Default; Breach. A "Default" is defined as a failure to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, the failure by Lessee to cure such Default prior to the expiration of the applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises accompanied by nonpayment of Base Rent for 14 consecutive days or longer. (b) Except as expressly otherwise provided in this Lease, the failure by Lessee to make any payment of Base Rent or any other monetary payment required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Lease, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing failure continues for a period of five (5) days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the failure by lessee to provide Lessor with reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. (ii) the inspection, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession of an unauthorized assignment or subletting per Paragraph 12.1(b), (iv) a Tenancy Statement per Paragraphs 16 or 37, (v) the subordination or non-subordination of this Lease per Paragraph 30. (vi) the guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. (vii) the execution of any document requested under Paragraph 12 (easements). or (viii) any other documentation or information which Lessor may reasonably require of Losses under the terms of this Lease, where any such failure continues for a period of ten (10) days following written notice by a on behalf of Lessor or Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee: provided, however, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The making by Lessee of any general arrangement or assignment for the benefit of creditors. (ii) Lessee's becoming a "debtor" as deleted in 11 U.S.C. Section 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days): (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty (60) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty (60) days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantor, (ii) the termination of a guarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantor's refusal to honor the guaranty, or (v) a guarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors that existed at the time of execution of this Lease, and such failure is a Breach.
Appears in 1 contract
Samples: William Lyon Homes
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five three (53) business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37Statement, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 42 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 40 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section X.X.X.xx. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty thirty (6030) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty thirty (6030) days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantor, (ii) the termination of a guarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantor's refusal to honor the guaranty, or (v) a guarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors that existed at the time of execution of this Lease, and such failure is a Breach[No text.] 13.2
Appears in 1 contract
Samples: Agouron Pharmaceuticals Inc
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: . (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five three (53) business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37Statement, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 42 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 40 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: . (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty thirty (6030) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty thirty (6030) days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: . (i) the death of a guarantorGuarantor, (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantorGuarantor's refusal to honor the guaranty, or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.. 13.2
Appears in 1 contract
Samples: Sigma Circuits Inc
Default; Breach. A "Default" is Is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party Rules and Regulations under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Promises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described In Paragraph 8.3 Is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment Security Deposit required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee . to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five (5) 3 business days following written notice thereof by or on behalf of Lessor to it) Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (1) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37an Estoppel Certificate, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 41 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) 10 days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to 10 the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 2.9 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) 30 days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Lessees Default is such that more than thirty (30) 30 days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) 30 day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section ss. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) 60 days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest Interest in this Lease, where possession is not restored to Lessee within sixty (60) 30 days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at al the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty (60) 30 days; provided, however, in the event that any provision of this subparagraph (ea) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantorGuarantor, (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantorGuarantor's refusal to honor the guaranty, or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) 60 days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.
Appears in 1 contract
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party Rules and Regulations under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment Security Deposit required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five (5) 3 business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37an Estoppel Certificate, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 41 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) 10 days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 2.9 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) 30 days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) 30 days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) 30 day period and arid thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtorDEBTOR" as deleted defined in 11 U.S.C. Section Sec. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) 60 days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty (60) 30 days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty (60) 30 days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the ofthe remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantorGuarantor, (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantorGuarantor's refusal to honor the guaranty, or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) 60 days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.
Appears in 1 contract
Samples: Newave Inc
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: . (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of y Lessee to make any payment of Base Rent or any other monetary payment required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely surety bond required under this Lease, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five (5) days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with upon request (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspection(deleted), maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37Statement, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 42 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) days following written notice to Lessee. o observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by Lessee, other than described in paragraph (b) above, where such failure shall continue for a on behalf period of 30 days after written notice thereof from Lessor or to Lessee; provided, however, that if the nature of Lessee's default is such that more than 30 days are reasonably required for its cure, then Lessee shall not be deemed to be in default if Lessee commenced such cure within said 30-day period and thereafter diligently prosecutes such cure to completion. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 40 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) 60 days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty (60) 30 days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty thirty (6030) days; provided, however, in the event that any provision of this subparagraph paragraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: ; (i) the death of a guarantor, (ii) the termination of a guarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantor's refusal to honor the guaranty, or (v) a guarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors that existed at the time of execution of this Lease, and such failure is a Breach.)
Appears in 1 contract
Samples: Xoma Corp /De/
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment Security Deposit required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five three (53) business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession recission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37Estoppel Certificate, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 42 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 40 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section X.X.X.xx. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty thirty (6030) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty thirty (6030) days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantorGuarantor, (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantorGuarantor's refusal to honor the guaranty, or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.
