Common use of Default by Lessee Clause in Contracts

Default by Lessee. (a) If Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.

Appears in 3 contracts

Samples: Lease Agreement (Beasley Broadcast Group Inc), Lease Agreement (Beasley Broadcast Group Inc), Lease Agreement (Beasley Broadcast Group Inc)

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Default by Lessee. If default shall be made in the payment of any sum to be paid by Lessee under this Lease, and default shall continue for ten (a10) If days, or default shall be made in the performance of any of the other covenants or conditions which Lessee shall make default in making any payment herein provided for is required to observe and any to perform, and such default shall continue for twenty (20) days, or if the interest of Lessee under this Lease shall be levied on under execution or other legal process, or if any petition shall be filed by or against Lessee to declare Lessee a period bankrupt or to delay, reduce or modify Lessee’s debt or obligations, or if any petition shall be filed or other action taken to reorganize or modify Lessee’s capital structure if Lessee be a corporation or other entity, or if Lessee be declared insolvent according to law, or if any assignment of ten (10) business days after written notice to Lessee’s property shall be made for the benefit of creditors, or if a receiver or trustee is appointed for Lessee or its property, or if Lessee shall make default abandon or vacate the Premises during the term of this lease or any renewals or extensions thereof, or if Lessee is a corporation and Lessee shall cease to exist as a corporation in good standing under the performance laws of the State of Texas or if Lessee is a partnership or other entity and shall be dissolved or otherwise liquidated, then Lessor may treat the occurrence of any obligation one or more of the foregoing events as a breach of this lease (provided that no such levy, execution, legal process or petition filed against Lessee herein (other than as to payment shall constitute a breach of money) this Lease if Lessee shall vigorously contest the same by appropriate proceedings and any such default shall continue for a period of remove or vacate the same within thirty (30) days after written notice to Lesseefrom the date of its creation, service or if Lessee shall file a voluntary petition in bankruptcyfiling) and thereupon, at Lessor’s option, may have any one or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days more of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, following described remedies in addition to any all other remedy provided by rights and remedies available at law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.equity:

Appears in 2 contracts

Samples: Lease Agreement (Dexterity Surgical Inc), Lease Agreement (Dexterity Surgical Inc)

Default by Lessee. (a) If the Lessee shall make default fails to pay the rent when due or defaults in making the performance of the agreements, conditions, covenants or terms contained herein, then the Lessor may enforce performance of this lease in any payment herein of the modes provided for by law; and any this lease may be forfeited at Lessor's option if such default shall continue continues for a period of ten (10) business days after written the Lessor notifies the Lessee of such default and of its intention to declare the lease forfeited; and thereafter (unless the Lessee shall have completely removed or cured said default) this lease shall cease and come to an end as if that were the day originally fixed herein for the expiration of the term; and the Lessor, its agent, attorney or those claiming under it, shall have the right, without further notice or demand, to re-enter and remove all persons and all of the Lessee's property therefrom without being deemed guilty in any manner of trespass and without prejudice to any remedies for arrears of rent or breach of covenant. If any of the events described in the preceding paragraph should occur and Lessor resumes possession of the premises, then Lessor may re-lease the premises for the remainder of the term at the best rent the Lessor may obtain, and Lessee agrees that, notwithstanding the termination of this lease and possession regained by the Lessor, Lessee will indemnify the Lessor against any and all loss of rent which the Lessor may sustain during the remainder of the term of the lease by reason of such termination. The Lessor shall have a statutory lessor's lien and in addition, Lessor is given an express lien as security for the rent described herein upon all the chattels, implements, fixtures, furniture, tools, machinery, or if other personal property which the Lessee now or at any time during the term of the lease may place upon the demised premises. If on account of any breach or default by the Lessee of any of Lessee's obligations contained herein it shall make become necessary for the Lessor to employ an attorney to enforce or defend any of the Lessor's rights or remedies hereunder, then Lessor shall be entitled to recover a reasonable attorney's fee from the Lessee. In the event the Lessee should default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseeagreement, covenant, condition or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become dueterm contained herein, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessormay perform the same for Lessee's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunderaccount, and any other damages due to amount paid or any expense of liability incurred by Lessor in the Lessor. Any surplus remaining thereafter performance of same shall be paid to deemed additional rent payable by Lessee with interest at ten (10%) percent from date of payment by Lessor until repayment by Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.

Appears in 2 contracts

Samples: Lease Agreement (Flashnet Communications Inc), Lease Agreement (Flashnet Communications Inc)

Default by Lessee. (a) 22.1: If Lessee LESSEE shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any of its obligation of Lessee herein (other than as to payment of money) and any pay the annual fixed rent, security deposit or rent arrearages pursuant to this document, or if LESSEE shall fail to cure such default shall continue for a period within seven (7) days after written notice from the LESSOR of such default, or if, within thirty (30) days after written notice from the LESSOR to Lesseethe LESSEE specifying any other default or defaults, LESSEE has not commenced diligently to correct the default or defaults so specified or has not thereafter diligently pursued such correction to completion: or (b) if any assignment shall be made by LESSEE or any guarantor of LESSEE for the benefit of creditors; or (c) if LESSEE’S leasehold interest shall be taken on execution: or (d) if a petition is filed by LESSEE or any guarantor of tenant for adjudication as a bankrupt , or if Lessee shall file a voluntary petition in bankruptcy, for reorganization or if Lessee shall file any petition or institute any proceedings an arrangement under any Insolvency or provisions of the Bankruptcy Act act as then in force and effect; or(e) if an involuntary petition under any of the provisions of said bankruptcy act is filed against LESSEE or any amendment thereto hereafter madeguarantor of LESSEE and such involuntary petition is not dismissed within thirty (30) days thereafter; or (f) if LESSEE shall be declared bankrupt or insolvent according to law; or (g) if a receiver, seeking to effect its reorganization trustee or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee assignee shall be appointed for Lessee the whole or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days part of the commencement thereof)LESSEE s property and shall not be removed within thirty (30) days thereafter, or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without noticethen, and declare all amounts due or to become due hereunder immediately due in any of such cases, LESSOR and payable, and Lessor's the agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor LESSOR lawfully may, in addition to and not in derogation of any other remedy provided by remedies for any preceding breach of covenant, immediately or at any time thereafter and without demand or notice and with or without process of law or permitted herein(forcibly, at its option, relet if necessary) enter into and upon the Leased Premises (or any part thereofthereof in the name of the whole or mail a notice of termination addressed to LESSEE at the premises, and repossess the same as of LESSOR’S former estate and expel LESSEE and those claiming through or under LESSEE and remove its and their effects (forcibly, if necessary) on behalf without being deemed guilty of Lesseeany manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach covenant, applying and upon such entry or mailing as aforesaid, this lease shall terminate, LESSEE hereby waiving all statutory rights (including without limitation rights of redemption, if any, to the extent such rights may be lawfully waived) and LESSOR, with notice to LESSEE, may store LESSEE’S effects and those of any monies collected first person claiming through or under LESSEE, at the expense and risk of the LESSEE, and, if LESSOR so elects, may sell such effects at public auction and apply the net proceed to the payment of expenses of resuming or obtaining possessionall sums due to landlord from LESSEE, andif any, second, and pay over balance to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to LessorLESSEE.

Appears in 2 contracts

Samples: Agreement of Lease, Agreement of Lease

Default by Lessee. (a) If Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default LESSEE defaults in the performance payment of rent or the payment of any obligation of Lessee herein monetary amount required by this LEASE (other than as to payment of moneycollectively, a "Monetary Default") and any such default shall continue Monetary Default continues for a period of thirty (30) days after written notice has been given by LESSOR to LesseeLESSEE specifying the Monetary Default; or LESSEE defaults in the performance of any other non-monetary agreement or condition required by this LEASE to be performed by LESSEE (collectively, a "Non-Monetary Default"), and such Non-Monetary Default continues for a period of thirty (30) days after written notice has been given by LESSOR to LESSEE specifying the Non-Monetary Default, unless the Non-Monetary Default, by necessity, will require more than thirty (30) days to cure and LESSEE has commenced actions necessary to cure that Non-Monetary Default within said thirty (30) day period and is diligently pursuing the same to completion; or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency are filed or Bankruptcy Act action taken by or any amendment thereto hereafter made, seeking against LESSEE to effect its reorganization declare LESSEE bankrupt or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, appoint a receiver or trustee shall be appointed for Lessee LESSEE or the Leased Premises, to reorganize LESSEE or if any proceedings shall be commenced to make an assignment for the reorganization benefit of Lessee the creditors of LESSEE or to do any other act of similar mature or purpose under any state or federal bankruptcy or insolvency laws, and if such proceedings or actions shall not have been discharged within ninety (which90) days thereafter, then, in the case event of involuntary proceedings, are not dismissed or stayed within 30 days any of the commencement thereofabove events; or subject to the rights of any Leasehold Mortgagee (if any), LESSOR may declare a breach of this LEASE by written notice to LESSEE and said Leasehold Mortgagee (if any) , and exercise any one or if more of the leasehold estate created hereby shall be taken on execution or rights available to a LESSOR under the laws of the State of California, including without limitation, the right: to terminate this LEASE, immediately and without further notice to LESSEE, and recover (i) the worth at the time of xxxx of the unpaid rent which has been earned at the time of termination; and (ii) any other reasonable monetary amount necessary to compensate LESSOR for all the detriment suffered by any process LESSOR which was proximately caused by LESSEE'S default under this LEASE, including all costs of lawlitigation and attorney's fees incurred by LESSOR. B to continue this LEASE in full force and effect, or if Lessee shall admit in writing its inability including LESSOR'S right to pay its obligations generally collect rent as they become is becomes due; provided, then Lessor LESSOR may, at its LESSOR'S option, terminate this Lease without notice, and declare all amounts due take any action necessary or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter appropriate including entering upon the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service cure default of any notice in writing of intention to reenter said Leased Premises. Lessor maythis LEASE, in addition which event the reasonable costs incurred by LESSOR to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable conditioneffect such cure, including any leasing commissionattorney's fees, andshall become due and payable by LESSEE, thirdincluding interest at ten percent (10%) annum, calculated from the date of payment due LESSOR to the payment date of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter repayment by LESSEE shall be paid due and payable upon written notice from LESSOR to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall LESSEE. to seek such equitable or other relief as may be paid upon demand therefor available to LessorLESSOR by law.

Appears in 1 contract

Samples: ascip.org

Default by Lessee. (a) 29.1 If default shall be made in the payment of any sum to be paid by Lessee shall make default in making any payment herein provided for under this Lease, and any such default shall continue for a period of ten (10) business days after following receipt of written notice to Lesseenotice, or if Lessee default shall make default be made in the performance of any obligation of the other covenants or conditions which Lessee herein is required to observe and to perform, and such default (other than as to payment extra-hazardous use of moneythe Leased Premises) and any such default shall continue for twenty (20) days following written notice, or if the interest of Lessee under this Lease shall be levied on under execution or other legal process, or if any petition shall be filed by or against Lessee or any Guarantor hereof to declare Lessee or any Guarantor hereof bankrupt or to delay, reduce or modify Lessee's debts or obligations, or that of any Guarantor hereof or if any petition shall be filed or other action taken to reorganize or modify Lessee's capital structure, or that of any Guarantor hereof or if Lessee or any Guarantor hereof is declared insolvent according to law, or if any assignment of Lessee's property or that of any Guarantor hereof shall be made for the benefit of creditors, or if a period receiver or trustee is appointed for Lessee or any Guarantor or its property, or, if either Lessee or any Guarantor hereof is a corporation and a majority of the common voting stock of Lessee or such Guarantor is sold, transferred, assigned, or conveyed (whether voluntarily or involuntarily) without the prior written consent of Lessor, or if either Lessee or any Guarantor hereof is a joint venture, partnership or like entity and a majority of the ownership interest therein is sold, transferred, assigned or conveyed (whether voluntarily or involuntarily) without the prior written consent of Lessor (excepting the case of a sale or transfer of corporate or joint venture/partnership interests to family members or affiliates); or upon any other event of default described in any other provision of this Lease; then Lessor may treat the occurrence of any one or more of the foregoing events as a breach of this Lease (provided that no such levy, execution, legal process or petition filed against Lessee shall constitute a breach of this Lease if Lessee shall vigorously contest the same by appropriate proceedings and shall remove or vacate the same within thirty (30) days after written notice to Lesseefrom the date its creation, service or if Lessee shall file a voluntary petition in bankruptcyfiling) and thereupon, at Lessor's option, may have any one or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days more of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, following described remedies in addition to any all other remedy rights and remedies provided by at law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.equity:

Appears in 1 contract

Samples: Lease Agreement (Mediquik Services Inc)

Default by Lessee. In the event Lessee defaults in the full and timely payment of any or all sums payable under the Lease whether as annual rent, additional rent, utilities or service charges premiums or expenses, real estate taxes, or any other sum whatsoever, and said default continues for fifteen (a15) If days after written notice; or in the event Lessee shall make defaults in the full and timely performance of any and all terms and conditions of this Lease apart from a default in making the full and timely payment of any payment herein provided for or all sums due under this Lease, and any if such default shall continue for a period of ten fifteen (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (3015) days after written notice notice, and in the event said default cannot with due diligence be cured within said fifteen (15) day period and the continuance of which for the period required for cure will not subject Lessor to Lesseethe risk of criminal liability or termination of any lease or foreclosure of any mortgage, Lessee shall not be in default under this Lease if Lessee commences such cure within said fifteen (15) day period and thereafter diligently prosecutes such cure to completion; or in the event Lessee vacates the demised premises or abandons the demised premises of this Lease or any of its obligations hereunder or removes a substantial portion or all of its fixtures or furnishings from the demised premises; or if Lessee shall file does anything constituting a voluntary petition in bankruptcydefault under the section of this Lease relating to Lessee's Bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, then in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee all such events Lessor shall be appointed for Lessee or the Leased Premises, or if entitled to exercise any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate and all remedies under this Lease without noticeand/or those available at law and/or equity with respect to such default or defaults, and declare all amounts due or to become due hereunder immediately due those remedies shall include and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first not be limited to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.following:

Appears in 1 contract

Samples: Lease (American Drug Co)

Default by Lessee. (a) If Lessee shall fails to make default in making any payment herein provided for and any such default shall continue for a period of payments within ten (10) business days of date due and such failure continues for five (5) days after written notice from Lessor, Lessee is adjudged bankrupt or insolvent, makes a transfer in fraud of creditors, makes an arrangement for the benefit of creditors; institutes voluntary bankruptcy or insolvency proceedings or consents to the filing of a bankruptcy or insolvency proceeding or files a petition or answer or consent seeking reorganization or liquidation under any bankruptcy or similar laws; a receiver or trustee is appointed for substantially all of the assets of Lessee or for Lessee's leasehold interest in this Lease, or; any representation, warranty, or if Lessee shall make default in the performance of any obligation covenant of Lessee herein (is untrue, false, or misleading at any time; or Lessee fails to comply with any other than as to payment term of money) this Lease after receipt of written notice from Lessor, and any does not cure such default shall continue for a period of other failure within thirty (30) days after of such written notice, or does not commence to cure within thirty (30) days and complete such cure within ninety (90) days of such written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency (each an "Event of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereofDefault"), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, ; then Lessor may, at its option, shall have the option to terminate this Lease without noticeor any or all Schedules, and declare all amounts due in which event Lessee shall surrender possession of the leased premises within ten (10) days, or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to pursue any other remedy available to Lessor under this Lease or otherwise provided by law or permitted herein, at its option, relet the Leased Premises (equity. Lessor may also apply any or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment all of the costs deposit or prepaid rent to cure a default. Upon an Event of placing Default, Lessee shall pay Lessor the sum of: (a) the unpaid rent and other amounts payable hereunder through the date of such Event of Default; (b) the cost of repairing, altering, or otherwise putting the leased premises into condition acceptable to a new lessee or lessees; (c) all expenses incurred by Lessor in rentable conditionenforcing its remedies, including any leasing commission, and, third, to the payment of rent due hereunder, reasonable attorneys' fees and court costs; (d) any other damages due or relief Lessor may be entitled to the Lessorat law or in equity. Any surplus remaining thereafter Lessee shall be paid to Lesseeliable for all expenses incurred by Lessor for recovery, and repossession by Lessor, which actions shall not affect the obligations of Lessee shall remain liable for any deficiency in rental, the amount unexpired term of which deficiency shall be paid upon demand therefor to Lessorthis Lease unless Lessor terminates this Lease.

