Common use of Adequate Assurance of Future Performance Clause in Contracts

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's gross revenues in the ordinary course of business during the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment of Base Annual Rent and Additional Rent due under this Lease; (ii) both the average and median of Tenant's gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments of Base Annual Rent and Additional Rent due under this Lease; (iii) Tenant must pay (and continue to pay on a timely basis throughout the Lease Term) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to the performance of Landlord's obligations hereunder; (iv) the Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complex; (v) the Trustee must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complex.

Appears in 3 contracts

Samples: Lease and Lease Extension Agreement (Otg Software Inc), Quadramed Corp, Net2000 Communications Inc

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Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that the phrase "adequate assurance of future performance", as that term is used in Section 11.2(d) abovethis Paragraph 16(b), shall mean that all of the following minimum criteria must be met: ; (iA) Tenant's gross revenues in the ordinary course of business during Trustee must pay to Landlord, at the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than time the next installment payment of Base Annual Rent and Additional Rent rent is then due under this Lease; (ii) both the average and median , in addition to such payment of Tenant's gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than rent, an amount equal to the next six three (63) installments of Base Annual Rent and Additional Rent months rent due under this Lease, said amount to be held by Landlord in escrow until either the Trustee or Tenant defaults in its payments of rent or other obligations under this Lease (whereupon Landlord shall have the right to draw upon such escrowed funds) or until the expiration of this Lease (whereupon the funds shall be returned to the Trustee or Tenant); (iiiB) the Tenant or Trustee must agree to pay to Landlord, at any time the Landlord is authorized to and does draw upon the funds escrowed pursuant to subparagraph (A) above, the amount necessary to restore such escrow account to the original level required by said provision; (C) Tenant must pay the cost of all services, if any, provided by Landlord for which Tenaxx xx charged other than pursuant to Paragraph 3 hereof (whether directly or through agents or contractors, and continue whether or not the cost of such services is to pay on a timely basis throughout the Lease Termbe passed through to Tenant) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (ivD) the Trustee must agree that Tenant's business Tenaxx'x xusiness shall be conducted in a first class manner, and that no liquidating liquidation sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complexpremises; (vE) the Trustee must agree that the use of the Demised Premises premises as stated in this Lease will remain unchanged and that no prohibited use shall be permittedunchanged; and (viF) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or ComplexBuilding. * Nothwithstanding any provision of this Lease Agreement, Tenant shall not be prevented from making a separate claim or cause of action which Tenant may have directly against the condemming authority and which Tenaxx xx able to pursue without interfering with Landxxxx'x xlaim or cause of action and without eliminating Landxxxx'x xight to Landxxxx'x xward.

Appears in 1 contract

Samples: Agreement (Mason George Bankshares Inc)

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's gross revenues in the ordinary course of business during the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment of Base Annual Rent and Additional Rent due under this Lease; (ii) both the average and median of Tenant's gross revenues revenues) in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments of Base Annual Rent and Additional Rent due under this Lease; (iii) Tenant must pay (and continue to pay on a timely basis throughout the Lease Term) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to the performance of Landlord's obligations hereunder; (iv) the Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complex; (v) the Trustee must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complex.

Appears in 1 contract

Samples: Work Agreement (Techteam Global Inc)

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that the phrase "adequate assurance of future performance", as that term is used in Section 11.2(d) abovethis paragraph 16(b), shall mean that all of the following minimum criteria must be met: (iA) Tenant's gross revenues in the ordinary course of business during Trustee must pay to Landlord, at the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than time the next installment payment of Base Annual Rent and Additional Rent rent is then due under this Lease; (ii) both the average and median , in addition to such payment of Tenant's gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than rent, an amount equal to the next six three (63) installments of Base Annual Rent and Additional Rent months rent due under this Lease, said amount to be held by Landlord in escrow until either the Trustee or Tenant defaults in its payments of rent or other obligations under this Lease (whereupon Landlord shall have the right to draw upon such escrowed funds) or until the expiration of this Lease (whereupon the funds shall be returned to the Trustee or Tenant); (iiiB) the Tenant or Trustee must agree to pay to Landlord, at any time the Landlord is authorized to and does draw upon the funds escrowed pursuant to subparagraph (A) above, the amount necessary to restore such escrow account to the original level required by said provision; (C) Tenant must pay the cost of all services, if any, provided by Landlord for which Tenaxx xx charged other than pursuant to paragraph 3 hereof (whether directly or through agents or contractors, and continue whether or not the cost of such services is to pay on a timely basis throughout the Lease Termbe passed through to Tenant) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (ivD) the Trustee must agree that Tenant's business Tenaxx'x xusiness shall be conducted in a first class manner, and that no liquidating liquidation sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complexpremises; (vE) the Trustee must agree that the use of the Demised Premises premises as stated in this Lease will remain unchanged and that no prohibited use shall be permittedunchanged; and (viF) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complex.Building. JACo rev. 4-2-81

