 10 days, Tenant fails to commence to remedy such default within 10 days after such notice or, with respect to any such default, Tenant, having commenced such remedy within 10 days after such notice, fails to diligently prosecute to completion all steps necessary to remedy such default or Tenant fails to complete such remedy within 90 days; or (c) Tenant defaults in the observance or performance of any term, covenant or condition on Tenant’s part to be observed or performed under any other lease with Landlord or Landlord’s predecessor-in-interest for space in the Building and such default shall continue beyond any grace period set forth in such other lease for the remedying of such default; or (d) Tenant’s interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof; or (e) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (f) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (g) if, within 60 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the terms of this Leasepresent or any future federal bankruptcy act or any other present or future applicable federal, state or other than the obligation to pay Rent and Additional Rentstatute or law, such proceeding shall not have been dismissed, or if, within 60 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant vacates or for all or any part of Tenant’s property, without the Office prior to the Termination Dateconsent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or if an any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant’s property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or (h) if Landlord applies or retains any part of the Letter of Credit, and Tenant fails to increase the amount of the Letter of Credit by the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as defined in Section 35.1), if this Lease be rejected in a Bankruptcy proceedingapplicable, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written within 5 Business Days after notice by Landlord to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, stating the amount applied or if retained. Upon the default(s), by its nature cannot be cured within said fifteen (15) days occurrence of any one or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in more of such eventEvents of Default, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenantmay, at the end of said five (5) days shall vacate and surrender the Office and its sole option, give to Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive three days’ notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision cancellation of this Lease, Landlord may cancel in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such renewal or extension upon three(3) days prior written three day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to TenantLandlord, but Tenant shall remain liable for damages as provided in Article 19 hereof.

Appears in 1 contract

Samples: Lease Agreement (Greenhill & Co Inc)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an “Event of Default” hereunder: (a) Tenant fails to pay when due any installment of Rent (provided that Tenant shall be entitled to a grace period before such failure to pay shall constitute an Event of Default of five (5) Business Days after written notice by Landlord to Tenant that such amount is a default by Tenant under past due for the first late payment of Rent during any twelve (12) month period); or (b) Except for an Event of Default falling within the terms of this Leasesubsections (a), (c), (d), (e) or (f), hereof, Tenant fails to observe or perform any other than the obligation to pay Rent and Additional Rentterm, covenant or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property condition of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with and such failure continues for more than thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written after notice by Landlord to Tenant which sets forth Tenant’s default(s) and should Tenant fail to of such default, or if such default is of a nature that it cannot be completely cure said specified default(s) remedied within said fifteen thirty (1530) days, or if the default(s), failure by its nature cannot be cured Tenant to commence to remedy such failure within said fifteen thirty (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (1530) days, then and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within ninety (90) days; or (c) Tenant fails to observe or perform according to the provisions of Articles 3 or 9 or Section 26.10 of this Lease where such eventfailure continues for more than three (3) Business Days after notice from Landlord; or (d) if Landlord applies or retains any part of the security held by it hereunder, and Tenant fails to deposit with Landlord may serve upon Tenantthe amount so applied or retained by Landlord, a written within five (5) day Business Days after notice canceling this Lease and by Landlord to Tenant stating the amount applied, retained, as applicable; or (e) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (f) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, at or of the end whole or any substantial part of said five (5) days shall vacate and surrender its property, without the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment consent of Rent and/or Additional RentTenant, or if approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the notice given pursuant to “A” hereinabove has expired bankruptcy laws of the United States, as now in effect or if Tenant is in default in payment of hereafter amended, or any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwisestate thereof, and dispossess Tenant such order, judgment or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord decree shall not be responsible for any damage sustained to the property of Tenant vacated or other occupant. If their be an extension set aside or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3stayed within sixty (60) days prior written from the date of entry thereof. The notice to Tenantperiods provided herein are in lieu of, and not in addition to, any notice periods provided by applicable Requirements.

Appears in 1 contract

Samples: Lease Agreement (ChromaDex Corp.)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior such default shall continue for 5 Business Days after notice of such default is given to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or except that if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession Landlord shall have given two such notices of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of any Rent and/or Additional Rentin any 12-month period, or if Tenant shall not be entitled to any further notice of its delinquency in the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant is liable having failed to paymake any such payment when due, then Landlord, without notice, (and the occurrence of any default in the payment of any Rent within such 12-month period after the giving of notice is hereby expressly waived by Tenant)2 such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and Tenant shall such failure continues for more than 30 days (10 days with respect to a default under Article 3) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any part of the security held by it hereunder, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as hereinafter defined), if applicable, within 5 days after notice by Landlord to Tenant stating the amount applied or retained; or (d) Tenant defaults in the observance or performance of any term, covenant or condition and/or provision on Tenant’s part to be observed or performed under any other lease with Landlord or Landlord’s predecessor-in-interest for space in the Center and such default shall continue beyond any grace period set forth in such other lease for the remedying of such default; or (e) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (f) a court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within 60 days from the date of entry thereof. Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant 3 days’ notice of cancellation of this LeaseLease (or of Tenant’s possession of the Premises), Landlord in which event this Lease and the Term (or Tenant’s possession of the Premises) shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15. Any notice of cancellation of the Term (or Tenant’s possession of the Premises) may cancel such renewal or extension upon three(3) days prior written be given simultaneously with any notice of default given to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Omrix Biopharmaceuticals, Inc.)

TENANT’S DEFAULTS. A. If there is In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events shall constitute a default “Default” by Tenant: (a) The failure by Tenant under to make any payment of rent required to be made by Tenant, as and when due, where the failure continues for a period of 5 business days after written notice from Landlord to Tenant. For purposes of these default and remedies provisions, the term “additional rent” shall be deemed to include all amounts of any type whatsoever other than Basic Rent to be paid by Tenant pursuant to the terms of this Lease. (b) The assignment, sublease, encumbrance or other than Transfer of the obligation to pay Rent and Additional RentLease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or Tenant vacates other means, without the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , consent of Landlord unless otherwise authorized in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end Article 9 of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If (c) The discovery by Landlord that any financial statement provided by Tenant, or by any affiliate, successor or guarantor of Tenant, was materially false. (d) Except where a specific time period is otherwise set forth for Tenant’s performance in this Lease (In which event the failure to perform by Tenant within such time period shall be a Default), the failure or inability by Tenant to observe or perform any of the covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any other subsection of this Section 14.1, where the failure continues for a period of 30 days after written notice from Landlord to Tenant. However, if the nature of the failure is such that more than 30 days are reasonably required for its cure, then Tenant shall not be deemed to be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or Default if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (commences the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwisecure within 30 days, and dispossess thereafter diligently pursues the cure to completion. (e) Tenant or other occupantany Guarantor becomes insolvent, by any lawful mannermakes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its Inability to pay Its debts when due or forfeits or loses its right to conduct business. The notice periods provided herein are in lieu of, and remove their possessions not in addition to, any notice periods provided by law, and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for required to give any damage sustained additional notice under California Code of Civil Procedure Section 1161, or any successor statute, in order to the property of Tenant or other occupant. If their be entitled to commence an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantunlawful detainer proceeding.

Appears in 1 contract

Samples: Sublease (Medicinova Inc)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an “Event of Default” hereunder: (a) Tenant fails to pay when due any installment of Rent and such default shall continue for (x) five (5) Business Days in respect of Fixed Rent and recurring forms of Additional Rent payable pursuant to Article 7 above and (y) ten (10) Business Days in respect of all Rent which is a not Fixed Rent, in any case immediately following written notice of such default by is given to Tenant (b) Tenant under the terms fails to observe or perform any other term, covenant or condition of this Lease, other Lease and such failure continues for more than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15ten (10) days prior with respect to a default under Article 3) immediately following written notice by Landlord to Tenant which sets forth Tenant’s default(sof such default, or if such default (other than a default under Article 3) and should Tenant fail to is of a nature that it cannot be completely cure said specified default(s) remedied within said fifteen thirty (1530) days, or if the default(s), failure by its nature cannot be cured Tenant to commence to remedy such failure within said fifteen thirty (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (1530) days, then and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within one hundred eighty (180) days; or (c) if Landlord applies or retains any part of the security held by it hereunder, and Tenant fails within ten (10) Business Days after written notice by Landlord to Tenant to either (i) deposit with Landlord the amount of cash so applied by Landlord, or (ii) provide Landlord with (x) a replacement Letter of Credit (as hereinafter defined), in the full amount required hereunder (less any cash security held by Landlord), or (y) a modification of the Letter of Credit which reinstates the amount so applied; or (d) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) a court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such eventorder, judgment or decree shall not be vacated or set aside or stayed within ninety (90) days from the date of entry thereof. Upon the occurrence and during the continuance of any one or more of such Events of Default, Landlord may serve upon may, at its sole option, give to Tenant seven (7) Business Days’ written notice of cancellation of this Lease (or of Tenant’s possession of the Premises), a written five (5) day notice canceling in which event this Lease and the Term (or Tenant, at ’s possession of the end of said five Premises) shall terminate (5whether or not the Term shall have commenced) days with the same force and effect as if the date set forth in the notice were the Expiration Date stated herein; and Tenant shall vacate then quit and surrender the Office and Premises to Landlord, but Tenant shall continue to remain liable for damages as set forth under provided in this LeaseArticle 15. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Lease Agreement (2U, Inc.)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an “Event of Default” hereunder: (a) Tenant fails to pay when due any installment of Rent and such default shall continue for five (5) Business Days after notice of such default is given to Tenant except that if Landlord shall have given two such notices of default in the payment of any Rent in any 12-month period, Tenant shall not be entitled to any further notice of its delinquency in the payment of any Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the occurrence of any default in the payment of any Rent within such 12-month period after the giving of 2 such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, covenant or condition of this Lease and such failure continues for more than thirty (30) days after notice by Landlord to Tenant of such default, or if such default is of a default nature that it cannot be completely remedied within thirty (30) days, failure by Tenant under to commence to remedy such failure within said thirty (30) days, and thereafter diligently take all steps necessary to remedy such default, provided in all events the same is completed within ninety (90) days; or (c) if Landlord applies or retains any part of the security held by Landlord hereunder in accordance with the terms of this Lease, other than and Tenant fails to deposit with Landlord the obligation to pay Rent and Additional Rentamount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as hereinafter defined), if applicable, within five (5) Business Days after notice by Landlord to Tenant vacates stating the Office prior to the Termination Dateamount applied or retained; or (d) Tenant files a voluntary petition in bankruptcy or insolvency, or if is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an execution has been issued against assignment for the property benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) a court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant whereby the Office is used and/or occupied by someone other than bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or if this Lease be rejected in a Bankruptcy proceedingof the whole or any substantial part of its property, without the consent of Tenant, or should approving a petition filed against Tenant not take possession seeking reorganization or arrangement of Tenant under the bankruptcy laws of the Office with thirty United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within sixty (3060) days from the Possession Datedate of entry thereof; or (f) Guarantor generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due or is subject to the Landlordfiling of a petition, upon fifteen case or proceeding in bankruptcy; or (15g) days prior written notice to Tenant which sets forth the occurrence of a default under any guaranty of all or any portion of Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth liabilities under this Lease. B. If Tenant shall be in , which default in continues beyond the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment expiration of any other matter for which Tenant is liable to pay, then Landlord, without notice, applicable notice and/or cure period(s) (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of if any) set forth in such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantguaranty.