Appears in 1 contract

Samples: Teletouch Communications Inc

Default by Lessee. (a) If Lessee shall make default in making vacate or abandon the Demised Premises at any payment herein provided for and any such default shall continue for a period of time during the Term, or if after ten (10) business days after written notice of non-payment when due, Lessee fails to pay any Minimum Rent, Percentage rent or other payment hereunder, or after fifteen (15) days written notice of non-performance fails to perform any other of the terms of this Lease to be observed or performed by Lessee, or, if such term or obligation (other than non-payment of monetary obligations) hereof cannot be performed within fifteen (15) days if Lessee fails within said fifteen (15) day period to commence and thereafter to diligently and continually pursue its obligation hereunder, or if Lessee shall make default become bankrupt or insolvent, or file any debtor proceedings or take or have taken against Lessee in any court pursuant to any statute either of the performance United States or of any obligation state a petition in bankruptcy or for reorganization or for the appointment of Lessee herein (other than as to payment a receiver or trustee of money) and any such default shall continue for all or a period portion of thirty (30) days after written notice to Lessee's property, or if Lessee shall file a voluntary petition in bankruptcymakes an assignment for the benefit of creditors, or petitions for or enters into an arrangement or suffers this Lease to be taken under any writ of execution or attachment, or if this Lease shall pass to or devolve upon, by law or otherwise, one other than Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter madeexcept as herein provided, seeking to effect its reorganization or a composition with its creditors, or ifthen, in any proceedings based one or more of such events, upon Lessor's service of a written five (5) day notice of cancellation upon Lessee specifying the nature of such default and Lessee's failure within said five (5) day period to comply with or remedy such default, then this Lease and the Term shall, at the option of Lessor, terminate and come to an end on the insolvency date specified in such notice of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lesseecancellation, and Lessee shall quit and surrender the Demised Premises to Lessor as if the Term ended by the expiration of the time affixed herein, but Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessoras hereinafter provided.

Appears in 1 contract

Samples: Center Lease (Futurus Financial Services Inc)

Default by Lessee. (a) If Should Lessee shall make default in making fail to pay any payment herein of the rentals provided for and herein, or should Lessee fail to comply with any such default shall continue for a period of the other obligations of this Lease, within ten (10) business days after written from the mailing, by Lessor of notice demanding same, Lessor shall have the right, at Lessor's option (a) to Lesseecancel this Lease, in which event there shall be due to Lessor as liquidated damages, a sum equal to the amount of the guaranteed rent for one year, or if alternatively at Lessor's option to be reimbursed all actual cost incurred in reentering, renovating and reletting said Premises; (b) to accelerate all rentals due for the unexpired remaining term of this Lease and declare same immediately due and payable; or (c) to xxx for the rents in intervals or as the same accrues. The foregoing provisions are without prejudice to any remedy which might otherwise be used under the laws of Louisiana for arrears of rent or breaches of contract, or to any lien to which Lessor may be entitled. If Lessee has taken steps to cure any default not curable in ten (10) days, such additional reasonable time as is necessary to cure such default shall make default be granted Lessee. Should Lessor terminate this Lease as provided in this article, Lessor may reenter said Leased Premises and remove all persons, or personal property, without legal process, and all claims for damages by reason of such reentry are expressly waived. Lessor's failure to strictly and promptly enforce these conditions shall not operate as a waiver of Lessor's right, Lessor hereby expressly reserving the right to always enforce prompt payment of rent, or to cancel this Lease regardless of any indulgences or extensions previously granted. In the event Lessee defaults in the performance of any obligation of Lessee herein (other than as to payment the terms, covenants, agreements or conditions contained in this Lease and Lessor places the enforcement of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseethis Lease, or if Lessee shall file a voluntary petition in bankruptcyany part thereof, or if Lessee shall file the collection of any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts rent due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediatelyhereunder, or any time thereafter, reenter recovery of the possession of the Leased Premises by reasonably necessary force, summary proceedingsin the hands of an attorney, or otherwisefiles suit upon the same, and remove all persons and properly therein, without being liable Lessee agrees to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided pay reasonable attorney's fees incurred by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.

Appears in 1 contract

Samples: Lease Agreement (Champion Industries Inc)

Default by Lessee. (a) 22.1: If Lessee LESSEE shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any of its obligation of Lessee herein (other than as to payment of money) and any pay the annual fixed rent, security deposit or rent arrearages pursuant to this document, or if LESSEE shall fail to cure such default shall continue for a period within seven (7) days after written notice from the LESSOR of such default, or if, within thirty (30) days after written notice from the LESSOR to Lesseethe LESSEE specifying any other default or defaults, LESSEE has not commenced diligently to correct the default or defaults so specified or has not thereafter diligently pursued such correction to completion: or (b) if any assignment shall be made by LESSEE or any guarantor of LESSEE for the benefit of creditors; or (c) if LESSEE’S leasehold interest shall be taken on execution: or (d) if a petition is filed by LESSEE or any guarantor of tenant for adjudication as a bankrupt , or if Lessee shall file a voluntary petition in bankruptcy, for reorganization or if Lessee shall file any petition or institute any proceedings an arrangement under any Insolvency or provisions of the Bankruptcy Act act as then in force and effect; or(e) if an involuntary petition under any of the provisions of said bankruptcy act is filed against LESSEE or any amendment thereto hereafter madeguarantor of LESSEE and such involuntary petition is not dismissed within thirty (30) days thereafter; or (f) if LESSEE shall be declared bankrupt or insolvent according to law; or (g) if a receiver, seeking to effect its reorganization trustee or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee assignee shall be appointed for Lessee the whole or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days part of the commencement thereof)LESSEE s property and shall not be removed within thirty (30) days thereafter, or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without noticethen, and declare all amounts due or to become due hereunder immediately due in any of such cases, LESSOR and payable, and Lessor's the agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor LESSOR lawfully may, in addition to and not in derogation of any other remedy provided by remedies for any preceding breach of covenant, immediately or at any time thereafter and without demand or notice and with or without process of law or permitted herein(forcibly, at its option, relet if necessary) enter into and upon the Leased Premises (or any part thereofthereof in the name of the whole or mail a notice of termination addressed to LESSEE at the Premises, and repossess the same as of LESSOR’S former estate and expel LESSEE and those claiming through or under LESSEE and remove its and their effects (forcibly, if necessary) on behalf without being deemed guilty of Lesseeany manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach covenant, applying and upon such entry or mailing as aforesaid, this lease shall terminate, LESSEE hereby waiving all statutory rights (including without limitation rights of redemption, if any, to the extent such rights may be lawfully waived) and LESSOR, with notice to LESSEE, may store LESSEE’S effects and those of any monies collected first person claiming through or under LESSEE, at the expense and risk of the LESSEE, and, if LESSOR so elects, may sell such effects at public auction and apply the net proceed to the payment of expenses of resuming or obtaining possessionall sums due to landlord from LESSEE, andif any, second, and pay over balance to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to LessorLESSEE.

Appears in 1 contract

Samples: Agreement of Lease

Default by Lessee. (a) If Lessee shall make default in making with regard to any payment item or items of Equipment fails to pay any amount herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of within thirty (30) days after written notice to Lesseethe same is due and payable, or if Lessee shall file a voluntary petition in bankruptcywith regard to any item or items of Equipment fails to observe, keep or perform any other provision of this Lease, required to be observed, kept or performed by Lessee, and if Lessee fails to remedy, cure or remove such failure in payment of such other failure in observing, keeping or performing the provisions of this Lease within thirty (30) days after receipt of written notice thereof from Lessor, Lessor shall file have the right to exercise any petition one or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days more of the commencement thereof), or if following remedies: (a) To declare the leasehold estate created hereby shall be taken on execution or by any process entire amount of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due rent hereunder immediately due and payablepayable as to any or all items of Equipment, without notice or demand to Lessee; (b) To sue for and recover all rents, and Lessor's agents other payments, then accrued or txxxeafter accruing with respect to any or all items of Equipment; (c) To take possession of any or all items of Equipment, without demand or notice, wherever same may be located, without any court order or other process of law; (d) To terminate this Lease as to any or all items of Equipment; or (e) To pursue any other remedy available to Lessor at law or in equity. Lessee hereby waives any and servants may immediatelyall damages occasioned by such taking of possession unless caused by Lessor"s gross negligence or willful misconduct. Any such taking of possession shall not constitute a termination of this Lease as to any or all items of Equipment unless Lessor expressly so notifies Lessee in writing. Notwithstanding any said repossession, or any time thereafterother action which Lessor may take, reenter Lessee shall be and remain liable for the Leased Premises by reasonably necessary force, summary proceedings, or otherwisefull performance of all obligations on the part of Lessee to be performed under this Lease. All such remedies are cumulative, and remove all persons and properly thereinmay be exercised concurrently or separately. In no event, without being liable to indictmenthowever, prosecution, or damage therefor, and Lessee hereby expressly waives shall these remedies be exercised in such a manner that the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet recovers more than the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment balance of rent due hereunder, and any other damages due amounts payable by Lessee to Lessor hereunder, plus the fair market value which the Equipment would have at the end of the initial term of this Lease, discounted from the date of the default to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, end of the amount initial term of which deficiency shall be paid upon demand therefor to Lessorthis Lease at a rate of nine percent (9%) per annum.

Appears in 1 contract

Samples: Asset Purchase Agreement (Reuter Manufacturing Inc)

Default by Lessee. (a) If All covenants and agreements herein made and obligations assumed are to be construed also as condition and these presents are agreed to upon the express condition that if Lessee shall make default in making should fail to pay when due any payment of the aforesaid installments of rent or late charges, or should fail to perform or observe any of the covenants, agreements or obligations herein provided for and any such default shall continue for a period of ten (10) business days after written notice to made or assumed by Lessee, or if Lessee shall make default become insolvent or bankrupt, recast or modify Lessee's debts or obligations or delay payment thereof or if any assignment be made of Lessee's property for the benefit of creditors then and thenceforth, in any said events this Lease may be forfeited and thereby becomes null and void at the option of the Lessor and the Lessor may immediately or at any time thereafter reenter said Leased Premises, or any part thereof in the performance name of any obligation whole or repossess and have the same as of Lessor's former estate and remove therefrom all goods and chattels not thereto property belonging, and expel said Lessee herein and all other persons who may be in possession of said Leased Premises and that to, without demand or notice. It is agreed however, that the monthly installment of rent provided for above shall not be deemed in default until five (other than as to payment of money) and any such default shall continue for a period of thirty (305) days after written notice of default has been given to LesseeLessee and the no default shall be declared for the failure to perform or observe any of the other covenants, agreements or obligations made or assumed by the Lessee until said Lessee is given notice in writinq of such breach, and shall fail to perform the agreement called for, or if Lessee remove the default within five (5) days after mailing of such notice by Lessor. In the event Lessor shall file a voluntary petition in bankruptcyexercise the aforesaid option to terminate, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee he shall be appointed for entitled to receive from the Lessee or thereafter the Leased Premisesdiffence in rental, or if any proceedings shall be commenced herein reserved for the reorganization unexpired portion of Lessee (whichthe term and any lesser net amount which Lessor, in the case exercise of involuntary proceedingsreasonable diligence, are not dismissed or stayed within 30 days is able to procure for the unexpired portion of the commencement thereof)term, each monthly difference being a separate cause of action, which may or if the leasehold estate created hereby shall may not be taken on execution or by any process of law, or if Lessee shall admit accumulated and joined in writing its inability to pay its obligations generally as they become due, then Lessor may, one action at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents option. This right so reserved by the Lessor and servants may immediately, or any time thereafter, reenter the Leased Premises granted by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any constitute an essential part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to consideration for the Lessor. Any surplus remaining thereafter shall be paid 's agreement to Lease the said premises to Lessee, and Lessee shall remain liable the said reserved right may be exercised in any of the contingencies provided for by this Lease, that is to say for the violation and non-observance of any deficiency in rentalof the undertakings to be kept, observed, or performed by the amount of which deficiency shall be paid upon demand therefor to LessorLessee, its successors, or assigns.

Appears in 1 contract

Samples: Lease (Global Entertainment Holdings/Equities Inc)

Default by Lessee. (a) If Lessee shall make default in making the payment of any payment herein provided for sum to be paid by Lessee under this Lease and any such monetary default shall continue for a period of ten five (105) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of the other such covenants or conditions which Lessee herein (other than as is required to payment of money) observe and any to perform, and such non-monetary default shall continue for a period of thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (whichprovided, however, in the case of involuntary proceedingsany such default which cannot reasonably be cured within thirty (30) days but which is curable, are not dismissed or stayed Lessee may cure such default within 30 days of the commencement thereofsuch additional period as may be reasonably required, as long as Lessee has promptly commenced such cure and thereafter diligently prosecutes such cure to completion), or if the leasehold estate created hereby interest of Lessee under this lease or any other property of Lessee shall be levied on under execution, attachment, or other legal process, or if a petition is filed or other action taken on execution by or against Lessee in connection with a voluntary or involuntary case under the federal bankruptcy laws, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency or similar laws, or if any petition shall be filed by or against Lessee to delay, reduce or modify Lessee's debts or if any process of petition shall be filed or other action taken to reorganize, modify, wind-up, liquidate, or dissolve Lessee's capital structure if Lessee be a corporation, partnership or other entity, or if Lessee be declared insolvent according to law, or if assignment or Lessee's property shall be made for the benefit of creditors, or if a receiver, trustee, liquidator, assignee, custodian, sequestrator (or similar official) is appointed for Lessee shall admit in writing or its inability to pay its obligations generally as they become dueproperty, then Lessor maymay treat the occurrence of any one or more of the forgoing events as a breach of this Lease (provided that no such levy, execution, legal process or petition filed against Lessee shall constitute a breach of this Lessee unless and until same has not been removed or vacated or stayed within sixty (60) days from the date of its creation, service or filing) and thereupon, Lessor at its option, terminate this Lease without notice, and declare all amounts due may have any one or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter more of the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, following described remedies in addition to any all other remedy rights and remedies provided by herein or at law or permitted hereinin equity, at its option, relet the Leased Premises (or any part thereof) on behalf all of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter which shall be paid cumulative, but in no event shall Lessor fail to Lessee, and provide Lessee shall remain liable for ten (10) days' written notice prior to resort to any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.such remedies:

Appears in 1 contract

Samples: Lease Contract (Charys Holding Co Inc)

Default by Lessee. (a) If If, with respect to any Site Space, Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of fails to pay rent hereunder within ten (10) business days after Lessor provides Lessee with a written notice to Lesseeregarding such breach, or if Lessee shall make default in the performance breaches Section 5(d) above by not ceasing any objectionable interference at a Premises Site within three (3) days after Lessor provides Lessee with notice of such interference, or Lessee fails to comply with any obligation other term of Lessee herein (this Lease and does not cure such other than as to payment of money) and any such default shall continue for a period of failure within thirty (30) days after Lessor provides Lessee with a written notice regarding the applicable breach or for such longer period not to Lessee, or exceed one hundred eighty (180) days if Lessee is using commercially reasonable efforts to cure such breach, and provided that Lessee is not otherwise excused from performing hereunder, Lessor shall file have the option (i) (x) if such default is a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, default in the case payment of involuntary proceedingsrent, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without as to the subject Site Space or to terminate this Lease as to all Site Spaces, and (y) if such default is a default other than a default in the payment of rent, to terminate this Lease only as to the subject Site Space, in which event Lessee shall surrender possession of such Site Space(s) within thirty (30) days after Lessor's delivery of a termination notice, and declare all amounts due or (ii) to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to pursue any other remedy available to Lessor under this Lease or otherwise provided by law or permitted herein, at equity with respect to such Site Spaces. Lessee shall be liable for reasonable expenses incurred by Lessor for its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment recovery and repossession of the costs of placing Site Space in accordance with the premises in rentable conditionprovisions hereof. Repossession by Lessor shall terminate this Lease as to such repossessed Site Space, including terminating all further rental and other obligations of Lessee for the unexpired term with respect to such Site Space, but any leasing commission, and, third, such termination shall not mitigate or abate any payment obligation under Section 2(c) above if appxxxxxle. Lessor shall use its commercially reasonable efforts to the payment of rent due hereunderre-lease any Site Space for which this Lease has been so terminated, and any other Lessor shall use commercially reasonable efforts to mitigate Lessor's damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessorrelated costs.