Appears in 1 contract

Samples: Agreement (Mason George Bankshares Inc)

Adequate Assurance of Future Performance. Landlord Lessor and Tenant Lessee hereby agree in advance that the phrase "adequate assurance of future performance, as that term is ." As used in Section 11.2(d) abovethis Subparagraph 21(d)(ii), shall mean that all of the following minimum criteria must be met: (ia) Tenant's gross revenues in the ordinary course of business during Trustee must pay to Lessor, at the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than time the next installment payment of Base Annual Rent and Additional Rent rent is then due under this Lease; (ii) both the average and median , in addition to such payment of Tenant's gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than rent, an amount equal to the next six three (63) installments of Base Annual Rent and Additional Rent months rent due under this Lease, said amount to be held by Lessor in escrow until either the Trustee or Lessee defaults in its payments of rent or other obligations under this Lease (whereupon Lessor shall have the right to draw upon such escrowee funds) or until the expiration of this Lease (whereupon the funds shall be returned to Trustee or Lessee); (iiib) Tenant the Lessee or Trustee must agree to pay to Lessor, at any time the Lessor is authorized to and does draw upon the funds escrowee pursuant to this Subparagraph 21(d)(ii), the amount necessary to restore such escrow account to the original level required by said provision; [copyright] Lessee must pay the cost of all services, if any, provided by Lessor for which Lessee is charged (whether directly or through agents or contractors, and continue whether or not the cost of such services is to pay on a timely basis throughout the Lease Termbe passed through to Lessee) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (ivd) the Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating liquidation sales, auctions, or other non-first class business operations shall not be conducted on or about the Demised Premises, Building and/or ComplexPremises without Lessor's prior written approval; (ve) the Trustee must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permittedunchanged; and (vif) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants Lessees in the Building and/or ComplexBuilding.

Appears in 1 contract

Samples: Oakbrook Place Lease Agreement (Colorocs Information Technologies Inc)

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d¶16(b)(v) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's gross revenues in A)the Trustee must pay to Landlord at the ordinary course of business during the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than time the next installment payment of Base Annual Rent and Additional Rent rent is then due under this Lease; (ii) both the average and median , in addition to such payment of Tenant's gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than rent, an amount equal to the next six (6) installments payment of Base Annual Rent and Additional Rent rent due under this Lease, or the next three (3) months rent due under this Lease, whichever is greater, said amount to be held by Landlord in escrow until either the Trustee or Tenant defaults in its payments of rent or other obligations under this Lease (whereupon Landlord shall have the right to draw such escrowed funds) or until the expiration or this Lease (whereupon the funds shall be returned to the Trustee or Tenant); (iiiB) The Tenant or Trustee must agree to pay to Landlord, at any time the Landlord is authorized to and does draw on the funds escrowed pursuant to ¶16(b)(vi)(A( above, the amount necessary to restore such escrow account to the original level required by said provision; (C) Tenant must pay its estimated pro rata share of the coat of all services provided by Landlord (whether directly or through agents or contractors, and continue whether or not the cost of such services is to pay on a timely basis throughout the Lease Termbe passed through to Tenant) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (ivD) the The Trustee must agree that Tenant's ’s business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complexpremises; (vE) the The Trustee must agree that the use of the Demised Premises premises as stated in this Lease will remain unchanged and that no prohibited use shall be permittedunchanged; and (viF) the The Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or ComplexBuilding.

Appears in 1 contract

Samples: Agreement of Lease (SunGard Availability Inc.)

Adequate Assurance of Future Performance. Landlord and Tenant hereby ----------------------------------------- agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's gross revenues in the ordinary course of business during the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment of Base Annual Rent and Additional Rent due under this Lease; (ii) both the average and median of Tenant's gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments of Base Annual Rent and Additional Rent due under this Lease; (iii) Tenant must pay (and continue to pay on a timely basis throughout the Lease Term) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to the performance of Landlord's obligations hereunder; (iv) the Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complex; (v) the Trustee must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complex.and

Appears in 1 contract

Samples: Cais Internet Inc

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum minimium criteria must be met: (i) Tenant's gross revenues receipts in the ordinary course of business during the thirty (30) thirty-day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment payment of Base Annual Rent and Additional Rent rent due under this Lease; (ii) both Both the average and median of Tenant's gross revenues receipts in the ordinary course of business during the six (6) six-month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments payment of Base Annual Rent and Additional Rent rent due under this Lease; (iii) Tenant must pay its estimated pro rata share of cost of all services provided by Landlord (whether directly or through agents or contractors and continue to pay on a timely basis throughout whether or not previously included as part of the Lease Term) Base Annual Rentbase rent), Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (iv) the The Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complexpremises; (v) the The Trustee must agree that the use of the Demised Premises premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the The Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complexbuilding.

