Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇: (a) Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or (b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or (c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or (d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or (e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.
Appears in 1 contract
Sources: Industrial Lease (EnviroStar, Inc.)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇Tenant:
(a) Tenant fails to pay any ▇▇▇ ▇ny Base Rent, or any additional monthly rent under Section 3.1, section 3.1 hereof, or any additional rent or other amount of money or charge payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) business days after ▇▇▇▇▇▇▇▇ Landlord gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by Tenant, a court or government a▇▇▇▇▇▇, a court or government authority ty enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.; or
Appears in 1 contract
Sources: Industrial Lease (Foster L B Co)
Default by Tenant. The occurrence of any one or more of the following events ("“Event of Default"”) shall constitute a breach of this Lease by ▇▇▇▇▇▇Tenant:
(a) Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, 3.1 hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇L▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant T▇▇▇▇▇ as and when performance or observance is due and such failure or breach continues for more than ten thirty (1030) days after Landlord L▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten thirty (1030) days, an Event of Default shall not exist as long as Tenant promptly commences with due diligence and dispatch the curing of such failure or breach within such period of ten thirty (1030) days and, having so commenced, thereafter prosecutes its efforts with continuous diligence and dispatch in good faith and completes the curing of such failure or breachbreach within a reasonable period of time; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' ’ relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's ’s property; or
(d) Without consent by ▇T▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's ’s property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' ’ relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days; or
(f) There is an Event of Default under that certain L▇▇▇▇ being entered into contemporaneously herewith (“Adjacent Lease”) for premises therein identified as the 2 ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ building, located at 2 ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇ (herein the “Cross Default” or the “Cross Default event”). All references to an Event of Default shall include without limitation and be deemed to also mean any instance of a Cross Default event as well.
Appears in 1 contract
Sources: Industrial Lease (Amrep Corp.)
Default by Tenant. The occurrence (a) This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth. If any one or more of the following events shall occur, to-wit: ("Event i) if any installment of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails to pay any Fixed Base Rent, Percentage Rent, or any additional monthly rent under Section 3.1, hereofother sums required to be paid by Tenant hereunder, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written noticepart thereof, shall at any time be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as arrears and when performance or observance is due and such failure or breach continues unpaid for more than ten (10) days after Landlord gives the date due, or (ii) if there be any default on the part of the Tenant in the observance or performance of any of the other covenants, agreements or conditions of said Lease on the part of Tenant to be kept and performed and said default shall continue for a period of fifteen (15) days after written notice thereof from Landlord to Tenant; provided, however, that if, by the nature of Tenant (unless such agreement or covenant, such failure or breach default cannot reasonably be cured within fifteen (15) days and in such period of ten case, Tenant shall have commenced to cure said default within said fifteen (1015) days, an Event of Default shall not exist as long as Tenant commences with due diligence days and dispatch thereafter continues diligently to pursue to completion the curing of such failure same) or breach within such period of ten (10iii) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) if Tenant (i) files, or consents by answer or otherwise to the filing against it of, shall file a petition for relief or reorganization or arrangement or any other petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for liquidation itself under any present or to take advantage of any bankruptcyfuture federal, insolvency state or other debtors' relief statute, law of any jurisdictionor regulation, (ii) makes or make an assignment for the benefit of its creditors, or (iiiiv) consents to the appointment of a custodianif any trustee, receiver, trustee receiver or other officer with similar powers liquidator of Tenant or of all or any substantial part of Tenant's property; or
(d) Without consent its properties shall be appointed in any action, suit or proceeding by ▇▇▇▇▇▇, a court or government authority enters an order, against Tenant and such order is proceeding or action shall not vacated have been dismissed within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's propertydays after such appointment, or (iiv) constituting an order for relief if the leasehold estate hereby created shall be taken by execution or approving a petition for relief or reorganization or arrangement or any by other petition in bankruptcy or for liquidation or to take advantage process of any bankruptcy, insolvency or other debtors' relief law of any jurisdictionlaw, or (iiivi) ordering if Tenant shall fail to operate and conduct business as required in Section 8 hereinabove, then, in any such event, Landlord, at Landlord's option and without limiting Landlord in the dissolutionexercise of any other right or remedy Landlord may have on account of any default by Tenant, windingmay either:
(1) re-up enter the Premises, take possession of all buildings, improvements, additions, alterations, equipment and fixtures thereon, and eject all parties in possession therefrom, using such force for that purpose as may be necessary, without being liable to any prosecution for said re-entry or liquidation the use of such force, and, without terminating this Lease, at anytime and from time to time relet the Premises or any part or parts thereof for the account of Tenant or otherwise, receive and collect the rents therefor, applying the same first to payment of such expenses as Landlord may have paid, assumed or incurred in recovering possession of the Premises, including costs, expenses and reasonable attorney's fees and brokerage, paid, assumed or incurred by Landlord in connection with reletting the Premises, and then to the fulfillment of the covenants of Tenant; or
(e) This . Any such reletting as provided for herein may be for the remainder of the Term as originally granted or for a longer or shorter period. Landlord may execute any Lease made pursuant to the terms hereof in Landlord's own name, and Tenant shall have no right or authority whatever to collect any rent from such subtenant. In any case and whether or not the Premises or any estate part thereof be relet, Tenant shall pay to Landlord all sums required to be paid by Tenant up to the time of re-entry by Landlord, and thereafter Tenant hereunder is levied upon shall, if required by Landlord, pay to Landlord until the end of the Term the equivalent amount of all rent and other charges required to be paid by Tenant under any attachment or execution the terms of this lease, less the avails of such reletting during the Term, if any, after payment of the expenses of Landlord as aforesaid, and such attachment or execution is not vacated within thirty (30) days.the same shall be due and payable on the several rent days herein
Appears in 1 contract
Sources: Lease Agreement (Dominion Homes Inc)
Default by Tenant. The occurrence happening of any one or more of the following enumerated events ("Event of Default") shall constitute a breach default for which Landlord, in addition to other rights or remedies it may have, shall have the immediate right of re-entry without service of notice or resort to legal process and without Landlord being guilty of trespass, or becoming liable for any loss or damage which maybe occasioned thereby: (a) failure of Tenant to pay any rent due hereunder within ten (10) days when due; (b) vacation of the Leased Premises by Tenant or advertising by Tenant in any manner that would indicate or lead the public to believe that ▇▇▇▇▇▇ was going out of business or intending to vacate the Leased Premises; (c) the filing by, on behalf of or against Tenant, of any petition or pleading to declare Tenant insolvent or unable to pay its debts or meet its obligations under the laws of the United States or any state; or a receiver of the property of Tenant is appointed; or the levy of execution or other taking of property, assets or the leasehold interest of Tenant by process of law or otherwise in satisfaction of any judgment, debt or claim against Tenant; or (d) failure of Tenant to perform any of the other terms, conditions or covenants of this Lease by agreement for more than twenty (20) days after written notice of such failure shall have been given to Tenant. Should Landlord elect to re-enter and terminate ▇▇▇▇▇▇:
(a) Tenant fails to pay any Base Rent's use of the Leased Premises as herein provided, or should Landlord take possession pursuant to legal proceedings or pursuant to any additional monthly rent provisions under Section 3.1law, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of Landlord may either terminate this Lease or it may from time to time without terminating this Lease, make such alterations and repairs as may be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof necessary in order to Tenant; provided, however, that if, by relet the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an orderLeased Premises, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.relet the
Appears in 1 contract
Sources: Office Lease
Default by Tenant. The occurrence of any one If Tenant shall fail or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails refuse to pay any Base Rent, or any additional monthly the rent under Section 3.1, hereof, ----------------- reserved herein or any other amount of money payable sums due by Tenant hereunder as and when such rent becomes due and payable and such failure default continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days andafter the date due; or if Tenant shall fail to observe or comply with any of the terms, having so commenced, thereafter prosecutes with diligence provisions or conditions of this Lease to be observed and dispatch performed by Tenant and completes such default continues for a period of thirty (30) days after receipt of written notice by Landlord to Tenant; or upon the curing of such failure or breach; or
(c) making by Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an general assignment for the benefit of its creditors, the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (iiiunless, in the case of a petition filed against Tenant, the same is dismissed with prejudice within sixty (60) consents to days), the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order receiver to take possession that is not vacated restored to Tenant within thirty (30) days, (i) appointing a custodianor the attachment, receiver, trustee execution or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution judicial seizure that is not vacated discharged within thirty (30) days, then in any such case or event, Landlord, at Landlord's option and in addition to any other remedies Landlord may have, shall have the following rights, which may be exercised independently or concurrently:
(1) The right to declare the entire remaining unpaid rental for the term of this Lease immediately due and payable forthwith at the then-current rate of monthly rental and take any legal action to recover and collect the same;
(2) The right, without further notice or demand, to terminate this Lease, to re-enter the Leased Premises, or any part thereof, and expel and remove all persons or property occupying the Leased Premises, and to take possession of any and all furniture, fixtures and chattels in or on the Leased Premises and sell same, in whole or in part, at any place, or cause the same to be sold at public or private sale, with notice to Tenant, without obtaining any execution order or decrees, to the highest bidder for cash, with or without such property being present at the sale, and apply the proceeds thereof to the payment of costs and expenses of taking and removing the property and holding the sale and of rents and amounts owing Landlord; any excess going to Tenant, and Tenant agrees to make good any deficiency; and/or
(3) The right, but the Landlord shall not be under any obligation to do so, to enter the Leased Premises, or any part thereof, and expel and remove all persons, property and signs therefrom, and relet the same, for the account of the Tenant, for such rent and such terms as shall be satisfactory to Landlord without such re-entry working on a forfeiture of the rents to be paid and the covenants to be performed by the Tenant during the full term of this Lease. If a sufficient sum shall not be realized monthly from such re-letting after paying all the costs and expenses of such repairs, changes, alterations or additions, the expenses of such re-letting and the collection of the rent accruing therefrom to satisfy the monthly rent provided herein to be paid by the Tenant, then the Tenant shall and will, and does hereby covenant to pay such deficiency each month upon demand therefor. If a non-monetary default by Tenant requires more than thirty (30) days to cure, Tenant shall not be deemed to be in default, if, in good faith, it has commenced to cure such default within said thirty (30) day period and diligently pursues the same. Notwithstanding anything to the contrary contained in this Lease, if Tenant pays the rent provided in this Lease then Tenant shall be deemed not to have abandoned the Leased Premises, subject to the provisions of Section 6.
Appears in 1 contract
Sources: Lease Agreement (Crawford Equipment & Engineering Co)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute be a default and breach of this Lease by ▇▇▇▇▇▇Tenant:
(ai) Tenant fails shall fail to pay (A) any Base Rent, monthly installment of base rent or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable the Annual Rental Adjustment and such failure continues for more than nonpayment shall not have been cured within five (5) business days after ▇▇▇▇▇▇▇▇ gives written the date of Tenant's receipt of notice of such nonpayment, or (B) any other additional rent and such nonpayment shall not have been cured within thirty (30) days after the date of Tenant's receipt of notice of such nonpayment;
(ii) Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of thirty (30) days after notice thereof to Tenantfrom Landlord; provided, however, that after if the second such failure in a calendar yearterm, only the passage of timecondition, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform covenant or breaches any other agreement or covenant of this Lease obligation to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach nature that the same cannot reasonably be cured performed within such period of ten thirty (1030) daysday period, an Event of Default such default shall not exist as long as be deemed to have been cured if Tenant commences with due diligence such performance within said thirty (30) day period and dispatch thereafter diligently undertakes to complete the curing same;
(iii) A trustee or receiver shall be appointed to take possession of such failure substantially all of Tenant's assets in, on or breach about the Premises or of Tenant's interest in this Lease (and Tenant does not regain possession within such period of ten sixty (1060) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of after such failure or breachappointment); or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, ; or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part substantially all of Tenant's propertyassets in, on or about the Premises or Tenant's interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter); orand
(div) Without consent A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by ▇▇▇▇▇▇or against Tenant pursuant to any federal or state statute (and, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part such petition filed against it, Tenant fails to secure a stay or discharge thereof within sixty (60) days after the filing of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) dayssame).