Appears in 1 contract

Samples: Lease Agreement (Convio, Inc.)

TENANT’S DEFAULTS. A. If there Each of the following events ----------------- shall be an "Event of Default" hereunder: (a) Tenant fails to pay when due any installment of Fixed Rent and such default shall continue for five (5) Business Days after notice of such default is a given to Tenant, or failure to pay when due of any other item of Rent and such default shall continue for seven (7) Business Days after notice of such default is given to Tenant, except that if Landlord shall have given two (2) such notices of default in the payment of any Rent in any twelve- (12-) month period, Tenant shall not be entitled to any further notice of its delinquency in the payment of any Rent or an extended period in which to make payment until such time as twelve (12) consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the occurrence of any default in the payment of any Rent within such twelve- (12-) month period after the giving of two (2) such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant under the terms and if such failure continues for more than twenty (20) days after notice by Landlord to Tenant of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Datesuch default, or if such default is of such a nature that it cannot be completely remedied within twenty (20) days, failure by Tenant to commence to remedy such failure within said twenty (20) days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided the same is completed within ninety (90) days or as soon thereafter as is commercially practicable unless Tenant's failure to cure such default within such ninety-(90-) day period would constitute a default under any Mortgage or Superior Lease; or (c) [Intentionally deleted] (d) Tenant's interest in this Lease shall devolve upon or pass to any person, whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof; or (e) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (f) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or (g) if, within sixty (60) days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within sixty (60) days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property, without the consent or acquiescence of Tenant, as the case may be, such appointment shall not have been vacated or otherwise discharged, or if any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant's property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Lease (Portal Software Inc)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior such default shall continue for 5 days after notice of such default is given to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or except that if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession Landlord shall have given two such notices of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of any Rent and/or Additional Rentin any 12-month period, or if Tenant shall not be entitled to any further notice of its delinquency in the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant is liable having failed to paymake any such payment when due, then Landlord, without notice, (and the occurrence of any default in the payment of any Rent within such 12-month period after the giving of notice is hereby expressly waived by Tenant)2 such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and Tenant shall such failure continues for more than 30 days (10 days with respect to a default under Article 3) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any part of the security held by it hereunder, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as hereinafter defined), if applicable, within 5 days after notice by Landlord to Tenant stating the amount applied or retained; or (d) Tenant defaults in the observance or performance of any term, covenant or condition and/or provision on Tenant’s part to be observed or performed under any other lease with Landlord or Landlord’s predecessor-in-interest for space in the Center and such default shall continue beyond any grace period set forth in such other lease for the remedying of such default; or (e) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (f) a court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within 60 days from the date of entry thereof. Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant 3 days’ notice of cancellation of this LeaseLease (or of Tenant’s possession of the Premises), Landlord in which event this Lease and the Term (or Tenant’s possession of the Premises) shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15. Any notice of cancellation of the Term (or Tenant’s possession of the Premises) may cancel such renewal or extension upon three(3) days prior written be given simultaneously with any notice of default given to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Xstelos Holdings, Inc.)

TENANT’S DEFAULTS. A. If there is In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events shall constitute a default “Default” by Tenant: (a) The failure by Tenant under to make any payment of Rent required to be made by Tenant, as and when due, where the failure continues for a period of 5 business days after written notice from Landlord to Tenant. The term “Rent” as used in this Lease shall be deemed to mean the Basic Rent and all other sums, including but not limited to parking charges, required to be paid by Tenant to Landlord pursuant to the terms of this Lease (b) The assignment, sublease, encumbrance or other than Transfer of the obligation to pay Rent and Additional RentLease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or Tenant vacates other means, without the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , consent of Landlord unless otherwise authorized in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end Article 9 of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If (c) The discovery by Landlord that any financial statement provided by Tenant, or by any affiliate, successor or guarantor of Tenant, was materially false. (d) Except where a specific time period is otherwise set forth for Tenant’s performance in this Lease (in which event the failure to perform by Tenant within such time period shall be a Default), the failure or inability by Tenant to observe or perform any of the covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any other subsection of this Section 14.1, where the failure continues for a period of 30 days after written notice from Landlord to Tenant. However, if the nature of the failure is such that more than 30 days are reasonably required for its cure, then Tenant shall not be deemed to be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or Default if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (commences the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwisecure within 30 days, and dispossess Tenant or other occupant, by any lawful mannerthereafter diligently pursues the cure to completion. The notice periods provided herein are in lieu of, and remove their possessions not in addition to, any notice periods provided by law, and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for required to give any damage sustained additional notice under California Code of Civil Procedure Section 1161, or any successor statute, in order to the property of Tenant or other occupant. If their be entitled to commence an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantunlawful detainer proceeding.

Appears in 1 contract

Samples: Lease (Capitol Investment Corp. V)

TENANT’S DEFAULTS. A. If there is a default by Tenant under the terms of this Lease, other than the t he obligation to pay Rent Ren t and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an a n execution has been b een issued against the property of Tenant or Tenant T enant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease Le ase be rejected in a Bankruptcy proceeding, or should Tenant not take ta ke possession of the Office with thirty (30) days day s from the Possession Poss ession Date, the Landlord, Landlord may notify Tenant of said default upon fifteen (151 5) days prior p rior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to t o completely cure said specified specifie d default(s) within said fifteen (1515 ) days, or if the default(s), by its nature cannot be cured cu red within said fifteen (1515 ) days or should Tenant fail to undertake with diligent dilig ent effort to cure the default(s) within said fifteen fi fteen (15) days, then , in such su ch event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain remai n liable as set forth under this Lease. B. If Tenant shall be in default in the th e payment of Rent and/or Additional Rent, or if the notice given g iven pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the OfficeOffi ce, by force or otherwiseothe rwise, and dispossess dispo ssess Tenant or other occupanto ccupant, by any lawful mannermanne r, and remove their possessions and retake the Office. Tenant Te nant expressly waives the right ri ght to receive re ceive notice of such re- entry by Landlord Xxxxxxxx and agrees that Landlord shall not be responsible for any damage dama ge sustained to the property prope rty of Tenant or other occupant. If their be an extension extensi on or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this thi s Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Office Lease

TENANT’S DEFAULTS. A. If there is a default by Tenant under the terms of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then then, in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- re-enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- re-entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3three (3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Fah Mai Holdings, Inc.)

TENANT’S DEFAULTS. A. The following shall be deemed to be defaults hereunder: (a) If there is Tenant shall fail to pay the Fixed Rent or any monthly estimated installments of its share of the Operating Expenses when due hereunder and such failure continues for more than 7 days after written notice from Landlord designating such failure (provided if Landlord gives such written notice more than 2 times in any 12-month period, no such written notice shall thereafter be required, and thereafter the failure to make such payment within seven days of the due date, without notice, shall constitute a default by hereunder); or if Tenant under the terms of this Lease, other than the obligation fails to pay Rent any other additional rent or other charges provided for hereunder and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other such failure continues for more than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) 7 days from the Possession Date, the Landlord, upon fifteen (15) days prior after written notice form Landlord designated such failure; or (b) If Tenant shall fail to comply with any other obligation or covenant hereunder and such failure continues for more than 30 days after written notice from Landlord to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) daysspecifying such failure; provided, or if the default(s), such failure by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) 30 days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in given such additional time as is reasonably necessary, not to exceed 60 days, provided Tenant has commenced diligently to correct said failure and thereafter diligently pursued such correction to completion; or (c) If Tenant makes any assignment for the payment benefit of Rent and/or Additional Rentcreditors, commits any act of bankruptcy or files a petition under any bankruptcy or insolvency law; if a petition is filed against Tenant or any guarantor and is not dismissed within 60 days; if a receiver or similar officer becomes entitled to Tenant's leasehold hereunder and is not returned to Tenant within 60 days; or if the notice given pursuant to “A” hereinabove has expired such leasehold is taken from Tenant on execution or if other process of law in any action; or (d) If Tenant is a corporation, its failure to remain a corporation in default good standing and qualified to do business in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to TenantMassachusetts.

