Common use of TENANT’S DEFAULTS Clause in Contracts

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant: (a) Failure to make in the due and punctual payment of any rent, or in the payment of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payable; or (b) Failure by Tenant to perform of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same); or (c) The filing by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other statute, law or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 2 contracts

Samples: Fort Worth Lease (Central Freight Lines Inc/Tx), Eagle Pass Lease (Central Freight Lines Inc/Tx)

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TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant: (a) Failure to make in the due and punctual payment of any rent, or in the payment of to pay any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payable; or; (b) Failure by Tenant to perform of or compliance comply with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions subdivision (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same); or; (c) The filing by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, federal or state bankruptcy or insolvency statutes or other consent to or acquiesce acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution dissolution, or similar relief under any present or future federal, state or other statute, law law, or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver receiver, or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment ejectment, or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" ", or "reentry", as used in this Lease, are not restricted to their technical legal meaning. SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof. SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Central Freight Lines Inc), Lease Agreement (Central Freight Lines Inc)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant: (a) Failure to make in the due and punctual payment of any rent, or in the payment of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payable; or (b) Failure by Tenant to perform of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same); or (c) The filing by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other statute, law or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment judgement or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Beaumont Lease (Central Freight Lines Inc/Tx)

TENANT’S DEFAULTS. SECTION 19.01. The In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant: (a) Failure The failure by Tenant to make in the due and punctual any payment of any rent, Base Rent or in the payment of any other sums Additional Rent required to be paid made by Tenant under this Lease Tenant, as and when and as the same shall become due and payable; or due, where such failure continues for more than five (b) Failure by Tenant to perform of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions (a), and the continuation of such default for a period of thirty (305) days after written notice thereof form from Landlord to Tenant (of the delinquency thereof; provided, however, that if Tenant proceeds with due diligence during any such thirty notice shall constitute and/or be in lieu of, and shall not be in addition to, any notice required under applicable law. (30b) day period to cure such default and is unable by reason Assignment, sublease, encumbrance or other transfer of the nature Lease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or other means without the work involvedprior written consent of Landlord, except as expressly permitted pursuant to cure the same within the said thirty (30Section 9.1(c) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same); orhereof. (c) The filing discovery by Landlord that any financial statement provided by Tenant of a voluntary petition in bankruptcy or the adjudication by any affiliate, successor or guarantor of Tenant as a bankrupt was materially false. (d) The failure or insolvent, or taking inability by Tenant to observe or perform any of the benefit express covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any relevant debtors or other subsection of this Section, where the filing by failure continues for a period of fifteen (15) days after written notice from Landlord to Tenant; provided, however, that any such notice shall constitute and/or be in lieu of and not in addition to any notice required under applicable law. However, if the nature of the failure is such that more than fifteen (15) days are reasonably required for its cure, then Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent shall not be deemed to or acquiesce be in default if Tenant commences the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or cure within fifteen (15) days and thereafter diligently pursues the cure to completion. (i) The making by Tenant of any general assignment for the benefit of creditors; or (dii) The the filing by or against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution to have Tenant adjudged a Chapter 7 debtor under the Bankruptcy Code or similar relief to have debts discharged or a petition for reorganization or arrangement under any present law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty [60] days); (iii) the appointment of a trustee or future federalreceiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, state if possession is not restored to Tenant within thirty (30) days; (iv) the attachment, execution or other statutejudicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease where the seizure is not discharged within thirty (30) days; or (v) Tenant’s convening of a meeting of its creditors for the purpose of effecting a moratorium upon or composition of its debts. Landlord shall not be deemed to have knowledge of any event described in this subsection unless notification in writing is received by Landlord, law nor shall there be any presumption attributable to Landlord of Tenant’s insolvency. In the event that any provision of this subsection is contrary to applicable law, the provision shall be of no force or regulation which petition shall remain undismissed effect. (f) The Tenant’s failure to take possession of the Premises or unstayed for an aggregate of to occupy same within sixty (60) days, or if any trustee, receiver or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without days after the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminateCommencement Date. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Office Space Lease (New Age Beverages Corp)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder: (a) Failure Tenant fails to make in the pay when due any installment of Rent, and punctual payment of any rent, or in the payment of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payablesuch failure continues for more than five (5) Business Days following written notice from Landlord; or (b) Failure by Tenant to perform Except for an Event of or compliance with any Default falling within the terms of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions subsections (a), (c), (d), (e) or (f) hereof, Tenant fails to observe or perform any other term, covenant or condition of this Lease and the continuation of such default failure continues for a period of more than thirty (30) days after written notice thereof form by Landlord to Tenant (providedof such default, or if such default is of a nature that if Tenant proceeds with due diligence during such it cannot be completely remedied within thirty (30) day period days, failure by Tenant to cure commence to remedy such default and is unable by reason of the nature of the work involved, to cure the same failure within the said thirty (30) days, its time and thereafter diligently prosecute to do so shall be extended for such additional period as shall be completion all steps necessary to cure remedy such default, provided in all events the same)same is completed within one hundred eighty (180) days; or (c) The filing Tenant fails to observe or perform according to the provisions of Articles 3 or 9 or