Appears in 1 contract
Sources: Lease (Telxon Corp)
Default by Tenant. The occurrence Tenant shall create, and there shall exist, an event of any one or more of the following events default (herein called an "Event of Default") under this Lease Agreement if:
(A) Tenant shall constitute a breach fail to pay any installment of Base Rent or other amounts required to be paid or expended by it under the provisions of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails to pay any Base RentAgreement, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of timeincluding, but no further written noticenot limited to, shall be taxes, insurance premiums and/or costs of indemnity required to establish an Event of Default in be paid by Tenant, when the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as shall become due for payment and when performance or observance is due and if such failure or breach continues default shall remain uncured for more than ten (10) consecutive business days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default default shall not exist as long as have been given to Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breachby Landlord; or
(cB) Tenant shall fail to perform or comply with any non-monetary obligation of Tenant under this Lease Agreement, and if Tenant shall not commence the correction of such default within thirty (i30) files, or consents by answer or otherwise days after notice of such default from Landlord and shall not proceed with due diligence to the filing against it of, complete such correction within a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, reasonable time; or
(iiC) makes an Tenant shall make a general assignment for the benefit of its creditors, or (iii) consents to if Tenant's interest in the appointment of a custodian, receiver, trustee Premises is sold upon execution or other officer with similar powers of Tenant or of any substantial part of Tenant's propertylegal process; or
(dD) Without consent Tenant shall suffer a receiver to be appointed in any action or proceeding by ▇▇▇▇▇▇, a court or government authority enters an orderagainst Tenant, and such order appointment is not vacated stayed or discharged within thirty sixty (3060) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's propertydays after the commencement thereof, or (ii) constituting an order for relief or approving if Tenant is a petition for relief or reorganization or arrangement or debtor in any other petition in bankruptcy or for liquidation or insolvency proceeding conducted pursuant to take advantage the laws of any bankruptcy, insolvency state or other debtors' relief law of a political subdivision of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution state and such attachment or execution proceeding is not vacated stayed or discharged within thirty sixty (3060) days.days after the
Appears in 1 contract
Default by Tenant. The Landlord and Tenant hereby agree that the occurrence of any one or more of the following events ("Event of Default") shall constitute is a breach of material default by Tenant under this Lease by ▇▇▇▇▇▇:and that said default shall give Landlord the rights described in Section 13.2. Landlord or Landlord's authorized agent shall have the right to serve any notice of default, notice to pay rent or quit or similar notice.
(a) Tenant fails Tenant's failure to pay make any payment of Base Rent, or any additional monthly rent under Section 3.1Tenant's Share of Operating Expense increases, hereofparking charges, charges for after hours HVAC, late charges, or any other amount of money payable payment required to be made by Tenant hereunder hereunder, as and when such rent becomes due and payable and due, where such failure continues shall continue for more than a period of five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof from Landlord to Tenant. In the event that Landlord serves Tenant with a notice to pay rent or quit pursuant to applicable unlawful detainer statutes, such notice shall also constitute the notice required by this Section 13.1(a).
(b) The abandonment of the Premises by Tenant in which event Landlord shall not be obligated to give any notice of default to Tenant.
(c) The failure by Tenant to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by Tenant (other than those referenced in Sections 13.1(a) and (b), above), where such failure shall continue for a period of twenty (20) days after written notice thereof from Landlord to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by if the nature of Tenant's non-performance is such agreement or covenantthat more than twenty (20) days are reasonably required for its cure, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default then Tenant shall not exist as long as be deemed to be in default if Tenant commences such cure within said twenty (20) day period and thereafter diligently pursues such cure to completion. In the event that Landlord serves Tenant with due diligence and dispatch a notice to quit pursuant to applicable unlawful detainer statutes, said notice shall also constitute the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; ornotice required by this Section 13.1(c).
(c) Tenant (i) files, The making by Tenant or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or any guarantor of any general arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an general assignment for the benefit of its creditors; (ii) Tenant or any guarantor becoming a "debtor" as defined in 11 U.S.C. 101 or any successor statute thereto (unless, in the case of a petition filed against Tenant or guarantor, the same is dismissed within sixty (60) days); (iii) consents to the institution of proceedings seeking the appointment of a custodian, receiver, trustee or other officer with similar powers receiver to take possession of Tenant or of any substantial part substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within sixty (60) days or the institution of a foreclosure proceeding against Tenant's real or personal property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.
Appears in 1 contract
Sources: Deed of Lease (Jaymark Inc)
Default by Tenant. The occurrence A. If (a) Tenant defaults in fulfilling any of the covenants of this Lease on Tenant’s part to be fulfilled, other than the covenants for the payment of Fixed Rent or additional rent, then, in any one or more of such events, upon Landlord serving a ten (10) days’ Notice upon Tenant specifying the following events nature of said default, and upon the expiration of said ten ("Event 10) days, if Tenant shall have failed to comply with or remedy such default, or if the said default or omission complained of Default"shall be of such a nature that the same cannot be completely cured or remedied within said ten (10) day period, and if Tenant shall constitute a breach not have diligently commenced curing such default within such ten (10) day period, and shall not thereafter with reasonable diligence and in good faith proceed to remedy or cure such default or (b) Tenant shall default in the performance of any term or condition of this Lease by ▇▇▇▇▇▇:
(aother than the payment of Fixed Rent or additional rent) more than three (3) times in any period of nine (9) months, or, with respect to the payment of any item of Fixed Rent or additional rent, more than two (2) times in any period of six (6) months, and notwithstanding that such defaults shall have each been cured within the applicable period, as above provided, if any further similar default shall occur or (c) Tenant fails to pay any Base Rent, shall default in the payment of Fixed Rent or any item of additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days Business Days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; providedNotice from Landlord of such default or (d) a Bankruptcy Event, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default then (in the same calendar year; or
event of (a), (b), (c), or (d) Tenant fails to perform or breaches any other agreement or covenant above) Landlord may serve a three (3) days’ Notice of cancellation of this Lease to be performed or observed by Tenant as upon Tenant, and when performance or observance is due and such failure or breach continues for more than ten upon the expiration of said three (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (103) days, an Event this Lease and the Term shall end and expire as fully and completely as if the date of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing expiration of such failure or breach within such three (3) day period were the Expiration Date set forth herein and Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable as hereinafter provided.
B. If the Notices provided for in Section 20.01A hereof shall have been given, and the Term shall expire as aforesaid; then Landlord may, without additional Notice, dispossess Tenant and the legal representative of ten (10) days and, having so commenced, thereafter prosecutes with diligence Tenant and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage occupant of any bankruptcythe Premises by self-help, insolvency summary proceedings or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, legal actions or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an orderproceedings, and such order is remove their effects and hold the Premises as if this Lease had not vacated within thirty (30) daysbeen made, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to but Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant shall remain liable hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysas hereinafter provided.
Appears in 1 contract
Sources: Lease Agreement (Olo Inc.)
Default by Tenant. The occurrence of any one or more Each of the following events ("occurrences shall constitute an Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:Default (herein so called):
(a) the failure of Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, hereof, Additional Rent or any other amount of money payable by Tenant hereunder due under this Lease as and when such rent becomes due hereunder and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing continuance of such failure or breach within such for a period of ten (10) days andafter written notice from Landlord to Tenant specifying the failure; provided, having so commencedhowever, thereafter prosecutes after Landlord has given Tenant written notice pursuant to this clause 24.1(a) on two separate occasions within any twelve (12) month period, Landlord shall not be required to give Tenant any further notice under this clause 24.1(a). Notwithstanding the foregoing, the obligation of Tenant to pay a late charge or interest pursuant to this Lease shall commence as of the due date of the Rent or other monetary obligation as provided in Section 5.7 above.