Appears in 1 contract

Samples: Sublease Agreement (Mothernature Com Inc)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said default shall continue for five (5) days after notice of such default is given to Tenant except that if Landlord shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in have given 3 such notices of default in the payment of any Rent and/or Additional Rentin any 12-month period, or if Tenant shall not be entitled to any further notice of its delinquency in the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant is liable having failed to paymake any such payment when due, then Landlord, without notice, (and the occurrence of any default in the payment of any Rent within such 12-month period after the giving of notice is hereby expressly waived by Tenant)3 such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and such failure continues for more than 30 days (10 days with respect to a default under Article 3) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any part of the Security Deposit, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as hereinafter defined), if applicable, within 5 days after notice by Landlord to Tenant stating the amount applied or retained; or (d) there shall occur or exist any default under any term, condition and/or provision guaranty of this Lease, which default is not cured within any applicable notice and/or cure period set forth in such guaranty. Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant notice of cancellation of this Lease (or of Tenant’s possession of the Premises), in which event this Lease and the Term (or Tenant’s possession of the Premises) shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15. Any notice of cancellation of the Term (or Tenant’s possession of the Premises) may cancel such renewal or extension upon three(3) days prior written be given simultaneously with any notice of default given to Tenant.

Appears in 1 contract

Samples: Sublease Agreement (K12 Inc)

TENANT’S DEFAULTS. A. If there is a The following shall be deemed to be acts of default by Tenant under this Lease: A. Tenant shall fail, neglect or refuse to pay any installment of fixed minimum rent, additional rent, percentage rent or any other charge including, without limitation, penalty charges, required to be paid by Tenant hereunder at the time and in the amount as herein provided, or pay any moneys agreed by it to be paid promptly when and as the same shall become due and payable under the terms hereof and such default shall continue for a period of more than 3 days after notice thereof in writing given to Tenant by Lessor. B. Tenant shall fail, neglect or refuse to keep and perform any of the other covenants, conditions, stipulations or agreements herein contained and covenanted and agreed to be kept and performed by Tenant and such default shall continue for a period of more than 15 days after notice thereof in writing given to Tenant by Lessor; provided, however, that if the cause for giving such notice involves the making of repairs or other matters reasonably requiring a longer period of time than the period of such notice, Tenant shall be deemed to have complied with such notice if Tenant has commenced and is diligently prosecuting compliance therewith. C. Any attachment or levy of execution or similar seizure of the Demised Premises or Tenant’s merchandise, fixtures or other property at the Demised Premises or any foreclosure, repossession, or sale under any chattel mortgage, security agreement or conditional sales contract covering Tenant’s merchandise, fixtures or other property at the Demised Premises; or the filing of any petition by or against Tenant under any chapter of the Bankruptcy Act, or the adjudication of Tenant as a bankrupt or insolvent; or the appointment of a receiver or trustee to take possession of all or substantially all of the assets of Tenant or a general assignment by Tenant for the benefit of creditors; or any other action taken or suffered by Tenant under any State or Federal insolvency or bankruptcy act and the continuation thereof for more than 120 days. Neither this Lease nor any interest herein nor any estate created hereby shall pass by operation of law under any State or Federal insolvency or bankruptcy act to any trustee, receiver, assignee for the benefit of creditors or any other person whatsoever without the prior written consent of Lessor. In the event of an act of default by Tenant, Lessor may, at its option: (1) Terminate Tenant’s right to possession of the Demised Premises because of such breach and recover from Tenant all damages allowed under Section 1951.2 of the California Civil Code, including, without limitation, the worth at the time of the award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided, or; (2) Not terminate Tenant’s right to possession because of such breach, but continue this Lease in full force and effect; and in that event (a) Lessor may enforce all rights and remedies under this Lease, including the right to recover all attorney’s fees and costs incurred by Landlord by reason of Tenant’s breach hereunder, the rent and all other than the obligation to pay Rent charges due hereunder as such rent and Additional Rentother charges become due, or and (b) Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if may assign its interest in this Lease be rejected with Lessor’s prior written consent; (3) Declare a forfeiture of the lease and terminate all of Tenant’s rights in accordance with such forfeiture. In the event of any reentry, Lessor may remove all persons from the Demised Premises and all property and any signs located in or about the Demised Premises and place such property in storage in a Bankruptcy proceedingpublic warehouse at the cost and risk of Tenant. No reentry or reletting of the Demised Premises of any nature served under unlawful detainer action or the filing of any unlawful detainer or similar action shall be construed as an election by Lessor to Cuyamaca Bank/La Mesa Lease Initial Standard Shopping Center Lease Initial 28731-6/1822140.2 [Word] 01/30/03 terminate this Lease unless a written notice of such intention is given by Lessor to Tenant; and notwithstanding any such reletting with such termination, Lessor may at any time thereafter elect to terminate this Lease. Except in the case of Lessor’s willful misconduct, Tenant hereby waives all claims or should Tenant not take demands for damages that may be caused by Lessor in reentering and taking possession of the Office with thirty (30) days Demised Premises as hereinabove provided and all claims or demands for damages which may result from the Possession Datedestruction of or injury to the Demised Premises and all claims or demands for damages or loss of property belonging to Tenant or to any other person or firm that may be in or about the Demised Premises at the time of such reentry. The rights, privileges, elections and remedies of Landlord in this Paragraph 19 are cumulative and not alternative. Nothing contained in this Lease shall limit Landlord to the remedies set forth in this Paragraph 19, and upon Tenant’s default Landlord shall be entitled to exercise any right or remedy then provided by law, including, but not limited to, the Landlord, upon fifteen (15) days prior written notice right to Tenant which sets forth obtain injunctive relief and the right to recover all damages caused by Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if default in the default(s), by performance of any of its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth obligations under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Standard Shopping Center Lease (Community Bancorp Inc)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If provided that Tenant shall be in default in entitled to a grace period before such failure to pay shall constitute an Event of Default of three (3) Business Days after written notice by Landlord to Tenant that such amount is past due for the first late payment of Rent and/or Additional Rent, during any twelve (12) month period); or (b) Tenant fails to observe or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of perform any other matter for which Tenant is liable to payterm, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and Tenant shall such failure continues for more than 30 days (10 days with respect to a default under Article 3, Article 9 or Section 26.10) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3, Article 9 or Section 26.10) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any termpart of the security held by it hereunder, condition and/or provision and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, within 5 days after notice by Landlord to Tenant stating the amount applied, retained or drawn, as applicable; or (d) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of this Leasecreditors or seeks or consents to or acquiesces in the appointment of any trustee, Landlord may cancel receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such renewal order, judgment or extension upon three(3) decree shall not be vacated or set aside or stayed within 60 days prior written from the date of entry thereof. The notice to Tenantperiods provided herein are in lieu of, and not in addition to, any notice periods provided by law.

Appears in 1 contract

Samples: Lease Agreement (E2open Inc)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any payment of Rent within five (5) Business Days following delivery to Tenant of written notice that such payment was not received when due; provided however, that Landlord shall not be obligated to deliver such written notice more than twice in any twelve-month period and Additional upon the third such occurrence in any twelve (12) month period Tenant shall be in default if it fails to pay when due any payment of Rent, or ; or (b) Tenant vacates the Office prior fails to the Termination Date, or if an execution has been issued against the property pay when due any Tenant’s Progress Payment within five (5) Business Days following delivery to Tenant of written notice that such payment was not received when due; (c) Tenant or any Tenant whereby Party causes a release of Hazardous Materials in violation of any applicable Environmental Law or a release that requires the Office performance of a response action pursuant to any Environmental Law, and such response action is used and/or occupied not completed by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with date which is thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written after notice by Landlord to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) thereof, or if such response action is of a nature that it cannot be completed within said fifteen thirty (1530) days, failure by Tenant to commence to such response action within said thirty (30) days, and thereafter diligently prosecute to completion all steps necessary to such response action as soon as practicable thereafter; or (d) Xxxxxx fails to observe or perform any other term, covenant or condition of this Lease and such failure continues for more than thirty (30) days (ten (10) days with respect to a default under Article 3) after notice by Landlord to Tenant of such default, or if the default(s), by its such default (other than a default under Article 3) is of a nature that it cannot be cured completely remedied within said fifteen thirty (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (1530) days, then failure by Tenant to commence to remedy such failure within said thirty (30) days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within ninety (90) days; or (e) Tenant fails to timely provide or maintain a Letter of Credit in the then-applicable Letter of Credit Amount, in such eventaccordance with the provisions of Article 28, or if Landlord may serve upon Tenantdraws on the Letter of Credit, and Xxxxxx fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a written five replacement Letter of Credit (5) day notice canceling this Lease and Tenantas hereinafter defined), at the end of said if applicable, within five (5) days shall vacate and surrender after notice by Landlord to Tenant stating the Office and amount applied or retained; or (f) Tenant shall continue files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief, or makes an assignment for the benefit of creditors or seeks or consents to remain liable as set forth under this Lease. B. If Tenant shall be in default or acquiesces in the payment appointment of Rent and/or Additional Rentany trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (g) a court of competent jurisdiction shall enter an order, judgment or decree appointing a trustee, receiver or liquidator of Tenant, or if of the notice given pursuant to “A” hereinabove has expired whole or if any substantial part of its property, or approving a petition filed against Tenant is seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in default in payment effect or hereafter amended, or any state thereof; and such order, judgment or decree shall not be vacated or set aside or stayed within sixty (60) days from the date of entry thereof. Upon the occurrence of any one or more of such Events of Default, Landlord may, in addition to all other matter for which Tenant is liable to payremedies available at law or in equity, then Landlord, without noticeat its sole option, (the giving i) immediately, or at any time after such Event of notice is hereby expressly waived by Tenant)Default, may re- in accordance with all applicable Requirements, re-enter the OfficePremises or any part thereof, by force or otherwisein the name of the whole and repossess the same as of Landlord’s former estate, and dispossess Tenant and any other persons or other occupant, by any lawful manner, entities from the Premises and remove any and all of their possessions property and retake effects from the Office. Premises, without being deemed guilty of any manner of trespass and without prejudice to any other rights or remedies, and/or (ii) give to Tenant expressly waives the right to receive three (3) days’ notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision cancellation of this Lease, Landlord in which event this Lease and the Term shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein, and Xxxxxx shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15. Any notice of cancellation of the Term may cancel such renewal or extension upon three(3) days prior written be given simultaneously with any notice of default given to Tenant.