Appears in 1 contract

Samples: Master Lease (Arch Communications Group Inc /De/)

Default by Lessee. (a) If Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of ten five (105) business days after written notice to Lesseedays, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty fifteen (3015) days after written notice to Lessee, or if the Leased Premises or any part thereof shall be abandoned, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment Amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof)Lessee, or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's ’s agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly property therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or on any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor. Should Lessor reenter and terminate according to the provisions of this subparagraph, Lessor may remove and store the Lessee’s Property at the expense and for the account of Lessee. Alternatively, Lessor may sell, or cause to be sold, Lessee’s Property at public sale to the highest bidder for cash, and remove from the proceeds of such sale any rent or other payment then due Lessor under this Lease. Any disposition of the Lessee’s Property pursuant thereto shall be made in a manner that is commercially reasonable within the meaning of the Uniform Commercial Code as in effect in the State of Maryland at the time of such disposition.

Appears in 1 contract

Samples: Lease Agreement (Sinclair Broadcast Group Inc)

Default by Lessee. (aThe failure of Lessee to pay any of the sums herein provided or to keep, fulfill and perform any or the terms and provisions of the Lease on its part to be kept and performed, time being of the essence hereof, shall constitute a breach of this Lease at the option of Managing Agencies, so as to terminate all rights, privileges and interests of the Lessee herein. With respect to default of any of the provisions of this Lease by the Lessee, except for nonpayment, Managing Agencies shall provide to Lessee written notice of any breach of the Lease term(s) If and or condition(s) and Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of have thirty (30) days after written notice to Lesseecorrect the condition, or commence and diligently pursue corrective action if Lessee shall file a voluntary petition the condition cannot be corrected in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency thirty (30) days. Failure of Lessee or relating to bankruptcy proceedingscomplete the correction within a reasonable time as determined by Managing Agencies shall constitute a breach of this Lease. In the event of a breach of this Lease, a receiver or trustee shall Lessee will pay to Managing Agencies all costs and other expenses, including reasonable attorneys’ fees, which may be appointed for Lessee or the Leased Premisesincurred by Managing Agencies in enforcing their rights hereunder, or if any proceedings shall be commenced for the reorganization together with such other actual damages as Managing Agencies may actually sustain by reason of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without noticesaid breach, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor Managing Agencies may, in addition to any other remedy provided by law or permitted hereinsuch event, at its option, relet declare the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment term ended and may reenter and take possession of the costs Premises. All rights, remedies and privileges of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunderManaging Agencies shall be cumulative, and any other damages due to in the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rentalevent of a breach, the amount election or enforcement of which deficiency one or more shall not be paid upon demand therefor deemed to Lessorbe a waiver of any or all others.

Appears in 1 contract

Samples: And Renewed Hunting Lease

Default by Lessee. (a) If If, with respect to any Site Space, Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of fails ----------------- to pay rent hereunder within ten (10) business days after Lessor provides Lessee with a written notice to Lesseeregarding such breach, or if Lessee shall make default in the performance breaches Section 5(d) above by not ceasing any objectionable interference at a Premises Site within three (3) days after Lessor provides Lessee with notice of such interference, or Lessee fails to comply with any obligation other term of Lessee herein (this Lease and does not cure such other than as to payment of money) and any such default shall continue for a period of failure within thirty (30) days after Lessor provides Lessee with a written notice regarding the applicable breach or for such longer period not to Lessee, or exceed one hundred eighty (180) days if Lessee is using commercially reasonable efforts to cure such breach, and provided that Lessee is not otherwise excused from performing hereunder, Lessor shall file have the option (i) (x) if such default is a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, default in the case payment of involuntary proceedingsrent, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without as to the subject Site Space or to terminate this Lease as to all Site Spaces, and (y) if such default is a default other than a default in the payment of rent, to terminate this Lease only as to the subject Site Space, in which event Lessee shall surrender possession of such Site Space(s) within thirty (30) days after Lessor's delivery of a termination notice, and declare all amounts due or (ii) to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to pursue any other remedy available to Lessor under this Lease or otherwise provided by law or permitted herein, at equity with respect to such Site Spaces. Lessee shall be liable for reasonable expenses incurred by Lessor for its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment recovery and repossession of the costs of placing Site Space in accordance with the premises in rentable conditionprovisions hereof. Repossession by Lessor shall terminate this Lease as to such repossessed Site Space, including terminating all further rental and other obligations of Lessee for the unexpired term with respect to such Site Space, but any leasing commission, and, third, such termination shall not mitigate or xxxxx any payment obligation under Section 2(c) above if applicable. Lessor shall use its commercially reasonable efforts to the payment of rent due hereunderre-lease any Site Space for which this Lease has been so terminated, and any other Lessor shall use commercially reasonable efforts to mitigate Lessor's damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessorrelated costs.

Appears in 1 contract

Samples: Pinnacle Holdings Inc

Default by Lessee. Each of the following events shall be an “Event of Default” by Lessee and a material breach of this Lease: (a) If Lessee shall fail to make default in making any payment herein provided for of Base Rent owed by Lessee under this Lease, as and when due, and such failure is not cured within five (5) days following receipt of written notice thereof by Lessee (any such default notice shall continue for a period be in lieu of, and not in addition to, any notice required by law), or Lessee shall fail to make any payment of Rent (other than Base Rent) owed by Lessee under this Lease, as and when due, and such failure is not cured within ten (10) business days after following receipt of written notice to thereof by Lessee, or if ; (b) Lessee shall make default in fail to observe, keep or perform any of the performance of any obligation of terms, covenants, agreements or conditions under this Lease that Lessee herein (is obligated to observe or perform, other than as to payment of moneythat described in subsection (a) and any such default shall continue above, for a period of thirty (30) days after receipt of written notice by Lessee of said failure; 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 Lessee shall not be deemed to Lessee, or be in default under this Lease if Lessee shall file a voluntary petition in bankruptcy, or if commence the cure of such default so specified within said thirty (30) day period and diligently prosecute the same to completion; (c) Lessee shall file (i) make any petition general arrangement or institute any proceedings under any Insolvency or Bankruptcy Act assignment for the benefit of creditors; (ii) become a “debtor” as defined in 11 U.S.C. Section 101 or any amendment successor statute thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if(unless, in any proceedings based on case of a petition filed against Lessee, the insolvency same is dismissed within 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 thirty (30) days; or relating to bankruptcy proceedings(iv) the attachment, a receiver execution or trustee shall be appointed for Lessee other judicial seizure of substantially all of Lessee’s assets located at the Premises or the Leased Premisesof Lessee’s interest in this Lease, or if any proceedings shall be commenced for the reorganization of Lessee where such seizure is not discharged within thirty (which30) days; provided, however, in the case event that any provision of involuntary proceedingsthis subparagraph is contrary to any applicable law, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby such provision shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first limited to the payment of expenses of resuming or obtaining possession, and, second, extent necessary to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessoreffective.

Appears in 1 contract

Samples: Office Lease (Icop Digital, Inc)

Default by Lessee. (a) If Lessee shall fails to make default in making any payment herein provided for and any such default shall continue for a period of payments within ten (10) business ----------------- days of date due and such failure continues for five (5) days after written notice from Lessor, Lessee is adjudged bankrupt or insolvent, makes a transfer in fraud of creditors, makes an arrangement for the benefit of creditors; institutes voluntary bankruptcy or insolvency proceedings or consents to the filing of a bankruptcy or insolvency proceeding or files a petition or answer or consent seeking reorganization or liquidation under any bankruptcy or similar laws; a receiver or trustee is appointed for substantially all of the assets of Lessee or for Lessee's leasehold interest in this Lease, or; any representation, warranty, or if Lessee shall make default in the performance of any obligation covenant of Lessee herein (is untrue, false, or misleading at any time; or Lessee fails to comply with any other than as to payment term of money) this Lease after receipt of written notice from Lessor, and any does not cure such default shall continue for a period of other failure within thirty (30) days after of such written notice, or does not commence to cure within thirty (30) days and complete such cure within ninety (90) days of such written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency (each an "Event of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereofDefault"), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, ; then Lessor may, at its option, shall have the option to terminate this Lease without noticeor any or all Schedules, and declare all amounts due in which event Lessee shall surrender possession of the leased premises within ten (10) days, or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to pursue any other remedy available to Lessor under this Lease or otherwise provided by law or permitted herein, at its option, relet the Leased Premises (equity. Lessor may also apply any or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment all of the costs deposit or prepaid rent to cure a default. Upon an Event of placing Default, Lessee shall pay Lessor the sum of: (a) the unpaid rent and other amounts payable hereunder through the date of such Event of Default; (b) the cost of repairing, altering, or otherwise putting the leased premises into condition acceptable to a new lessee or lessees; (c) all expenses incurred by Lessor in rentable conditionenforcing its remedies, including any leasing commission, and, third, to the payment of rent due hereunder, reasonable attorneys' fees and court costs; (d) any other damages due or relief Lessor may be entitled to the Lessorat law or in equity. Any surplus remaining thereafter Lessee shall be paid to Lesseeliable for all expenses incurred by Lessor for recovery, and repossession by Lessor, which actions shall not affect the obligations of Lessee shall remain liable for any deficiency in rental, the amount unexpired term of which deficiency shall be paid upon demand therefor to Lessorthis Lease unless Lessor terminates this Lease.

Appears in 1 contract

Samples: Pinnacle Holdings Inc

Default by Lessee. If LESSEE fails to repair and maintain the Aircraft, discharge all liens (a) If Lessee shall make default in making except for liens created by Owner), secure all licenses or registrations, pay all taxes (except for any payment herein provided for sales tax due on OWNER’s purchase of the Aircraft and any such default of Owner’s income tax obligations), assessments, licenses, and other fees or charges, pay all costs and expenses to be paid by LESSEE, procure and maintain insurance, all as above provided, or to perform any of the other covenants or obligations of LESSEE, OWNER, at its option, may do so, and all advances and expenses incurred by OWNER in connection therewith shall continue be repaid by LESSEE to OWNER upon demand, together with interest thereon at the highest applicable rate allowed by law (but not more than one and one-half percent (1.5%) per month or fraction thereof) until paid. OWNER may enter upon the premises where the Aircraft is located for a period purpose of ten (10) business days after written inspection, and may remove the Aircraft forthwith, without notice to LesseeLESSEE, if, in the reasonable opinion of OWNER, the Aircraft is being improperly used or maintained. If LESSEE shall fail to make any Regular Monthly Rental Payment or fail to pay any other amounts payable hereunder when the same are due and payable, or if Lessee shall make LESSEE should default in the performance of any obligation of Lessee herein (the other than as terms, conditions, or covenants to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseebe performed by LESSEE hereunder, or if Lessee LESSEE should default in the performance of any of the terms, conditions, or covenants to be performed by LESSEE under any other contracts or agreements between LESSEE and OWNER at any time, or if the insurance required to be maintained hereunder shall file a voluntary petition in expire or be canceled and LESSEE shall fail to replace such insurance, or if the Aircraft shall be misused or abandoned by LESSEE, or if LESSEE shall become insolvent, commit any act of bankruptcy, or if Lessee shall file any petition bankruptcy proceedings are begun by or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premisesagainst LESSEE, or if any proceedings shall be commenced a receiver is appointed for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof)LESSEE, or if the leasehold estate created hereby shall be taken on execution for any reason OWNER shall, in good faith, reasonably deem said Aircraft or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become dueitself insecure, then Lessor mayOWNER, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to and without prejudice to any other remedy provided remedies, enter upon the premises where the Aircraft is located and take possession of and remove the Aircraft, with or without notice to LESSEE, and with or without legal proceedings, and in removing the Aircraft, OWNER may, if permitted by law or permitted hereinlaw, at its option, relet the Leased Premises (or use any part thereof) on behalf of Lessee, applying any monies collected first LESSEE’s licenses in respect to the payment of expenses of resuming or obtaining possessionAircraft and OWNER may thereupon terminate this Aircraft Lease. Upon such termination, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter LESSEE shall be paid liable to Lessee, OWNER and Lessee shall remain liable for any deficiency in rental, forthwith pay OWNER the amount of which deficiency OWNER’s damages caused by LESSEE’s default(s), including, but not limited to, any and all reasonable costs and expenses incurred by OWNER in the repossession of the Aircraft (including, but not limited to, court costs and reasonable attorneys’ fees, where allowed by law, and transportation and storage expenses). In addition, LESSEE shall be paid upon demand therefor to Lessorforthwith pay OWNER any other sums due under other provisions of this Aircraft Lease, including, but not limited to, past due Regular Monthly Rental Payments, reserves for engine replacement, and late payment fees.

Appears in 1 contract

Samples: Aircraft Lease (Nb Finance Corp)

Default by Lessee. Should default be made by Lessee in the payment of any of the rents or other moneys provided to be paid hereunder as and when the same become payable or should Lessee or any of Lessee’s agents or employees violate any of the terms or provisions of this lease or should Lessee move out, vacate or abandon the leased premises or any part thereof (a) If Lessee shall make absence for ten days after default in making payment or rental shall constitute such an abandonment), or should Lessee petition for voluntary bankruptcy or corporate reorganization under Chapter 10, or an arrangement under Chapter 11 of the Bankruptcy Act, or be adjudged a bankrupt, make an assignment for the creditors, or suffer any payment herein provided other person to remain in possession for and any such default shall continue for a period of more than ten (10) business days after written notice to Lesseeby virtue of a receivership, attachment or if execution (or should Lessee shall make default remain in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days premises after written notice to Lessee, this lease or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution has expired or after this lease of the leasehold estate has been terminated either by act of the Lessee, by notice from the Lessor, or by any process operation of law), or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then the Lessor may, at its option, terminate this Lease and without notice, and declare all amounts due or notice to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafterthe Lessee, reenter and take possession of the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, said premises and remove all persons and properly thereinproperty therefrom, without being liable place Lessee’s property in storage in a public warehouse or other suitable place at the risk and expense of the Lessee and make any repairs, changes, alterations or additions in or to indictment, prosecutionsaid premises. Should the Lessor elect to reenter and take possession of said premises under the provisions of this paragraph (whether or not by or through legal proceedings) Lessor may either terminate this lease and recover from the Lessee all damages which the Lessor may incur in recovering possessions of said premises, or damage thereforthe Lessor may relet said premises, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf , for all or any part of the remainder of said term, to a tenant or tenants satisfactory to it, and at such monthly rental as Lessor may with reasonable diligence secure, and should such monthly rental be less than herein agreed to be paid by the Lessee, applying any monies collected first said Lessee agrees to pay such deficiency to the payment Lessor in advance on the first day of expenses of resuming or obtaining possession, and, second, to each and every month for the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunderterm thereof, and any other damages due to pay to the Lessor, within ten days after such reletting, the costs and expenses which the Lessor may incur by reason thereof. Any surplus remaining thereafter No reentry of said premises by the Lessor as herein provided shall be paid construed as an election on its part to terminate this lease unless written notice of such intention is given to the Lessee, which notice may be given at any time prior to the expiration of the term hereof; it being expressly understood that the election of the Lessor not to terminate this lease at the time of or upon taking possession of the demised premises as herein provided shall not be irrevocable but the Lessor may, at any time thereafter, elect to terminate this lease by giving notice of such election as hereinbefore provided, and such termination shall not operate to release the Lessee shall remain liable for from any deficiency in rental, liability theretofore incurred or accrued under the amount of which deficiency shall be paid upon demand therefor to Lessorterms hereof.