(b) the failure of Tenant to perform, comply with diligence or observe any other agreement, obligation or undertaking of Tenant, or any other term, condition or provision in this Lease, and dispatch and completes the curing continuance of such failure or breach; orfor a period of twenty (20) days after written notice from Landlord to Tenant specifying the failure;
(c) The involuntary transfer by Tenant of Tenant=s interest in this Lease or the voluntary attempt to or actual transfer of its interest in this Lease, without Landlord=s prior written consent;
(d) The failure of Tenant to discharge any lien placed as a result of Tenant=s action or inaction upon the Premises or Building as set forth hereunder;
(e) The occurrence of a Net Tenant Delay, as defined in the Work Letter Agreement, of forty-five (45) calendar days or more;
(f) the filing of a petition by or against Tenant (the term "Tenant" also meaning, for the purpose of this clause 24.1(d), any guarantor of the named Tenant's obligations hereunder) (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or in any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, other insolvency or other debtors' relief law of any jurisdictionproceeding, (ii) makes seeking any relief under the Bankruptcy Code or any similar debtor relief law, (iii) for the appointment of a liquidator or receiver for all or substantially all of Tenant's property or for Tenant's interest in this Lease, or (iv) to reorganize or modify Tenant's capital structure; and
(g) the admission by Tenant in writing that it cannot meet its obligations as they become due or the making by Tenant of an assignment for the benefit of its creditors. . Upon any Event of Default, Landlord may, at Landlord's option in its sole discretion, and in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity, do any one or more of the following:
(a) terminate this Lease by the giving of written notice to Tenant; reenter the Premises, repossess and enjoy the Premises and all Tenant Improvements; and recover from Tenant all of the following: (i) all Rent and other amounts accrued hereunder to the date of termination, (ii) all amounts due under Section 24.3, and (iii) consents liquidated damages in an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to present value at the prime lending rate (or equivalent rate, however denominated) in effect on the date of termination at the largest national bank in the state where the Complex is located, minus (B) the then-present fair rental value of the Premises for such period, similarly discounted, plus any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant=s failure to perform its obligations under this Lease or which would be likely to result therefrom, including, without limitation, attorneys= fees, brokers= commissions or finder=s fees;
(b) terminate Tenant's right to possession of the Premises without terminating this Lease by the giving of written notice to Tenant, in which event Tenant shall pay to Landlord (i) all Rent and other amounts accrued hereunder to the appointment date of a custodiantermination of possession, receiver(ii) all amounts due from time to time under Section 24.3, trustee or and (iii) all Rent and other officer with similar powers sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during said period. Reentry by Landlord in the Premises will not affect the obligations of Tenant hereunder for the unexpired Term. Landlord may bring action against Tenant to collect amounts due by Tenant on one or more occasions, without the necessity of Landlord's waiting until expiration of the Term. If Landlord elects to proceed under this Section 24.2(b), it may at any substantial part time elect to terminate this Lease pursuant to Section 24.2(a);
(c) without notice, alter any and all locks and other security devices at the Premises without being obligated to deliver new keys to the Premises, unless Tenant has cured all Events of Tenant's propertyDefault before Landlord has terminated this Lease under Section 24.2(a) or has entered into a lease to relet all or a portion of the Premises; orand/or
(d) Without consent by ▇▇▇▇▇▇if an Event of Default specified in Section 24.1(c) occurs, a court Landlord may remove and store any property that remains on the Premises and, if Tenant does not claim such property within ten (10) days after Landlord has delivered to Tenant notice of such storage, Landlord may appropriate, sell, destroy or government authority enters an orderotherwise dispose of the property in question without notice to Tenant or any other person, and without any obligation to account for such order is not vacated within property. The abandonment of the Premises by Tenant or the failure of Tenant to occupy the Premises or any significant portion thereof for a period of in excess of thirty (30) dayscalendar days shall not constitute an Event of Default hereunder, but shall entitle Landlord, at its election, to terminate the Lease upon written notice to Tenant. The termination right of Landlord in such event shall be in addition to all other rights, remedies and recourses afforded Landlord hereunder or by law or equity upon the occurrence of an Event of Default. No taking possession of the Premises by Landlord shall be construed as Landlord=s acceptance of a surrender of the Premises by Tenant or an election of Landlord to terminate this Lease unless written notice of such intention is given to Tenant. Notwithstanding any leasing or subletting without termination of the Lease, Landlord may at any time thereafter elect to terminate the Lease for Tenant=s previous breach. . Upon any Event of Default, Tenant shall also pay to Landlord all costs and expenses incurred by Landlord, including court costs and reasonable attorneys' fees, in (a) retaking or otherwise obtaining possession of the Premises, (ib) appointing removing and storing Tenant's or any other occupant's property, (c) constructing the Tenant Improvements or otherwise incurred in connection with the Tenant Improvement Allowance Items as defined in the Work Letter Agreement, (d) repairing, restoring, altering, remodeling or otherwise putting the Premises into condition acceptable to a custodiannew tenant or tenants, receiver(e) reletting all or any part of the Premises, trustee (f) paying or performing the underlying obligation which Tenant failed to pay or perform, and (g) enforcing any of Landlord's rights, remedies or recourses arising as a consequence of the Event of Default. . Upon termination of this Lease or upon termination of Tenant's right to possession of the Premises, Landlord shall use reasonable efforts to relet the Premises on such terms and conditions as Landlord in its sole discretion may determine (including a term different than the Term, rental concessions, and alterations to and improvements of the Premises); however, Landlord shall not be obligated to relet the Premises before leasing other officer with similar powers portions of the Building. Landlord shall not be liable for, nor shall Tenant's obligations hereunder be diminished because of, Landlord's failure to relet the Premises or collect rent due with respect to such reletting. If Landlord relets the Premises, rent Landlord receives from such reletting shall be applied to the payment of: first, any indebtedness from Tenant or with respect to any substantial part of Tenant's propertyLandlord other than Rent (if any); second, or (ii) constituting an order all costs, including for relief or approving a petition for relief or reorganization or arrangement or any other petition maintenance and alterations, incurred by Landlord in bankruptcy or for liquidation or reletting; and third, Rent due and unpaid. In no event shall Tenant be entitled to take advantage the excess of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering rent obtained by reletting over the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysRent herein reserved.
Appears in 1 contract
Default by Tenant. The occurrence of any of the following events and the expiration of any grace periods hereafter described shall constitute an "Event of Default" under this Lease on the part of Tenant: -----------------
(a) Tenant shall fail to pay any sum to be paid by Tenant under this Lease, and such failure shall continue for five (5) days after Tenant's receipt of written notice from Landlord (provided that Landlord shall only be obligated to give Tenant written notice of any monetary default twice in any twelve (12) month period, and thereafter Tenant shall be deemed in default within five (5) days after failure to make such payment without requirement of notice from Landlord);
(b) Tenant shall assign its interest in this Lease or sublet any portion of the Leased Premises except as permitted in this Lease or Tenant shall otherwise breach the provisions of Section 5.4 of this Lease;
(c) a breach shall be made in the performance of any of the other covenants or conditions which Tenant is required to observe and to perform (other than those referred to in subsections (a) and (b) above), and such breach shall continue for fifteen (15) days after notice from Landlord of such breach (unless with respect to any default which cannot be cured within fifteen (15) days due to causes beyond Tenant's reasonable control, Tenant, in good faith, after receiving such notice, shall have commenced and thereafter shall continue diligently to perform all action necessary to cure such default);
(d) if Tenant or any guarantor of this Lease is a corporation, Tenant or any such guarantor shall cease to exist as a corporation in good standing in the state of its incorporation, or, if Tenant or any guarantor of this Lease is a partnership or other entity, Tenant or any such guarantor shall be dissolved or otherwise liquidated;
(e) if the interest of Tenant under this Lease shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such interest pursuant to such order or decree, or (bb) thirty (30) days after entry of the order;
(f) Tenant shall fail or refuse to move into or take possession of the Leased Premises within thirty (30) days after the Commencement Date; or
(g) if a breach occurs under, or any guarantor of this Lease neglects or fails to perform or observe, any covenant, term, provision, or condition contained in any such guaranty of this Lease. If an Event of Default on the part of Tenant shall have occurred under this Lease, then or at any time thereafter while such Event of Default continues, Landlord, at Landlord's option, may have any one or more of the following events described remedies in addition to all other rights and remedies provided at law or in equity:
("i) Landlord, with or without terminating this Lease, may immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant's part to keep, observe, perform, satisfy or abide by any term, condition, covenant, agreement or obligation of this Lease and Tenant shall fully reimburse and compensate Landlord on demand for the costs incurred by Landlord in doing so; or
(ii) Landlord may terminate this Lease and forthwith repossess the Leased Premises and remove all persons or property therefrom, and be entitled to recover forthwith as damages a sum of money equal to the total of (A) the cost of recovering the Leased Premises (including, without limitation, reasonable attorneys' fees and costs of suit), (B) the cost as reasonably estimated by Landlord of any alterations of, or repairs to, the Leased Premises which are necessary or proper to prepare the same for reletting, (C) the unpaid Rent owed at the time of termination, plus interest thereon from due date at the Interest Rate, (D) the present value of the balance of the Rent for the remainder of the Term less the present value of the fair market rental value (and in computing the fair market rental value the factors taken into account shall include without limitation the market rental concessions and the time necessary to relet the Leased Premises) of the Leased Premises for said period (in each case using a discount rate of eight percent (8%) per annum), and (E) any other sum of money and damages owed by Tenant to Landlord; or
(iii) Landlord may terminate Tenant's right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry or detainer suit or otherwise without demand or notice of any kind to Tenant and without terminating this Lease, and remove all persons or property therefrom, using such force as may be necessary (Tenant hereby waiving any claim by reason of such reentry, repossession or removal or by issuance of any distress warrant or writ of sequestration), in which event Landlord may (but shall be under no obligation to do so unless required by law), relet the Leased Premises or any part thereof for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord (however, to the extent Landlord is so required by law to relet the Leased Premises, Landlord shall be under no obligation to relet the Leased Premises or any portion thereof in preference to any other space in the Complex or on terms unsatisfactory to Landlord). For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises, or provide leasing inducements or brokerage commissions that may be necessary or convenient, and (A) if Landlord shall fail or refuse to relet the Leased Premises, or (B) if relet and a sufficient sum shall not be realized from such reletting (after paying the unpaid amounts due hereunder earned but unpaid at the time of reletting plus interest thereon at the Interest Rate, the cost of recovering possession [including, without limitation, attorneys' fees and costs of suit], all of the costs and expenses of such decorations, repairs, changes, alterations and additions and all other expenses of such reletting [including, without limitation, leasing inducements and brokerage commission] and of the collection of the rent accruing therefrom) to satisfy the Rent provided for in this Lease to be paid, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods or, if the Leased Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time as the same accrues or becomes due. Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 6.8 from time to time on one or more occasions without Landlord being obligated to wait until expiration of the Term, and no delivery or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of this Lease, Tenant hereby waives all claims for damages which may be caused by such re-entry or termination by Landlord. No such re-entry or termination shall be considered or construed to be a forcible entry; or
(iv) Landlord is entitled and is hereby authorized, without any notice to Tenant whatsoever, to enter upon the Leased Premises by use of a master key, a duplicate key, picking the locks, or other peaceable means, and to change, alter, and/or modify the door locks on all entry doors of the Leased Premises, thereby excluding Tenant, and its officers, principals, agents, employees, visitors and representatives therefrom. In the event that Landlord has either terminated Tenant's right of possession to the Leased Premises pursuant to the foregoing provisions of this Lease, or has terminated this Lease by reason of the Event of Default") , Landlord shall constitute not thereafter be obligated to provide Tenant with a breach of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails key to pay the Leased Premises at any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenanttime; provided, however, that after in any such instance, during Landlord's normal business hours and at the second convenience of Landlord, and upon the written request of Tenant accompanied by such failure written waivers and releases as Landlord may require, Landlord will escort Tenant or its authorized personnel to the Leased Premises to retrieve any personal belongings or other property of Tenant not subject to Landlord's liens or security interests described in a calendar year, only this Lease or available under applicable laws. If Landlord elects to exclude Tenant from the passage of time, but no further written notice, shall be required Leased Premises without permanently repossessing the Leased Premises or terminating this Lease pursuant to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant foregoing provisions of this Lease Lease, then Landlord (at any time prior to permanent repossession or termination) shall not be performed or observed by obligated to provide Tenant a key to re-enter the Leased Premises until such time as all delinquent Rent has been paid in full and when performance or observance is due all other Events of Default, if any, have been completely cured to Landlord's satisfaction, and Landlord has been given assurance reasonably satisfactory to Landlord evidencing Tenant's ability to satisfy its remaining obligations under this Lease. During any such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such temporary period of ten (10) daysexclusion, an Event of Default shall not exist as long as Landlord will, during Landlord's regular business hours and at Landlord's convenience, upon written request by Tenant, escort Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise its authorized personnel to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or Leased Premises to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers retrieve personal belongings of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an orderits employees, and such order other property of Tenant as is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect subject to Tenant or with respect to any substantial part of TenantLandlord's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition liens and security interests described in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This this Lease or available under applicable laws. The provisions hereof shall override and control any estate conflicting provisions of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty Section 93.002 of the Texas Property Code (30) daysas amended).