Appears in 1 contract
Samples: Global Health Trax Inc
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, or conditions or rules applicable to a party under this Lease, as well as a failure by the Lessee to comply with or perform any of the terms, covenants, obligations or conditions under the "Recycle Agreement" (as defined in Exhibit "B" attached hereto and incorporated herein). A "Breach" breach is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace periodperiod (provided, however, that Lessor shall not be required to provide more than three (3) written notices of Default and shall entitle Lessor to pursue a cure period in any twelve (12) month period during the remedies set forth Term or more than one (1) written notice of Default and a cure period in Paragraphs 13.2 and/or 13.3: the event such Default may adversely affect Lessor's permits and approvals): (a) The abandonment of the Premises accompanied by nonpayment Premises; or the vacating of Base Rent for 14 consecutive days or longerthe Premises. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment Security Deposit required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, where such failure continues for a period of 30 days following written notice to Lessee, or the failure of Lessee to fulfill any obligation under this Lease or the Recycle Agreement which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five (5) 3 business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37an Estoppel Certificate, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. (vii) the execution of any document requested under Paragraph 12 42, (easementsvii) material safety data sheets (MSDS). , or (viii) any other documentation xxxxx xxxxxxxxxxxxn or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) 10 days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), ) above, where such Default continues for a period of thirty (30) 30 days after written notice thereof by (except in the event any such Default may adversely affect Lessor's permits or on behalf of Lessor to Lessee: providedapprovals for its operations, however, that if in which event the nature of Lessee's Default is such that more than thirty period shall be five (305) days are reasonably required for its cure, then it shall not be deemed to be or such shorter period of time set forth in any notice of violation from a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completiongovernmental entity). (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section 101 ss.101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) 60 days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty (60) 30 days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty (60) 30 days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If A Default by Lessee as to the performance terms, covenants, conditions or provisions of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantorRecycle Agreement, (ii) the termination of a guarantor's liability with respect to this Lease other than in accordance with the terms of where such guaranty, (iii) a guarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantor's refusal to honor the guaranty, or (v) a guarantor's breach of its guaranty obligation on an anticipatory breach basis, Default continues beyond any applicable notice and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors that existed at the time of execution of this Lease, and such failure is a Breachcure period.
Appears in 1 contract
Default; Breach. Lessor and Lessee agree that if an attorney is consulted by Lessor in connection with a Lessee Default or Breach (as hereinafter defined), $350.00 is a reasonable minimum sum per such occurrence for legal services and costs in the preparation and service of a notice of Default, and that Lessor may include the cost of such services and costs in said notice as rent due and payable to cure said default. A "Default" by Lessee is defined as a failure by Lessee to observe, comply with or perform any of the terms, . covenants, . conditions or rules applicable to a party Lessee under this Lease. A "Breach" by Lessee is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, the failure by Lessee to cure such Default prior to the expiration of the applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises accompanied by nonpayment of Base Rent for 14 consecutive days or longer. (b) Except as expressly otherwise provided in this Lease, the failure by Lessee to make any payment of Base Rent Rent, Lessee s Share of Common Area Operating Expenses, or any other monetary payment required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, here under -- the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely surety bond required under this Lease, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five ninety (590) days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, Lease the failure by lessee Lessee to provide Lessor with reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law Applicable Requirements per Paragraph 6.3. (ii) the inspection, maintenance and service contracts required under Paragraph 7.1(b7.1 (b). , (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)12. 1, (iv) a Tenancy Statement per Paragraphs 16 or 37, (v) the subordination or non-subordination of this Lease per Paragraph 30. , (vi) the guaranty of the performance of Lessee's obligations under this Lease if it required under Paragraphs 1.11 and 37. (vii) the execution of any document requested under Paragraph 12 42 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Leaselease, where any such failure continues for a period of ten (10) days following written notice by a or on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 hereof, 40 hereof that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs Subparagraphs 13.1 (a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee: Lessee provided, however, that if it the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its curecurs, then it shall not be deemed to be a Breach of this Lease by Lessee, Lessee if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "'debtor" ' as deleted defined in 11 U.S.C. U.S. Code Section 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty thirty (6030) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's Lessees interest in this Lease, where such seizure is not discharged within sixty thirty (6030) days; provided, however, in the event that any provision of this subparagraph Subparagraph 13.1 (e) is contrary to any applicable law, such provision shall be of no force or effect, and shall not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor, given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder Guarantor, was materially false. made (g) If It the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantorGuarantor, (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantorGuarantor's refusal to honor the guaranty, or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or assurances of security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.. 13.2
Appears in 1 contract
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment Security Deposit required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five three (53) business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37Statement, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 42 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 40 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty thirty (6030) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty thirty (6030) days; provided, however, in the event that any provision of this subparagraph 13.1 (ea) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantor, Guarantor; (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, ; (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, ; (iv) a guarantorGuarantor's refusal to honor the guaranty, ; or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.. 13.2
Appears in 1 contract