Appears in 1 contract

Samples: Lease (Bebe Stores Inc)

Default by Lessee. If default shall be made in the payment of any sum to be paid by Lessee under this lease, and default shall continue for ten (a10) If days, or default shall be made in the performance of any of the other covenants or conditions which Lessee shall make default in making any payment herein provided for is required to observe and any to perform, and such default shall continue for twenty (20) days AFTER WRITTEN NOTICE TO LESSEE, or if the interest of Lessee under this lease shall be levied on under execution or other legal process, or if any petition shall be filed by or against Lessee to declare Lessee a period bankrupt or to delay, reduce or modify Lessee's debt or obligations, or if any petition shall be filed or other action taken to reorganize or modify Lessee's capital structure if Lessee be a corporation or other entity, or if Lessee be declared insolvent according to law, or if any assignment of ten (10) business days after written notice to Lessee's property shall be made for the benefit of creditors, or if a receiver or trustee is appointed for Lessee or its property, or if Lessee shall make default abandon or vacate the Premises during the term of this lease or any renewals or extensions thereof, or if Lessee is a corporation and Lessee shall cease to exist as a corporation in good standing under the performance laws of the State of Texas of if Lessee is a partnership or other entity and shall be dissolved or otherwise liquidated, then Lessor may treat the occurrence of any obligation one or more of the foregoing events as a breach of this lease (provided that no such levy, execution, legal process or petition filed against Lessee herein (other than as to payment shall constitute a breach of money) this lease if Lessee shall vigorously contest the same by appropriate proceedings and any such default shall continue for a period of remove or vacate the same within thirty (30) days after written notice to Lesseefrom the date of its creation, service or if Lessee shall file a voluntary petition in bankruptcyfiling) and thereupon, at Lessor's option, may have any one or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days more of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, following described remedies in addition to any all other remedy provided by rights and remedies available at law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.equity:

Appears in 1 contract

Samples: Lease Agreement (Tanknology Environmental Inc /Tx/)

Default by Lessee. If LESSEE fails to repair and maintain the Aircraft, discharge all liens (a) If Lessee shall make default in making except for liens created by Owner), secure all licenses or registrations, pay all taxes (except for any payment herein provided for sales tax due on OWNER’s purchase of the Aircraft and any such default of Owner’s income tax obligations), assessments, licenses, and other fees or charges, pay all costs and expenses to be paid by LESSEE, procure and maintain insurance, all as above provided, or to perform any of the other covenants or obligations of LESSEE, OWNER, at its option, may do so, and all advances and expenses incurred by OWNER in connection therewith shall continue be repaid by LESSEE to OWNER upon demand, together with interest thereon at the highest applicable rate allowed by law (but not more than one and one-half percent (1.5%) per month or fraction thereof) until paid. OWNER may enter upon the premises where the Aircraft is located for a period purpose of ten (10) business days after written inspection, and may remove the Aircraft forthwith, without notice to LesseeLESSEE, if, in the reasonable opinion of OWNER, the Aircraft is being improperly used or maintained. If LESSEE shall fail to make any Regular Monthly Rental Payment or fail to pay any other amounts payable hereunder when the same are due and payable, or if Lessee shall make LESSEE should default in the performance of any obligation of Lessee herein (the other than as terms, conditions, or covenants to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseebe performed by LESSEE hereunder, or if Lessee LESSEE should default in the performance of any of the terms, conditions, or covenants to be performed by LESSEE under any other contracts or agreements between LESSEE and OWNER at any time, or if the insurance required to be maintained hereunder shall file a voluntary petition in expire or be canceled and LESSEE shall fail to replace such insurance, or if the Aircraft shall be misused or abandoned by LESSEE, or if LESSEE shall become insolvent, commit any act of bankruptcy, or if Lessee shall file any petition bankruptcy proceedings are begun by or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premisesagainst LESSEE, or if any proceedings shall be commenced a receiver is appointed for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof)LESSEE, or if the leasehold estate created hereby shall be taken on execution for any reason OWNER shall, in good faith, reasonably deem said Aircraft or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become dueitself insecure, then Lessor mayOWNER, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to and without prejudice to any other remedy provided remedies, (a) may enter upon the premises where the Aircraft is located and take possession of and remove the Aircraft, with or without notice to LESSEE, and with or without legal proceedings, and in removing the Aircraft, OWNER may, if permitted by law law, use any of LESSEE’s licenses in respect to the Aircraft, and/or (b) may terminate this Aircraft Lease, and/or (c) may sell, lease or permitted herein, at its option, relet the Leased Premises (otherwise dispose of all or any part thereofof the Aircraft at public or private sale, with or without advertisement or publication, with or without notice to LESSEE, and with or without legal proceedings; provided that such sale is conducted in accordance with the requirements of applicable law. Upon such termination, LESSEE shall be liable to OWNER and shall forthwith pay OWNER the amount of OWNER’s damages caused by LESSEE’s default(s), including, but not limited to, (a) any and all reasonable costs and expenses incurred by OWNER in the repossession or disposition of the Aircraft (including, but not limited to, court costs and reasonable attorneys’ fees, where allowed by law, and transportation and storage expenses), plus (b) any other sums due under other provisions of this Aircraft Lease, including, but not limited to, past due Regular Monthly Rental Payments, reserves for engine replacement, and late payment fees, plus (c) as liquidated damages for loss of a bargain and not as a penalty, and in lieu of any further payments of rent, the stipulated loss value of the Aircraft as of the month preceding the date of OWNER’s demand as shown on behalf the Amortization Schedule attached hereto and incorporated herein as Annex “B”, plus (d) interest at the rate of Lessee, applying any monies collected first 18% per annum on the total of the foregoing from the date of demand to the date of payment of expenses of resuming or obtaining possession, and, second, (and the parties acknowledge that the foregoing money damage calculation reasonably reflects OWNER’s anticipated loss with respect to the payment Aircraft and this Lease resulting from the event of default and the termination of this Lease due to such default by LESSEE). If OWNER actually repossesses the Aircraft, then OWNER shall not be required to sell, lease or otherwise dispose of the costs Aircraft prior to OWNER enforcing any of placing the premises remedies described above. OWNER may sell, lease or otherwise dispose of the Aircraft in rentable conditionany manner it chooses so long as such disposition is conducted in accordance with the requirements of applicable law, including free and clear of any leasing commission, and, third, claims or rights of LESSEE and without any duty to account to LESSEE with respect thereto except as provided below. If OWNER actually sells or leases the Aircraft pursuant to the payment remedies provided above in this Article 9A, then OWNER will credit the net proceeds of rent due hereunderany sale of the Aircraft, or the net present value (discounted at the then current LIBOR plus 300 basis points) of the rents payable under any new lease of the Aircraft, against and up to (but not exceeding) the amounts payable by LESSEE under any of the preceding paragraphs of this Article 9A and any other damages due amounts LESSEE owes OWNER hereunder, or will reimburse LESSEE for and up to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor(but not exceeding) LESSEE’s payment thereof.

Appears in 1 contract

Samples: Aircraft Lease (Nb Finance Corp)

Default by Lessee. (a) If Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.or

Appears in 1 contract

Samples: Assumption Agreement (Beasley Broadcast Group Inc)

Default by Lessee. (a) If Lessee shall make default be in making arrears of any payment herein provided for and any such default shall continue for a period of Rent more than ten (10) business days after receipt of written notice to Lessee, of such delinquency or if Lessee shall make remain in default in the performance under any other condition of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue this Lease for a period of thirty (30) days after receipt of written notice to Lesseefrom Lessor, or if should any other person than Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency secure possession of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization part thereof, by reasons of Lessee (whichany receivership, in the case of involuntary bankruptcy proceedings, are not dismissed or stayed within 30 days other operation of the commencement thereoflaw in any manner whatsoever (any such event being referred to herein as “Lessee Default”), or if the leasehold estate created hereby Lessor shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, without notice to Lessee, terminate this Lease Lease, or in the alternative, Lessor shall reenter and take possession of said Leased Premises and remove all persons and property therefrom, without noticebeing deemed guilty of any manner of trespass, and declare shall relet the premises or any part thereof, for all amounts or any part of the remainder of the Term, to a party reasonably satisfactory to Lessor, and at the maximum monthly rental in line with market rates as Lessor may with reasonable diligence be able to secure. Should Lessor be unable to relet after reasonable efforts to do so, or should such monthly rental be less than the rental Lessee was obligated to pay under this Lease, or any renewal thereof, plus Lessor’s reasonable and actual expense of reletting, then Lessee shall pay the amount of such deficiency to Lessor. Notwithstanding anything to the contrary set forth in this Lease or under any applicable law, no lien held by Lessor or any of Lessee’s goods, merchandise or any other of Lessee’s property shall prevent the sale by Lessee of any merchandises in the ordinary course of business free of such lien to Lessor. Lessor shall subordinate or, if necessary, release and waive any lien rights, if requested by Lessee or Dynamic Health Products, Inc., the parent corporation of the Lessee (the “Parent”), in connection with Lessee, the Parent and/or any subsidiary of the Parent obtaining a loan or other financing from any financial institution, lender or other secured creditor. In the event Lessor exercises the option to terminate the leasehold, reenter and relet the premises as provided in the preceding paragraph, then subject to such subordination, Lessor may take possession of all of Lessee’s property on the premises and sell same at public or private sale after giving Lessee reasonable notice of the time and place of any public sale or of the time after which any private sale is to be made, for cash or on credit, or for such prices and terms as Lessor deems best, with or without having the property present at such sale. The proceeds of such sale shall be applied first to the actual and necessary and proper expense of removing, storing and selling such property, then to the payment of any Rent due or to become due hereunder immediately under this Lease, with the balance, if any, to be promptly paid to Lessee. Further, in the event of Lessee’s Default the Lessor may declare due and payable, sxx for and recover, all unpaid rent and additional rent for the unexpired period of the Term as if by the terms of this Lease the same were payable in advance, together with all actual and reasonable legal fees and other reasonable expenses actually incurred by Lessor in connection with the enforcement of any of Lessor's agents ’s rights and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwiseremedies hereunder if, and remove all persons and properly thereinonly if, without being liable Lessor is successful in said enforcement. However, Lessor shall have a duty to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives exert reasonable efforts to relet the service of any notice in writing of intention to reenter said Leased Premises. Any expenses incurred by the Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (shall be borne by Lessee. This provision shall not place an obligation on the Lessor to relet the Leased Premises for a period longer than the remaining term of this Lease and if such Leased Premises are relet for a period longer than the remaining term of this Lease the Lessee shall not receive credit for any rent received or any part thereof) on behalf to be received which is greater than the Lessee is obligated to pay under the terms of Lessee, applying any monies collected first to the payment this Lease. All rights and remedies of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunderLessor under this Lease shall be cumulative, and none shall exclude any other damages due to the Lessorright, remedy or duty at law. Any surplus remaining thereafter shall Such rights, remedies and duties may be paid to Lessee, exercised and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand enforced and performed concurrently and whenever and as often as occasion therefor to Lessorarises.

Appears in 1 contract

Samples: Lease Agreement (Dynamic Health Products Inc)

Default by Lessee. If default shall be made in the payment of any sum to be paid by Lessee under this Lease, and default shall continue for ten (a10) If days, or default shall be made in the performance of any of the other covenants or conditions which Lessee shall make default in making any payment herein provided for is required to observe and any to perform, and such default shall continue for twenty (20) days, or if the interest of Lessee under this Lease shall be levied on under execution or other legal process, or if any petition shall be filed by or against Lessee to declare Lessee a period bankrupt or to delay, reduce or modify Lessee's debts or obligations, or if any petition shall be filed or other action taken to reorganize or modify Lessee's capital structure if Lessee be a corporation or other entity, or if Lessee be declared insolvent according to law, or if any assignment of ten (10) business days after written notice to Lessee's property shall be made for the benefit of creditors, or if a receiver or trustee is appointed for Lessee or its property, or if Lessee shall make default in abandon the performance Leased Premises during the term of this Lease or any renewals or extensions thereof, then Lessor may treat the occurrence of any obligation one or more of the foregoing events as a breach of this Lease (provided that no such levy, execution, legal process or petition filed against Lessee herein (other than as to payment shall constitute a breach of money) this Lease if Lessee shall vigorously contest the same by appropriate proceedings and any such default shall continue for a period of remove or vacate the same within thirty (30) days after written notice to Lesseefrom the date of its creation or service or filing) and thereupon, at Lessor's option, may have any one or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days more of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, following described remedies in addition to any all other remedy provided by rights and remedies available at law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.equity:

Appears in 1 contract

Samples: Lease Agreement (Victoria Bankshares Inc)

Default by Lessee. If default shall be made in the payment of any sum to be paid by Lessee under this Lease (a) If Lessee shall make no notice being required for default in making any payment herein provided for and any such of Base Annual Rental), or default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default be made in the performance of any obligation of the other such covenants or conditions which Lessee herein (other than as is required to payment of money) observe and any to perform, and such non-monetary default shall continue for a period of thirty twenty (3020) days after written notice to Lessee (said notice to be given pursuant to Section 34), or if the interest of Lessee under this Lease or any other property of Lessee shall be levied on under execution, attachment, or other legal process, or if a petition is filed or other action taken by or against Lessee in connection with a voluntary or involuntary case under the Federal bankruptcy laws, as now constituted or hereafter amended, or any other applicable federal or state bankruptcy, insolvency or similar laws, or if any petition shall be filed by or against Lessee to delay, reduce or modify Lessee's debts or obligations, or if any petition shall be filed or other action taken to reorganize, modify, wind-up, liquidate, or dissolve Lessee's capital structure if Lessee be a corporation, partnership or other entity, or if Lessee be declared insolvent according to law, or if Lessee generally fails to pay its debts as they become due, or if assignment of Lessee's property shall be made for the benefit of creditors, or if a receiver, trustee, liquidator, assignee, custodian, sequestrator (or similar official) is appointed for Lessee or its property, or if Lessee shall file abandon the Leased Premises during the term of this Lease or any renewals or extensions thereof (which shall mean that Lessee is absent from the Leased Premises for three (3) consecutive days [Saturdays, Sundays and holidays excluded] while Lessee is in default in the payment of any sum to be paid by Lessee hereunder), then Lessor may treat the occurrence of any one or more of the foregoing events as a voluntary breach of this Lease (provided that no such levy, execution, legal process or petition in bankruptcy, or filed against Lessee shall constitute a breach of this Lease if Lessee shall file any petition vigorously contest the same by appropriate proceedings and shall remove or institute any proceedings under any Insolvency vacate the same within thirty (30) days from the date of its creation, service or Bankruptcy Act or any amendment thereto hereafter madefiling) and thereupon, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due may have any one or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter more of the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, following described remedies in addition to any all other remedy rights and remedies provided by herein or at law or permitted hereinin equity, at its option, relet the Leased Premises (all or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter which shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.cumulative:

Appears in 1 contract

Samples: 3dx Technologies Inc

Default by Lessee. The following actions shall constitute a default by Lessee: (a1) If Lessee shall failure to make default any rental payment, including prorated increases in making any payment herein provided for the cost of Real Estate Taxes, Common Area Maintenance, Insurance and any other payments due hereunder (hereinafter "rents") within fifteen (15) days after the same shall become due; (2) abandonment of the Demised Premises; (3) breach or failure to perform any of the terms or conditions of this Lease other than the payment of rents, as defined in (1) above, which if such default breach or failure to perform shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period expiration of thirty (30) days after written from date the Lessor gives notice to LesseeLessee of such breach or failure to perform; provided, however, that if such breach or if Lessee shall file failure to perform is of such a voluntary petition in bankruptcynature that it cannot be reasonably corrected within thirty (30) days , then no breach or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking failure to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee perform shall be appointed for deemed to have occurred if the Lessee or the Leased Premisespromptly, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days upon receipt of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, commences the curing of the breach or failure to perform and declare all amounts due or diligently prosecutes the same to become due hereunder immediately due and payablecompletion. In the event of any default as defined herein, the Lessor shall have the immediate right to end Lessee's right of possession under this Lease, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, to re-enter and remove all persons and properly thereinproperty from the Demised Premises, and to dispose of any such property, all without service of notice to Lessee or resort to legal process, and without Lessor being liable for any loss which may be occasioned thereby. Should Lessor elect to indictmentre-enter, prosecutionas herein provided, or damage thereforshould Lessor take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Lessor may make such alterations and repairs thereof which Lessor in its sole discretion may deem advisable, and Lessee hereby expressly waives Lessor may re-let the service Demised Premises for such term or terms (which may be for a term extending beyond the term of this Lease or any extensions or renewals thereof) and at such rental or rentals and upon such other terms and conditions as Lessor in its sole discretion may deem advisable. Upon each such reletting, any rentals received by Lessor from such reletting shall be applied, first, to the payment of any indebtedness other than rents, as defined in (1) above, due thereunder from Lessee to Lessor; second, to the payment of any costs and expenses of such reletting, including brokerage fees, attorney's fees, costs and expenses of litigation reasonably incurred and the cost of alterations and repairs; third, to the payment of rents, as defined in (1) above, due and unpaid hereunder; and the residue, if any, shall be held by Lessor and applied in payment of future rents, as defined in (1) above, to be paid during that month by Lessee hereunder. Lessee shall pay the cost any deficiency to Lessor. No such re-entry or taking of possession of the Demised Premises by Lessor shall be construed as an election on its part to terminate this Lease in its entirety unless a written notice of such termination be given to Lessee or unless the termination be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Lessor may at any time thereafter elect to terminate this Lease in writing of intention to reenter said Leased Premisesits entirely for any default by Lessee. Should Lessor mayterminate this Lease in its entirety, for any such default, in addition to any other remedy remedies it might have, Lessor may recover from Lessee all damages that Lessor may incur by reason of such default including, but not limited to, any then due and unpaid rents, as defined in (1) above, the cost of recovering the Demised Premises and reasonable Attorney's fees. Should Lessor at any time end Lessee's right of possession for any default by Lessee, (as hereinbefore provided), without termination of the Lease in its entirety, in addition to any other remedies it might have, Lessor may recover from Lessee all damages that Lessor may incur by reason of such default, including but not limited to, any then due and unpaid rents, as defined in (1) above, the cost of recovering the Demised Premises, reasonable attorney's fees, and the balance of the rents as defined in (1) , above unpaid for the remainder of the term hereof, all of which amounts shall be immediately due and payable from Lessee to Lessor. Further, upon breach or threatened breach by Lessee of any provision of this Lease, Lessor shall have the right of injunction as if other remedies were not provided for herein. Notwithstanding anything in this lease as may be contained to the contrary, in the event of default under this Lease by Lessee, Lessee shall have any and all rights and remedies with respect to default under Florida State, Federal, Municipal, County, City or other applicable law or permitted herein, at its option, relet the Leased Premises (statutes and in no event shall Lessee waive any of those rights or any part thereof) on behalf remedies as contemplated herein excepting waiver of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereundertrial by jury, and the right to interplead any other damages due to claims, notwithstanding that the Lessor. Any surplus remaining thereafter provisions of this lease shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessortake precedent.

Appears in 1 contract

Samples: Lease Agreement (Cfi Mortgage Inc)

Default by Lessee. (a) If In the event Lessee fails to pay any installment of rent punctually when due, or fails to perform or violates any of the covenants, conditions, provisions or agreements herein contained, or if petition in bankruptcy shall make default in making any payment herein provided for and any such default shall continue be filed by or against Lessee or if Lessee, without the written consent of Lessor, closes the Leased Premises or discontinues active business therein for a period of ten three (103) business days after written notice to Lesseeconsecutive months, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseeabandons, vacates or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or misuses the Leased Premises, or if makes or attempts to make any proceedings shall be commenced for sale or removal of the reorganization principal part of Lessee (which, Lessee’s movables or contents in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken Leased Premises on execution which Lessor has Lessor liens or by any process other means attempts to deprive Lessor of lawits Lessor’s liens thereon, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then denies Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the opportunity of showing the Leased Premises by reasonably necessary forceto prospective tenants, summary proceedingsas herein stipulated, then in said events or otherwiseany of them, Lessor shall send written notice to Lessee of such default and remove all persons if Lessee fails to cure such default within thirty-(30) days from and properly thereinafter receipt of such notice, without being liable Lessor may declare the Lessee to indictment, prosecution, or damage therefor, be in default of its obligations hereunder and Lessee hereby expressly waives the service of any notice in writing of intention may thereafter pursue such legal remedies as may be available to reenter said Leased PremisesLessor. Lessor may, in addition to any other remedy provided right or rights which Lessor may have under the provision of this Lease or by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunderlaw, and any other damages due to the at Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.’s option:

Appears in 1 contract

Samples: Office Building Lease Agreement (RedHawk Holdings Corp.)

Default by Lessee. (a) If Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased PremisesTower, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises Tower by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased PremisesTower. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises Tower (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.

Appears in 1 contract

Samples: Agreement of Sale (Beasley Broadcast Group Inc)

Default by Lessee. Each of the following events shall be an "Event of Default" (sometimes referred to herein as a "default") by Lessee and a material breach of this Lease: (a) If Lessee shall fail to make default in making any payment herein provided for owed by Lessee under this Lease, as and when due, and such failure is not cured within three (3) days following written notice thereof to Lessee (any such default notice shall continue for a period of ten be in lieu of, and not in addition to, any notice required by law); (10b) business days after written notice to Lessee, or if Lessee shall make default in fail to observe, keep or perform any of the performance of any obligation of terms, covenants, agreements or conditions under this Lease that Lessee herein (is obligated to observe or perform, other than as to payment of moneythat described in subsection (a) and any such default shall continue above, for a period of thirty (30) days after written notice to Lessee of said failure; provided, however, that if the nature of Lessee's default is such that more than thirty (30) days are reasonably required for its cure, or then Lessee shall not be deemed to be in default under this Lease if Lessee shall file a voluntary petition in bankruptcy, or if commence the cure of such default so specified within said thirty (30) day period and diligently prosecute the same to completion; (c) Lessee shall file (i) make any petition general arrangement or institute any proceedings under any Insolvency or Bankruptcy Act assignment for the benefit of creditors; (ii) become a "debtor" as defined in 11 U.S.C. Section 101 or any amendment successor statute thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if(unless, in any proceedings based on case of a petition filed against Lessee, the insolvency same is dismissed within 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 thirty (30) days; or relating to bankruptcy proceedings(iv) the attachment, a receiver execution or trustee shall be appointed for Lessee other judicial seizure of substantially all of Lessee's assets located at the Premises or the Leased Premisesof Lessee's interest in this Lease, or if any proceedings shall be commenced for the reorganization of Lessee where such seizure is not discharged within thirty (which30) days; provided, however, in the case event that any provision of involuntary proceedingsthis subparagraph is contrary to any applicable law, are not dismissed such provision shall be limited to the extent necessary to be effective; or stayed within 30 days (d) The vacating or abandonment of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.

Appears in 1 contract

Samples: Lease Agreement (Pharmacy Buying Association Inc)

Default by Lessee. If (a) If Lessee shall make default in making fail to pay rent or any payment herein provided for and any such default shall continue for a period of other charges hereunder within ten (10) business days after written notice to Lessee, or if that same is past due; (b) Lessee shall make at any time be in default in the performance of any other non-monetary terms, obligation or provisions of Lessee herein (other than as this Lease and shall fail to payment of money) and any remedy such default shall continue for a period of within thirty (30) days after receipt of written notice thereof (but Lessee shall not be deemed in default if such default in the performance of such terms or provisions cannot be cured in thirty (30) days and Lessee commences to Lesseeremedy such default within said thirty (30) day period and proceeds therewith with due diligence until completion); (c) Lessee shall file or have filed against it a petition under the U.S. Bankruptcy Code or state insolvency laws or shall make an assignment for the benefit of creditors, or if a receiver of any property of Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, be appointed in any proceedings based on action, suit or proceeding by or against Lessee and not removed within thirty (30) days after appointment; (d) the insolvency interest of Lessee or relating to bankruptcy proceedings, a receiver or trustee in the Premises shall be appointed for Lessee sold under execution or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof)other legal process, or if the leasehold estate created hereby shall be taken on execution Premises are sublet or by any process this Lease is assigned without Lessor's consent in violation of law, or if this Lease; (e) Lessee shall admit commit waste; (f) Lessee shall vacate or abandon the Premises; or (g) any governmental agency shall commence any forfeiture proceedings against Lessee, then, in writing its inability to pay its obligations generally as they become dueany such event, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any all other remedy provided legal and equitable remedies which it may be entitled to enforce, terminate this Lease, re-enter the Premises by law summary proceedings, commence proceedings in forcible entry and detainer, eviction, or permitted hereinotherwise, at its option, relet the Leased Premises (or any part thereof) on behalf of and dispossess Lessee, applying any monies collected first to in which event all rents and additional charges due hereunder for the payment of expenses of resuming or obtaining possession, and, second, to the payment remainder of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter Term shall be paid to Lessee, accelerated and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessorbecome immediately due.

Appears in 1 contract

Samples: Lease Agreement With Option to Purchase (Hawk Corp)

Default by Lessee. (a) If Lessee shall make default in making the payment of any payment herein provided for and Rent or other sum to be paid by Lessee under this Lease when due; provided, however that Lessor shall not declare Lessee in default so long as any Rent due is paid within five (5) days of the due date. Lessor's obligation to provide Lessee with such default five (5) day notice shall continue for a period of ten (10) business days after written notice not affect Lessee's obligation to Lessee, or if pay any late charges set forth in Section 4.07. If Lessee shall make default in the performance of any obligation of the other covenants or conditions which Lessee herein (other than as is required to payment of money) observe and any to perform under this Lease and such default shall continue for a period of thirty (30) days after written notice to Lessee; or the interest of Lessee under this Lease shall be levied on under execution or other legal process; or any petition shall be filed by or against Lessee to declare Lessee a bankrupt or to delay, reduce or modify Lessee's debts or obligations; or any petition shall be filed or other action taken to reorganize or modify Lessee's debts or obligations: or any petition shall be filed or other action taken to reorganize or modify Lessee's capital structure; or Lessee is declared insolvent according to law; or any assignment of Lessee's property shall be ioade for the benefit of creditors; or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be is appointed for Lessee or its property; or Lessee shall vacate or abandon the Leased Premises, Premises or if any proceedings part thereof at any time during the Term for a period of fifteen (15) or more continuous days; or Lessee is a corporation and Lessee shall cease to exist as a corporation in good standing in the State of its incorporation; or Lessee is a partnership or other entity and Lessee shall be commenced for dissolved or otherwise liquidated; then Lessor may treat the reorganization occurrence of Lessee (which, in the case of involuntary proceedings, are not dismissed any one or stayed within 30 days more of the commencement thereof)foregoing events as a breach of this Lease (provided, no such levy, execution, legal process or if the leasehold estate created hereby petition filed against Lessee shall be taken on execution or by any process constitute a breach of law, or this Lease if Lessee shall admit in writing vigorously contest the same by appropriate proceedings and shall remove or vacate the same within thirty (30) days from the date of its inability to pay its obligations generally as they become duecreation, then Lessor mayservice or filing). Thereupon, at its optionLessor's option and in addition to all other rights and remedies provided at law or in equity, Lessor may terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter repossess the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable be entitled to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives recover as damages a sum of money equal to the service total of any notice in writing (a) the cost of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet recovering the Leased Premises (including reasonable attorneys' fees and costs of suit), (b) the unpaid rent earned at the time of termination, (c) the present value (discounted at the rate of eight percent (18%) per annum) of the balance of the rent for the remainder of the Term less the present value (discounted at the same rate of the fair market rental value of the Leased Premises for said period, (d) the amount of any unamortized leasing commissions or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming allowances or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid concessions previously made by Lessor to Lessee, (e) any other sum of money, and damages owed by Lessee shall remain liable for any deficiency in rental, to Lessor and (f) interest on (a) (b) (c) (d) and (e) above at the amount rate of which deficiency shall be paid upon demand therefor to Lessorthe lesser of eighteen percent (18%) per annum or the highest rate allowed by applicable law.

Appears in 1 contract

Samples: Lease Agreement (Virata Corp)

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Default by Lessee. Should the lessee or the business gets involved in any illegal business activities defiled by the State and or local law, lessor has the right to unilaterally cancel this lease and send an invoice for the remainder of the rents. Such invoice must be paid by lessee within thirty days. Should the lessee be late ten (a10) If days after receiving a “breach of the lease” notice, lessor has the option to change the locks pending the rent payment and ten percent penalty. Should lessee at any time be in default with respect to any rental payments or other charges payable by Lessee shall make default in making any payment herein provided for and any should such default shall continue for a period of ten three (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (303) days after written notice from Lessor (Crossville Outlet Mall LLC A Tennessee Limited Liability Company) to Lessee; or should Lessee be in default in the prompt and full performance continue for more than a reasonable time (in no event to exceed thirty (30) days) after written notice thereof from Lessor to Lessee, specifying the particulars of such default or if Lessee breach or performance; then the occurrence of any one or more of the foregoing events shall file a voluntary petition in bankruptcybe an event of default under this Lease Tenants Restrictions LESSEE SHALL APPLY FOR A BUSINESS LICENSE PRIOR TO OPERATION OF THE BUSINESS. LESSEE SHALL NOT PERMIT: Any violation of any federal, state or local law, ordinance, or if Lessee shall file any petition regulation nor or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter madeenacted, seeking to effect its reorganization or a composition with its creditorsrelated environmental conditions on, under, or if, in any proceedings based on about the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed arising from Tenant’s use or stayed within 30 days occupancy of the commencement thereof)Premises, including, but not limited to, soil and ground water conditions; or The use, generation, release, manufacture, refining, production, processing storage, or if disposal of any Hazardous substance on, under or about the leasehold estate created hereby shall be taken on execution or by any process of lawPremises, or if Lessee shall admit in writing its inability the transportation to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter from the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor mayHazardous Substance, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessorexcept as specifically disclosed.

Appears in 1 contract

Samples: californiaretailproperties.com

Default by Lessee. If at any time: the Rent is in arrears and unpaid for 10 Business Days after any payment date (whether it has been demanded or not) repairs required by any notice given by the Lessor under this Lease are not commenced within 10 Business Days of such notice having been given, or if commenced are not diligently completed the Lessor gives written notice to the Lessee specifying any breach (other than a breach of the type referred to in (a) If or (b) above) in this Lease which breach remains unremedied 5 Business Days after giving the notice the Lessee (if an individual) shall make default be declared or adjudicated bankrupt or insolvent any assignment shall be made of the Lessee’s property for the benefit of creditors or if the Lessee compounds with the Lessee’s creditors the interests of the Lessee in making or under this Lease or in the Premises shall be attached or taken in execution under any payment herein provided for and any such default shall continue for legal process or the Lessee (if a period of ten (10company) business days after written notice to Lesseehas a resolution passed, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for an order made by a period of thirty (30) days after written notice to LesseeCourt, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization liquidation of the Lessee (which, in except for the case purposes of involuntary proceedings, are not dismissed or stayed within 30 days of reconstruction approved by the commencement thereofLessor), or if the leasehold estate created hereby shall be taken on execution Lessee is placed into receivership or by any process of law, under official or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then statutory management the Lessor may, at its option, terminate : distrain for rent or other moneys payable under this Lease without notice, and declare all amounts remaining unpaid after the due or to become due hereunder immediately due and payable, and Lessor's agents and servants may date immediately, or at any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwisesubsequently, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet demand re-enter (forcibly if necessary) the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs Premises and by such action determine the Lessee’s estate and interest in the Premises and expel and remove the Lessee and the chattels of placing the premises Lessee and those claiming under the Lessee without being guilty of any manner of trespass or conversion and in rentable condition, including any leasing commission, and, third, to which event the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter Lessor shall not be paid to Lessee, and Lessee shall remain liable for any deficiency loss or damage resulting from the exercise of any of its powers set out in rentalthis clause. Upon such event, this Lease shall cease and determine, but without releasing the amount Lessee from liability in respect of which deficiency shall be paid upon demand therefor to Lessorany breach of any covenant.

Appears in 1 contract

Samples: www.usp.ac.fj

Default by Lessee. (a) If Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment Amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly property therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lesseelessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor. Should Lessor reenter and terminate according to the provisions of this subparagraph. Lessor may remove and store the Lessee's Property at the expense and for the account of Lessee. Alternatively, Lessor may sell, or cause to be sold, Lessee's Property at public sale to the highest bidder for cash, and remove from the proceeds of such sale any rent or other payment then due Lessor under this Lease. Any disposition of the Lessee's Property pursuant thereto shall be subject to the rights of any lender to Lessee holding a mortgage on Lessee's Property and shall be made in a manner that is commercially reasonable within the meaning of the Uniform Commercial Code as in effect in the State of Virginia at the time of such disposition.