Appears in 1 contract

Samples: Lease and Lease Extension Agreement (Otg Software Inc)

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(dsubparagraph 21 (b)(vi) above, shall mean that all of the following minimum criteria must be met: (ia) Tenant's gross revenues in the ordinary course of business during Trustee or Tenant must pay to Landlord, at the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than time the next monthly installment of Base Annual Rent and Additional Rent rent is due under this Lease, in addition to such monthly installment of rent, an amount equal to the total amount of monthly installments of rent payable under this Lease for the three months immediately following, and Landlord shall hold said amount in escrow until either the Trustee or Tenant defaults in its payments of rent under this Lease (whereupon Landlord shall have the right to apply funds held in escrow to any deficiency in Tenant's rent account) or until the expiration of this Lease (whereupon such funds shall be returned to the Trustee or Tenant); (iib) both the average Tenant or Trustee must agree to pay to Landlord, at any time the Landlord is authorized to and median of Tenant's gross revenues in does apply the ordinary course of business during funds as escrowed, the six (6) month period immediately preceding amount necessary to restore such escrow account to the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments of Base Annual Rent and Additional Rent due under original level required by this Leasesubparagraph; (iii) Tenant must pay (and continue to pay on a timely basis throughout the Lease Term) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to the performance of Landlord's obligations hereunder; (ivc) the Trustee must agree that Tenant's business shall be conducted in a first first-class manner, manner and that no liquidating sales, sale auctions, or other non-first first-class business operations operation shall be conducted on or about in the Demised Premises, Building and/or Complex; (vd) the Trustee trustee or Tenant must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permittedunchanged; and (vie) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or ComplexBuilding. For the purpose of this subparagraph, the term "monthly installment of rent" shall mean the total of monthly installments of Base Annual Rent and Additional Rent for a month under this Lease.

Appears in 1 contract

Samples: Exigent International Inc

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's ’s gross revenues in the ordinary course of business during the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment of Base Annual Rent and Additional Rent due under this Lease; (ii) both the average and median of Tenant's ’s gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments of Base Annual Rent and Additional Rent due under this Lease; (iii) Tenant must pay (and continue to pay on a timely basis throughout the Lease Term) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to the performance of Landlord's ’s obligations hereunder; (iv) the Trustee must agree that Tenant's ’s business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complex; (v) the Trustee must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complex.

Appears in 1 contract

Samples: Office Building Lease (TRX Inc/Ga)

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's ’s gross revenues in the ordinary course of business during the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment of Base Annual Rent and Additional Rent due under this Lease; , (ii) both the average and an median of Tenant's ’s gross revenues revenues) in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments of Base Annual Rent and Additional Rent due under this Lease; (iii) Tenant must pay (and continue to pay on a timely basis throughout the Lease Term) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to the performance of Landlord's ’s obligations hereunder; (iv) the Trustee must agree that Tenant's ’s business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complex; (v) the Trustee must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complex.

Appears in 1 contract

Samples: Office Building Lease (Spherix Inc)

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Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's gross revenues receipts in the ordinary course of business during the thirty (30) thirty-day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment payment of Base Annual Rent and Additional Rent rent due under this Lease; (ii) both Both the average and median of Tenant's gross revenues receipts in the ordinary course of business during the six (6) six-month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments payment of Base Annual Rent and Additional Rent rent due under this Lease; (iii) Tenant must pay its estimated pro rata share of cost of all 16 services provided by Landlord (whether directly or through agents or contractors and continue to pay on a timely basis throughout whether or not previously included as part of the Lease Term) Base Annual Rentbase rent), Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (iv) the The Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complexpremises; (v) the The Trustee must agree that the use of the Demised Premises premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the The Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complexbuilding.

Appears in 1 contract

Samples: Template Software Inc

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum criteria must be met: ; (i) Tenant's ’s gross revenues in the ordinary course of business during the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment of Base Annual Rent and Additional Rent Rant due under this Lease; (ii) both the average and median of Tenant's ’s gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments of Base Annual Rent and Additional Rent due under this Lease; (iii) Tenant must pay (and continue to pay on a timely basis throughout the Lease Term) Base Annual Rent, Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to the performance of Landlord's ’s obligations hereunder; (iv) the Trustee must agree that Tenant's ’s business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complex; (v) the Trustee must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complex.

Appears in 1 contract

Samples: Office Building Lease (Micromet, Inc.)