Section 26.10 of this Lease where such failure continues for more than five (5) Business Days after notice from Landlord; or (d) if Landlord applies or retains any part of the security held by it hereunder, and Tenant of fails to deposit with Landlord the amount so applied or retained by Landlord, within ten (10) days after notice by Landlord to Tenant stating the amount applied, retained, as applicable; or (e) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, 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 statute or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) dayslaw, or if 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 all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence approving a petition filed against Tenant seeking reorganization or arrangement of Landlord Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such appointment order, judgment or decree shall remain unvacated not be vacated or unstayed for an aggregate of set aside or stayed within sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover days from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by entry thereof. The notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, periods provided herein are in recordable form, confirming such assignment and transferlieu of, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, not in addition to to, any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacitynotice periods provided by applicable Requirements. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease Agreement (Mindspeed Technologies, Inc)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant: (a) Failure The failure by Tenant to make in the due and punctual any payment of any rent, Basic Rent or in the payment of any other sums payments of rent required to be paid made by Tenant Tenant, as and when due, where the failure continues for a period of five (5) business days after written notice from Landlord to Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under this Lease when and as the same shall become due and payable; orApplicable Law. (b) Failure Any Transfer of this Lease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or other means, in violation of Article IX above. (c) The failure or inability by Tenant to observe or perform of or compliance with any of the covenants, agreements, terms covenants or conditions contained in provisions of this Lease to be observed or performed by Tenant, other than those referred to as specified in any other subsection of this Section 14.1, where the foregoing subdivisions (a), and the continuation of such default failure continues for a period of thirty (30) days after written notice thereof form from Landlord to Tenant (Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under Applicable Law. However, if Tenant proceeds with due diligence during the nature of the failure is such that more than thirty (30) day period days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences the cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time thereafter diligently pursues the cure to do so shall be extended for such additional period as shall be necessary to cure the same); orcompletion. (ci) The filing by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (dii) The the filing by or against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution to have Tenant adjudged a Chapter 7 debtor under the Bankruptcy Code or similar relief to have debts discharged or a petition for reorganization or arrangement under any present or future federallaw relating to bankruptcy (unless, state or other statutein the case of a petition filed against Tenant, law or regulation which petition shall remain undismissed or unstayed for an aggregate of the same is dismissed within sixty (60) days, ); (iii) the appointment of a trustee or if any trustee, receiver or liquidator to take possession of substantially all of Tenant, ’s assets located at the Premises or of all or any substantial part of its propertiesTenant’s interest in this Lease, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of if possession is not restored to Tenant within sixty (60) days; (iv) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where the seizure is not discharged within sixty (60) days; or (v) Tenant’s convening of a meeting of its creditors for the purpose of effecting a moratorium upon or composition of its debts. In the event of that any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination provision of this Leasesubsection (d) is contrary to the Bankruptcy Code or any other Applicable Law, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord provision shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any no force or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singulareffect. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease (Leo Holdings III Corp.)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called shall be an "Events of Default") shall constitute a material default and breach of this Lease by TenantEVENT OF DEFAULT" hereunder: (a) Failure Tenant fails to make in the pay when due any installment of Rent and punctual payment such default shall continue for five days after notice of any rent, or such default is given to Tenant except that if Landlord shall have given two such notices of default in the payment of any other sums required Rent in any 12 month period, Tenant shall not be entitled to be paid by any further notice of its delinquency in the payment of any Rent until such time as 12 consecutive months shall have elapsed without Tenant under this Lease having failed to make any such payment when due, and as the same occurrence of any default in the payment of any Rent within such 12 month period which continues for 5 days after the giving of two such notices shall become due and payableconstitute an Event of Default; or (b) Failure Tenant 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 Section 3.1) after notice by Landlord to Tenant of such default, or if such default (other than a default under Section 3.1) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to perform of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred commence to in the foregoing subdivisions (a)remedy such failure within said 30 days, and the continuation of thereafter diligently prosecute to completion all steps necessary to remedy such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provideddefault, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure provided in all events the same is completed within the said thirty (30) 90 days, its time to do so shall be extended for such additional period as shall be necessary to cure the same); or (c) The filing by Tenant of files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, 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 statute or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) dayslaw, or if 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) 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 all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence of Landlord and such appointment shall remain unvacated approving a petition filed against Tenant seeking reorganization or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights arrangement of Tenant under this Lease at the option bankruptcy laws of the Landlord shall expire and terminate. SECTION 19.02. Upon United States, as now in effect or hereafter amended, or any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwisestate thereof, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of terminationorder, Landlord judgment or decree shall not be entitled to accelerate the rent to recover vacated or set aside or stayed within 60 days from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.entry thereof; or

Appears in 1 contract