Appears in 1 contract

Samples: Asset Purchase Agreement (Entercom Communications Corp)

Default by Lessee. (a) If In the event of an Event of Default by Lessee shall make default in making the payment of any payment herein provided for monetary obligation hereunder, the Commission agrees not to exercise its remedies hereunder unless and any such default shall continue for a period of ten (10) business days after until the Commission provides written notice of such Event of Default to any Mortgagee and such Mortgagee, or the Lessee, or if Lessee shall make default in the performance have failed to cure such Event of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of Default within thirty (30) business days after following receipt of such notice and the expiration of any grace or cure periods granted to Lessee herein. In the event of an Event of Default by Lessee in the performance or observance of any non-monetary term, covenant, or condition to be performed by it hereunder, the Commission agrees not to exercise its remedies hereunder unless and until the Commission provides written notice of such Event of Default to any Mortgagee and such Mortgagee, or the Lessee, shall have failed to cure such Event of Default within sixty (60) days following receipt of such notice and the expiration of any grace or cure periods granted Lessee herein; provided, however, (x) if Lessee shall file a voluntary petition in bankruptcysuch Event of Default cannot practicably be cured by Mortgagee within such sixty (60) day period, or (y) if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency such Event of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall Default cannot practicably be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization cured by Mortgagee without taking possession of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedingsor Foreclosure, or otherwise(z) if Mortgagee is stayed, and remove all persons and properly thereinenjoined or otherwise prevented from curing such Event of Default, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service taking possession of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of LesseeForeclosing, applying any monies collected first to then the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, Commission shall not exercise its remedies hereunder if and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.so long as:

Appears in 1 contract

Samples: Lease Agreement (Aventine Renewable Energy Holdings Inc)

Default by Lessee. (a) 16. If Lessee shall make at any time be in default in making any the payment of rent herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, reserved or if Lessee shall make default in the performance of any obligation of the covenants, terms conditions or provisions of this Lease, and Lessee shall fail to remedy such default within twenty (20) days after receipt of notice thereof if the default relates to matters other than the payment of rent, or if there shall be filed by or against Lessee in any Court pursuant to any statute either of the United States or of any state, a Petition in Bankruptcy or Insolvency or for reorganization or for the appointment of a Receiver or a Trustee of all or a portion of the Lessee's property or if the Lessee makes an assignment for the benefit of creditors, or if there is an assignment by operation of law if any execution or attachment shall be levied upon any of the Lessee's property, or occupied by someone other than the Lessor, or if a receiver of any property of Lessee herein (other than as to payment of money) in or upon the Premises, be appointed in any action, suit or proceeding by or against Lessee and any such default shall continue for a period of not removed within thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof)appointment, or if the leasehold estate created hereby interest of Lessee in the Premises shall be taken on offered for sale or sold under execution or other legal process, Lessor in addition to all of the remedies given to Lessor in law or in equity, may by any process of lawwritten notice to Lessee terminate this Lease, or if without terminating this Lease re-enter the Premises by summary proceedings or otherwise, and in any event may dispossess the Lessee, it being the understanding that under no circumstances is the Lease to be an asset for Lessee's creditors by operation of law or otherwise. In the event of such re-entry, Lessor may relet the Premises without being obligated so to do, and in the event of reletting may apply the rent therefrom, first to the payment of Lessor's expenses, including attorney fees incurred by reason of Lessee's default and the expense of reletting, including but not limited to the repairs, renovation or alteration of the Premises, and then to the repayment of rent and all other sums due from Lessee hereunder, Lessee remaining liable for any deficiency. In the event of a default or threatened default by Lessee of any of the terms, provisions, covenants, conditions, rules and regulations of the Lease, Lessor shall have the right to invoke any remedy permitted to Lessor in law or in equity. All remedies available to Lessor are declared to be cumulative and concurrent. No termination of this Lease or any taking or recovering or possession of the Premises shall deprive Lessor of any of its past or future rent, nor shall the bringing of any action for rent or other default be construed as a waiver of the right to take possession of the Premises. If the Lessee shall admit in writing its inability to pay its obligations generally as they become duenot remove all effects from the Premises after termination of the Lease following default by Lessee or after Lessor shall secure possession of the Premises after default by Lessee, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons Lessee's effects from the Premises and properly therein, shall store the same without being liability for loss thereof. Lessee shall be liable to indictment, prosecution, or damage therefor, Lessor for all expenses incurred in such removal and Lessee hereby expressly waives the service storage of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessoreffects.

Appears in 1 contract

Samples: GLB Bancorp Inc

Default by Lessee. (a) If Lessee shall make default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased PremisesTower Space, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises Tower Space by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased PremisesTower Space. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises Tower Space (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.

Appears in 1 contract

Samples: Lease Agreement (Beasley Broadcast Group Inc)

Default by Lessee. (a) If default shall be made in the payment of any sum to be paid by Lessee shall make default in making any payment herein provided for under this Lease and any such default shall continue for a period of ten five (105) business days after written notice to Lesseedays, or if Lessee default shall make default be made in the performance of any obligation of the other covenants or conditions which Lessee herein (is required to observe and to perform and such default shall be made in the performance of any of the other than as covenants or conditions which Lessee is required to payment of money) observe and any to perform and such default shall continue for a period of thirty fifteen (3015) days after written notice to Lessee, or if Lessee abandons a substantial part of the Premises, or if the interest of Lessee under this Lease shall file be levied on under execution or other legal process, or if any petition shall be filed by or against Lessee to declare Lessee bankrupt or to delay, reduce or modify Lessee's debts or obligations, or if any petition shall be filed or other legal action brought to force reorganization or modification of Lessee's capital structure, or if Lessee be declared insolvent according to law, or if any assignment of Lessee's property shall be made for the benefit of creditors, or if a voluntary petition in bankruptcyreceiver or trustee is appointed for Lessee or its property, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act abandon the Premises during the term of this Lease or any amendment thereto hereafter made, seeking to effect its reorganization renewals or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement extensions thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee be a corporation and Lessee shall admit cease to exist as a corporation in writing good standing in the state of its inability to pay its obligations generally as they become dueincorporation or if Lessee be a partnership or other entity and Lessee shall be dissolved, terminated or liquidated, then Lessor maymay treat the occurrence of any one or more of the foregoing events as a breach of this Lease (provided that no such levy, execution, legal process or petition filed against Lessee shall constitute a breach of this Lease if Lessee shall vigorously contest the same by appropriate proceedings and shall remove or vacate the same within thirty (30) days from the date of its creation, service or filing) and thereupon, at its Lessor's option, terminate this Lease without notice, and declare all amounts due Lessor may have any one or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter more of the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, following described remedies in addition to any all other remedy rights and remedies provided by at law or permitted hereinin equity, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, Lessor's rights and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessorremedies being cumulative.

Appears in 1 contract

Samples: Office Lease Agreement (U S Long Distance Corp)

Default by Lessee. (a) If 15. In the event Lessee shall make default fail to pay the monthly rental by the tenth (10TH) day of the month and such failure continues for thirty (30) days after Lessee receives written notice from Lessor of such failure or if Lessee is adjudicated as bankrupt; or if Lessee files a petition in making bankruptcy under any section or division of the bankruptcy law; or if an involuntary petition is bankruptcy is filed against Lessee, and same is not withdrawn or dismissed within sixty (60) days from the filing thereof; or if a receiver or trustee is appointed for Lessee’s property and the order appointing such receiver or trustee remains in force for sixty (60) days after the entry of such order; or if, whether voluntarily or involuntarily, Lessee takes advantage of any debtor relief proceedings, under any present or future law, whereby the rent or any part thereof is, or is proposed to be, reduced or payment herein provided thereof deferred; or if Lessee makes an assignment for and any such default shall continue for a period the benefit of ten creditors; or if Lessee’s effects should be levied upon or attached under process against Lessee, not satisfied or dissolved within sixty (1060) business days after written notice from Lessor to Lessee, Lessee to obtain satisfaction thereof; or if Lessee shall make default in fail to perform or observe any other covenant, agreement, or condition to be performed or kept by the performance Lessee under the terms and provisions of any obligation of Lessee herein (other than as to payment of money) this Lease, and any such default failure shall continue for a period of thirty (30) days after written notice thereof has been given by Lessor to the Lessee; then in any one of such events, Lessor shall have the right, at the option of the Lessor, then or at any time thereafter while such default or defaults shall continue, to elect either: (1) to cure such default or defaults at the expense of Lessee and without prejudice to any other remedies which it might otherwise have, any payment made or expenses incurred by Lessor in curing such default shall bear interest thereon at 18% per annum, or at such maximum legal rate as permitted by Louisiana law, whichever shall be lower, to be and become additional rent to be paid by Lessee within thirty (30) days of written request therefor from Lessor; or (2) to terminate this Lease and upon said termination of this Lease, Lessee shall immediately surrender possession of the Premises to Lessor; or (3) re-enter the Premises and dispossess Lessee and anyone claiming under Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any by summary proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking pursuant to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days laws of the commencement thereof)State of Louisiana and remove their effects, and take complete possession of the Premises and elect to continue this Lease in full force and effect, but with the right at any time thereafter to declare this Lease terminated and the term ended; or if (4) exercise any other remedies or maintain any action permitted to Landlords pursuant to the leasehold estate created hereby shall be taken on execution Laws of the State of Louisiana. After such termination or by any in such re-entry the Lessor may, under process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove have all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee’s personal property removed from the Premises. Lessee hereby expressly waives covenants in such event, for itself and all others occupying the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of under Lessee, applying any monies collected first to peacefully yield up and surrender the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due Premises to the Lessor. Any surplus remaining thereafter Should Lessor declare this Lease terminated and the term ended, as provided for herein, the Lessor shall be paid entitled to recover from Lessee the rental and all other sums due and owing by Lessee to the date of termination, including any rental amounts heretofore waived, plus the costs of curing any of Lessee’s defaults existing at or prior to the date of termination, including reasonable attorney’s fees, plus the deficiency, if any, between Lessee’s rental hereunder and the rental that could be obtained by Lessor on another lease for the balance of the term remaining under this Lease, however, Lessor shall not be obligated to re-let the Premises, but shall use its best efforts to mitigate its damages. Should Lessor, following default as aforesaid, elect to continue this Lease in full force, Lessor may, but shall not be obligated to, rent the Premises by private negotiations, with or without advertising, and on the best terms available for the remainder of the term hereof, or for such longer or shorter period as Lessor shall deem advisable. Lessee shall remain liable for payment of all rentals and other charges and costs imposed on Lessee herein, in the amounts, at the times and upon the conditions as herein provided, but Lessor shall credit against such liability of the Lessee all amounts received by Lessor from such reletting after first reimbursing itself for all reasonable costs incurred in curing Lessee’s defaults and re-entering, preparing and refinishing the Premises for reletting, and reletting the Premises, and for the payment of any deficiency in rentalprocurement fee or commission paid to obtain another tenant, the amount of which deficiency shall be paid upon demand therefor to and for all reasonable attorney fees and legal costs incurred by Lessor.

Appears in 1 contract

Samples: Lease Agreement (SCP Pool Corp)

Default by Lessee. (a) If In the event Lessee should fail to pay any of the monthly installments of rent hereunder or if the Lessee shall make default in making fail to keep or violate any payment other such condition, stipulation or agreement herein provided for contained on the part of the Lessee to be kept and any performed, and if such default failure or violation shall continue have continued for a period of ten fifteen (1015) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than from Lessor as to payment nonpayment of money) and any such default shall continue for a period of rent or thirty (30) days after written notice from Lessor as to Lesseeany other violation, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or ifthen, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedingssuch event, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor mayLessor, at its option, may (a) terminate this Lease without notice, and declare all amounts due Lease; or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, (b) re-enter the premises by summary proceedings or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, otherwise expel Lessee and remove all persons of Lessee’s property therefrom and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to premises at the payment of expenses of resuming or obtaining possession, and, second, to best rent obtainable making reasonable efforts therefore and receive the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and therefrom; but Lessee shall remain liable for any deficiency between Lessee’s rent hereafter and the rent obtained by Lessor on reletting; or (c) if the default in rentalnonmonetary in nature, cure such default for the account of Lessee, and any amount of which deficiency paid or any contractual liability incurred by the Lessor in so doing shall be deemed paid upon demand therefor or incurred for the account of Lessee, and Lessee agrees to promptly therefore reimburse Lessor and save Lessor harmless therefrom. A default, except as to payment of rent, shall be deemed cured if Lessee in good faith commences performance necessary to cure the same within thirty (30) days after receipt of such notice and continuously and with reasonable diligence proceeds to complete the performance required to cure such default. Lessor’s rights and remedies hereunder shall be in addition to all other rights and remedies now or hereafter available to Lessor. By signing this Lease the Lessee waives its rights to a jury trial in any action for past due rent, eviction or damages related thereto.

Appears in 1 contract

Samples: Lease Agreement (Notify Technology Corp)

Default by Lessee. (a) If In the event that Lessee shall make default in making at any payment herein provided for time during the term of this Lease or any extension violates or fails to perform any of the agreements or obligations under the terms of this Lease and any does not cure such default shall continue for a period of ten (10) business days after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of within thirty (30) days after written notice to Lesseeit by Lessor of such failure or violation, Lessor may xxx to collect any and all sums which accrue to Lessor by virtue of the breach of this Lease, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its optionbut shall not be obligated to do so, without further demand for rent due or for the observance or performance of any of the terms, conditions, or agreements of this Lease, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafterthe Lease, reenter the Leased Premises premises and remove persons and property. In the event that this Lease is terminated before its expiration, by reasonably necessary force, summary proceedingsreason of Lessee’s default, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, in the event that Lessee shall abandon or damage therefor, and Lessee hereby expressly waives vacate said premises before the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment expiration of the costs of placing term, the premises in rentable condition, including any leasing commission, and, third, same may be re-rented by Lessor (but Lessor shall not be obligated to do so) for such rent and upon such terms as Lessor may see fit and such re-entry and/or re-letting shall not release the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, Lessee from its obligations hereunder and Lessee shall remain obligated and liable under the terms of this Lease for any deficiency in rentaland all deficiencies for such replacement Lessee. In addition, the amount of which deficiency Lessee shall be paid upon demand therefor responsible for any and all losses, costs, damages, expense or charges resulting from or in any way connected with its defaults hereunder, including but not limited to Lessorcourt costs, and attorney fees for re-letting.