Appears in 1 contract
Default by Tenant. The occurrence This lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth, and if any one or more of the following events ("Event of Default") default shall constitute a breach of this Lease by ▇▇▇▇▇▇:
occur, to-wit: (a) Tenant fails to pay any Base Rentinstallment of rent, or any additional monthly rent under Section 3.1rent, hereoftaxes, or any other amount of money payable sums required to be paid by Tenant hereunder as hereunder, or any part thereof, shall at any time be in arrears and when such rent becomes due and payable and such failure continues unpaid for more than five fifteen (515) days after ▇▇▇▇▇▇▇▇ gives written demand thereof, or (b) there be any default on the part of Tenant in the observance or performance of any of the other continue for a period of fifteen (15) days after written notice thereof from Landlord to Tenant; provided, however, that after the second Tenant (unless such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach default cannot reasonably be cured within such period of ten fifteen (1015) days, an Event of Default days and Tenant shall not exist as long as Tenant commences with due diligence have commenced to cure said default within fifteen (15) days and dispatch continues diligently to pursue the curing of such failure the same), or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) filesshall file a petition in bankruptcy, or consents by file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or otherwise to the filing against it ofsimilar relief for itself under any present or future federal, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency state or other debtors' relief law of any jurisdictionstatute, (ii) makes an law, or regulation, or make assignment for the benefit of its creditors, or (iiid) consents to the appointment of a custodianany trustee, receiver, trustee receiver or other officer with similar powers liquidator of Tenant or (e) of all or any substantial part of Tenant's property; or
its properties or (df) Without consent of the leased premises shall be appointed in any action, suit or proceeding by ▇▇▇▇▇▇, a court or government authority enters an order, against Tenant and such order is proceeding or action shall not vacated have been dismissed within thirty (30) daysdays after such appointment, or the leasehold estate hereby created shall admit in writing its inability to pay its obligations generally as they become due, or (ig) appointing a custodianTenant shall vacate or abandon the leased premises, receiverthen and in any of said cases, trustee Landlord at its option may terminate this lease and re-enter upon the leased premises and take possession thereof with full right to sue for and collect all sums or other officer with similar powers amounts with respect to which Tenant ▇▇▇ then be in default and accrued up to the time of such entry, including damages to Landlord by reason of any breach or with respect to any substantial default on the part of Tenant's property, or (ii) constituting an order Landlord may, if it elects to do so, bring suit for relief the collection of such rents and damages without entering into possession of the leased premises or approving a petition for relief voiding this lease. In addition to, but not in limitation of, any of the remedies set forth in this lease or reorganization given to Landlord by law or arrangement in equity, Landlord shall also have the right and option, in the event of any default by Tenant under this lease and the continuance of such default after the period of notice above provided, to retake possession of the leased premises from Tenant without process of law, by summary proceedings or otherwise, and it is agreed that the commencement and prosecution of any action by Landlord in forcible entry and detainer, ejectment or otherwise, or any execution of any judgment or degree obtained in any action to recover possession of the leased premises, shall not be construed as an election to terminate this lease unless Landlord expressly exercises its option hereinabove provided to declare the term hereof ended, whether such entry or re-entry be had or taken under summary proceedings or otherwise, and shall not be deemed to have absolved or discharged Tenant from any of its obligations and liability for the remainder of the term of this lease, and Tenant shall, notwithstanding such entry or re-entry, continue to be liable for conditions hereof and shall pay to Landlord all monthly deficits after any such re-entry in monthly installments as the amounts of such deficits from time to time are ascertained and, in the event of any such ouster, Landlord rents or leases the leased premises to some other petition person, firm or corporation (whether for a term greater, less than or equal to the unexpired portion of the term created hereunder) for an aggregate rent during the portion of such new lease co-extensive with the term created hereunder which is less the rent and other charges which Tenant would pay hereunder for such period, Landlord may immediately upon the making of such new lease or the creation of such new tenancy sue for the recovery of the differences between the aggregate rental ▇▇▇vided, for in bankruptcy said new lease for the portion of the term co-extensive with the term created hereunder and the rent which Tenant would pay hereunder for such period, together with any expense to which Landlord may be put for brokerage commission, placing the leased premises in tenantable condition or otherwise. If such new lease or tenancy is made for liquidation a shorter term than the balance of the term of this lease, any such action brought by Landlord to collect the deficit for that period shall not bar Landlord from thereafter suing for any loss accruing during the balance of the unexpired term of this lease. If Tenant at any time shall fail to pay any assessments or liens, or to take advantage of make any bankruptcypayment or perform any action required by this lease to be made or performed by it, insolvency Landlord, without waiving or other debtors' relief law of releasing Tenant from any jurisdictionobligation or default under this lease, may (but shall be under no obligation to) at any time thereafter make such payment or (iii) ordering perform such act for the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate account and at the expense of Tenant hereunder is levied provided Landlord has given a 15 day prior notification in writing to Tenant. All sums so paid by Landlord and all costs and expenses so incurred shall accrue interest at the rate of eighteen (18%) percent from the date of payment or incurring thereof by Landlord and shall constitute additional rent payable by Tenant under this lease and shall be paid by Tenant to Landlord upon demand. All other sums payable by Tenant to Landlord under this lease, if not paid when due, provided Landlord has given a 15 day written notice to Tenant, shall accrue interest at the rate of eighteen (18%) percent from their due date until paid, said interest to be so much additional rent under this lease and shall be paid to Landlord by Tenant upon demand. All rights and remedies of Landlord herein are cumulative, and none shall exclude any attachment other remedies allowed at law or execution and such attachment or execution is not vacated within thirty (30) daysin equity.
Appears in 1 contract
Default by Tenant. The occurrence of 15.1 If, at any time during the Term, any one or more of the following events ("each of which being herein called an “Event of Default"”) shall constitute a breach of this Lease by ▇▇▇▇▇▇occur, to wit:
(a) Tenant fails to pay when due any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable sum required to be paid hereunder which is not received by Tenant hereunder as and Landlord when such rent becomes due and payable and such failure continues shall continue for more than a period of five (5) business days after ▇▇▇▇▇▇▇▇ the date on which Landlord gives Tenant written notice thereof to Tenant; provided, however, that after the second of such failure in (a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year“Monetary Default”); or
(b) Tenant fails to perform or breaches observe any of Tenant’s obligations, covenants, or agreements (other agreement or covenant of this Lease than a Monetary Default) to be performed or observed by Tenant as and when performance or observance is due under this Lease and such failure or breach continues shall continue for more than ten thirty (1030) days after Landlord gives written notice thereof from Landlord to Tenant; provided, however, except that if, by the nature of such agreement or covenant, if such failure cannot, because of Unavoidable Delays or breach cannot reasonably otherwise, be cured within such period of ten thirty (1030) daysday period, an Event of Default and if Tenant shall not exist as long as Tenant commences with due diligence and dispatch the curing of have commenced to cure such failure or breach within such thirty (30) day period of ten (10) days andor as soon as reasonably feasible following an Unavoidable Delay, having so commencedand continues to prosecute such cure with reasonable diligence thereafter, thereafter prosecutes with diligence and dispatch and completes then the curing of time to cure such failure or breachshall be extended for such period as may be necessary to complete such cure with reasonable diligence, subject to Unavoidable Delays; or
(c) Tenant (i) files, admits in writing that it cannot meet its obligations as they become due; or consents by answer is declared insolvent according to any applicable Legal Requirement; or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment of Tenant’s property is made for the benefit of creditors; or a receiver or trustee is appointed for Tenant or a substantial portion of its creditorsproperty; or the interest of Tenant under this Lease is levied on under execution or other legal process; or any petition is filed by or against Tenant or Guarantor to declare Tenant bankrupt; or any petition is filed or other action taken to reorganize or modify Tenant’s or Guarantor’s capital structure if Tenant is a corporation or other entity. Any such levy, execution, legal process, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of petition filed against Tenant or Guarantor shall not constitute a breach of any substantial part this Lease provided Tenant or Guarantor shall contest the same by appropriate proceedings and shall remove or vacate the same within sixty (60) days from the date of Tenant's propertyits creation, service, or filing; or
(d) Without consent Tenant ceases to exist as a corporation.
15.2 In the event of any Event of Default by ▇▇▇▇▇▇Tenant, Landlord, at its option, may pursue one or more of the following remedies without notice or demand in addition to all other rights and remedies provided for at law or in equity:
(a) Upon an Event of Default, Landlord may, at its option, terminate this Lease by written notice to Tenant and recover possession of the Premises. No act by Landlord (including, without limitation, acts of maintenance, efforts to relet the Premises, or the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under the Lease) other than giving written notice to Tenant shall terminate this Lease. Following such termination, Landlord may recover from Tenant damages arising from the Event of Default and the termination of this Lease, including without limitation the following:
(i) The Worth at the Time of Award of the unpaid Rent which had been earned at the time of termination; plus
(ii) The Worth at the Time of Award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus
(iii) The Worth at the Time of Award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; plus
(iv) any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform Tenant’s obligations under this Lease, or which, in the ordinary course of things, would be likely to result therefrom. As used in Sections 15.2(a)(i) and 15.2(a)(ii) above, the “Worth at the Time of Award” shall be computed by allowing interest at the Default Rate. As used in Section 15.2(a)(iii) above, the “Worth at the Time of Award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus five percent (5%).
(b) Landlord shall have the remedy, described in California Civil Code 1951.4 (Landlord may continue the lease in effect after lessee’s breach and abandonment and recover rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable limitations).
15.3 If Landlord shall exercise any one or more remedies hereunder granted or otherwise available, it shall not be deemed to be an acceptance or surrender of the Premises by Tenant whether by agreement or by operation of law; it is understood that such surrender can be effected only by the written agreement of Landlord and Tenant.
15.4 Each right and remedy provided for in this Lease shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited to, suits for injunctive relief and specific performance. The exercise or beginning of the exercise by Landlord of any one or more of the rights or remedies provided for in this Lease or now or hereafter existing at law or in equity, or by statute or otherwise shall not preclude the simultaneous or later exercise by Landlord of any or all other rights or remedies provided for in this Lease or now or hereafter existing at or in equity or by statute or otherwise. All such rights and remedies shall be considered cumulative and non-exclusive. All costs incurred by Landlord in connection with collecting any Rent or other amounts and damages owing by Tenant pursuant to the provisions of this Lease, or to enforce any provision of this Lease, including reasonable attorneys’ fees from the date such matter is turned over to an attorney, whether or not one or more actions are commenced by Landlord, shall also be recoverable by Landlord from Tenant. If any notice and grace period required under Section 15.1(a) or Section 15.1(b) was not previously given, a court notice to pay rent or government authority enters an orderquit, or to perform or quit, as the case may be, given to Tenant under any statute authorizing the forfeiture of leases for unlawful detainer shall also constitute the applicable notice for grace period purposes required by Section 15.1(a) or
Section 15.1 (b). In such case, the applicable grace period under Section 15.1(a) or Section 15.1(b) and under the unlawful detainer statute shall run concurrently after the one such statutory notice, and the failure of Tenant to cure the default within the greater of the two (2) such order is grace periods shall constitute both an unlawful detainer and an Event of Default entitling Landlord to the remedies provided for in this Lease and/or by said statute.
15.5 Notwithstanding anything contained in this Section 15 to the contrary, any proceeding or action involving bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, or appointment of a receiver or trustee, as set forth above, shall be considered to be an Event of Default only when such proceeding, action, or remedy shall be taken or brought by or against the then holder of the leasehold estate under this Lease.
15.6 No endorsement or statement on any check or letter of Tenant shall be deemed an accord and satisfaction or recognized for any purpose whatsoever. The acceptance of any such check or payment shall be without prejudice to Landlord’s rights to recover any and all amounts owed by Tenant hereunder and shall not vacated be deemed to cure any other default nor prejudice Landlord’s rights to pursue any other available remedy, Landlord’s acceptance of partial payment of rent does not constitute a waiver of any rights, including without limitation any right Landlord may have to recover possession of the Premises.