Samples: Lease Agreement (Philadelphia Consolidated Holding Corp)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder: (a) Failure Tenant fails to make in the pay when due any installment of Rent, and punctual payment such failure continues for more than five (5) Business Days after written notice by Landlord to Tenant of any rent, or in the payment of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payablesuch default; or (b) Failure by Tenant to perform Except for an Event of or compliance with any Default falling within the terms of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions subsections (a), (c), (d), (e) or (f) hereof, Tenant fails to observe or perform any other term, covenant or condition of this Lease and the continuation of such default failure continues for a period of more than thirty (30) days after written notice thereof form by Landlord to Tenant (providedof such default, or if such default is of a nature that if Tenant proceeds with due diligence during such it cannot be completely remedied within thirty (30) day period days, failure by Tenant to cure commence to remedy such default and is unable by reason of the nature of the work involved, to cure the same failure within the said thirty (30) days, its time and thereafter diligently prosecute to do so shall be extended for such additional period as shall be completion all steps necessary to cure the same)remedy such default as soon as reasonably practicable; or (c) The filing Tenant fails to observe or perform according to the provisions of Articles 3 or 9 or Section 26.10 of this Lease where such failure continues for more than two (2) 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 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 five (5) Business Days after notice by Landlord to Tenant stating the amount applied or retained or drawn, as applicable; or (e) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, 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 statute or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) dayslaw, or if 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 all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence approving a petition filed against Tenant seeking reorganization or arrangement of Landlord Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such appointment order, judgment or decree shall remain unvacated not be vacated or unstayed for an aggregate of set aside or stayed within sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover days from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by entry thereof. The notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, periods provided herein are in recordable form, confirming such assignment and transferlieu of, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, not in addition to to, any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacitynotice periods provided by applicable Requirements. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease Agreement (Cereplast Inc)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach an event of this Lease by Tenant: default: (ai) Failure to make in the due and punctual payment Any installment of any rent, Fixed Rent or in the payment of any other sums required to be paid by Tenant under this Lease when hereunder, or any part thereof shall at any time be in arrears and as unpaid for ten (10) days after the same shall become due and payable; or date due, or (bii) Failure by There is any default or breach on the part of Tenant to perform in the observance or performance of or compliance with any of the other covenants, agreements, terms or conditions contained in of this Lease other than those referred on the part of Tenant to in the foregoing subdivisions (a), be kept and the continuation of such performed and said default or breach shall continue for a period of thirty (30) days after written notice thereof form from Landlord to Tenant (provided, that if Tenant proceeds with due diligence during unless such default cannot reasonably be cured within thirty (30) day period days and in such case, Tenant shall have commenced to cure such said default and is unable by reason of the nature of the work involved, to cure the same within the said thirty ({30) daysdays and thereafter continue diligently to pursue to completion the curing of same, its time but in no event to do so exceed sixty (60) days after notice from Landlord to Tenant), or (iii) Tenant shall be extended for such additional period as shall be necessary to cure the same); or (c) The filing by Tenant of file a voluntary petition in bankruptcy or the adjudication of Tenant as be adjudicated a bankrupt or insolventbankrupt, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federalFederal, state State or other consent to statute, law or acquiesce in regulation, or make an assignment for the appointment benefit of any creditors, or (iv) Any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other statute, law or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver or liquidator of Tenant, or of all or any substantial part of its properties, properties shall be appointed in any action, suit or proceeding by or against Tenant and such proceeding or action shall not have been dismissed within ten (10) days after such appointment, or (v) Tenant shall attempt to assign this Lease or sublet any portion of the Premises without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies except as permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this LeaseParagraph 15 hereof, or (bvi) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail to deliver within twenty (20) days after a request therefor any document described in Paragraphs 11 or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity17 hereof. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease Agreement (Ace Hardware Corp)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called shall be an "Events Event of Default") shall constitute a material default and breach of this Lease by Tenant" hereunder: (a) Failure to make in the due and punctual payment of any rent, or in the payment of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payable; or (bi) Failure by Tenant to perform pay when due any installment of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same)Fixed Rent; or (cii) The filing Failure by Tenant to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant and if such failure 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 cannot be completely remedied within 10 days, failure by Tenant to commence to remedy such failure within said 10 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default; or (iii) 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 (iv) 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 (v) Tenant generally does not, or is unable to, or admits in writing its inability to, pay its debts as they become due; or (vi) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal bankruptcy act or any other present or future applicable federal, state or other consent statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesce acquiesces in the appointment of any trustee, receiver receiver, liquidator or liquidator of other similar official for Tenant or for all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditorsTenant's property; or (dvii) The if, within 60 days after the commencement of any proceeding against Tenant, whether by the filing against Tenant of a petition or otherwise, seeking any 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 statutestatute or law, law or regulation which petition such proceeding shall remain undismissed or unstayed for an aggregate of sixty (60) daysnot have been dismissed, or if if, within 60 days after the appointment of any trustee, receiver receiver, liquidator or liquidator of Tenant, other similar official for Tenant or of for all or any substantial part of its propertiesTenant's property, shall be appointed without the consent or acquiescence of Landlord and Tenant, as the case may be, such appointment shall remain unvacated not have been vacated or unstayed for an aggregate of sixty (60) days. In otherwise discharged, or if any lien, Upon the event occurrence of any one or more of such Event Events of Default, Landlord may, at its sole option, give to Tenant three days' notice of cancellation of this Lease, in which event this Lease and the term herein stated Term shall come to an end and all rights of Tenant under this Lease at expire (whether or not the option of the Landlord Term shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter have commenced) upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of such three day period with the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to same force and effect as if the date of termination, or (c) after Landlord expiration of such three days were the Expiration Date stated herein; and Tenant shall have commenced a proceeding then quit and surrender the Premises to recover possession of the PropertyLandlord, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, remain liable for damages as provided in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacityArticle 19 hereof. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease Agreement (Martha Stewart Living Omnimedia Inc)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more ‌ Any of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant“Tenant Default”: (a) Failure to make A. Tenant defaults in the due and punctual payment of any rentRent, or in the payment of any other sums required to be paid by and such default continues for ten (10) days after written notice from Tenant; B. Tenant under this Lease when and as the same shall become due and payable; or (b) Failure by Tenant to perform of or compliance with breaches any of the covenantsother representations, agreements, terms terms, covenants or conditions contained set forth in this A&R Lease other than those referred that Tenant is required to in the foregoing subdivisions (a)perform or observe, and the continuation of such default breach continues for a period of thirty (30) days after written notice thereof form from Landlord or the County to Tenant (Tenant; provided, that however if Tenant proceeds the curing or remedying of such default requires the doing of work or the taking of action which cannot with due diligence during such be completed in a thirty (30) day period, continues beyond such period to cure such default and is unable by reason following the end of the nature period of the work involved, to cure the same within the said thirty (30) daysdays after the service of a notice of default as is reasonably necessary, its time taking into account unavoidable delays, to do so shall be extended for the work required or to complete such additional period other action as shall be necessary is required to cure or remedy the same); ordefault in question; C. Tenant breaches any of the agreements, terms, covenants or conditions set forth in the Management Agreement that Tenant is required to perform or observe pursuant to the terms thereof and said breach continues beyond the greater of (ca) The filing any applicable notice and cure period provided for in such agreement and (b) ninety (90) days after written notice from Landlord to Tenant; D. Tenant defaults in the performance or observance of any term, covenant, condition or provision of Development Agreement subject to the same notice, cure and other provisions as if such default were under this A&R Lease; E. This A&R Lease or the Sports Complex or any part of the Sports Complex is taken upon execution or by other process of law directed against Xxxxxx, or are taken upon or subject to any attachment by any creditor of Tenant or claimant against Tenant, and said attachment is not discharged or disposed of within ninety (90) days after its levy; F. Tenant files a voluntary petition in bankruptcy or insolvency or for reorganization or arrangement under the adjudication bankruptcy laws of Tenant as a bankrupt the United States or insolventunder any insolvency act of any state, or taking by Tenant of admit the benefit material allegations of any relevant debtors such petition by answer or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its propertiesotherwise, or the making by Tenant of any general are dissolved or make an assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief G. Involuntary proceedings under any present or future federal, state or other statute, such bankruptcy law or regulation which petition shall remain undismissed insolvency act or unstayed for an aggregate the dissolution of sixty (60) daysTenant are instituted against Tenant, as applicable, or if any trustee, a receiver or liquidator trustee is appointed for any material portion of the property of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated proceeding is not dismissed or unstayed for an aggregate of sixty such receivership or trusteeship vacated within one hundred and twenty (60120) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or days after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment institution or otherwise, and dispose and remove Tenant therefromappointment. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease Agreement

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called shall be an "Events Event of Default") shall constitute a material default and breach of this Lease by Tenant" hereunder: (a) Failure Tenant fails to make in 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 past due for the due and punctual first two (2) late payment of Rent during any rent, or in the payment of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payabletwelve (12) month period); or (b) Failure by Tenant to perform of or compliance with any of the covenants, agreements, terms or conditions contained Except as otherwise specifically set forth in this Section 15.1, Tenant fails to observe or perform any other term, covenant or condition of this Lease other and such failure continues for more than those referred to in the foregoing subdivisions (a), and the continuation of such default for a period of thirty (30) days (or three (3) Business Days with respect to a failure under Article 3, Article 9 or Section 26.10) after written notice thereof form by Landlord to Tenant of such default, or if such default (providedother than a default under Article 3, Article 9 or Section 26.10) is of a nature that if Tenant proceeds with due diligence during such it cannot be completely remedied within thirty (30) day period days, failure by Tenant to cure commence to remedy such default and is unable by reason of the nature of the work involved, to cure the same failure within the said thirty (30) days, its time and thereafter diligently prosecute to do so shall be extended for such additional period as shall be completion all steps necessary to cure remedy such default, provided in all events the samesame is completed within ninety (90) days; or 789956.06/WLA 377061-00006/sb/sb Arboretum Courtyard [Catasys, Inc.] (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 five (5) days after notice by Landlord to Tenant stating the amount applied, retained or drawn, as applicable; or (cd) The filing by Tenant of files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, 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 statute or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) dayslaw, or if 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 all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence approving a petition filed against Tenant seeking reorganization or arrangement of Landlord Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such appointment order, judgment or decree shall remain unvacated not be vacated or unstayed for an aggregate of set aside or stayed within sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover days from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by entry thereof. The notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, periods provided herein are in recordable form, confirming such assignment and transferlieu of, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, not in addition to to, any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacitynotice periods provided by applicable Requirements. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease (Catasys, Inc.)