Appears in 1 contract

Samples: Lease Agreement

Default by Lessee. If (a) If Lessee shall make default in making fails to timely pay any payment herein provided for sum to be paid by Lessee under this Lease and any such default shall continue failure continues for a period of ten 10 days following the date on which written notice thereof is given (10or deemed given) business by Lessor; provided, however, that Lessor shall be required to give only two (2) such notices in any 12-month period, per calendar year, and upon the third such failure in any l2-month period, per calendar year, Lessor shall have the right to avail itself of any or all remedies afforded to Lessor hereunder without any further notice to Lessee; (b) Lessee fails to perform any of its other duties or obligations under this Lease and such default continues for 20 days after Lessor delivers written notice to Lessee, Lessee or if Lessee shall make default deposits written notice in the performance U. S. Mail addressed to Lessee’s address above; provided, however, that if such failure is one which is not reasonably susceptible of any obligation being cured within a 20-day period, then Lessor shall not be deemed to be in default hereunder so long as Lessee commences its cure of Lessee herein such failure within such 20-day period and diligently and continuously prosecutes the cure thereof to completion within ninety (other than as to payment of money) and any such default shall continue for a period of thirty (3090) days after delivery or deposit of Lessor’s written notice of such failure; (c) any of the following actions occur and Lessee fails to contest same using Lessee’s best reasonable efforts and cause same to be removed, dismissed, or if Lessee shall file a voluntary petition in bankruptcyvacated within 30 days from the date of entry or filing: (i) Lessee’s interest under this Lease is levied on under execution or other legal process, or if Lessee shall file (ii) any petition is filed by or institute against Lessee to declare Lessee a bankrupt or to delay, reduce or modify Lessee’s debts or obligations, or (iii) any proceedings petition under the Bankruptcy Code is filed or other action taken to reorganize or modify Lessee’s capital structure, or (iv) Lessee is declared insolvent according to law, or (v) any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its general assignment of Lessee’s property is made for the benefit of creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, (vi) a receiver or trustee shall be is appointed for Lessee or its property; (d) Lessee vacates or abandons the Leased PremisesPremises and ceases payment of rent; (e) if Lessee is a corporation, or if any proceedings shall be commenced for the reorganization of Lessee (which, ceases to exist as a corporation in good standing in the case State of involuntary proceedings, are not dismissed Texas; or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or (f) if Lessee shall admit in writing its inability to pay its obligations generally as they become dueis a partnership or other entity, Lessee is dissolved or otherwise liquidated, then Lessor maymay treat the occurrence of anyone or more of the foregoing events as a breach of this Lease. Upon the occurrence of any of the foregoing events, at its Lessor’s option, terminate this Lease without notice, and declare all amounts due Lessor shall have anyone or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter more of the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor mayfollowing described remedies, in addition to any all other remedy rights and remedies provided by at law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.equity:

Appears in 1 contract

Samples: Lease Agreement (Inovio Biomedical Corp)

Default by Lessee. If LESSEE fails to repair and maintain the Aircraft, discharge all liens (aexcept for liens created by Owner), secure all licenses or registrations, pay all taxes (except for Owner’s income tax obligations), assessments, licenses, and other fees or charges, pay all costs and expenses to be paid by LESSEE, procure and maintain insurance, all as above provided, or to perform any of the other covenants or obligations of LESSEE, OWNER, at its option, may do so, and all advances and expenses incurred by OWNER in connection therewith shall be repaid by LESSEE to OWNER upon demand, together with interest thereon at the highest applicable rate allowed by law (but not more than one and one-half percent (1 1/2%) If Lessee shall make default in making any payment herein provided per month or fraction thereof) until paid. OWNER may enter upon the premises where the Aircraft is located for purpose of inspection, and any such default shall continue for a period of ten (10) business days after written may remove the Aircraft forthwith, without notice to LesseeLESSEE, if, in the reasonable opinion of OWNER, the Aircraft is being improperly used or maintained. If LESSEE shall fail to make any Regular Monthly Rental Payment or fail to pay any other amounts payable hereunder when the same are due and payable, or if Lessee shall make LESSEE should default in the performance of any obligation of Lessee herein (the other than as terms, conditions, or covenants to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseebe performed by LESSEE hereunder, or if Lessee LESSEE should default in the performance of any of the terms, conditions, or covenants to be performed by LESSEE under any other contracts or agreements between LESSEE and OWNER at any time, or if the insurance required to be maintained hereunder shall file a voluntary petition in expire or be canceled and LESSEE shall fail to replace such insurance, or if the Aircraft shall be misused or abandoned by LESSEE, or if LESSEE shall become insolvent, commit any act of bankruptcy, or if Lessee shall file any petition bankruptcy proceedings are begun by or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premisesagainst LESSEE, or if any proceedings shall be commenced a receiver is appointed for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof)LESSEE, or if the leasehold estate created hereby shall be taken on execution for any reason OWNER shall, in good faith, reasonably deem said Aircraft or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become dueitself insecure, then Lessor mayOWNER, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to and without prejudice to any other remedy provided remedies, enter upon the premises where the Aircraft is located and take possession of and remove the Aircraft, with or without notice to LESSEE, and with or without legal proceedings, and in removing the Aircraft, OWNER may, if permitted by law or permitted hereinlaw, at its option, relet the Leased Premises (or use any part thereof) on behalf of Lessee, applying any monies collected first LESSEE’s licenses in respect to the payment of expenses of resuming or obtaining possessionAircraft and OWNER may thereupon terminate this Aircraft Lease. Upon such termination, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter LESSEE shall be paid liable to Lessee, OWNER and Lessee shall remain liable for any deficiency in rental, forthwith pay OWNER the amount of which deficiency OWNER’s damages caused by LESSEE’s default(s), including, but not limited to, any and all reasonable costs and expenses incurred by OWNER in the repossession of the Aircraft (including, but not limited to, court costs and reasonable attorneys’ fees, where allowed by law, and transportation and storage expenses). In addition, LESSEE shall be paid upon demand therefor to Lessorforthwith pay OWNER any other sums due under other provisions of this Aircraft Lease, including, but not limited to, past due Regular Monthly Rental Payments, reserves for engine replacement, and late payment fees.

Appears in 1 contract

Samples: Aircraft Lease (Nb Finance Corp)

Default by Lessee. (a) If Should Lessee fail to pay Base Monthly Installments, Override Percentage Rent, CAM Charge or any other amounts due hereunder on the day when such amounts shall make default in making any payment herein provided for become due and any such default payable, and shall continue in default for a period of ten (10) business days after written notice thereof by Lessor, or should Lessee fail to comply with other obligations of this Lease, within thirty (30) days from the mailing by Lessor of notice demanding same, Lessor shall have the right, at Lessor's option to accelerate all rentals due for the unexpired remaining term of this Lease and declare same immediately due and payable; and/or to xxx for the rents in intervals or as the same accrues. The foregoing provisions are without prejudice to any remedy which might otherwise be available under Louisiana law for arrears of rent or breaches of contract, or to any lien to which Lessor may be entitled. If Lessee has taken steps to cure any default not curable in twenty (20) days, such additional reasonable time as is necessary in Lessor's sole discretion to cure such default shall be granted to Lessee. Should Lessor terminate this lease as provided in this article, Lessor may re- enter said Leased premises and remove all persons and personal property without legal process, and all claims for damages by reason of such re-entry are hereby expressly waived by Lessee. Lessor's failure to strictly and promptly enforce these conditions shall not operate as a waiver of Lessor's rights, Lessor hereby expressly reserving the right to always enforce prompt payment of rent, or if to cancel this Lease regardless of any indulgences or extensions previously granted. In the event Lessee shall make default defaults in the performance of any obligation of Lessee herein (other than as to payment the terms, covenants, agreements or conditions contained in this Lease and Lessor places the enforcement of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseethis Lease, or if Lessee shall file a voluntary petition in bankruptcyany part thereof, or if Lessee shall file the collection of any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payablehereunder, or recovery of the possession of the Property in the hands of an attorney, or files suit upon same, Lessee agrees to pay Lessor's reasonable attorney's fees, and Lessor's agents the other costs and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, Lessor incurred to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessorenforce this Lease.

Appears in 1 contract

Samples: North American Gaming & Entertainment Corp

Default by Lessee. 9. If default shall be made in the payment of any sum to be paid by Lessee under this Lease, and default shall continue for ten (a10) If days, or default shall be made in the performance of any of the other covenants or conditions which Lessee shall make default in making any payment herein provided for is required to observe and any to perform, and such default shall continue for twenty (20) days, or if the interest of Lessee under this Lease shall be levied on under execution or other legal process, or if any petition shall be filed by or against Lessee to declare Lessee a period bankrupt or to delay, reduce or modify Lessee's debts or obligations, or if any petition shall be filed or other action taken to reorganize or modify Lessee's capital structure if Lessee be a corporation or other entity; or if Lessee be declared insolvent according to law, or if any assignment of ten (10) business days after written notice to Lessee's property shall be made for the benefit of creditors, or if a receiver or trustee is appointed for Lessee or its property, or if Lessee shall make default in abandon (The Leased Premises shall not be considered as abandoned as long as rent is being paid.) the performance Leased Premises during the term of this Lease or any renewals or extensions thereof, then Lessor may treat the occurrence of any obligation one or more of the foregoing events as a breach of this Lease (provided that no such levy, execution, legal process or petition filed against Lessee herein (other than as to payment shall constitute a breach of money) this Lease if Lessee shall vigorously contest the same by appropriate proceedings and any such default shall continue for a period of remove or vacate the same within thirty (30) days after written notice to Lesseefrom the date of its creation, service or if Lessee shall file a voluntary petition in bankruptcyfiling) and thereupon, at Lessor's option, may have any one or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days more of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, following described remedies in addition to any all other remedy rights and remedies provided by at law or permitted herein, at its option, relet the Leased Premises in equity: or five (or any part thereof5) on behalf days after receipt of written notice by Lessee, applying any monies collected first to such notice being delivered by Lessor on the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of eleventh (11th) day after rent due hereunderis not received, and any other damages due to the Lessor. Any surplus remaining thereafter such notice shall not be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount required of which deficiency shall be paid upon demand therefor to Lessor.Lessor more than twice per annum

Appears in 1 contract

Samples: Lease Agreement (Caprock Communications Corp)

Default by Lessee. If (a) If Lessee fails to timely pay any sum to be paid by Lessee under this Lease. (Lessor shall make default in making any payment herein provided for and any such default endeavor, but shall continue for a period of ten (10) business days after not be obligated, to deliver written notice to LesseeLessee within 15 days after the occurrence of any such failure to timely pay; Lessor shall not be in default of this Lease, or be deemed to waive Lessee"s failure to pay, if Lessor fails to deliver such notice); (b) Lessee shall make default in the performance fails to perform any of any obligation of Lessee herein (its other than as to payment of money) duties or obligations under this Lease and any such default shall continue continues for a period of thirty (30) 20 days after Lessor delivers written notice to Lessee or deposits written notice in the U. S. Mail addressed to Lessee's address above, except that said 20 day period shall be extended up to 10 additional days if Lessee commences to cure within the 20 day period and is diligently pursuing to cure the default; (c) any of the following actions occur and Lessee fails to contest same using Lessee"s best reasonable efforts, and cause same to be removed, dismissed, or if Lessee shall file a voluntary petition in bankruptcyvacated within 30 days from the date of entry or filing: (i) Lessee's interest under this Lease is levied on under execution or other legal process, or if Lessee shall file (ii) any petition is filed by or institute against Lessee to declare Lessee a bankrupt or to delay, reduce or modify Lessee's debts or obligations, or (iii) any proceedings petition under the Bankruptcy Code is filed or other action taken to reorganize or modify Lessee's capital structure, or (iv) Lessee is declared insolvent according to law, or (v) any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its general assignment of Lessee's property is made for the benefit of creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, (vi) a receiver or trustee shall be is appointed for Lessee or the Leased Premisesits property; (d) if Lessee is a corporation, or if any proceedings shall be commenced for the reorganization of Lessee (which, ceases to exist as a corporation in good standing in the case State of involuntary proceedings, are not dismissed Texas; or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or (e) if Lessee shall admit in writing its inability to pay its obligations generally as they become dueis a partnership or other entity, Lessee is dissolved or otherwise liquidated, then Lessor maymay treat the occurrence of any one or more of the foregoing events as a breach of this Lease. Upon the occurrence of any of the foregoing events, at its Lessor's option, terminate this Lease without notice, and declare all amounts due Lessor shall have any one or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter more of the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor mayfollowing described remedies, in addition to any all other remedy rights and remedies provided by at law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.equity:

Appears in 1 contract

Samples: Lease Agreement (Telxon Corp)

Default by Lessee. (a) If any of the rent or other sums of money to be paid by Lessee shall make default in making any payment herein provided for not be paid as and any such default shall continue for a period of ten (10) business days after written notice to Lessee, when the same becomes due or if Lessee shall make default in the performance of any obligation of Lessee the other agreements, conditions, covenants or terms herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseecontained, or if Lessee shall file a voluntary petition in bankruptcyabandon the premises, or fail to timely commence operations, as described in Article III; or if this lease or the estate of Lessee hereunder shall file be transferred or passed to or devolve upon any petition other person, firm, association or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, corporation except in the manner provided hereunder; then and in any proceedings based on of said events, District shall have the insolvency right to terminate this lease and the term hereby granted, as well as the right, title and interest of Lessee hereunder; provided, however, that the District shall first give Lessee 30 days' notice in writing of such default, specifying in particularity the nature of the default, and shall give Lessee the opportunity to cure such default within such 30-day period. If Xxxxxx should fail to cure such default within such 30-day notice period, District may terminate this lease; and it is agreed that upon the expiration of the term fixed in such notice, if the nonpayment, default or relating to bankruptcy proceedingsother cause of termination specified in such notice shall not have been made good or removed, a receiver or trustee shall be appointed for Lessee or this lease and the Leased Premisesterm hereby granted and created, or if any proceedings shall be commenced for as well as all the reorganization right, title and interest of Lessee (whichhereunder shall, at the option of the District, terminate in the case same manner and with the same force and effect as if the expiration of involuntary proceedings, are not dismissed or stayed within 30 days time in such notice were the end of the commencement thereof), or if term herein originally demised; and the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants District may immediately, or at any time thereafter, reenter the Leased Premises by reasonably necessary forceand without further notice or demand, summary proceedingsenter into and upon said premises, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to in the payment of expenses of resuming or obtaining possession, and, second, to the payment name of the costs whole, and repossess the same as of placing its first and former estate and expel the premises Lessee and those claiming under it, and remove its effects (forcibly, if necessary) without being taken or deemed guilty of any manner of trespass, and without prejudice to any remedies which might be otherwise used for arrears of rent or preceding breach of covenants. Notwithstanding the termination of this lease and possession regained by District, Xxxxxx will indemnify District against all loss of rent which may accrue to District by reason of such termination during the remainder of the lease term. Xxxxxx specifically agrees that this Article supersedes its rights under Section 93.002 of the Texas Property Code. In the event District does not exercise the right hereinabove given it, it may accept rent from the receiver, trustee or other officer in rentable possession thereof for the term of such occupancy without impairing or affecting in any way the right of District against Lessee hereunder. Any neglect or failure to enforce the right of forfeiture of this lease or re-entry upon breach of any of the conditions, covenants, terms and agreements herein contained, shall not be deemed a waiver of such right upon any subsequent breach of any such or any other condition, including any leasing commissioncovenant, andterm and/or agreement herein contained. It is understood and agreed that no part of the time of the discontinuance or cessation in operation referred to in Article III that is caused by the interference of military authorities, thirdstrikes, to the payment of rent due hereunderfloods, and fires, navigation hazards, embargoes, or limitations on production instituted by state, national or local authorities, or any other damages due to act not within the Lessor. Any surplus remaining thereafter control of either party hereto, shall be paid to Lessee, and Lessee shall remain liable for any deficiency counted in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor90-day period mentioned in said Article III.