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment Security Deposit required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five three (53) business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37Statement, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 42 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 40 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs 13.1 (a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section ss. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty thirty (6030) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty thirty (6030) days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteedInitials: (i) the death of a guarantor/s/ TRM, (ii) the termination of a guarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantor's refusal to honor the guaranty, or (v) a guarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors that existed at the time of execution of this Lease, and such failure is a Breach.NB,GWT
Appears in 1 contract
Samples: Hi Shear Technology Corp
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party Rules and Regulations under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment Security Deposit required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five (5) 3 business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37an Estoppel Certificate, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 41 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) 10 days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 2.9 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) 30 days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) 30 days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) 30 day period and arid thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtorDEBTOR" as deleted defined in 11 U.S.C. Section Sec. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) 60 days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty (60) 30 days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty (60) 30 days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the ofthe remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantorGuarantor, (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantorGuarantor's refusal to honor the guaranty, or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) 60 days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.. 13.2
Appears in 1 contract
Samples: Newave Inc
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five three (53) business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iii) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37Statement, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 42 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 40 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) days after written notice thereof by or on behalf of Lessor to Lesseenotice: provided, however, that if the nature of Lessee's Default is such that more than thirty (30) days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section ss. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty thirty (6030) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty thirty (6030) days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantorGuarantor, (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, . (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantorGuarantor's refusal to honor the guaranty, or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.. 13.2
Appears in 1 contract
Samples: Magnetek Inc
Default; Breach. A "Default" is defined as a failure by the Lessee to observe, comply with or perform any of the terms, covenants, conditions or rules applicable to a party Rules and Regulations under this Lease. A "Breach" is defined as the occurrence of any one or more of the following Defaults, and, where a grace period for cure after notice is specified herein, and the failure by of Lessee to cure such Default prior to the expiration of the within any applicable grace period, and shall entitle Lessor to pursue the remedies set forth in Paragraphs 13.2 and/or 13.3: (a) The abandonment of the Premises; or the vacating of the Premises accompanied by nonpayment without providing a commercially reasonable level of Base Rent for 14 consecutive days security, or longerwhere the coverage of the property insurance described in Paragraph B.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. (b) Except as expressly otherwise provided in this Lease, the The failure by of Lessee to make any payment of Base Rent or any other monetary payment Security Deposit required to be made by Lessee hereunder, whether to Lessor or to a third party, as and when due, the failure by Lessee to provide Lessor with reasonable evidence of insurance or surely bond required under this Leasesurety bond, or the failure of Lessee to fulfill any obligation under this Lease which endangers or threatens the life or property, where any other foregoing such failure continues for a period of five (5) 3 business days following written notice thereof by or on behalf of Lessor to Lessee. (c) Except as expressly otherwise provided in this Lease, the The failure by lessee Lessee to provide Lessor with (i) reasonable written evidence (in duly executed original form, if applicable) of (i) compliance with applicable law per Paragraph 6.3. Applicable Requirements, (ii) the inspectionservice contracts, maintenance and service contracts required under Paragraph 7.1(b). (iiiHi) the recession rescission of an unauthorized assignment or subletting per Paragraph 12.1(b)subletting, (iv) a Tenancy Statement per Paragraphs 16 or 37an Estoppel Certificate, (v) the subordination or non-subordination of this Lease per Paragraph 30. a requested subordination, (vi) the evidence concerning any guaranty of the performance of Lessee's obligations under this Lease if required under Paragraphs 1.11 and 37. and/or Guarantor, (vii) the execution of any document requested under Paragraph 12 41 (easements). , or (viii) any other documentation or information which Lessor may reasonably require of Losses Lessee under the terms of this Lease, where any such failure continues for a period of ten (10) 10 days following written notice by a on behalf of Lessor or to Lessee. (d) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 10 2.9 hereof, that are to be observed, complied with or performed by Lessee, other than those described in subparagraphs (a13.1(a), (b) or (c), above, where such Default continues for a period of thirty (30) 30 days after written notice thereof by or on behalf of Lessor to Lessee: notice; provided, however, that if the nature of Lessee's Default is such that more than thirty (30) 30 days are reasonably required for its cure, then it shall not be deemed to be a Breach of this Lease by Lessee, if Lessee commences such cure within said thirty (30) 30 day period and thereafter diligently prosecutes such cure to completion. (e) The occurrence of any of the following events: (i) The the making by Lessee of any general arrangement or assignment for the benefit of creditors. ; (ii) Lessee's becoming a "debtor" as deleted defined in 11 U.S.C. Section ss. 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within sixty (60) 60 days): ); (iii) the appointment of a trustee or receiver to take possession of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where possession is not restored to Lessee within sixty (60) 30 days; or (iv) the attachment, execution or other judicial seizure of substantially all of Lessee's assets located at the Premises or of Lessee's interest in this Lease, where such seizure is not discharged within sixty (60) 30 days; provided, however, in the event that any provision of this subparagraph (e) is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. (f) The discovery by Lessor that any financial statement of Lessee or of any Guarantor given to Lessor by Lessee or any Guarantor of Lessee's obligations hereunder was materially false. (g) If the performance of Lessee's obligations under this Lease is guaranteed: (i) the death of a guarantorGuarantor, (ii) the termination of a guarantorGuarantor's liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantorGuarantor's becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantorGuarantor's refusal to honor the guaranty, or (v) a guarantorGuarantor's breach of its guaranty obligation on an anticipatory breach basis, and Lessee's failure, within sixty (60) 60 days following written notice by or on behalf of Lessor to Lessee of any such event, to provide Lessor with written alternative assurance or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the guarantors Guarantors that existed at the time of execution of this Lease, and such failure is a Breach.. 13.2
Appears in 1 contract
Samples: Freehand Information Systems, Inc.