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TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called shall be an "Events Event of Default") shall constitute a material default and breach of this Lease by Tenant" hereunder: (a) Failure Tenant fails to make in the pay when due any installment of Fixed Rent or Additional Rent and punctual payment such default continues for three Business Days after notice of any rentsuch default is given to Tenant, or except that if Landlord shall have given two such notices of default in the payment of any other sums required Rent in any consecutive twelve month period, Tenant shall not be entitled to be paid by 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 under this Lease having failed to make any such payment when due, and as the same occurrence of any default in the payment of any Rent within such twelve month period after the giving of two such notices shall become due and payableconstitute an Event of Default; or (b) Failure Tenant defaults in the observance or performance of any other term, covenant or condition of this Lease to be observed or performed by Tenant to perform of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions (a), and the continuation of such default continues for a period of thirty (30) more than 30 days after written notice thereof form by Landlord to Tenant (provided, that of such default; or if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the such a nature of the work involved, to cure the same that it can be remedied but cannot be completely remedied within the said thirty (30) 30 days, its time Tenant fails to do so shall be extended for commence to remedy such additional period as shall be default within 30 days after such notice or, with respect to any such default, Tenant, having commenced such remedy within 30 days after such notice, fails to diligently prosecute to completion all steps necessary to cure the same)remedy such default; or (c) The filing Tenant's interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, in violation of Article 15; or (d) Tenant of admits in writing its inability to, pay its debts as they become due; or (e) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal bankruptcy act or any other present or future applicable federal, state or other consent statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesce acquiesces in the appointment of any trustee, receiver receiver, liquidator or liquidator of other similar official for Tenant or for all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditorsTenant's property; or (df) The if, within 90 days after the commencement of any proceeding against Tenant, whether by the filing against Tenant of a petition or otherwise, seeking any 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 statutestatute or law, law or regulation which petition such proceeding shall remain undismissed or unstayed for an aggregate of sixty (60) daysnot have been dismissed, or if if, within 90 days after the appointment of any trustee, receiver receiver, liquidator or liquidator of Tenant, other similar official for Tenant or of for all or any substantial part of its propertiesTenant's property, shall be appointed without the consent or acquiescence of Landlord and Tenant, such appointment shall remain unvacated not have been vacated or unstayed for an aggregate otherwise discharged, or if any lien, execution or attachment or other similar filing shall be made or issued against Tenant or any of sixty Tenant's property pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or (60g) daysif 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 applicable, within 5 Business Days after notice by Landlord to Tenant stating the amount applied or retained. In Upon the event occurrence of any one or more of such Event Events of Default, Landlord may, at its sole option, give to Tenant three days' notice of cancellation of this Lease, in which event this Lease and the term herein stated Term shall come to an end and all rights of Tenant under this Lease at expire (whether or not the option of the Landlord Term shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter have commenced) upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of such three day period with the term of this Lease, or (b) after Landlord or same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall have been served any notice of termination of this Leasethen quit and surrender the Premises to Landlord, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, remain liable for damages as provided in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacityArticle 19 hereof. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease (Advent Software Inc /De/)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder: (a) Failure Tenant fails to make in the pay when due any installment of Fixed Rent or Additional Rent and punctual payment such default continues for ten days after Landlord’s notice of any rent, or in the payment of any other sums required such default is given to be paid by Tenant under this Lease when and as the same shall become due and payableTenant; or (b) Failure by Tenant defaults in observing or performing the provisions of Section 3.1(a) (subject to perform of or compliance with any of Tenant’s right to challenge the covenants, agreements, terms or conditions contained default as set forth in this Lease other than those referred to in the foregoing subdivisions (aSection 3.1(a)), and the continuation of such default continues for a period of thirty (30) days 3 Business Days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same)notice; or (c) The filing Except where a 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 30 days after notice by Landlord to Tenant of such default, or such default is of such a nature that it cannot be completely remedied within 30 days and Tenant 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 same; or (f) Xxxxxx admits in writing its inability to, pay its debts as they become due; or (g) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal bankruptcy act or any other present or future applicable federal, state or other consent statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesce acquiesces in the appointment of any trustee, receiver receiver, liquidator or liquidator of other similar official for Tenant or for all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditorsTenant’s property; or (dh) The if, within 120 days after the commencement of any proceeding against Tenant, whether by the filing against Tenant of a petition or otherwise, seeking any 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 statutestatute or law, law or regulation which petition such proceeding shall remain undismissed or unstayed for an aggregate of sixty (60) daysnot have been dismissed, or if if, within 120 days after the appointment of any trustee, receiver receiver, liquidator or liquidator of