Appears in 1 contract

Samples: Lease Agreement (CRISPR Therapeutics AG)

TENANT’S DEFAULTS. A. If there is In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events shall constitute a default “Default” by Tenant: (a) The failure by Tenant under to make any payment of rent required to be made by Tenant, as and when due, where the failure continues for a period of 5 business days after written notice from Landlord to Tenant. For purposes of these default and remedies provisions, the term “additional rent” shall be deemed to include all amounts of any type whatsoever other than Basic Rent to be paid by Tenant pursuant to the terms of this Lease. (b) The assignment, sublease, encumbrance or other than Transfer of the obligation to pay Rent and Additional RentLease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or Tenant vacates other means, without the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , consent of Landlord unless otherwise authorized in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end Article 9 of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If (c) The discovery by Landlord that any financial statement provided by Tenant, or by any affiliate, successor or guarantor of Tenant, was materially false. (d) The failure by Tenant to deliver the estoppel certificate required by the provisions of Section 13.2 of this Lease, the current annual financial statements required by Section 22.2 of this Lease, or the subordination and attornment agreement required by the provisions of Section 13.1 of this Lease, where such failure continues for a period of 10 business days after written notice from Landlord to Tenant. (e) The failure or inability by Tenant to observe or perform any of the covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any other subsection of this Section 14.1, where the failure continues for a period of 30 days after written notice from Landlord to Tenant. However, if the nature of the failure is such that more than 30 days are reasonably required for its cure, then Tenant shall not be deemed to be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or Default if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (commences the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwisecure within 30 days, and dispossess thereafter diligently pursues the cure to completion. (f) Tenant or other occupantany Guarantor becomes insolvent, by any lawful mannermakes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business. The notice periods provided herein are in lieu of, and remove their possessions not in addition to, any notice periods provided by law, and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for required to give any damage sustained additional notice under California Code of Civil Procedure Section 1161, or any successor statute, in order to the property of Tenant or other occupant. If their be entitled to commence an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantunlawful detainer proceeding.

Appears in 1 contract

Samples: Lease (Boot Barn Holdings, Inc.)

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TENANT’S DEFAULTS. A. If there Each of the following events shall ----------------- be an "Event of Default" hereunder: (a) Tenant fails to pay when due any installment of Fixed Rent and such default shall continue for five (5) Business Days after notice of such default is a given to Tenant, or failure to pay when due of any other item of Rent and such default shall continue for seven (7) Business Days after notice of such default is given to Tenant, except that if Landlord shall have given two (2) such notices of default in the payment of any Rent in any twelve- (12-) month period, Tenant shall not be entitled to any further notice of its delinquency in the payment of any Rent or an extended period in which to make payment until such time as twelve (12) consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the occurrence of any default in the payment of any Rent within such twelve- (12-) month period after the giving of two (2) such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant under the terms and if such failure continues for more than twenty (20) days after notice by Landlord to Tenant of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Datesuch default, or if such default is of such a nature that it cannot be completely remedied within twenty (20) days, failure by Tenant to commence to remedy such failure within said twenty (20) days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided the same is completed within ninety (90) days or as soon thereafter as is commercially practicable unless Tenant's failure to cure such default within such ninety-(90-) day period would constitute a default under any Mortgage or Superior Lease; or (c) [Intentionally deleted]; or (d) Tenant's interest in this Lease shall devolve upon or pass to any person, whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof; or (e) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (f) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or (g) if, within sixty (60) days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within sixty (60) days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property, without the consent or acquiescence of Tenant, as the case may be, such appointment shall not have been vacated or otherwise discharged, or if any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant's property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Lease (Portal Software Inc)

TENANT’S DEFAULTS. A. If there is a Each of the following events shall be an “Event of Default” hereunder: (a) Tenant fails to pay when due any payment of Rent within five (5) days following delivery to Tenant of written notice that such payment was not received when due; provided however, that Landlord shall not be obligated to deliver such written notice more than twice in any twelve-month period and upon the third such occurrence in any twelve (12) month period Tenant shall be in default by if it fails to pay when due any payment of Rent; or (b) Tenant under the terms fails to observe or perform any other term, covenant or condition of this Lease, other Lease and such failure continues for more than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15ten (10) days prior written with respect to a default under Article 3) after notice by Landlord to Tenant which sets forth Tenant’s default(sof such default, or if such default (other than a default under Article 3) and should Tenant fail to is of a nature that it cannot be completely cure said specified default(s) remedied within said fifteen thirty (1530) days, or if the default(s), failure by its nature cannot be cured Tenant to commence to remedy such failure within said fifteen thirty (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (1530) days, then and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in such eventall events the same is completed within ninety (90) days; or (c) if Landlord applies or retains any part of the security deposit or Letter of Credit (as hereinafter defined) held by it hereunder, and Tenant fails to deposit with Landlord may serve upon Tenantthe amount so applied or retained by Landlord, or to provide Landlord with a written five (5) day notice canceling this Lease and Tenantreplacement Letter of Credit, at the end of said if applicable, within five (5) days shall vacate and surrender after notice by Landlord to Tenant stating the Office and Tenant shall continue to remain liable as set forth under this Lease.amount applied or retained; B. (d) If Tenant files a voluntary petition in bankruptcy or insolvency, or is the subject of an involuntary petition in bankruptcy which is not dismissed within sixty (60) days after filing thereof, or is adjudicated a bankrupt; or if a receiver is appointed for Tenant's property and such receiver is not removed within sixty (60) days after appointment thereof, or if, whether voluntarily or involuntarily, Tenant takes advantage of any debtor relief proceedings under any present or future laws, whereby the Rent or any part thereof, is, or is proposed to be, reduced or payment thereof deferred; or (e) a court of competent jurisdiction shall enter an order, judgment or decree appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof; and such order, judgment or decree shall not be vacated or set aside or stayed within sixty (60) days from the date of entry thereof. Upon the occurrence of any one or more of such Events of Default, Landlord may, in default addition to all other remedies available at law or in equity, in its sole discretion, (i) immediately, or at any time after such Event of Default, without additional notice, re-enter the Premises or any part thereof, in the payment name of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment whole and repossess the same as of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise’s former estate, and dispossess Tenant and any other persons or other occupant, by any lawful manner, entities from the Premises and remove any and all of their possessions property and retake effects from the Office. Premises, without being deemed guilty of any manner of trespass and without prejudice to any other rights or remedies, and/or (ii) give to Tenant expressly waives the right to receive three (3) days’ notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision cancellation of this Lease, Landlord in which event this Lease and the Term shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein, and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15. Any notice of cancellation of the Term may cancel such renewal or extension upon three(3) days prior written be given simultaneously with any notice of an Event of Default given to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Centessa Pharmaceuticals PLC)

TENANT’S DEFAULTS. A. If there is a default by Tenant under the terms of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their there be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3three (3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Office Lease (Nano Nuclear Energy Inc.)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said default shall continue for five (5) days shall vacate and surrender the Office and after notice of such default is given to Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall (which notice may be in the form of an Illinois Statutory 5-day notice utilized in forcible entry and detainer proceedings), except that if Landlord shall have given two such notices of default in the payment of any Rent and/or Additional Rentin any 12-month period, or if Tenant shall not be entitled to any further notice of its delinquency in the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant is liable having failed to paymake any such payment when due, then Landlord, without notice, (and the occurrence of any default in the payment of any Rent within such 12-month period after the giving of notice is hereby expressly waived by Tenant)2 such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and such failure continues for more than 30 days (10 days with respect to a default under Article 3, Article 9 or Section 26.10) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3, Article 9 or Section 26.10) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any part of the security held by it hereunder, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or if Landlord draws on any Letter of Credit (as hereinafter defined), in part or in whole, and Tenant fails to provide Landlord with a replacement Letter of Credit, within 5 days after notice by Landlord to Tenant stating the amount applied, retained or drawn, as applicable; or (d) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within 60 days from the date of entry thereof. Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant notice of cancellation of this Lease (or of Tenant’s possession of the Premises), in which event this Lease and the Term (or Tenant’s possession of the Premises) shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15. Any notice of cancellation of the Term (or Tenant’s possession of the Premises) may be given simultaneously with any notice of default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice given to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Affirmative Insurance Holdings Inc)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior such default shall continue for 5 Business Days after written notice of such default is given to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or except that if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in Landlord shall have given two such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end notices of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of any Rent and/or Additional Rentin any 12-month period, or if Tenant shall not be entitled to any further notice of its delinquency in the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant is liable having failed to paymake any such payment when due, then Landlord, without notice, (and the occurrence of any default in the payment of any Rent within such 12-month period after the giving of notice is hereby expressly waived by Tenant)2 such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and such failure continues for more than 30 days after notice by Landlord to Tenant of such default, or if such default is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any part of the Security Deposit, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as hereinafter defined), if applicable, within 10 Business Days after notice by Landlord to Tenant stating the amount applied or retained; or Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant notice of cancellation of this Lease (or of Tenant’s possession of the Premises), in which event this Lease and the Term (or Tenant’s possession of the Premises) shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15. Any notice of cancellation of the Term (or Tenant’s possession of the Premises) may be given simultaneously with any notice of default given to Tenant; provided the same shall not limit Tenant’s cure rights under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.