15.7 Landlord’s failure to perform any of its obligations under this Lease shall constitute a default by Landlord under this Lease if the failure continues for thirty (30) days after written notice of the failure from Tenant to Landlord. If the required performance cannot be completed within thirty (30) days, (i) appointing Landlord’s failure to perform shall constitute a custodian, receiver, trustee or other officer with similar powers with respect default under the Lease unless Landlord undertakes to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering cure the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated failure within thirty (30) daysdays and diligently and continuously attempts to complete this cure as soon as reasonably possible. All obligations of each party hereunder shall be construed as covenants, not conditions.
Appears in 1 contract
Sources: Lease (Verisign Inc/Ca)
Default by Tenant. The occurrence (a) This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth. If any one or more of the following events shall occur, to-wit: ("Event i) if any installment of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails to pay any Fixed Base Rent, Percentage Rent, or any additional monthly rent under Section 3.1, hereofother sums required to be paid by Tenant hereunder, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written noticepart thereof, shall at any time be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as arrears and when performance or observance is due and such failure or breach continues unpaid for more than ten (10) days after Landlord gives the date due, or (ii) if there be any default on the part of the Tenant in the observance or performance of any of the other covenants, agreements or conditions of said Lease on the part of Tenant to be kept and performed and said default shall continue for a period of fifteen (15) days after written notice thereof from Landlord to Tenant; provided, however, that if, by the nature of Tenant (unless such agreement or covenant, such failure or breach default cannot reasonably be cured within fifteen (15) days and in such period of ten case, Tenant shall have commenced to cure said default within said fifteen (1015) days, an Event of Default shall not exist as long as Tenant commences with due diligence days and dispatch thereafter continues diligently to pursue to completion the curing of such failure same) or breach within such period of ten (10iii) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) if Tenant (i) files, or consents by answer or otherwise to the filing against it of, shall file a petition for relief or reorganization or arrangement or any other petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for liquidation itself under any present or to take advantage of any bankruptcyfuture federal, insolvency state or other debtors' relief statute, law of any jurisdictionor regulation, (ii) makes or make an assignment for the benefit of its creditors, or (iiiiv) consents to the appointment of a custodianif any trustee, receiver, trustee receiver or other officer with similar powers liquidator of Tenant or of all or any substantial part of Tenant's property; or
(d) Without consent its properties shall be appointed in any action, suit or proceeding by ▇▇▇▇▇▇, a court or government authority enters an order, against Tenant and such order is proceeding or action shall not vacated have been dismissed within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's propertydays after such appointment, or (iiv) constituting an order for relief if the leasehold estate hereby created shall be taken by execution or approving a petition for relief or reorganization or arrangement or any by other petition in bankruptcy or for liquidation or to take advantage process of any bankruptcy, insolvency or other debtors' relief law of any jurisdictionlaw, or (iiivi) ordering if Tenant shall fail to operate and conduct business as required in Section 8 hereinabove, then, in any such event, Landlord, at Landlord's option and without limiting Landlord in the dissolutionexercise of any other right or remedy Landlord may have on account of any default by Tenant, winding-up or liquidation of Tenant; ormay either:
(e1) This Lease or any estate re-enter the Premises, take possession of Tenant hereunder is levied upon under any attachment or execution all buildings, improvements, additions, alterations, equipment and such attachment or execution is not vacated within thirty (30) days.fixtures thereon, and eject all parties in possession therefrom,
Appears in 1 contract
Sources: Lease Agreement (Dominion Homes Inc)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute be a default and breach of this Lease by ▇▇▇▇▇▇Tenant:
(ai) Tenant fails shall fail to pay any monthly installment of Base Rent, Rent or any additional monthly rent under Section 3.1, hereof, Additional Rent or any other amount of money payable by Tenant hereunder as and Rent Adjustment when such rent becomes the same shall be due and payable and such failure continues for more than five ten (510) days after ▇▇notice thereof from Landlord provided notice shall only be required to be given one time each calendar year and a default and breach shall thereafter occur if Tenant fails to pay any such items within ten (10) days after the same shall be due and payable;
(ii) Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of thirty (30) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or obligation to be performed by Tenant is of such nature that the same cannot reasonably be performed within such thirty-day period, such default shall be deemed to have been cured if Tenant commences such performance within said thirty-day period and thereafter diligently undertakes to complete the same, but in any event completes cure within ninety (90) days after notice from Landlord;
(iii) Intentionally omitted;
(iv) ▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, ; or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part substantially all of Tenant's property’s assets in, on or about the Premises or Tenant’s interest in this Lease are attached or levied upon under execution and ▇▇▇▇▇▇ does not discharge the same within thirty (30) days thereafter; or
(dv) Without consent Tenant causes or permits a hazardous condition to exist on the Premises and fails to cure such condition within ten (10) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or obligation to be performed by Tenant is of such nature that the same cannot reasonably be performed within such ten-day period, such default shall be deemed to have been cured if Tenant commences such performance within said ten-day period and thereafter diligently undertakes to complete the same within sixty (60) days from the original notice to ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.
Appears in 1 contract
Sources: Office Lease (MBX Biosciences, Inc.)
Default by Tenant. The occurrence of any one 8.01 If, (i) the Tenant neglects or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails to pay the rent herein reserved or any Base Rentpart thereof when due and payable, as herein provided, or any additional monthly rent under Section 3.1, hereof, if the Tenant neglects or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches observe any of the other agreement covenants, agreements or covenant of provisions contained in this Lease which, on the Tenant's part, are to be performed or observed by Tenant as and when performance or observance is due observed, and such neglect or failure or breach continues to pay rent shall continue for more than ten fifteen (1015) days after Landlord gives written notice thereof to Tenant; providedfrom Landlord, howeveror any default in the observance or performance of the other covenants, that if, by the nature of such agreement agreements or covenant, such failure or breach cannot reasonably be cured within such period of ten provisions shall continue for thirty (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (1030) days andafter written notice from Landlord without, in either case, Tenant's having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of commenced diligently to remedy such failure or breach; or
(c) Tenant (i) filesdefault, or consents (i.) if the leasehold hereby created shall be taken on execution, or by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage process of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditorslaw, or (iii) consents if any assignment shall be made of Tenant's property for the benefit of creditors, or if a receiver, trustee in bankruptcy, or similar officer shall be appointed to take charge of all or any part of the Tenants property by a court of competent jurisdiction, or if a petition is filed by the Tenant seeking an adjudication of itself as bankrupt or insolvent under any bankruptcy law or if an involuntary petition is filed against the Tenant and the appointment of a custodian, such receiver, trustee or other similar officer with similar powers of Tenant shall not be vacated or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition the proceeding in bankruptcy or for liquidation or to take advantage insolvency shall not be dismissed within sixty (60) days then, and in any of any bankruptcythe said cases, insolvency or other debtors' relief law of any jurisdictionthe Landlord lawfully may immediately, or (iii) ordering at any time thereafter, and without demand or notice enter upon the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease Leased Premises or any estate part thereof, in the name of the whole and repossess the same as of the Landlord's former estate, and expel the Tenant hereunder is levied and those claiming through or under the Tenant and remove their effects, forcibly if necessary, without being deemed liable for any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or preceding breach of covenant, and upon such re-entry and declaration this Lease shall terminate.
8.02 Tenant covenants that, in case of such termination, or in case of termination under the provisions of statute by reason of the default of the Tenant, the Tenant will pay to the Landlord as damages on each rent day a sum equal to one-twelfth of the Annual Fixed Rent for the remainder of the Term (but not assuming any attachment extension unless so elected) and, when and as due, any sum or execution sums which would have accrued and such attachment been payable as additional rent under the terms hereof had this Lease continued in force, less any amounts actually received by the Landlord as compensation for the use and occupancy or execution is not vacated within thirty (30) daysrental of the Leased Premises, after deducting reasonable costs and expenses incurred in connection therewith. Landlord shall diligently undertake to relet the Leased Premises to mitigate any damages payable by Tenant hereunder.
Appears in 1 contract
Default by Tenant. The occurrence of any one or more Any of the following events shall constitute an event of default (the "Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇Tenant hereunder:
(a) Tenant fails failure to pay to Port any Base RentRent or other sum payable hereunder when due, or and such default continues for a period of three (3) days following written notice from Port. Notwithstanding the foregoing, Port shall not be required to provide such notice more than twice during any additional monthly rent under Section 3.1twelve (12)-month period, hereof, or and any other amount of money payable such failure by Tenant hereunder after Tenant has received two (2) such notices in such twelve (12)-month period shall constitute an Event of Default by
(b) abandonment or vacation of the Premises by Tenant; or
(c) failure to use the Premises solely for the Permitted Use, as determined by Port in its sole and when such rent becomes due and payable absolute discretion and such failure continues for more than five a period of twenty-four (524) days after ▇▇▇▇▇▇▇▇ gives hours following written notice thereof to Tenantfrom Port; provided, however, that after notwithstanding the second such foregoing, failure in a calendar yearto use the Premises solely for the Permitted Use shall, only the passage at Port's sole and absolute discretion, be deemed an incurable breach of timethis Lease, but no further written notice, shall be required allowing Port to establish an Event of Default in the same calendar yearimmediately terminate this Lease without notice or demand to Tenant; or
(bd) failure by Tenant fails to perform execute and deliver to Port the estoppel certificate within the time period and in the manner required by Section 34 below, and Tenant's failure to cure the foregoing default within five (5) days following written notice from Port; or
(e) a Transfer, or breaches any other agreement or covenant attempted Transfer, of this Lease or the Premises by Tenant contrary to the provision of Section 20 above; or
(f) failure to provide evidence of insurance coverage complying with the provisions of Section 16 above, failure to maintain any insurance required to be performed or observed maintained by Tenant pursuant to this Lease, or if any such insurance shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease and when performance Tenant's failure to deliver evidence of such coverage or observance is due and failure to reinstate such failure or breach continues for more than ten coverage, all within three (103) business days after Landlord gives following written notice thereof from Port; or
(g) failure by Tenant to comply with the provisions of Section 15 above and Tenant; provided, however, that if, by 's failure to cure the nature of foregoing default within twenty-four (24) hours following written notice from Port. If such agreement or covenant, such failure or breach default cannot reasonably be cured within such period of ten twenty-four (1024) dayshour period, an Event of Default Tenant shall not exist as long as be in default of this Lease if Tenant commences with due diligence and dispatch to cure the curing of such failure or breach default within such twenty-four (24) hour period of ten and diligently and in good faith continues to cure the default, provided, however, in no event shall Tenant have more than thirty (1030) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of to cure such failure or breachdefault; or
(ch) without limiting the provisions of Sections 21(c) or 21(g) above, failure by Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer comply with similar powers of Tenant or of any substantial part of Laws and Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated failure to cure the foregoing default within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, windingforty-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.eight
Appears in 1 contract
Sources: Lease Agreement
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute be a default and breach of this Lease by ▇▇▇▇▇▇Tenant:
(ai) Tenant fails shall fail to pay any monthly installment of Base Rent, Rent or any additional monthly rent under Section 3.1, hereof, Additional Rent or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five Rent Adjustment within ten (510) days after ▇▇▇▇▇▇▇▇ gives written the same shall be due and payable;
(ii) Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease fora period of thirty (30) days after notice thereof to Tenantfrom Landlord; provided, however, that after if the second such failure in a calendar yearterm, only the passage of timecondition, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform covenant or breaches any other agreement or covenant of this Lease obligation to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach nature that the same cannot reasonably be cured performed within such thirty-day period, such default shall be deemed to have been cured if Tenant commences such performance within said thirty-day period and thereafter diligently undertakes to complete the same, but in any event completes cure within ninety (90) days after notice from Landlord;
(iii) Tenant shall vacate or abandon or fail to occupy, for a period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure Premises or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; orany substantial portion thereof;
(civ) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, ; or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part substantially all of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇’s assets in, a court on or government authority enters an order, about the Premises or Tenant’s interest in this Lease are attached or levied upon under execution [and such order is Tenant does not vacated discharge the same within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenantdays thereafter]; or
(ev) This Lease Tenant causes or any estate of Tenant hereunder is levied upon under any attachment or execution permits a hazardous condition to exist on the Premises and fails to cure such attachment or execution is not vacated within thirty (30) dayscondition immediately after notice thereof from Landlord.