other similar official for Tenant, or of for all or any substantial part of its propertiesTenant’s property, shall be appointed without the consent or acquiescence of Landlord and Tenant, such appointment shall remain unvacated not have been vacated or unstayed otherwise discharged, or if any lien, execution or attachment or other similar filing shall be made or issued against Tenant or any of Tenant’s property pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or (i) Tenant shall fail to comply with the retail covenants set out in Exhibit F to this Lease and such failure shall continue for an aggregate five (5) Business Days after notice from Landlord to Tenant; provided, that Tenant shall not be in default under this clause (i) if, 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 cease to be in full force and effect for any reason other than the termination of sixty the Guaranty in accordance with the provisions of Section 2(b) of the Guaranty; or (60k) daysif the Guarantor (as defined Article 35) shall default under the Guaranty beyond any applicable 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. In Upon the event occurrence of any one or more of such Event Events of Default, Landlord may, at its sole option, give to Tenant three days’ notice of cancellation of this Lease, in which event this Lease and the term herein stated Term shall come to an end and all rights of Tenant under this Lease at expire (whether or not the option of the Landlord Term shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter have commenced) upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of such three day period with the term of this Lease, or (b) after Landlord or same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall have been served any notice of termination of this Leasethen quit and surrender the Premises to Landlord, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, remain liable for damages as provided in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacityArticle 20 hereof. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease (MSGE Spinco, Inc.)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material an event of default and breach of under this Lease by TenantLease: (ai) Failure Tenant's failure to make pay, in the due and punctual payment full, any installment of Basic Rent or additional rent when it is first due; (ii) Tenant's failure to perform any rent, or in the payment of any other sums required to be paid by Tenant its obligations under this Lease when and as the same shall become due and payable; orif such failure has caused loss or damage that cannot promptly be cured by Tenant; (biii) Failure by Tenant Tenant's failure to perform of or compliance with any of the covenants, agreements, terms or conditions contained in its obligations under this Lease (other than those referred to in the foregoing subdivisions contemplated by clauses (a), i) and the continuation (ii) of such default for a period of this Section 21.01) within thirty (30) days after written the receipt of notice thereof form Landlord to Tenant (providedspecifying the default, that if Tenant proceeds with due diligence during unless complete performance of such obligation within such thirty (30) day period to cure such default is not possible using diligence and is unable by reason expedience, then within a reasonable time after Tenant's receipt of the nature Landlord's notice, so long as Tenant shall have commenced performance of the work involvedrequired to correct the default and Tenant shall continue to perform such remedy, diligently and expediently, through to cure completion of performance; (iv) The discovery that any representation made by Tenant in this Lease shall have been inaccurate or incomplete in any material respect on the same within date it was made; (v) The sale, transfer or other disposition of any interest of Tenant in the said thirty Demised Premises, whether voluntarily or by way of execution or other legal process; (30vi) daysTenant, if a corporation, shall cease to exist as a corporation in good standing in the state of its time to do so incorporation, or the state in which the Demised Premises is located, or Tenant, if a partnership or other entity, shall be extended for such additional period as shall be necessary to cure the same)dissolved or otherwise liquidated; or (cvii) The filing by Tenant shall use any property adjoining the Demises Premises for any purpose whatsoever, without the written permission of a voluntary petition the property owner and any third party who may have an interest in bankruptcy such property (including, without limitation, holding an interest as tenant, easement holder) or do any act (including, without limitation, the adjudication parking or staging of Tenant as a bankrupt or insolventany vehicle) that interferes with the operations of Landlord, or taking any third party who may have an interest in property owned by Landlord or managed by Manager (including, without limitation, those holding an interest as tenant or easement holder), or any adjacent property owner. Upon the occurrence of an event of default, Landlord shall deliver written notice to Tenant specifying the default (hereinafter "First Notice"). At the expiration of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce time period specified in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties(iii) above, or at the making by Tenant expiration of ten (10) days in any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other statute, law or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such terminationdefault, Landlord may without further notice(x) cancel and terminate this Lease on not less than five (5) days written notice (hereinafter "Second Notice") to Tenant, and on the date specified in the Second Notice the Term of this Lease shall terminate and expire, and Tenant shall then quit and surrender the premises to Landlord, but Tenant shall remain liable as hereinafter provided and/or (y) at any time thereafter re-enter upon and resume possession of the Property Premises by force, summary proceedings, an action in ejectment or otherwise, by force or otherwise and dispose and dispossess or remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due occupants and owing under their effects and hold the Premises as if this Lease for had not been made; and Tenant waives the remainder service of any additional notice of intention to re-enter or to institute legal proceedings to that end. Notwithstanding the term and all other damages incurred by Landlord by reason of Tenant's defaultforegoing, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course event: Tenant is contesting, in good faith, the payment of things would be likely to result therefromsuch additional rent; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) Tenant has provided Landlord with written fifteen (15) days notice of such contest prior to the expiration of