Appears in 1 contract

Samples: Sublease (K12 Inc)

TENANT’S DEFAULTS. A. If there is In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events shall constitute a default “Default” by Tenant: (a) The failure by Tenant under to make any payment of rent required to be made by Tenant, as and when due, where the failure continues for a period of 3 days after written notice from Landlord to Tenant. For purposes of these default and remedies provisions, the term “additional rent” shall be deemed to include all amounts of any type whatsoever other than Basic Rent to be paid by Tenant pursuant to the terms of this Lease. (b) The assignment, sublease, encumbrance or other than Transfer of the obligation to pay Rent and Additional RentLease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or Tenant vacates other means, without the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , consent of Landlord unless otherwise authorized in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end Article 9 of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If (c) The discovery by Landlord that any financial statement provided by Tenant, or by any affiliate, successor or guarantor of Tenant, was intentionally and materially false. (d) Except where a specific time period is otherwise set forth for Tenant’s performance in this Lease (in which event the failure to perform by Tenant within such time period shall be a Default), the failure or inability by Tenant to observe or perform any of the covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any other subsection of this Section 14.1, where the failure continues for a period of 30 days after written notice from Landlord to Tenant. However, if the nature of the failure is such that more than 30 days are reasonably required for its cure, then Tenant shall not be deemed to be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or Default if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (commences the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwisecure within 30 days, and dispossess thereafter diligently pursues the cure to completion. (e) Tenant or other occupantany Guarantor becomes insolvent, by any lawful mannermakes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business. The notice periods provided herein are in lieu of, and remove their possessions not in addition to, any notice periods provided by law, and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for required to give any damage sustained additional notice under California Code of Civil Procedure Section 1161, or any successor statute, in order to the property of Tenant or other occupant. If their be entitled to commence an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantunlawful detainer proceeding.

Appears in 1 contract

Samples: Lease (Meade Instruments Corp)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said default shall continue for five (5) days shall vacate and surrender the Office and after notice of such default is given to Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall (which notice may be in the form of an Illinois Statutory 5-day notice utilized in Forcible Entry and Detainer Proceedings), except that if Landlord shall have given two such notices of default in the payment of any Rent and/or Additional Rentin any 12-month period, or if Tenant shall not be entitled to any further notice of its delinquency in the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant is liable having failed to paymake any such payment when due, then Landlord, without notice, (and the occurrence of any default in the payment of any Rent within such 12-month period after the giving of notice is hereby expressly waived by Tenant)2 such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and such failure continues for more than 30 days (10 days with respect to a default under Article 3) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default; or (c) if Landlord applies or retains any part of the security held by it hereunder, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as hereinafter defined), if applicable, within 5 days after notice by Landlord to Tenant stating the amount applied or retained; or (d) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within 60 days from the date of entry thereof Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant notice of cancellation of this Lease (or of Tenant’s possession of the Premises), in which event this Lease and the Term (or Tenant’s possession of the Premises) shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this Article 15. Any notice of cancellation of the Term (or Tenant’s possession of the Premises) may be given simultaneously with any notice of default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice given to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Durata Therapeutics, Inc.)

TENANT’S DEFAULTS. A. If there is a Tenant shall be deemed to be in default by hereunder if: (i) Tenant fails to pay the Rent or other charges on or before the date on which the same become due and payable to Landlord under and in accordance with the terms of this Lease, and such failure continues for fifteen (15) days after written notice from Landlord thereof; or (ii) Tenant fails to perform or observe any other than the obligation to pay Rent and Additional Rent, term or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if condition contained in this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with within thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior after written notice to Tenant which sets forth Tenant’s default(s) from Landlord thereof. In any of such events, Landlord may, immediately or at any time thereafter, and should Tenant fail to completely cure said specified default(s) within said fifteen (15) dayswithout demand or notice, enter into and upon the Premises, or if any part thereof, and repossess the default(s)same, by its nature cannot and expel Tenant and those claiming through or under Tenant and remove Tenant's effects, all without force or breach of the peace, and without prejudice to any remedies which might otherwise be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) dayspermitted for default under this Lease, then , in such eventand upon entry as aforesaid, Landlord may serve upon Tenant, a written five either (5a) day notice canceling terminate this Lease and Tenant, in which event Landlord shall be entitled to recover from Tenant the unpaid rent which has been earned at the end time of said five (5) days shall vacate and surrender termination, plus the Office and Tenant shall continue amount by which the unpaid rent which would have been earned for the balance of the term exceeds the amount such rental loss that the Lessee proves could have been reasonably avoided, plus any other amount necessary to remain liable as set forth compensate Landlord for all the determent approximately caused by Tenant's failure to perform its obligations under this Lease. B. If Tenant ; or (b) without terminating this Lease, make such alterations and relet the Premises or any part thereof for such term or terms and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion my deem advisable, and all rentals received by Landlord from such reletting shall be in default in applied to the payment of Rent and/or Additional Rentany indebtedness other than rent due hereunder from Tenant to Landlord, or if second, to the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which cost or expense of such reletting, and third, to the payment of rent due and unpaid hereunder, and being understood that if such rentals received from such reletting during any month be less than that to be paid during that month by Tenant is liable hereunder, Tenant shall pay any such deficiency to pay, then Landlord, the same calculated and paid monthly notwithstanding any such reletting without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Leasetermination, Landlord may cancel at any time thereafter elect to terminate this Lease for such renewal prior material default or extension upon three(3) days prior written notice to Tenantbreach.

Appears in 1 contract

Samples: Lease Agreement (Petro Stopping Centers L P)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an "Event of Default" hereunder: (a) Tenant fails to pay when due any installment of Fixed Rent or Additional Rent and such default continues for five Business Days after notice of such default is a given to Tenant, except that if Landlord shall have given two such notices of default in the payment of any Rent in any twelve month period, Tenant shall not be entitled to any further notice of delinquency in the payment of any Rent or an extended period in which to make payment until such time as twelve consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the occurrence of any default in the payment of any Rent within such twelve month period after the giving of two such notices shall constitute an Event of Default; or (b) Tenant defaults in the observance or performance of any other term, covenant or condition of this Lease to be observed or performed by Tenant and such default continues for more than 10 days after notice by Landlord to Tenant of such default; or if such default is of such a nature that it can be remedied but cannot be completely remedied within 10 days, Tenant fails to commence to remedy such default within 10 days after such notice or, with respect to any such default, Tenant, having commenced such remedy within 10 days after such notice, fails to diligently prosecute to completion all steps necessary to remedy such default or Tenant fails to complete such remedy within 90 days; or (c) Tenant defaults in the observance or performance of any term, covenant or condition on Tenant's part to be observed or performed under any other lease with Landlord or Landlord's predecessor-in-interest for space in the Building and such default shall continue beyond any grace period set forth in such other lease for the remedying of such default; or (d) Tenant's interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof; or (e) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (f) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or (g) if, within 60 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the terms of this Leasepresent or any future federal bankruptcy act or any other present or future applicable federal, state or other than the obligation to pay Rent and Additional Rentstatute or law, such proceeding shall not have been dismissed, or if, within 60 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant vacates or for all or any part of Tenant's property, without the Office prior to the Termination Dateconsent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or if an any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant's property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or (h) if Landlord applies or retains any part of the Security Deposit, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as defined in Section 35.2), if this Lease be rejected in a Bankruptcy proceedingapplicable, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written within 5 Business Days after notice by Landlord to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, stating the amount applied or if retained. Upon the default(s), by its nature cannot be cured within said fifteen (15) days occurrence of anyone or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in more of such eventEvents of Default, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenantmay, at the end of said five (5) days shall vacate and surrender the Office and its sole option, give to Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive three days' notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision cancellation of this Lease, Landlord may cancel in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such renewal or extension upon three(3) days prior written three day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to TenantLandlord, but Tenant shall remain liable for damages as provided in Article 19 hereof.

