Common use of Tenant’s Obligation to Avoid Creditors’ Proceedings Clause in Contracts

Tenant’s Obligation to Avoid Creditors’ Proceedings. Tenant or Tenant's Guarantor, if any, shall not cause or give cause for the institution of legal proceedings seeking to have Tenant or Tenant's Guarantor, if any, adjudicated bankrupt, reorganized, or rearranged under the Bankruptcy laws of the United States, and shall not cause or give cause for the appointment of a trustee or receiver for the assets of Tenant or Tenant's Guarantor, if any, and shall not make any assignment for the benefit of creditors, or become or be adjudicated insolvent. The allowance of any petition under the bankruptcy law, or the appointment of a trustee or receiver of Tenant or Tenant's Guarantor, if any, or its assets, shall be conclusive evidence that Tenant caused, or gave cause therefor, unless such allowance of the petition, or the appointment of a trustee or receiver, is vacated within thirty (30) days after such allowance or appointment. Any act described in this Section 25.3 shall be deemed a material breach of Tenant's obligation hereunder, and upon such breach by Tenant, Landlord may, at its option, and in addition to any other remedy hereunder, terminate this Lease by giving Tenant notice in writing of the election of Landlord to so terminate.

Tenant’s Obligation to Avoid Creditors’ Proceedings. Tenant or Tenant's Guarantor’s guarantor, if any, shall not cause or give cause for the institution of legal proceedings seeking to have Tenant or Tenant's Guarantor, if any, adjudicated bankrupt, reorganized, or rearranged under the Bankruptcy laws of the United States, and shall will not cause or give cause for the appointment of a trustee or receiver for of the assets of Tenant or Tenant's Guarantor’s guarantor, if any, and shall will not make any assignment for the benefit of creditors, or become or be adjudicated insolvent. The allowance of any petition under insolvency law, except under the bankruptcy lawCode, or the appointment of a trustee or a receiver of Tenant or Tenant's Guarantor’s guarantor, if any, or its assetsof the assets of either of them, shall will be conclusive evidence that Tenant caused, or gave cause therefor, unless such allowance of the petition, or the appointment of a trustee or a receiver, is vacated within thirty sixty (3060) days after such allowance or appointment. Any act or occurrence described in this Section 25.3 shall will be deemed a material breach of Tenant's obligation Xxxxxx’s obligations hereunder, and upon such breach as providing Landlord with the right to elect by Tenant, Landlord may, at its option, and in addition written notice to any other remedy hereunder, Tenant to terminate this Lease by giving and all rights of Tenant notice hereunder, and Xxxxxx will vacate and surrender the Premises but will remain liable as herein provided. In addition, Landlord hereby reserves any and all other rights and remedies available to it hereunder, at law, and/or in writing of the election of Landlord to so terminateequity.

Tenant’s Obligation to Avoid Creditors’ Proceedings. Tenant or Tenant's Guarantor, if any, shall not cause or give cause for the institution of legal proceedings seeking to have Tenant or Tenant's Guarantor, if any, adjudicated bankrupt, reorganized, or rearranged under the Bankruptcy laws of the United States, and shall not cause or give cause for the appointment of a trustee or receiver for of the assets of Tenant or Tenant's Guarantor, if any, and shall not make any assignment for the benefit of creditors, or become or be adjudicated insolvent. The allowance of any petition under any insolvency law, except under the bankruptcy lawBankruptcy Code, or the appointment of a trustee or receiver of Tenant or Tenant's Guarantor, if any, or its assetsof the assets of either of them, shall be conclusive evidence that Tenant caused, or gave cause cause, therefor, unless such allowance of the petition, or the appointment of a trustee or receiver, is vacated within thirty (30) days after such allowance or appointment. Any act described in this Section 25.3 20.3 shall be deemed a material breach of Tenant's obligation obligations hereunder, and upon such breach by Tenant, Landlord may, at its option, and in addition to any other remedy hereunder, terminate this Lease by giving Tenant notice shall thereupon automatically terminate. Landlord does, in writing of the election of Landlord to so terminateaddition, reserve any and all other remedies provided in this Lease and under all laws.

Tenant’s Obligation to Avoid Creditors’ Proceedings. Tenant or Tenant's Guarantor’s guarantor, if any, shall not cause or give cause for the institution of legal proceedings seeking to have Tenant or Tenant's Guarantor, if any, adjudicated bankrupt, reorganized, or rearranged under the Bankruptcy laws of the United States, and shall not cause or give cause for the appointment of a trustee or receiver for of the assets of Tenant or Tenant's Guarantor’s guarantor, if any, and shall not make any assignment for the benefit of creditors, or become or be adjudicated insolvent. The allowance of any petition under insolvency law except under the bankruptcy law, Bankruptcy Code or the appointment of a trustee or receiver of Tenant or Tenant's Guarantor’s guarantor, if any, or its assetsof the assets of either of them, shall be conclusive evidence that Tenant caused, or gave cause therefor, unless such allowance of the petition, or the appointment of a trustee or receiver, is vacated within thirty sixty (3060) days after such allowance or appointment. Any act or occurrence described in this Section 25.3 20.03 shall be deemed a material breach of Tenant's obligation ’s obligations hereunder and shall provide Landlord with the right to elect by written notice to Tenant to terminate this Lease and all rights of Tenant hereunder, and upon such breach by TenantTenant shall vacate and surrender the Premises but shall remain liable as herein provided. Landlord does, Landlord mayin addition, at its option, reserve any and all other remedies provided in addition to any other remedy hereunder, terminate this Lease or by giving Tenant notice in writing of the election of Landlord to so terminatelaw.