the term of this Lease, or aforestated ten (b10) after Landlord or Tenant shall have been served any days; and Such written notice of termination of this Lease, but prior to contains the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord basis for Tenant's proper and legal attorney-in-fact for such purposecontest, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives including any and all right required supporting documentation; and Tenant diligently prosecutes such contest in an expeditious manner; and Tenant has deposited the amount of redemption or reentry or repossession or the additional rent billed by Landlord with an escrow agent; then, Landlord agrees to restore delay sending the operation aforesaid Second Notice until ten (10) days after Tenant's receipt of this Lease in case Landlord's Response. Landlord agrees to deliver to Tenant shall be dispossessed by a judgment or by warrant written notice of it's response to Tenant's written contest setting forth Landlord's basis for the validity of the additional rent billing ("Landlord's Response"), including any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaningand all required supporting documentation.

Appears in 1 contract

Samples: Multiple Occupancy Net Lease (United Natural Foods Inc)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder: (a) Failure Tenant fails to make in the pay when due any installment of Rent and punctual payment such default shall continue for ten (10) days after notice of any rent, or such default is given to Tenant except that if Landlord shall have given three (3) such notices of default in the payment of any other sums required Rent in any twelve (12) month period, Tenant shall not be entitled to be paid by 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 under this Lease having failed to make any such payment when due, and as the same occurrence of any default in the payment of any Rent within such twelve (12) month period after the giving of three (3) such notices shall become due and payableconstitute an Event of Default; or (b) Failure by Tenant fails to observe or perform any other term, covenant or condition of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other and such failure continues for more than those referred to in the foregoing subdivisions (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form by Landlord to Tenant (providedof such default, or if such default is of a nature that if Tenant proceeds with due diligence during such it cannot be completely remedied within thirty (30) day period days, failure by Tenant to cure commence to remedy such default and is unable by reason of the nature of the work involved, to cure the same failure within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be and thereafter diligently take all steps necessary to cure the same)remedy such default; or (c) The filing by [intentionally omitted]; or (d) Tenant of files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, 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 statute or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) dayslaw, or if 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 all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence of Landlord and such appointment shall remain unvacated approving a petition filed against Tenant seeking reorganization or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights arrangement of Tenant under this Lease at the option bankruptcy laws of the Landlord shall expire and terminate. SECTION 19.02. Upon United States, as now in effect or hereafter amended, or any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwisestate thereof, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of terminationorder, Landlord judgment or decree shall not be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any vacated or all of the following: set aside or stayed within ninety (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (1590) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to from the date of terminationentry thereof; or (f) Guarantor generally does not, or (c) after Landlord shall have commenced a proceeding to recover possession of the Propertyis unable to, but prior or admits in writing its inability to, pay its debts as they become due or is subject to the termination filing of this Leasea petition, all subleases theretofore executed by case or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, proceeding in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacitybankruptcy. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Deed of Lease (FBR & Co.)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder: (a) Failure Tenant fails to make in the pay when due any installment of Rent and punctual payment such default shall continue for ten (10) days after notice of any rent, or such default is given to Tenant except that if Landlord shall have given two such notices of default in the payment of any other sums required 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 at which time Tenant’s right to receive notice shall be paid by Tenant under this Lease when reinstated as set forth above, and as the same 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 become due and payableconstitute an Event of Default; or (b) Failure by Tenant fails to observe or perform any other term, covenant or condition of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other and such failure continues for more than those referred to in the foregoing subdivisions (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form by Landlord to Tenant (providedof such default, or if such default is of a nature that if Tenant proceeds with due diligence during such it cannot be completely remedied within thirty (30) day period days, failure by Tenant to cure commence to remedy such default and is unable by reason of the nature of the work involved, to cure the same failure within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be and thereafter diligently take all steps necessary to cure the same)remedy such default to completion; or (c) The filing by [intentionally omitted]; or (d) Tenant of files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, 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 statute or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) dayslaw, or if 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 all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence approving a petition filed against Tenant seeking reorganization or arrangement of Landlord Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such appointment order, judgment or decree shall remain unvacated not be vacated or unstayed for an aggregate of set aside or stayed within sixty (60) days. In days from the event date of entry thereof; or (f) Guarantor generally does not, or is unable to pay its debts as they become due or is subject to the filing of a petition, case or proceeding in bankruptcy; or (g) the occurrence of a default under any such Event guaranty of Default, this Lease and the term herein stated and all rights or any portion of Tenant Tenant’s liabilities under this Lease at the option of the Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to default continues beyond the expiration of the term of this Lease, or any applicable notice and/or cure period(s) (bif any) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do set forth in such capacityguaranty. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Deed of Lease (Carlyle Group L.P.)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease LEASE by TenantTENANT: (a) Failure The failure by TENANT to make in the due and punctual any payment of any rent, RENT or in the payment of any other sums payment required to be paid made by Tenant under this Lease TENANT hereunder, as and when and as the same due, where such failure shall become due and payablecontinue for a period of ten (10) business days after LANDLORD notifies TENANT in writing of such failure; or (b) Failure The failure by Tenant TENANT to observe or perform of or compliance with any of the covenants, agreementsconditions or provisions of this LEASE to be observed or performed by TENANT, terms or conditions contained in this Lease other than those referred to in the foregoing subdivisions (a)payment of sums due hereunder, and the continuation of where such default failure shall continue for a period of twenty (20) days after written notice thereof from LANDLORD to TENANT; provided, however, that if the nature of TENANT’s default is such that more than twenty (20) days are reasonably required for its cure, then TENANT shall not be deemed to be in default if TENANT commences such cure within such twenty (20) day period and thereafter diligently pursues such cure to completion. (c) The commencement of a case under any chapter of the Federal Bankruptcy Code by or against TENANT or any guarantor of TENANT’s obligations hereunder, or the filing of a voluntary or involuntary petition proposing the adjudication of, TENANT or any such guarantor as bankrupt or insolvent, or the reorganization of TENANT or an arrangement by TENANT or any such guarantor with its creditors, unless the petition is filed or case commenced by a party other than TENANT or any such guarantor and is withdrawn or dismissed within thirty (30) days after written notice thereof form Landlord the date of its filing. (d) The admission in writing by TENANT or any such guarantor of its inability to Tenant pay its debts when due. (providede) The appointment of a receiver or trustee for the business or property of TENANT or any such guarantor, that if Tenant proceeds with due diligence during unless such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so appointment shall be extended for such additional period as shall be necessary to cure the same); orvacated within ten (10) days of its entry. (cf) The filing making by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all TENANT or any substantial part such guarantor of its properties, or the making by Tenant of any general an assignment for the benefit of its creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other statute, law or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if in any trusteeother manner, receiver or liquidator of Tenant, or of all or any substantial part of its properties, TENANT’s interest in this LEASE shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the pass to another by option of the Landlord shall expire and terminatelaw. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on (g) The vacating or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder abandonment of the term and all other damages incurred PREMISES by Landlord by reason of Tenant's default, including but not limited to any TENANT for ten (10) or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singularmore consecutive days. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Interlocal Agreement (Lease)

TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder: (a) Failure Tenant fails to make in the pay when due and punctual payment any installment of any rent, or in the payment Rent within three (3) business days following Tenant’s receipt of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payablewritten notice of such overdue amount; or (b) Failure Tenant 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, 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 perform of or compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred commence to in the foregoing subdivisions (a)remedy such failure within said 30 days, and the continuation of thereafter diligently prosecute to completion all steps necessary to remedy such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provideddefault, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure provided in all events the same is completed within the said thirty (30) 90 days, its time to do so shall be extended for such additional period as shall be necessary to cure the same); or (c) The filing if Landlord applies or retains any part of the security held by it hereunder, and Tenant of 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 or retained, as applicable; or (d) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, 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 statute or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) dayslaw, or if 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 all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence of Landlord and such appointment shall remain unvacated approving a petition filed against Tenant seeking reorganization or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights arrangement of Tenant under this Lease at the option bankruptcy laws of the Landlord shall expire and terminate. SECTION 19.02. Upon United States, as now in effect or hereafter amended, or any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment or otherwisestate thereof, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of terminationorder, Landlord judgment or decree shall not be entitled to accelerate the rent to recover vacated or set aside or stayed within 60 days from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by entry thereof. The notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, periods provided herein are in recordable form, confirming such assignment and transferlieu of, and in the event that Tenant shall fail or refuse to execute, acknowledge or deliver such instrument, Landlord, not in addition to to, any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacitynotice periods provided by law. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry" or "reentry", as used in this Lease, are not restricted to their technical legal meaning.

Appears in 1 contract

Samples: Lease Agreement (Achieve Life Sciences, Inc.)

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