Appears in 1 contract

Samples: Lease (Greenhill & Co Inc)

TENANT’S DEFAULTS. A. If there is In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events shall constitute a default “Default” by Tenant: (a) The failure by Tenant under to make any payment of rent required to be made by Tenant, as and when due, where the failure continues for a period of 5 business days after written notice from Landlord to Tenant. For purposes of these default and remedies provisions, the term “additional rent” shall be deemed to include all amounts of any type whatsoever other than Basic Rent to be paid by Tenant pursuant to the terms of this Lease. (b) The assignment, sublease, encumbrance or other than Transfer of the obligation to pay Rent and Additional RentLease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or Tenant vacates other means, without the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , consent of Landlord unless otherwise authorized in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end Article 9 of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If (c) The discovery by Landlord that any financial statement provided by Tenant, or by any affiliate, successor or guarantor of Tenant, was materially false. (d) Except where a specific time period is otherwise set forth for Tenant’s performance in this Lease (in which event the failure to perform by Tenant within such time period shall be a Default), the failure or inability by Tenant to observe or perform any of the covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any other subsection of this Section 14.1(d),where the failure continues for a period of 30 days after written notice from Landlord to Tenant. However, if the nature of the failure is such that more than 30 days are reasonably required for its cure, then Tenant shall not be deemed to be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or Default if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (commences the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwisecure within 30 days, and dispossess thereafter diligently pursues the cure to completion. (e) Tenant or other occupantany Guarantor becomes insolvent, by any lawful mannermakes a transfer in fraud of creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business. The notice periods provided herein are in lieu of, and remove their possessions not in addition to, any notice periods provided by law, and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for required to give any damage sustained additional notice under California Code of Civil Procedure Section 1161, or any successor statute, in order to the property of Tenant or other occupant. If their be entitled to commence an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantunlawful detainer proceeding.

Appears in 1 contract

Samples: Lease Agreement (Synovis Life Technologies Inc)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written failure continues for five (5) day Business Days after written notice canceling this Lease and thereof from Landlord to Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees except that Landlord shall not only be responsible for required to give one such notice in any damage sustained calendar year, and after any such notice is given any failure by Tenant in such calendar year to pay any Rent due hereunder when due shall itself constitute an Event of Default, without the property requirement of notice from Landlord of such failure; or (b) Tenant fails to observe or perform any other occupant. If their be an extension term, covenant or renewal condition of this Lease and Tenant shall such failure continues for more than 30 days (10 days with respect to a default under Article 3, Article 9 or Section 26.10) after notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3, Article 9 or Section 26.10) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days; or (c) if Landlord applies or retains any termpart of the Security Deposit held by it hereunder, condition and/or provision and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or if Landlord draws on any Letter of Credit (as hereinafter defined) required hereunder, in part or in whole, and Tenant fails to provide Landlord with a replacement Letter of Credit, within 5 Business Days after notice by Landlord to Tenant stating the amount applied, retained or drawn, as applicable; or (d) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within 60 days from the date of entry thereof. or (f) If Guarantor shall fail to perform any of the obligations when due under the Guaranty of Lease from the Guarantor in favor of Landlord, guarantying the payment and performance by Tenant of its obligations under this Lease; or (g) Guarantor generally does not, Landlord may cancel such renewal or extension upon three(3) days prior written is unable to, or admits in writing its inability to, pay its debts as they become due or is subject to the filing of a petition, case or proceeding in bankruptcy. The notice to Tenantperiods provided herein are in lieu of, and not in addition to, any notice periods provided by law.

Appears in 1 contract

Samples: Lease Agreement (Inphi Corp)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an "Event of Default" hereunder: (a) Tenant fails to pay when due any installment of Fixed Rent or Additional Rent and such default continues for five Business Days after notice of such default is a given to Tenant, except that if Landlord shall have given two such notices of default in the payment of any Rent in any twelve month period, Tenant shall not be entitled to any further notice of delinquency in the payment of any Rent or an extended period in which to make payment until such time as twelve consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the occurrence of any default in the payment of any Rent within such twelve month period after the giving of two such notices shall constitute an Event of Default; or (b) Tenant defaults in the observance or performance of any other term, covenant or condition of this Lease to be observed or performed by Tenant and such default continues for more than 20 days after notice by Landlord to Tenant of such default; or if such default is of such a nature that it can be remedied but cannot be completely remedied within 20 days, Tenant fails to commence to remedy such default within 20 days after such notice or, with respect to any such default, Tenant, having commenced such remedy within 20 days after such notice, fails to diligently prosecute to completion all steps necessary to remedy such default or Tenant fails to complete such remedy within 90 days; or (c) Tenant defaults in the observance or performance of any term, covenant or condition on Tenant's part to be observed or performed under any other lease with Landlord or Landlord's predecessor-in-interest for space in the Building and such default shall continue beyond any grace period set forth in such other lease for the remedying of such default; or (d) Tenant's interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof; or (e) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (f) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or (g) if, within 60 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the terms of this Leasepresent or any future federal bankruptcy act or any other present or future applicable federal, state or other than the obligation to pay Rent and Additional Rentstatute or law, such proceeding shall not have been dismissed, or if, within 60 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant vacates or for all or any part of Tenant's property, without the Office prior to the Termination Dateconsent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or if an any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant's property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or (h) if Landlord applies or retains any part of the Security Deposit, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as defined in Section 35.2), if this Lease be rejected in a Bankruptcy proceedingapplicable, or should Tenant not take possession of the Office with thirty (30) within 5 days from the Possession Date, the Landlord, upon fifteen (15) days prior written after notice by Landlord to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, stating the amount applied or if retained. Upon the default(s), by its nature cannot be cured within said fifteen (15) days occurrence of any one or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in more of such eventEvents of Default, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenantmay, at the end of said five (5) days shall vacate and surrender the Office and its sole option, give to Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive three days' notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision cancellation of this Lease, Landlord may cancel in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such renewal or extension upon three(3) days prior written three day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to TenantLandlord, but Tenant shall remain liable for damages as provided in Article 19 hereof.

Appears in 1 contract

Samples: Lease (Greenhill & Co Inc)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an "Event of Default" hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Fixed Rent or Additional Rent and such default continues for 5 days after Landlord's notice of such default is given to Tenant; provided, however, that if Tenant shall default in the timely payment of Fixed Rent or Additional Rent 2 times in any period of 12 months, then, notwithstanding that such defaults shall have each been cured within the applicable period provided above, upon any further default in the timely payment of Fixed Rent or Additional Rent, Landlord may serve a 3 days' notice of termination upon Tenant without affording to Tenant an opportunity to cure such further default; or (b) Tenant defaults in observing or performing the provisions of Section 3.1(a), and such default continues for 24 hours after notice; or (c) if Landlord applies or retains any part of the Security Deposit, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as defined in Section 34.2), if applicable, within 5 days after notice by Landlord to Tenant stating the amount applied or retained; or (d) Tenant defaults in the observance or performance of any other term, covenant or condition of this Lease to be observed or performed by Tenant and such default continues for more than 15 days after notice by Landlord to Tenant of such default; or if such default is of such a nature that it can be remedied but cannot be completely remedied within 15 days, Tenant fails to commence to remedy such default within 15 days after such notice; or, with respect to any such default, Tenant, having commenced such remedy within 15 days after such notice, fails to diligently prosecute to completion all steps necessary to remedy such default, or Tenant vacates fails to complete such remedy within 90 days; or (e) Tenant defaults in the Office prior observance or performance of any term, covenant or condition on Tenant's part to be observed or performed under any other lease with Landlord or Landlord's predecessor-in-interest for space in the Termination DateCenter, and such default shall continue beyond any grace period set forth in such other lease for the remedying of such default; or (f) Tenant's interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 16 hereof; or (g) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (h) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or (i) if, within 60 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within 60 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant, or for all or any part of Tenant's property, without the consent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or if an any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant's property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or (j) Excepting only those days on which Tenant is prevented from remaining open by virtue of strike, fire, unavoidable casualty or other event beyond the control of Tenant, but financial inability shall never be deemed to be an event beyond Tenant's control (and Tenant agrees promptly to advise Landlord of any such event and closing, and further agrees to reopen as soon thereafter as possible), failure of Tenant, after the Term commences, to be open for business to the public for more than one day when required by this Lease to be so open in any one calendar year, or for more than an aggregate of 3 such days during the Term hereof, or if this Lease be rejected in a Bankruptcy proceedingTenant shall otherwise abandon or vacate the Premises. Without limitation, the failure of Tenant to have completed its Initial Installations and equipped the Premises and to have opened for business on the Rent Commencement Date or should Tenant not take possession the closing of the Office with thirty (30) Premises for business after Tenant has initially opened for business therein, if such failure or closing continues for more than 3 consecutive days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for on which Tenant is liable required pursuant to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal applicable provisions of this Lease and to keep the Premises open for business, shall be considered for the purposes hereof to be an abandonment of the Premises by Tenant. Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant shall default under any term, condition and/or provision 3 days' notice of cancellation of this Lease, Landlord may cancel in which event this Lease and the Term shall come to an end and expire (whether or not the Term shall have commenced) upon the expiration of such renewal or extension upon three(3) days prior written 3 day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to TenantLandlord, but Tenant shall remain liable for damages as provided in Article 20 hereof.