Appears in 1 contract
Sources: Office Lease (Endocyte Inc)
Default by Tenant. The occurrence of any one or more All of the following events ("Event rights and remedies of Default") Landlord herein enumerated shall constitute a breach of this Lease be cumulative, and none shall exclude any other right or remedy allowed by ▇▇▇▇▇▇law. It is agreed that in the event:
(ai) That the Tenant fails shall fail, neglect or refuse to pay any Base Rentinstallment of Rent at the time, and in the amount as herein provided, or to pay any other monies agreed by it to be paid promptly when and as the same shall become due and payable under the terms hereof;
(ii) That any voluntary or involuntary petition or similar pleading, under any section or sections of any bankruptcy act, shall be filed by or against Tenant, or any additional monthly rent under Section 3.1voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare Tenant insolvent or unable to pay Tenant's debts, hereof, and the same shall not be dismissed or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five discharged within thirty (530) days after ▇▇▇▇▇▇▇▇ gives written notice thereof in writing;
(iii) That the Tenant shall fail, neglect or refuse to keep and perform any of the other covenants, conditions, stipulations or agreements herein contained and to be kept and performed by it, and in the event any such default shall continue, for a period of more than thirty (30) days after notice thereof in writing given to the Tenant, by the Landlord; provided, however, that after if the second cause for giving such failure in notice involves the making of repairs, or other matters reasonably requiring a calendar year, only longer period of time than the passage period of time, but no further written such notice, the Tenant shall be required deemed to establish an Event of Default have complied with such notice so long as it has commenced to comply with said notice within the period set forth in the same calendar year; ornotice, and is diligently prosecuting compliance with said notice, or has taken proper steps or proceedings, under the circumstances, to prevent the seizure, destruction, alteration or other interference with said Demised Premises by reason of non-compliance with the requirements of any law or any ordinance or with the regulations, rules or directions of any government authority, as the case may be;
(biv) That the Tenant fails to perform or breaches makes any other agreement or covenant assignment of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment its property for the benefit of its creditors, or (iii) consents to should the appointment Demised Premises be taken under a levy of a custodianexecution or attachment, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of in an action against the Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order levy, attachment or assignment is not vacated dismissed and discharged within thirty (30) daysdays after written notice thereof to Tenant by Landlord, (i) appointing the Tenant does hereby authorize and fully empower said Landlord or Landlord's agent to cancel or annul this Lease at once and to re-enter and take possession of said Demised Premises immediately, and remove all persons and their property therefrom, and to use such force and assistance in effecting and perfecting such removal as said Landlord may deem necessary and advisable to recover at once full and exclusive possession of all of said Demised Premises, whether in possession of said Tenant or of their persons or otherwise. At Landlord's option, Landlord may declare all installments of Rent for the remainder of the lease term, to be immediately due and payable whereupon the same shall become immediately due and payable. The Landlord may, however, at its option, at any time after a custodiandefault or violation of condition or covenant, receiverre-enter and take possession of said Premises without such re-entering working a forfeiture of the rents to be paid and the covenants, trustee agreements and conditions to be kept and performed by said Tenant for the full term of this Lease. In such event, the Landlord shall have the right, but not the obligation, to divide or subdivide the Premises in any manner the Landlord may determine and to lease or let the same or portions thereof for such periods of time and at such rentals and for such use and upon such covenants and conditions as Landlord may elect, applying the net rentals from such letting first to the payment of Landlord's expenses incurred in dispossessing the Tenant and the costs and expenses of making such improvements in the Premises as may be necessary in order to enable the Landlord to relet the same, and to the payment of any brokerage commissions or other officer necessary expenses of the Landlord in connection with similar powers such reletting. The balance, if any, shall be applied by the Landlord from time to time, but in any event not less than once each month, on account of the payments due or payable by the Tenant hereunder, with respect the right reserved to Landlord to bring such actions or proceedings for the recovery of any deficits remaining unpaid as it may deem advisable from time to time, without being obligated to await the end of the term hereof for a final determination of the Tenant's account and the commencement or maintenance of one (1) or more actions shall not bar the Landlord from bringing other or subsequent actions for further accruals pursuant to the provisions of this Paragraph. Any balance remaining, however, after full payment and liquidation of Landlord's account, as aforesaid, shall be paid to the Tenant from time to time with the right reserved to the Landlord at any time to give notice in writing to the Tenant of Landlord's election to cancel and terminate this Lease and all Tenant's obligations hereunder and upon the giving of such notice and the simultaneous payment by Landlord to Tenant or with respect of any credit balance in Tenant's favor that may at the time be owing to any substantial Tenant shall constitute a final and effective cancellation and termination of this Lease and the obligations thereunder on the part of Tenant's propertyeither party to the other. In addition to the foregoing, or (ii) constituting an order collection costs and reasonable attorneys' fees shall be paid by Tenant if delinquencies are referred for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) dayscollection.
Appears in 1 contract
Sources: Commercial Office Lease (Ultimate Software Group Inc)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of default by Tenant under this Lease by ▇▇▇▇▇▇Lease:
(a) Tenant fails shall fail to perform, observe or comply with any of the terms, provisions, agreements, covenants or conditions of this Lease or any guaranty now or hereafter executed relating to this Lease (other than the failure specified in Section 7.02(b) hereof), such failure continuing for twenty (20) days after written notice from Landlord to Tenant of such failure or if the nature of the default is such that it cannot reasonably be cured or remedied within twenty (20) days, then so long as Tenant has commenced the cure or remedy, the cure period shall be extended for such reasonable period, up to but not exceeding an additional twenty-five (25) days, as may be necessary to complete the cure or remedy; provided, however, that Landlord shall not be required to provide such notice (x) with respect to any default which is by its nature incurable, or (y) with respect to any nonmonetary default (or substantially similar nonmonetary default), be obligated to provide such written notice more than two (2) times during the Term, the third such default not requiring such notice by Landlord;
(b) Tenant shall fail to pay to Landlord any Base Rent, or any additional monthly rent under Section 3.1, hereof, Rent or any other amount of money payable by monetary charge due from Tenant hereunder as and when such rent becomes due and payable and such failure continues shall continue for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes after the curing of such failure or breach; ordue date;
(c) Tenant A Transfer (hereinafter defined) shall occur of all or a part of (i) filesthis Lease or (ii) the Leased Premises, without the prior written approval of Landlord;
(d) The interest of Tenant under this Lease shall be levied on under execution or consents by answer other legal process and the same has not been stayed or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other removed within thirty (30) days;
(e) Any petition in bankruptcy or for liquidation other insolvency proceedings shall be filed by or against Tenant, or any petition shall be filed or other action taken to declare Tenant a bankrupt or to take advantage delay, reduce or modify Tenant's debts or obligations or to reorganize or modify Tenant's capital structure or indebtedness or to appoint a trustee, receiver or liquidator of Tenant or of any bankruptcyproperty of Tenant, insolvency or any proceeding or other debtors' relief law action shall be commenced or taken by any governmental authority for the dissolution or liquidation of Tenant and in the case of any jurisdictioninvoluntary proceeding commenced against Tenant, the same has not been dismissed within sixty (ii60) makes days;
(f) Tenant shall become insolvent, or Tenant shall make an assignment for the benefit of its creditors, or (iii) consents to the appointment Tenant shall make a transfer in fraud of creditors, or a custodian, receiver, receiver or trustee or other officer with similar powers of shall be appointed for Tenant or any of its properties;
(g) Tenant shall desert, abandon or vacate the Leased Premises or any substantial part portion thereof unless Tenant shall continue to timely pay all Rent due hereunder and provide Landlord with adequate security for the payment of future Rent through the remainder of the Term; provided, however, notwithstanding continued payment and providing for security, upon any such desertion, abandonment or vacation of the Leased Premises, Tenant's property; orrights under Sections 2.04, 2.05 and 2.06 shall forthwith terminate and be of no further force or effect;
(dh) Without consent by ▇▇▇▇▇▇, Tenant shall fail to operate its business in the Leased Premises for more than fifteen (15) days for any reason other than destruction or condemnation of the Leased Premises;
(i) Tenant shall do or permit to be done anything which creates a court lien upon the Leased Premises or government authority enters an order, and such order is not vacated within the Project unless the same shall be removed or bonded around with thirty (30) days, ; or
(ij) appointing a custodian, receiver, trustee The death or other officer with similar powers with respect to Tenant or with respect to any substantial part legal incapacity of Tenant's property, if Tenant is an individual person, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcythe termination, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up dissolution or liquidation of Tenant; or, if Tenant is a corporation, partnership or other entity.
(ek) This Lease or The occurrence of a default by the tenant under the Other Lease, following any estate of Tenant hereunder is levied upon under any attachment or execution period for notice and such attachment or execution is not vacated within thirty (30) daysopportunity to cure provided therein.
Appears in 1 contract
Default by Tenant. The Landlord and Tenant hereby agree that the occurrence of any one or more of the following events ("Event of Default") shall constitute is a breach of material default by Tenant under this Lease by ▇▇▇▇▇▇:and that said default shall give Landlord the rights described in Section 13.2. Landlord or Landlord's authorized agent shall have the right to execute and deliver any notice of default, notice to pay rent or quit or any other notice Landlord gives Tenant.
(a) Tenant fails Tenant's failure to pay make any payment of Base Rent, or any additional monthly rent under Section 3.1Tenant's Share of Operating Expense increases, hereofTenant's Share of Real Property Tax increases, parking charges, charges for after hours HVAC, late charges, or any other amount of money payable payment required to be made by Tenant hereunder hereunder, as and when such rent becomes due and payable and due, where such failure continues shall continue for more than a period of five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof from Landlord to Tenant. In the event that Landlord serves Tenant with a notice to pay rent or quit pursuant to applicable unlawful detainer statutes, such notice shall also constitute the notice required by this Section 13.1(a).
(c) The failure of Tenant to comply with any of its obligations under Sections 6.1, 6.2(b), 7.2, 7.3, 8, 12, 18, 20, 22, 23, 25, 33, 34, and 55 and 59 where Tenant fails to comply with its obligations or fails to cure any earlier breach of such obligation within ten (10) days following written notice from Landlord to Tenant. In the event Landlord serves Tenant with a notice to quit or any other notice pursuant to applicable unlawful detainer statutes, said notice shall also constitute the notice required by this Section 13.1(c).