Appears in 1 contract

Samples: www.portofbrownsville.com

Default by Lessee. If LESSEE fails to repair and maintain the Aircraft, discharge all liens (a) If Lessee shall make default in making except for liens created by Owner), secure all licenses or registrations, pay all taxes (except for any payment herein provided for sales tax due on OWNER's purchase of the Aircraft and any such default of Owner's income tax obligations), assessments, licenses, and other fees or charges, pay all costs and expenses to be paid by LESSEE, procure and maintain insurance, all as above provided, or to perform any of the other covenants or obligations of LESSEE, OWNER, at its option, may do so, and all advances and expenses incurred by OWNER in connection therewith shall continue be repaid by LESSEE to OWNER upon demand, together with interest thereon at the highest applicable rate allowed by law (but not more than one and one-half percent (1.5%) per month or fraction thereof) until paid. OWNER may enter upon the premises where the Aircraft is located for a period purpose of ten (10) business days after written inspection, and may remove the Aircraft forthwith, without notice to LesseeLESSEE, if, in the reasonable opinion of OWNER, the Aircraft is being improperly used or maintained. If LESSEE shall fail to make any Regular Monthly Rental Payment or fail to pay any other amounts payable hereunder when the same are due and payable, or if Lessee shall make LESSEE should default in the performance of any obligation of Lessee herein (the other than as terms, conditions, or covenants to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lesseebe performed by LESSEE hereunder, or if Lessee LESSEE should default in the performance of any of the terms, conditions, or covenants to be performed by LESSEE under any other contracts or agreements between LESSEE and OWNER at any time, or if the insurance required to be maintained hereunder shall file a voluntary petition in expire or be canceled and LESSEE shall fail to replace such insurance, or if the Aircraft shall be misused or abandoned by LESSEE, or if LESSEE shall become insolvent, commit any act of bankruptcy, or if Lessee shall file any petition bankruptcy proceedings are begun by or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premisesagainst LESSEE, or if any proceedings shall be commenced a receiver is appointed for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof)LESSEE, or if the leasehold estate created hereby shall be taken on execution for any reason OWNER shall, in good faith, reasonably deem said Aircraft or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become dueitself insecure, then Lessor mayOWNER, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to and without prejudice to any other remedy provided remedies, (a) may enter upon the premises where the Aircraft is located and take possession of and remove the Aircraft, with or without notice to LESSEE, and with or without legal proceedings, and in removing the Aircraft, OWNER may, if permitted by law law, use any of LESSEE's licenses in respect to the Aircraft, and/or (b) may terminate this Aircraft Lease, and/or (c) may sell, lease or permitted herein, at its option, relet the Leased Premises (otherwise dispose of all or any part thereofof the Aircraft at public or private sale, with or without advertisement or publication, with or without notice to LESSEE, and with or without legal proceedings; provided that such sale is conducted in accordance with the requirements of applicable law. Upon such termination, LESSEE shall be liable to OWNER and shall forthwith pay OWNER the amount of OWNER's damages caused by LESSEE's default(s), including, but not limited to, (a) any and all reasonable costs and expenses incurred by OWNER in the repossession or disposition of the Aircraft (including, but not limited to, court costs and reasonable attorneys' fees, where allowed by law, and transportation and storage expenses), plus (b) any other sums due under other provisions of this Aircraft Lease, including, but not limited to, past due Regular Monthly Rental Payments, reserves for engine replacement, and late payment fees, plus (c) as liquidated damages for loss of a bargain and not as a penalty, and in lieu of any further payments of rent, the stipulated loss value of the Aircraft as of the month preceding the date of OWNER's demand as shown on behalf the Amortization Schedule attached hereto and incorporated herein as Annex "B", plus (d) interest at the rate of Lessee, applying any monies collected first 18% per annum on the total of the foregoing from the date of demand to the date of payment of expenses of resuming or obtaining possession, and, second, (and the parties acknowledge that the foregoing money damage calculation reasonably reflects OWNER's anticipated loss with respect to the payment Aircraft and this Lease resulting from the event of default and the termination of this Lease due to such default by LESSEE). If OWNER actually repossesses the Aircraft, then OWNER shall not be required to sell, lease or otherwise dispose of the costs Aircraft prior to OWNER enforcing any of placing the premises remedies described above. OWNER shall sell, lease or otherwise dispose of the Aircraft in rentable conditionany manner it chooses so long as such disposition is conducted in accordance with the requirements of applicable law, including free and clear of any leasing commission, and, third, claims or rights of LESSEE and without any duty to account to LESSEE with respect thereto except as provided below. If OWNER actually sells or leases the Aircraft pursuant to the payment remedies provided above in this Article 9A, then OWNER will credit the net proceeds of rent due hereunderany sale of the Aircraft, or the net present value (discounted at the then current LIBOR plus 300 basis points) of the rents payable under any new lease of the Aircraft, against and up to (but not exceeding) the amounts payable by LESSEE under any of the preceding paragraphs of this Article 9A and any other damages due amounts LESSEE owes OWNER hereunder, or will reimburse LESSEE for and up to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor(but not exceeding) LESSEE's payment thereof.

Appears in 1 contract

Samples: Aircraft Lease (National Beef Packing Co LLC)

Default by Lessee. 1 (a) If In the event of any failure of Lessee to pay any rent or other sums when due hereunder, or if this Lease or any portion of Lessee's interest hereunder be assigned or the Demised Premises or any portion thereof be sublet, either voluntarily or by operation of law, except as herein provided, or if Lessee shall make be in breach of its obligation included under Article VII, paragraph 1 of this Lease, or if Lessee shall be in breach of its obligations included under Article VIII, Paragraph 3 or if Lessee defaults in performing any of the other terms, conditions or covenants of this Lease to be observed or performed by Lessee for more than three (3) days after notice of such default has been given to Lessee, or if Lessee or an agent of Lessee shall falsify any report required to be furnished to Lessor pursuant to the terms of this Lease, or suffer this Lease to be taken under any writ of execution, then, and in making any one or more of such events (herein "Event OF DEFAULT"), Lessor shall have the immediate right to reenter the Demised Premises, either by summary proceedings, by force or otherwise, and to dispossess Lessee and all other occupants therefrom and remove and dispose of all property therein or at Lessor's election, to store such property in a public warehouse or elsewhere at the cost of, and for the account of Lessee, all without service of any notice of intention to reenter and with or without resort to legal process (which Lessee hereby expressly waives) and without Lessor being deemed guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby. Upon the occurrence of any such Event of Default, Lessor shall also have the right, at its option, in addition to and not in limitation of any other right or remedy, to terminate this Lease by giving Lessee three (3) days notice of cancellation and upon the expiration of said three (3) days, this Lease and the term hereof shall end and expire as fully and completely as if the date of expiration of such three (3) day period were the date herein definitely fixed for the end and expiration of this Lease and the term hereof and thereupon, unless Lessor shall have theretofore elected to reenter the Demised Premises, Lessor shall have the immediate right of reentry, in the manner aforesaid, and Lessee and all other occupants shall quit and surrender the Demised Premises to Lessor, but Lessee shall remain liable as hereinafter provided; provided, however, that if Lessee shall default (i) in the timely payment herein provided for of any Minimum Rent or any item of additional rent payable hereunder or in the timely reporting of Adjusted Gross Sales as required by Article III hereof and any such default shall continue or be repeated for two (2) consecutive months, or for a total of four (4) months in any period of ten twelve (1012) business days after written notice to Lesseemonths, or if Lessee shall make default (ii) in the performance of any obligation other covenants of Lessee herein this Lease more than six (other than as to payment of money6) and any such default shall continue for a period of thirty (30) days after written notice to Lesseetimes, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or ifthe aggregate, in any proceedings based on period of twelve (12) months then, notwithstanding that such defaults shall have been cured within the insolvency of Lessee or relating to bankruptcy proceedingsperiod after notice as above provided, a receiver or trustee any further similar default shall be appointed for deemed to be deliberate and Lessor thereafter may serve said three (3) day notice of cancellation without affording to Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability an opportunity to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessorcure such further default.

Appears in 1 contract

Samples: 5th Avenue Channel Corp

Default by Lessee. (a) If Unico agrees that in case of its failure in any substantial respect to keep and fulfill any one or more of the covenants or agreements herein or its failure to pay any net smelter returns due Kaibab Industries, or payments due on that Equipment Purchase Agreement between the parties dated April 1, 2003, Lessor may declare Lessee to be in default. Upon any default by Lessee, Lessor shall give Lessee written notice of such default and Lessee shall make have thirty days (30 days) thereafter to correct such default. In the event said default in making any payment herein provided for and any such default shall continue for a period of ten (10) business days remains uncorrected after written notice to Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of said thirty (30) days after written notice to days, this Revised Lease Agreement shall terminate. Upon expiration or termination of this Revised Lease Agreement, for any reason other than the exercise of the purchase option by Lessee, or if Lessee shall file have a voluntary petition period of 30 days in bankruptcywhich to remove any and all of its own mining equipment being used in operating the Leased Premises or transporting ore from such operations; Lessee shall post any required reclamation bond and complete any and all reclamation activities required by federal, state or local law within said 30 days, or if as soon thereafter as possible; and Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking agrees to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency surrender and deliver to Lessor quiet and peaceable possession of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises. In the event that a default occurs due to Lessee's failure to pay to Lessor any net smelter returns due to the Lessor, then Lessee shall continue to be liable to pay all delinquent net smelter returns to Lessor, regardless of whether Lessor terminates this Lease. In the event that a default occurs due to Lessee's failure to meet the minimum production requirements specified in Section 4 of this Revised Lease Agreement, then Lessor's exclusive remedy shall be to terminate this Revised Lease Agreement. In no event shall Lessee be required to pay to Lessor the value of any net smelter returns that Lessor would have received if the minimum production requirements had been met, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid Lessee's failure to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessormeet minimum production requirements.

Appears in 1 contract

Samples: Unico Inc /Az/

Default by Lessee. If (a) If default shall be made in the timely payment of any sum to be paid by Lessee under this Lease, or (b) default shall make default be made in making the performance of any payment herein provided for of the other covenants or conditions which Lessee is required to observe and any to perform and such default shall continue for a period of ten twenty (1020) business days after written notice is delivered to Lessee or deposited in the u. s. Mail addressed to Lessee's address above, or if Lessee shall make default in (c) the performance of any obligation interest of Lessee herein (under this Lease shall be levied on under execution or other than as legal process, or any petition shall be filed by or against Lessee to payment declare Lessee bankrupt or to delay, reduce or modify Lessee's debts or obligations, or any petition under the Bankruptcy Code shall be filed or other action taken to reorganize or modify Lessee's capital structure, or Lessee be declared insolvent according to law, or any general assignment of money) Lessee's property shall be made for the benefit of creditors, or a receiver or trustee is appointed for Lessee or its property, and provided that Lessee fails to vigorously contest any such default shall continue for a period of levy, execution, legal process or petition filed against Lessee and to cause same to be removed, dismissed or vacated within thirty (30) days after written notice to Lesseefrom the date of its entry or filing, or (d) Lessee shall vacate or abandon the Premises, and is in monetary default, or (e) if Lessee shall file be a voluntary petition corporation and Lessee shall thereafter cease to exist as a corporation in bankruptcygood standing in the State of Texas, or (f) if Lessee shall file any petition be a partnership or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of other entity and Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee dissolved or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become dueotherwise liquidated, then Lessor maymay treat the occurrence of anyone or more of the foregoing events as a breach of this Lease and thereupon, at its Lessor's option, terminate this Lease without noticeLessor may have anyone or more of the following described remedies, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage therefor, and Lessee hereby expressly waives the service of any notice in writing of intention to reenter said Leased Premises. Lessor may, in .in addition to any all other remedy rights and remedies provided by at law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.equity:

Appears in 1 contract

Samples: Lease Agreement (Enchira Biotechnology Corp)

Default by Lessee. The occurrence of any one or more of the following events shall constitute a default and breach of this Outlease by Lessee (ahereinafter “Event of “Default”): (i) If Lessee shall fails to make default in making any payment herein provided for of Rent on the Rent Due Date or any other payment required to be made by the Lessee under this Outlease, when due, and any such default failure shall continue for a period of ten (10) business days after Lessor has given Lessee written notice of such failure; or (ii) Lessee abandons the Premises for thirty days or more, or fails to observe or perform any term, covenant, condition or the provisions of this Outlease required to be observed or performed by Lessee, where such failure is not cured to the full satisfaction of the Lessor within 30 days after written notice by the Lessor to Lessee of said failure Upon such Event of Default by Lessee, or if Lessee shall make default in the performance of any obligation of Lessee herein (other than as to payment of money) and any such default shall continue for a period of thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof), or if the leasehold estate created hereby shall be taken on execution or by any process of law, or if Lessee shall admit in writing its inability to pay its obligations generally as they become due, then Lessor mayLessor, at its option, terminate without further notice or demand, shall have the right to any one or more of the following remedies in addition to all other rights and remedies provided at law or in equity or elsewhere herein: a) declare this Lease without notice, Outlease ended and declare all amounts due or to become due hereunder immediately due terminated and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter re-enter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons and properly therein, without being liable to indictment, prosecution, or damage thereforthings therefrom, and the Lessee hereby expressly waives the all service of any demand or notice in writing of intention to reenter said Leased Premises. prescribed by any law or statute whatsoever; and (b) Lessor maymay enter the Premises and eject Lessee, in addition forcibly or otherwise, without regard to any other remedy provided by law or permitted hereinstatute to the contrary, at its option, relet the Leased Premises (or any part thereof) on behalf dispose of Lessee, applying any monies collected first to ’s personal property in the payment of expenses of resuming or obtaining possession, and, second, to Premises as deemed in the payment best interest of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain be liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessor.such damages as Lessor may incur. Outlease Agreement Revised 10.19. 2016 XXX

Appears in 1 contract

Samples: Outlease Agreement (American River Bankshares)

Default by Lessee. (a) 16. If Lessee shall make at any time be in default in making any the payment of rent herein provided for and any such default shall continue for a period of ten (10) business days after written notice to Lessee, reserved or if Lessee shall make default in the performance of any obligation of the covenants, terms conditions or provisions of this Lease, and Lessee shall fail to remedy such default within twenty (20) days after receipt of notice thereof if the default relates to matters other than the payment of rent, or if there shall be filed by or against Lessee in any Court pursuant to any statute either of the United States or of any state, a Petition in Bankruptcy or Insolvency or for reorganization or for the appointment of a Receiver or a Trustee of all or a portion of the Lessee's property or if the Lessee makes an assignment for the benefit of creditors, or if there is an assignment by operation of law if any execution or attachment shall be levied upon any of the Lessee's property, or occupied by someone other than the Lessor, or if a receiver of any property of Lessee herein (other than as to payment of money) in or upon the Premises, be appointed in any action, suit or proceeding by or against Lessee and any such default shall continue for a period of not removed within thirty (30) days after written notice to Lessee, or if Lessee shall file a voluntary petition in bankruptcy, or if Lessee shall file any petition or institute any proceedings under any Insolvency or Bankruptcy Act or any amendment thereto hereafter made, seeking to effect its reorganization or a composition with its creditors, or if, in any proceedings based on the insolvency of Lessee or relating to bankruptcy proceedings, a receiver or trustee shall be appointed for Lessee or the Leased Premises, or if any proceedings shall be commenced for the reorganization of Lessee (which, in the case of involuntary proceedings, are not dismissed or stayed within 30 days of the commencement thereof)appointment, or if the leasehold estate created hereby interest of Lessee in the Premises shall be taken on offered for sale or sold under execution or other legal process, Lessor in addition to all of the remedies given to Lessor in law or in equity, may by any process of lawwritten notice to Lessee terminate this Lease, or if without terminating this Lease re-enter the Premises by summary proceedings or otherwise, and in any event may dispossess the Lessee, it being the understanding that under no circumstances is the Lease to be an asset for Lessee's creditors by operation of law or otherwise. In the event of such re-entry, Lessor may relet the Premises without being obligated so to do, and in the event of reletting may apply the rent therefrom, first to the payment of Lessor's expenses, including attorney fees incurred by reason of Lessee's default and the expense of reletting, including but not limited to the repairs, renovation or alteration of the Premises, and then to the repayment of rent and all other sums due from Lessee hereunder, Lessee remaining liable for any deficiency. In the event of a default or threatened default by Lessee of any of the terms, provisions, covenants, conditions, rules and regulations of the Lease, Lessor shall have the right to invoke any remedy permitted by Lessor in law or in equity. All remedies available to Lessor are declared to be cumulative and concurrent. No termination of this Lease or any taking or recovering or possession of the Premises shall deprive Lessor of any of its past or future rent, nor shall the bringing of any action for rent or other default be construed as a waiver of the right to take possession of the Premises. If the Lessee shall admit in writing its inability to pay its obligations generally as they become duenot remove all effects from the Premises after termination of the Lease following default by Lessee or after Lessor shall secure possession of the Premises after default by Lessee, then Lessor may, at its option, terminate this Lease without notice, and declare all amounts due or to become due hereunder immediately due and payable, and Lessor's agents and servants may immediately, or any time thereafter, reenter the Leased Premises by reasonably necessary force, summary proceedings, or otherwise, and remove all persons Lessee's effects from the Premises and properly therein, shall store the same without being liability for loss thereof. Lessee shall be liable to indictment, prosecution, or damage therefor, Lessor for all expenses incurred in such removal and Lessee hereby expressly waives the service storage of any notice in writing of intention to reenter said Leased Premises. Lessor may, in addition to any other remedy provided by law or permitted herein, at its option, relet the Leased Premises (or any part thereof) on behalf of Lessee, applying any monies collected first to the payment of expenses of resuming or obtaining possession, and, second, to the payment of the costs of placing the premises in rentable condition, including any leasing commission, and, third, to the payment of rent due hereunder, and any other damages due to the Lessor. Any surplus remaining thereafter shall be paid to Lessee, and Lessee shall remain liable for any deficiency in rental, the amount of which deficiency shall be paid upon demand therefor to Lessoreffects.

Appears in 1 contract

Samples: GLB Bancorp Inc

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