Appears in 1 contract

Samples: Lease (Sports Club Co Inc)

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an “Event of Default” hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said default shall continue for five (5) days shall vacate and surrender the Office and after notice of such default is given to Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall (which notice may be in the form of an Illinois Statutory 5-day notice utilized in Forcible Entry and Detainer Proceedings), except that if Landlord shall have given two such notices of default in the payment of any Rent and/or Additional Rentin any 12-month period, or if Tenant shall not be entitled to any further notice of its delinquency in the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant is liable having failed to paymake any such payment when due, then Landlord, without notice, (and the occurrence of any default in the payment of any Rent within such 12-month period after the giving of notice is hereby expressly waived by Tenant)2 such notices shall constitute an Event of Default; or (b) Tenant fails to observe or perform any other term, may re- enter the Office, by force covenant or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal condition of this Lease and such failure continues for more than 30 days (10 days with respect to a default under ARTICLE 3) after notice by Landlord to Tenant shall of such default, or if such default (other than a default under ARTICLE 3) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days or as soon thereafter as is commercially practicable unless Tenant’s failure to cure such default within such 90-day period would constitute a default under any termMortgage or Superior Lease; or (c) if Landlord applies or retains any part of the security held by it hereunder, condition and/or provision and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as hereinafter defined), if applicable, within 5 days after notice by Landlord to Tenant stating the amount applied or retained; (d) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or (e) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within 60 days from the date of entry thereof. Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant notice of cancellation of this LeaseLease (or of Tenant’s possession of the Premises), Landlord in which event this Lease and the Term (or Tenant’s possession of the Premises) shall terminate (whether or not the Term shall have commenced) with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable for damages as provided in this ARTICLE 15. Any notice of cancellation of the Term (or Tenant’s possession of the Premises) may cancel such renewal or extension upon three(3) days prior written be given simultaneously with any notice of default given to Tenant.

Appears in 1 contract

Samples: Lease Agreement (BTHC VII Inc)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an ----------------- "Event of Default" hereunder: (a) Tenant fails to pay when due any installment of Rent and such default shall continue for five (5) Business Days after notice of such default is given to Tenant; provided, however, that for those items of Rent which are not paid routinely on a monthly basis, it shall not be an Event of Default until the default in payment thereof shall continue for ten (10) Business Days after notice of default is given to Tenant, except that if Landlord shall have given two (2) such notices of default in the payment of any Rent in any twelve (12) month period, in addition to all other rights and remedies hereunder, Landlord shall be entitled to a late charge (which Landlord shall waive such late charge the first two times in any twelve (12) month period that Tenant fails to make any installment or other payment of Rent when due) equal to five percent (5%) of any Rent payment which is not paid within five (5) Business Days after its due date until such time as twelve (12) consecutive months shall have lapsed without Tenant having failed to make any such payment when due; or (b) Tenant fails to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant under the terms and if such failure continues for more than thirty (30) days after notice by Landlord to Tenant of this Lease, other than the obligation to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Datesuch default, or if such default is of such a nature that it cannot be completely remedied within thirty (30) days, failure by Tenant to commence to remedy such failure within said thirty (30) days, and thereafter diligently prosecute to completion all steps necessary to remedy such default; or (c) Tenant's interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof; or ---------- (d) Tenant is unable to, or admits in writing its inability to, pay its debts as they become due; or (e) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any substantial part of Tenant's property; or (f) if, within one hundred twenty (120) days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within one hundred twenty (120) days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any substantial part of Tenant's property, without the consent or acquiescence of Tenant, as the case may be, such appointment shall not have been vacated or otherwise discharged, or if any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of property pursuant to which the Office is used and/or Premises shall be taken or occupied by someone other than Tenant. Upon the occurrence of any one or more of such Events of Default, or if Landlord may, at its sole option, give to Tenant five (5) days notice of cancellation of this Lease, in which event this Lease be rejected in a Bankruptcy proceeding, and the Term shall come to an end and expire (whether or should Tenant not take possession the Term shall have commenced) upon the expiration of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day period with the same force and effect as if the date set forth in the notice canceling this Lease was the Expiration Date stated herein; and Tenant, at the end of said five (5) days Tenant shall vacate then quit and surrender the Office and Premises to Landlord, but Tenant shall continue to remain liable for damages as set forth under this Lease. B. If provided in Article 18 hereof. ---------- Landlord shall use reasonable efforts to relet the Premises and to mitigate damages; provided, however, that Tenant shall understands and agrees that Landlord's main priority will be the leasing of other space in default in the payment of Rent and/or Additional Rent, Woodland Park controlled by Landlord or if the notice given pursuant to “A” hereinabove has expired any Landlord Affiliate (and not then leased by Landlord or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenantsuch Landlord Affiliate), may re- enter and the Office, by force or otherwise, reletting of the Premises will be of lower priority and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives that Landlord shall have the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible reject tenants based on any factor at all or for any damage sustained reason at all, the right to market or package the property of Tenant space in any configuration, and no liability for failure to relet or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, mitigate (so long as Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenantundertakes reasonable efforts as aforesaid).

Appears in 1 contract

Samples: Deed of Lease (Verisign Inc/Ca)

TENANT’S DEFAULTS. A. If there Each of the following events shall be an "EVENT OF DEFAULT" hereunder: (a) Tenant fails to pay when due any installment of Rent and such default shall continue for 5 Business Days after notice of such default is a default by given to Tenant,; or (b) Tenant under the terms fails to observe or perform any other term, covenant or condition of this Lease, other Lease and such failure continues for more than the obligation 30 days after notice by Landlord to pay Rent and Additional Rent, or Tenant vacates the Office prior to the Termination Dateof such default, or if such default is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 180 days (which 180-day period, notwithstanding the provisions of SECTION 26.16, shall be extended by one day for each day of Unavoidable Delay affecting Tenant's cure of such default); or (c) Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or (d) if, within 90 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, such proceeding shall not have been dismissed, or if, within 90 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property, without the consent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or if any lien, execution has been or attachment or other similar filing shall be made or issued against the property of Tenant or Tenant whereby any of Tenant's property pursuant to which the Office is used and/or Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant and the same is not dismissed within 30 days; or (e) Tenant's interest in this Lease shall devolve upon or pass to any individual or corporation or other similar entity or any Governmental Authority, whether by operation of law or otherwise, except as expressly permitted under ARTICLE 13 hereof ; or (f) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (g) if Guarantor shall fail to perform any of its monetary obligations when due under the Guaranty of Lease from the Guarantor in favor of Landlord, guarantying the payment and performance by Tenant of its obligations under this Lease, or if Guarantor shall fail to perform any other obligation under such Guaranty within 5 days after demand is made upon Guarantor; or (h) Guarantor or any assignor or this Lease be rejected in a Bankruptcy proceedinggenerally does not, or should is unable to, or admits in writing its inability to, pay its debts as they become due or is subject to the filing of a petition, case or proceeding in bankruptcy. Upon the occurrence of any one or more of such Events of Default, Landlord may, at its sole option, give to Tenant not take 3 days' notice of cancellation of this Lease (or of Tenant's possession of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(sPremises), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling which event this Lease and the Term (or Tenant, at 's possession of the end of said five Premises) shall terminate (5whether or not the Term shall have commenced) days with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall vacate then quit and surrender the Office and Premises to Landlord, but Tenant shall continue to remain liable for damages as set forth under provided in this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the OfficeARTICLE 15. Tenant expressly waives the right to receive Any notice of such re- entry by Landlord and agrees that Landlord shall not cancellation of the Term (or Tenant's possession of the Premises) may be responsible for given simultaneously with any damage sustained to the property notice of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice given to Tenant.

Appears in 1 contract

Samples: Lease (Franklin Resources Inc)

TENANT’S DEFAULTS. A. If there Time is a default by of the essence hereof, and in the event ----------------- Tenant under the terms violates or breaches or fails to keep or perform any covenant, agreement, term or condition of this Lease, other than and if such default or violation continues or is not remedied within five (5) business days (or, if no default in the obligation to pay Rent and Additional Rentpayment of money is involved, or Tenant vacates the Office prior to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession of the Office with thirty then within twenty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (1520) days, or if the default(s), by its nature such breach cannot be cured within said fifteen twenty (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (1520) days, then , in such event, Landlord may serve upon Tenant, Tenant commences a written five cure within twenty (5) day notice canceling this Lease and Tenant, at the end of said five (520) days shall vacate and surrender thereafter diligently prosecutes such cure to completion) after notice in writing thereof is given by Landlord to Tenant specifying the Office and Tenant shall continue matter claimed to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Rent and/or Additional Rentdefault, or if Tenant abandons or vacates the notice given pursuant to “A” hereinabove has expired Premises or if Tenant is in default in payment of any other matter for which Tenant is liable to paysignificant portion thereof, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant)at its option, may re- enter the Office, by force or otherwiseimmediately declare Tenant's rights under this Lease terminated, and dispossess Tenant or other occupantreenter the Premises using such force as may be necessary, by any lawful mannerand repossess itself thereof, as of its former estate, and remove their possessions all persons and retake property from the OfficePremises. Notwithstanding any such reentry, the liability of Tenant expressly waives for the right to receive notice full payment of such re- entry by Landlord rent and agrees that Landlord other amounts owed hereunder or provided for herein shall not be responsible extinguished for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision balance of this Lease, and Tenant shall make good to Landlord any deficiency arising from a reletting of the Premises at a lesser rent, plus the reasonable costs and expenses of renovating, altering and reletting the Premises, including attorneys' fees or brokers' fees incident to Landlord's reentry or reletting. Tenant shall pay any such deficiency each month as the amount thereof is ascertained by Landlord or, at Landlord's option, Landlord may cancel such renewal recover, in addition to any other sums, the amount at the time of judgment by which the unpaid rent for the balance of the term after judgment exceeds the amount of rental loss which Tenant proves could be reasonably avoided, discounted at the then Federal Discount Rate less three percent (3%). The calculation of any amount of rental loss which Tenant claims could be reasonably avoided shall take into account those sums which are reasonably anticipated to be expended by Landlord for tenant improvements, moving expenses, lease assumption costs, real estate commissions, and all other costs associated with reletting the Premises. In reletting the Premises, Landlord may grant rent concessions and Tenant shall not be credited therefor. Nothing herein shall be deemed to affect the right of Landlord to recover for indemnification under Section 17 herein arising prior to the termination of this Lease, or extension upon three(3) days prior written notice for any other remedy at law or in equity. Landlord shall make reasonable efforts to mitigate its damages in the event of Tenant's default.