(d) The failure by Tenant to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by Tenant (other than those referenced in Sections 13.1(a), (b) and (c), above), where such failure shall continue for a period of twenty (20) days after written notice thereof from Landlord to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by if the nature of Tenant's non-performance is such agreement or covenantthat more than twenty (20) days are reasonably required for its cure, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default then Tenant shall not exist as long as be deemed to be in default if Tenant commences such cure within said twenty (20) day period and thereafter diligently pursues such cure to completion. In the event that Landlord serves Tenant with due diligence and dispatch a notice to quit pursuant to applicable unlawful detainer statutes, said notice shall also constitute the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; ornotice required by this Section 13.1(d).
(c) Tenant (i) files, The making by Tenant or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or any guarantor of Tenant's obligations hereunder of any general arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an general assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement Tenant or any other petition guarantor becoming a "debtor" as defined in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease 11 U.S.C. 101 or any estate successor statute thereto (unless, in the case of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.a
Appears in 1 contract
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:
(a) If Tenant fails to pay any Base RentMinimum Rent or other payment when due under this Lease, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure to pay continues for more than five (5) days after ▇▇▇written notice from Landlord of such failure, then Tenant shall be in default of this Lease (a "Monetary Default"). If after thirty (30) days after delivery by Landlord to Tenant of written notice of nonperformance, Tenant fails to perform any other of the terms of this Lease to be observed or performed by Tenant, or, if Tenant fails to cure any breaches of any of Tenant's representations or warranties contained herein, or if Tenant becomes bankrupt or insolvent, or files any debtor proceedings or files or has filed against it 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 trustee of all or a portion of Tenant's property, or if T▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents petitions for or enters into an arrangement or suffers this Lease to the appointment be taken under any writ of a custodianexecution or attachment, receiveror if this Lease passes to or devolves upon, trustee by law or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇otherwise, a court person or government authority enters an orderentity other than Tenant, except as specifically permitted in this Lease, then in any one or more of such events Tenant shall be in default of this Lease (each a "Non-Monetary Default") (both Monetary Default and such order is not vacated within thirty (30) days, (i) appointing Non-Monetary Default referred to herein separately and collectively based on the context as a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days"Default").
Appears in 1 contract
Sources: Lease (Ra Medical Systems, Inc.)
Default by Tenant. The occurrence of any one or more of the following events ("Event of DefaultEVENT OF DEFAULT") shall constitute a breach of this Lease by ▇▇▇▇▇▇Tenant:
(a) Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, hereofAdditional Monthly Rent, or any Additional Rent or other amount of money or charge payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five three (53) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar yearany twelve (12) month period, only the passage of timethree (3) days after the due date, but no further not written notice, shall be required to establish an Event of Default in the same calendar yeartwelve (12) month period; and provided further, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure SECTION 1161; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breachbreach within a period of sixty (60) days after Landlord's notice; and provided further, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure SECTION 1161; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.; or
(f) Tenant abandons the Premises;
(g) An Event of Default occurs under the Existing Building Lease. This SECTION 10.1(g) shall not apply if Landlord has sold the Building or the Existing Building or if Tenant has assigned this Lease or the Existing Building Lease to a third party (other than the assignees described in SECTION 9.7 above) which is unrelated to Tenant in a transaction consented to by Landlord. This SECTION 10.1(g) will apply at any time in the future during which the Building and the Existing Building are owned by the same person or entity as long as the Event of Default to which the first sentence of this paragraph applies occurs during the period when both the Building and the Existing Building are owned by the same person or entity; or
(h) Tenant fails to deliver to Landlord, within thirty (30) days after the date Landlord receives the site development application approval for the Project, the Letter of Credit required by EXHIBIT H.
Appears in 1 contract
Sources: Lease (Wj Communications Inc)
Default by Tenant. The occurrence of any one or more Each of the following events shall constitute an event of default under this Lease ("each, “Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:”):
(a) Tenant fails Tenant’s failure to pay make any Base Rentpayment required under this Lease when due, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such where this failure continues for more than a period of five (5) business days after ▇▇▇▇▇▇▇▇ gives written notice thereof from Landlord to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or;
(b) The failure of Tenant fails to perform any of the covenants, conditions, or breaches any other agreement or covenant provisions of this Lease to be performed or observed by Tenant as and when performance or observance is due and such (other than those requiring any payment to Landlord), where this failure or breach continues for a period of 30 days (or such shorter period, if any, set forth for cure in the applicable provision of this Lease) after written notice from Landlord to Tenant or, if Tenant’s obligation requires more than ten (10) 30 days after Landlord gives written notice thereof to Tenant; providedfor performance, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default Tenant shall not exist as long as be in default if Tenant commences to perform within the 30 day period and afterwards completes it with due diligence and dispatch continuity;
(c) Any of the curing following (to the extent permitted by law):
(i) The making by Tenant of such failure any general arrangements or breach assignments for the benefit of creditors;
(ii) The filing by or against Tenant of any proceeding under an insolvency or bankruptcy law, unless (in the case of an involuntary proceeding) the proceeding is dismissed within such period 60 days;
(iii) The appointment of ten (10) a trustee or receiver to take possession of substantially all of Tenant’s assets at the Leased Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within 60 days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breachthis appointment; or
(civ) Tenant (i) filesThe attachment, execution, or consents by answer or otherwise to other judicial seizure of substantially all of Tenant’s assets located at the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant Leased Premises or of any substantial part of Tenant's property; or’s interest in this Lease, where this seizure is not discharged within 60 days after the seizure.
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part Tenant’s Assignment in violation of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of TenantArticle 17; orand
(e) This Lease Tenant’s failure to execute or deliver any estate of Tenant hereunder is levied upon estoppel certificate required under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysPart III, Article 24 in a timely manner.
Appears in 1 contract
Sources: Lease (Marvel Entertainment, Inc.)
Default by Tenant. Landlord shall have the right to terminate this lease upon the following listed defaults by TENANT and shall be entitled to elect to collect periodic damages or total damages as follows:
a. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach an event of this Lease by ▇▇▇▇▇▇default:
(a1) Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes Delinquency in the due and punctual payment of any rent or additional rent payable and such failure continues under this period of five days after written notice.
(2) Delinquency by the Tenant in the performance of or compliance with any of the conditions contained in this lease other than those referred to in the foregoing subparagraph (1), for more than five a period of thirty (530) days after ▇▇▇▇▇▇▇▇ gives written notice thereof from the LANDLORD to Tenant; providedthe TENANT, howeverexcept for any such 30 day period, in which event the time permitted to the TENANT to cure such default, provided the TENANT commences promptly and proceeds diligently to cure such default, and provide further that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default time shall not exist be so extended as long as Tenant commences with due diligence and dispatch to jeopardize the curing interest of such failure the LANDLORD or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure TENANT to any civil or breach; orcriminal liabilities.
(c3) Tenant (i) filesFiling by the TENANT in any court pursuant to any statue, either of the United States or any state, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or insolvency, or for liquidation reorganization, or to take advantage for the appointment of any bankruptcy, insolvency a receiver or other debtors' relief law trustee of any jurisdiction, (ii) makes all or a portion of the TENANT'S property or an assignment by the TENANT for the benefit of its creditors.
(4) Filing against the TENANT in any court pursuant to any statue, or (iii) consents to either of the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant United States or of any substantial part state, of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or insolvency, or for liquidation reorganization or for appointment of a receiver or trustee of all or a portion of the TENANT'S property, if within ninety (90) days after the commencement of any such proceeding against the TENANT such petition shall not have been dismissed.
b. Upon the occurrence of an event of default, the LANDLORD at any time thereafter may give written notice to the TENANT specifying such event of default and stating that this lease shall expire on the date specified in such notice, and upon the date specified in such notice this lease and all rights of the TENANT hereunder shall terminate.
c. Upon the expiration of this lease pursuant to paragraph (b) of this article, the TENANT shall peacefully surrender the demised property to the LANDLORD, and the LANDLORD, upon or at any time after any such expiration, may without further notice reenter the leased property and repossess it by force, summary proceedings ejectment, or otherwise, and may dispossess the TENANT and remove the TENANT and all other persons and property from the leased property and may have, hold, and enjoy the leased property including the right to receive all rental income therefrom.
d. At any time after any such expiration, the LANDLORD may relet the demised premises or any part thereof, in the name of the LANDLORD or otherwise, for such term (which may be greater of less of the term of this lease) and on such conditions (which may include concessions or free rent) as the LANDLORD, in its uncontrolled discretion, may determine, and may collect and receive the rent therefor. The landlord shall in no way be responsible or liable for any failure to relet the leased property or any part thereof, or any failure to collect any rent due upon any such reletting.
e. No such expiration of this lease shall relive the TENANT of its liability and obligations under this lease, and such liability and obligations, shall survive any such expiration. In the event of any such expiration, whether or not the demised premises or any part the rent and additional rent required to be paid by the TENANT up to the time of such expiration, and thereafter the TENANT, until the such expiration, shall be liable to the LANDLORD for, and shall pay to the LANDLORD as and for liquidated and agreed current damages for the TENANT'S default:
(1) The equivalent of the amount of the rent and additional rent which would be payable under this lease by the TENANT if this lease were still in effect, less
(2) The net proceeds of any reletting effected pursuant to the provisions of paragraph (d) of this article, after deducting all the LANDLORD'S expenses in connection with such reletting, including without limitation, all repossession cost, brokerage commissions, legal expenses, reasonable attorneys' fees, alteration costs, and expenses of preparation for such reletting.
f. Then TENANT shall pay such current damages, herein called deficiency, to the LANDLORD monthly on the days on which the rent and additional rent would have been payable under this lease if this lease were still in effect, and the LANDLORD shall be entitled to recover from the TENANT each monthly deficiency, as such deficiency shall arise. At any time after any such expiration, whether or not the LANDLORD shall have collected any monthly deficiency, the LANDLORD shall be entitled to recover from the TENANT, and the TENANT shall pay to the LANDLORD, on demand, as and for liquidated and agreed final damages for the TENANT'S default, an amount equal to the difference between the rent and additional rent reserved hereunder for the unexpired portion of the lease term and then fair and reasonable rental value of the leased property for the same period. In the computation of such damages the difference between any installment of rent becoming due hereunder after the date of termination and the fair and reasonable rental value of the leased property for the period for which such installment was payable shall be discounted to the date of termination at the rate of four percent per annum. If the leased property or any part therof is relet by the LANDLORD for the unexpired term of this lease, or any part thereof, before presentation of proof of such liquidated damages to any court, commission, or tribunal, the amount of rent reserved upon such reletting shall be deemed prima facie to be the fair and reasonable rental value for the part or the whole of the leased property so relet during the term of the reletting. Nothing herein contained shall limit or prejudice the right of the LANDLORD to prove for and obtain as liquidated damages by reason of such termination an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amount of the difference referred to above.
g. The TENANT hereby expressly waives, so far as permitted by law, the service of any notice of intention to reenter provided for in any statue, or of the institution of legal proceedings to that end. The TENANT, for and on behalf of itself and all persons claiming through or under the TENANT, also waive any right of redemption or reentry or repossession or to take advantage restore the operation of this lease in case the TENANT shall be dispossessed by a judgment or by warrant of any bankruptcycourt or judge or in case of reentry or repossession by the LANDLORD.
h. The terms "enter", insolvency or other debtors' relief law of any jurisdiction"reenter", "entry", or (iii) ordering the dissolution"reentry", winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is as used in this lease are not vacated within thirty (30) daysrestricted to their technical legal meaning.