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(dsection 13.2(d) above, shall mean that all of the following minimum criteria must be met: (iI) Tenant's gross revenues receipts in the ordinary course of business during the thirty (30) day 30)-day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment payment of Base Annual Rent and Additional Rent rent due under this Lease; (ii) both Both the average and median of Tenant's gross revenues receipts in the ordinary course of business during the six (6) month 6)-month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments payment of Base Annual Rent and Additional Rent rent due under this the Lease; (iii) Tenant must pay its estimated pro rata share of the cost of all services provided by Landlord (whether directly or thought agents or contractors and continue to pay on a timely basis throughout whether or not previously included as part of the Lease Term) Base Annual Rentbase rent), Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (iv) the The Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complexpremises; (v) the The Trustee must agree that the use of the Demised Premises premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; : and (vi) the Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or ComplexBuilding.

Appears in 1 contract

Samples: Lease (Franklin Bancorporation Inc)

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section section 11.2(d) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's gross revenues receipts in the ordinary course of business during the thirty (30) thirty-day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment payment of Base Annual Rent and Additional Rent rent due under this Lease; (ii) both Both the average and median of Tenant's gross revenues receipts in the ordinary course of business during the six (6) six-month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments payment of Base Annual Rent and Additional Rent rent due under this Lease; (iii) Tenant must pay its estimated pro rata share of the cost of all services provided by Landlord (whether directly or through agents or contractors and continue to pay on a timely basis throughout whether or not previously included as part of the Lease Term) Base Annual Rentbase rent), Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (iv) the The Trustee must agree that TenantXxxxxx's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complexpremises; (v) the The Trustee must agree that the use of the Demised Premises premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the The Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complexbuilding.

Appears in 1 contract

Samples: Lease Extension Agreement (Sherwood Brands Inc)

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d) above, shall mean that all of the following minimum criteria must be met: (i) Tenant's gross revenues receipts in the ordinary course of business during the thirty (30) thirty-day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next installment payment of Base Annual Rent and Additional Rent rent due under this Lease; (ii) both Both the average and median of Tenant's gross revenues receipts in the ordinary course of business during the six (6) six-month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than the next six (6) installments payment of Base Annual Rent and Additional Rent rent due under this Lease; (iii) Tenant must pay its estimated pro rata share of cost of all services provided by Landlord (whether directly or through agents or contractors and continue to pay on a timely basis throughout whether or not previously included as part of the Lease Term) Base Annual Rentbase rent), Additional Rent and all other sums payable by Tenant hereunder in advance and as a condition precedent to of the performance or provision of Landlord's obligations hereundersuch services; (iv) the The Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complexpremises; (v) the The Trustee must agree that the use of the Demised Premises premises as stated in this Lease will remain unchanged and that no prohibited use shall be permitted; and (vi) the The Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or Complexbuilding.

Appears in 1 contract

Samples: Techteam Global Inc

Adequate Assurance of Future Performance. Landlord and Tenant hereby agree in advance that adequate assurance of future performance, as that term is used in Section 11.2(d27.1 (2) (v) above, shall mean that all of the following minimum criteria must be met: (iA) Tenant's gross revenues in The Trustee must pay to Landlord, at the ordinary course of business during the thirty (30) day period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than time the next installment payment of Base Annual Rent and Additional Rent is then due under this Lease; (ii) both the average and median , in addition to such payment of Tenant's gross revenues in the ordinary course of business during the six (6) month period immediately preceding the initiation of the case under the Bankruptcy Code must be at least two (2) times greater than Rent, an amount equal to the next six three (63) installments of Base Annual months Rent and Additional Rent due under this Lease, said amount to be held by Landlord in escrow until either the Trustee or Tenant defaults in its payment of Rent or other obligations under this Lease (whereupon Landlord shall have the right to draw such escrowed funds) or until the expiration of this Lease (whereupon the funds shall be returned to the Trustee or Tenant); (iiiB) The Tenant or Trustee must agree to pay to the Landlord, at any time the Landlord is authorized to and does draw on the funds escrowed the amount necessary to restore such escrow account to the original level required by said provision; (C) Tenant must pay (and continue to pay on a timely basis throughout its estimate pro-rata share of the Lease Term) Base Annual Rent, Additional Rent and cost of all other sums payable services provided by Tenant hereunder Landlord in advance and as a condition precedent to advances of the performance or provision of Landlord's obligations hereundersuch services; (ivD) the The Trustee must agree that Tenant's business shall be conducted in a first class manner, and that no liquidating sales, auctions, or other non-first class business operations shall be conducted on or about the Demised Premises, Building and/or Complex; (vE) the The Trustee must agree that the use of the Demised Premises as stated in this Lease will remain unchanged and that no prohibited use shall be permittedunchanged; and (viF) the The Trustee must agree that the assumption or assignment of this Lease will not violate or affect the rights of other tenants in the Building and/or ComplexBuilding.

Appears in 1 contract

Samples: Lease (Paytrust Inc)

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