Appears in 1 contract

Samples: Lease Agreement (Stamps Com Inc)

TENANT’S DEFAULTS. A. If there is a default Section 22.1. Any of the following events shall constitute an "Event of Default" by Tenant under this Lease: (i) This Lease is being entered into in conjunction with the Redevelopment Agreement. At any time prior to the Certificate Date, (a) an event of default under the Redevelopment Agreement shall constitute a default under this Lease, and (b) an event of default under this Lease shall constitute a default under the Redevelopment Agreement. (ii) If Tenant does not pay in full when due and without demand any and all installments of Fixed Minimum Rent or Additional Rent, or any other charges or payments payable by Tenant pursuant to the terms hereof, and shall not cure such failure within ten (10) days after written notice thereof; (iii) If Tenant violates or fails to perform any term, provision, covenant or warranty of Tenant in this Lease, other than the obligation payment of rent, charge or assessment payable by Tenant, and shall not cure such failure within sixty (60) days after written notice thereof; (iv) If Tenant shall make a transfer of its assets in fraud of creditors or shall make an assignment for the benefit of creditors or offer a composition or settlement to pay Rent and Additional Rentcreditors; (v) If Tenant shall file a petition under any section or chapter of the United States Bankruptcy Code, as amended, or under any similar law or statute of the United States or any State thereof, or there shall be filed against the Tenant a petition in bankruptcy or insolvency or a similar proceeding that is not removed or stayed within sixty (60) days of filing, or Tenant vacates shall be adjudged bankrupt or insolvent in proceeding filed against Tenant; (vi) If a receiver or trustee shall be appointed for Tenant's leasehold interest in the Office prior to the Termination Date, Premises or if an execution has been issued against the property of Tenant for all or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession substantially all of the Office with thirty assets of Tenant; (30vii) days from If Tenant's leasehold interest in the Possession DatePremises shall be levied upon by any sheriff, the Landlord, upon fifteen xxxxxxxx or constable: (15viii) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be abandon or vacate all or any portion of the Premises or fail to take possession thereof as provided in default in the payment of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired this Lease or if Tenant is shall remove any property from the Premises except as permitted by Article 21, above; or (ix) If, prior to Certificate Date, in default in payment accordance with the terms of any other matter for which the Redevelopment Agreement, Tenant is liable to pay, then Landlordshall, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days Landlord's prior written notice consent, do or permit to Tenantbe done anything which creates a lien upon the Premises.

Appears in 1 contract

Samples: Ground Lease Agreement

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an "Event of Default" hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Fixed Rent (including any recurring payments of Tenant's Operating Payment or Tax Payment) and Additional Rent, or Tenant vacates the Office prior such default shall continue for 5 Business Days after notice of such default is given to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or except that if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession Landlord shall have given one such notice of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Fixed Rent and/or Additional Rentin any 12 month period, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for entitled to any damage sustained further notice of its delinquency in the payment of Fixed Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the property occurrence of any default in the payment of Fixed Rent within such 12 month period after giving one such notice shall constitute an Event of Default; or (b) Tenant or fails to make any other occupant. If their be an extension or renewal payment of Rent within the period required by any provision of this Lease and such failure continues for 10 days following receipt of notice from Landlord; (c) Tenant shall fails to observe or perform any other term, covenant or condition of this Lease and such failure continues for more than 30 days (10 days with respect to a default under Article 3) after notice by Landlord to Tenant of such default, or if such default is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days or as soon thereafter as is commercially practicable unless Tenant's failure to cure such defaults within such 90 day period would constitute a default under any termMortgage or Superior Lease; or (d) if Landlord applies or retains any part of the Security Deposit, condition and/or provision and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of this LeaseCredit (as hereinafter defined), if applicable, within 5 days after notice by Landlord may cancel such renewal to Tenant stating the amount applied or extension upon three(3) days prior written notice to Tenantretained.

Appears in 1 contract

Samples: Lease (Cmgi Inc)

TENANT’S DEFAULTS. A. If there The occurrence of any of the following events shall constitute an event of default (each, an “Event of Default”): (i) if Tenant shall fail or refuse to take possession of the Premises as of the Commencement Date; or (ii) if Tenant shall fail to pay Base Rent, Additional Rent, and/or the Utility Reimbursement (after receipt of the underlying utility bills) to Landlord when the same is a default by Tenant due and payable under the terms of this Lease, other than the obligation to pay Rent Lease and Additional Rent, or Tenant vacates the Office prior to the Termination Date, or if an execution such failure shall continue for a period of days after written notice thereof has been issued against the property of given to Tenant by Landlord. (iii) if Tenant shall fail to perform any other duty or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or if obligation imposed upon it pursuant to this Lease and such failure shall, except in the case of an emergency, continue for a period of days after written notice thereof has been given to Tenant by Landlord, unless such Event of Default cannot be rejected reasonably remedied within Landlord’s notice, in a Bankruptcy proceeding, or should which event Tenant not take possession shall have no more than days after Tenant’s receipt of the Office with thirty (30) days from the Possession Dateexpiration of the original day period, the Landlord, upon fifteen (15) days prior written notice to Tenant within which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) daysEvent of Default. In the case an Event of Default shall constitute or create an emergency, then , in Tenant shall commence immediately to cure such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office default and Tenant shall continue to remain liable as set forth under cure such default until it is completely cured, without regard to any cure period contained in this Lease.Section 15; or B. If (iv) if Tenant abandons or vacates the Premises or any portion of the Premises for a period of consecutive days; or (v) if Tenant shall be in default assign, sublet, transfer, mortgage, or otherwise encumber its Leasehold Estate in the payment Premises, in whole or in part, without the prior written consent of Rent and/or Additional Rent, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, except as provided in Sections 14(a) and (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force b) above or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for any damage sustained to the property of Tenant or other occupant. If their be an extension or renewal of this Lease and Tenant shall default under any term, condition and/or provision of this Lease, Landlord may cancel such renewal or extension upon three(3) days prior written notice to Tenant.as otherwise specified herein; or

Appears in 1 contract

Samples: Lease Agreement

TENANT’S DEFAULTS. A. If there is a default by Each of the following events shall be an "EVENT OF DEFAULT" hereunder: (a) Tenant under the terms of this Lease, other than the obligation fails to pay when due any installment of Fixed Rent (including any recurring payments of Tenant's Operating Payment or Tax Payment) and Additional Rent, or Tenant vacates the Office prior such default shall continue for 5 Business Days after notice of such default is given to the Termination Date, or if an execution has been issued against the property of Tenant or Tenant whereby the Office is used and/or occupied by someone other than Tenant, or except that if this Lease be rejected in a Bankruptcy proceeding, or should Tenant not take possession Landlord shall have given one such notice of the Office with thirty (30) days from the Possession Date, the Landlord, upon fifteen (15) days prior written notice to Tenant which sets forth Tenant’s default(s) and should Tenant fail to completely cure said specified default(s) within said fifteen (15) days, or if the default(s), by its nature cannot be cured within said fifteen (15) days or should Tenant fail to undertake with diligent effort to cure the default(s) within said fifteen (15) days, then , in such event, Landlord may serve upon Tenant, a written five (5) day notice canceling this Lease and Tenant, at the end of said five (5) days shall vacate and surrender the Office and Tenant shall continue to remain liable as set forth under this Lease. B. If Tenant shall be in default in the payment of Fixed Rent and/or Additional Rentin any 12 month period, or if the notice given pursuant to “A” hereinabove has expired or if Tenant is in default in payment of any other matter for which Tenant is liable to pay, then Landlord, without notice, (the giving of notice is hereby expressly waived by Tenant), may re- enter the Office, by force or otherwise, and dispossess Tenant or other occupant, by any lawful manner, and remove their possessions and retake the Office. Tenant expressly waives the right to receive notice of such re- entry by Landlord and agrees that Landlord shall not be responsible for entitled to any damage sustained further notice of its delinquency in the payment of Fixed Rent or an extended period in which to make payment until such time as 12 consecutive months shall have elapsed without Tenant having failed to make any such payment when due, and the property occurrence of any default in the payment of Fixed Rent within such 12 month period after giving one such notice shall constitute an Event of Default; or (b) Tenant or fails to make any other occupant. If their be an extension or renewal payment of Rent within the period required by any provision of this Lease and such failure continues for 10 days following receipt of notice from Landlord; (c) Tenant shall fails to observe or perform any other term, covenant or condition of this Lease and such failure continues for more than 30 days (10 days with respect to a default under Article 3) after notice by Landlord to Tenant of such default, or if such default is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to commence to remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the same is completed within 90 days or as soon thereafter as is commercially practicable unless Tenant's failure to cure such defaults within such 90 day period would constitute a default under any termMortgage or Superior Lease; or (d) if Landlord applies or retains any part of the Security Deposit, condition and/or provision and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of this LeaseCredit (as hereinafter defined), if applicable, within 5 days after notice by Landlord may cancel such renewal to Tenant stating the amount applied or extension upon three(3) days prior written notice to Tenantretained.

Appears in 1 contract

Samples: Lease Agreement (Engage Technologies Inc)

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