Common use of Bankruptcy or Insolvency Clause in Contracts

Bankruptcy or Insolvency. (a) If Lessee shall become a debtor in a case filed under Chapter 7 or Chapter 11 of the Bankruptcy Code and Lessee or Lessee’s trustee shall fail to elect to assume this Lease within sixty (60) days after the filing of such petition or such additional time as provided by the court within such sixty (60) day period, this Lease shall be deemed to have been rejected. Immediately thereupon, Lessor shall be entitled to possession of the Premises without further obligation to Lessee or Lessee’s trustee, and this Lease, upon the election of Lessor, shall terminate, but Lessor’s right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.

Bankruptcy or Insolvency. (ai) If Lessee shall become a debtor in a case filed under Chapter 7 or Chapter 11 of the Bankruptcy Code and Lessee or Lessee’s 's trustee shall fail to elect to assume this Lease within sixty (60) 60 days after the filing of such petition or such additional time as provided by the court within such sixty (60) day periodcourt, this Lease shall be deemed to have been rejected. Immediately thereupon, Lessor shall be entitled to possession of the Premises without further obligation to Lessee or Lessee’s 's trustee, and this Lease, upon the election of Lessor, shall terminate, but Lessor’s 's right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.

Bankruptcy or Insolvency. (a) If Lessee shall become a debtor in a case filed under Chapter 7 or Chapter 11 of the Bankruptcy Code and Lessee or Lessee’s 's trustee shall fail to elect to assume this Lease within sixty (60) 60 days after the filing of such petition or such additional time as provided by the court within such sixty (60) -day period, this Lease shall be deemed to have been rejected. Immediately thereupon, Lessor shall be entitled to possession of the Premises without further obligation to Lessee or Lessee’s 's trustee, and this Lease, upon the election of Lessor, shall terminate, but Lessor’s 's right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.

Bankruptcy or Insolvency. (a) If Lessee shall become a debtor in a case filed under Chapter 7 or Chapter 11 of the Bankruptcy Code and Lessee or Lessee’s 's trustee shall fail to elect to assume this Lease within sixty (60) 60 days after the filing of such petition or such additional time as provided by the court within such sixty (60) -day period, this Lease shall be deemed to have been rejected. Immediately thereupon, Lessor shall be entitled to possession of the Premises without further obligation to Lessee or Lessee’s 's trustee, and this Lease, upon the election of Lessor, shall terminate, but Lessor’s 's right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.

Bankruptcy or Insolvency. (a) If Lessee shall become a debtor in a case filed under Chapter 7 or Chapter 11 of the Bankruptcy Code and Lessee or Lessee’s trustee shall fail to elect to assume this Lease within sixty (60) 60 days after the filing of such petition or such additional time as provided by the court within such sixty (60) -day period, this Lease shall be deemed to have been rejected. Immediately thereupon, Lessor shall be entitled to possession of the Premises without further obligation to Lessee or Lessee’s trustee, and this Lease, upon the election of Lessor, shall terminate, but Lessor’s right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.

Bankruptcy or Insolvency. (a) If Lessee shall become a debtor in a case filed under Chapter 7 or Chapter 11 of the Bankruptcy Code and Lessee or Lessee’s 's trustee shall fail to elect to assume this Lease within sixty (60) days after the filing of such petition or to such additional time as provided by the court within such sixty (60) day period, this Lease shall be deemed to have been rejected. Immediately thereupon, thereupon Lessor shall be entitled to possession of the Premises without further obligation to Lessee or Lessee’s trustee, 's trustee and this Lease, Lease upon the election of Lessor, Lessor shall terminate, but Lessor’s 's right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.

Bankruptcy or Insolvency. (a) If Lessee Tenant shall become a debtor in a case filed under Chapter 7 or Chapter 11 of the Bankruptcy Code and Lessee Tenant or LesseeTenant’s trustee shall fail to elect to assume this Lease within sixty (60) days after the filing of such petition or such additional time as provided by the court within such sixty (60) -day period, this Lease shall be deemed to have been rejected. Immediately thereupon, Lessor Landlord shall be entitled to possession of the Premises without further obligation to Lessee Tenant or LesseeTenant’s trustee, and this Lease, upon the election of LessorLandlord, shall terminate, but LessorLandlord’s right to be compensated for damages (including, without limitation, liquidated damages pursuant to any provision hereof) or the exercise of any other remedies in any such proceeding shall survive, whether or not this Lease shall be terminated.