Appears in 1 contract
Sources: Lease (Nichols Research Corp /Al/)
Default by Tenant. The occurrence This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth, and if any one or more of the following events ("Event of Default") default shall constitute a breach of this Lease by ▇▇▇▇▇▇:
occur, to-wit: (a) Tenant fails to pay any Base Rentinstallment of rent, or any additional monthly rent under Section 3.1rent, hereoftaxes, or any other amount of money payable sums required to be paid by Tenant hereunder as hereunder, or any part thereof, shall at any time be in arrears and when such rent becomes due and payable and such failure continues unpaid for more than five fifteen (515) days after ▇▇▇▇▇▇▇▇ gives written notice thereof, or (b) there be any default on the part of Tenant in the observance or performance of any of the other covenants, agreements, or conditions of this Lease on the part of Tenant to be kept and performed, and said default shall continue for a period of fifteen (15) days after written notice thereof from Landlord to Tenant; provided, however, that after the second Tenant (unless such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach default cannot reasonably be cured within such period of ten fifteen (1015) days, an Event of Default days and Tenant shall not exist as long as Tenant commences with due diligence have commenced to cure said default within said fifteen (15) days and dispatch continue diligently to pursue the curing of such failure the same), or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, shall file a petition for relief or reorganization or arrangement or any other petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for liquidation itself under any present or to take advantage of any bankruptcyfuture federal, insolvency state or other debtors' relief statute, law of any jurisdictionor regulation, (ii) makes or make an assignment for the benefit of its creditors, or (iiid) consents to the appointment of a custodianany trustee, receiver, trustee receiver or other officer with similar powers liquidator of Tenant or of all or any substantial part of Tenant's property; or
(d) Without consent its properties or of the Premises shall be appointed in any action, suit or proceeding by ▇▇▇▇▇▇, a court or government authority enters an order, against Tenant and such order is proceeding or action shall not vacated have been dismissed within thirty (30) daysdays after such appointment, or (ie) appointing a custodianthe leasehold estate hereby created shall be taken on execution or by other process of law, receiveror (f) Tenant shall vacate or abandon the Premises before the end of the Term, trustee then and in any of said cases, Landlord at its option may terminate this Lease and re-enter upon the Premises and take possession thereof with full right to sue ▇▇▇ and collect all sums or other officer with similar powers amounts with respect to which Tenant may then be in default and accrued up to the time of such entry, including damages to Landlord by reason of any breach or with respect to any substantial default on the part of Tenant's property, or (ii) constituting an order Landlord may, if it elects to do so, bring suit for relief the collection of such rents and damages without entering into possession of the Premises or approving a petition for relief voiding this Lease. In addition to, but not in limitation of, any of the remedies set forth in this Lease or reorganization given to Landlord by law or arrangement in equity, Landlord shall also have the right and option, in the event of any default by Tenant under this Lease and the continuance of such default after the period of notice above provided, to discontinue services to Tenant and/or to retake possession of the Premises from Tenant without process of law, by summary proceedings or otherwise, and it is agreed that the commencement and prosecution of any action by Landlord in forcible entry and detainer, ejectment or otherwise, or any execution of any judgment or decree obtained in any action to recover possession of the Premises, shall not be construed as an election to terminate this Lease unless Landlord expressly exercises its option hereinabove provided to declare the term hereof ended, whether or not such entry or re-entry be had to taken under summary proceedings or otherwise, and shall not be deemed to have absolved or discharged Tenant from any of its obligations and liabilities for the remainder of the term of this Lease, and Tenant shall notwithstanding such entry or re-entry, continue to be liable for the payment of the rents and the performance of the other petition covenants and conditions hereof and shall pay to Landlord all monthly deficits after any such re-entry in bankruptcy monthly installments as the amounts of such deficits from time to time are ascertained, and if in the event of any such ouster Landlord rents or leases the Premises to some other person, firm or corporation (whether for liquidation a term greater, less than or equal to the unexpired portion of the term created hereunder) for an ag8regate rent during the portion of such new lease co-extensive with the term created hereunder which is less than the rent and other charges which Tenant would pay hereunder for such period, Landlord may immediately upon the making of such new lease or the creation of such new tenancy sue ▇▇▇ and recover the differences between the aggregate rental provided for in said new lease for the portion of the term co-extensive with the term created hereunder and the rent which Tenant would pay hereunder for such period, together with any expense to which Landlord may be put for brokerage commission, placing the Premises in tenantable condition, reasonable attorneys fees, or otherwise. If such new lease or tenancy is made for a shorter term than the balance of the term of this Lease, any such action brought by Landlord to collect the deficit for that period shall not bar Landlord from thereafter suing for any loss accruing during the balance of the unexpired term of this Lease. If Tenant at any time shall fail to pay any taxes, assessments, or liens, or to take advantage make any payment or perform any act required by this Lease to be made or performed by it, Landlord without waiving or releasing Tenant from any obligation or default under this Lease, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the account and at the expense of Tenant. All sums so paid by Landlord and all costs and expenses so incurred shall accrue interest at the annual rate of six (6%) percent from the date of payment or incurring thereof by Landlord and, together with such interest, shall constitute additional rent payable by Tenant under this Lease and shall be paid by Tenant to Landlord upon demand. All other sums payable by Tenant to Landlord under this Lease, including rent and late charges thereon, if not paid within any applicable grace period when due, shall accrue interest at the rate of six (6%) percent per annum from their due date until paid, said interest to be additional rent under this Lease and paid to Landlord by Tenant upon demand. All rights and remedies of Landlord herein enumerated shall be cumulative, an none shall exclude any other remedies allowed at law or in equity. If Tenant defaults in the performance of any bankruptcy, insolvency or other debtors' relief law of the covenants of this Lease and by reason thereof Landlord employs the services of any jurisdictionattorney to enforce performance by Tenant, to evict Tenant, to collect moneys due by Tenant, or (iii) ordering to perform any service based upon said default, then the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution shall pay a reasonable attorney's fee and such attachment or execution is not vacated within thirty (30) daysall reasonable expenses and costs incurred by Landlord pertaining thereto.
Appears in 1 contract
Default by Tenant. The occurrence of any one or more All of the following events ("Event rights and remedies of Default") Landlord herein enumerated shall constitute a breach of this Lease be cumulative, and none shall exclude any other right or remedy allowed by ▇▇▇▇▇▇law. It is agreed that in the event:
(ai) That the Tenant fails shall fail, neglect or refuse to pay any Base Rentinstallment of Fixed Minimum Rent or Additional Rent at the time, and in the amount as herein provided, or to pay any other monies agreed by it to be paid promptly when and as the same shall become due and payable under the terms hereof;
(ii) That any voluntary or involuntary petition or similar pleading, under any section or sections of any bankruptcy act, shall be filed by or against Tenant, or any additional monthly rent under Section 3.1voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare Tenant insolvent or unable to pay Tenant's debts, hereof, and the same shall not be dismissed or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five discharged within thirty (530) days after ▇▇▇▇▇▇▇▇ gives written notice thereof in writing;
(iii) That the Tenant shall fail, neglect or refuse to keep and perform any of the other covenants, conditions, stipulations or agreements herein contained and to be kept and performed by it, and in the event any such default shall continue, for a period of more than thirty (30) days after notice thereof in writing given to the Tenant, by the Landlord; provided, however, that after if the second cause for giving such failure in notice involves the making of repairs, or other matters reasonably requiring a calendar year, only longer period of time than the passage period of time, but no further written such notice, the Tenant shall be required deemed to establish an Event of Default have complied with such notice so long as it has commenced to comply with said notice within the period set forth in the same calendar year; ornotice, and is diligently prosecuting compliance with said notice, or has taken proper steps or proceedings, under the circumstances, to prevent the seizure, destruction, alteration or other interference with said Premises by reason of noncompliance with the requirements of any law or any ordinance or with the regulations, rules or directions of any government authority, as the case may be;
(biv) That the Tenant fails to perform or breaches makes any other agreement or covenant assignment of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment its property for the benefit of its creditors, or (iii) consents to should the appointment Premises be taken under a levy of a custodianexecution or attachment, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of in an action against the Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order levy, attachment or assignment is not vacated dismissed and discharged within thirty (30) daysdays after written notice thereof to Tenant by Landlord, (i) appointing the Tenant does hereby authorize and fully empower said Landlord or Landlord's agent to cancel or annul this Lease at once and to re-enter and take possession of said Premises immediately, and remove all persons and their property therefrom, and to use such force and assistance in effecting and perfecting such removal as said Landlord may deem necessary and advisable to recover at once full and exclusive possession of all of said Premises, whether in possession of said Tenant or of their persons or otherwise. At Landlord's option, Landlord may declare all installments of Minimum Rent and Additional Rent as adjusted at the time of default for the remainder of the Lease term, to be immediately due and payable whereupon the same shall become immediately due and payable. The Landlord may, however, at its option, at any time after such default or violation of condition or covenant, reenter and take possession of said Premises without such re-entering working a custodianforfeiture of the rents to be paid and the covenants, receiveragreements and conditions to be kept and performed by said Tenant for the full term of this Lease. In such event, trustee the Landlord shall have the right, but not the obligation, to divide or subdivide the Premises in any manner the Landlord may determine and to lease or let the same or portions thereof for such periods of time and at such rentals and for such use and upon such covenants and conditions as Landlord may elect, applying the net rentals from such letting first to the payment of Landlord's expenses incurred in dispossessing the Tenant and the costs and expenses of making such improvements in the Premises as may be necessary in order to enable the Landlord to relet the same, and to the payment of any brokerage commissions or other officer necessary expenses of the Landlord in connection with similar powers such reletting. The balance, if any, shall be applied by the Landlord from time to time, but in any event not less than once each month, on account of the payments due or payable by the Tenant hereunder, with respect the right reserved to Landlord to bring such actions or proceedings for the recovery of any deficits remaining unpaid as it may deem advisable from time to time, without being obligated to await the end of the term hereof for a final determination of the Tenant's account and the commencement or maintenance of one (1) or more actions shall not bar the Landlord from bringing other or subsequent actions for further accruals pursuant to the provisions of this Paragraph. Any balance remaining, however, after full payment and liquidation of Landlord's account, as aforesaid, shall be paid to the Tenant from time to time with the right reserved to the Landlord at any time to give notice in writing to the Tenant of Landlord's election to cancel and terminate this Lease and all Tenant's obligations hereunder and upon the giving of such notice and the simultaneous payment by Landlord to Tenant or with respect of any credit balance in Tenant's favor that may at the time be owing to any substantial Tenant shall constitute a final and effective cancellation and termination of this Lease and the obligations thereunder on the part of Tenant's propertyeither party to the other. In addition to the foregoing, or (ii) constituting an order collection costs and reasonable attorneys' fees shall be paid by Tenant if delinquencies are referred for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) dayscollection.
Appears in 1 contract
Sources: Commercial Office Lease (Ultimate Software Group Inc)
Default by Tenant. (a) The occurrence of any one or more of the following events shall constitute an event of default ("Event of Default") shall constitute a breach of by Tenant under this Lease by ▇▇▇▇▇▇Lease:
(ai) Tenant fails to pay when due any Base Rent, Rent or any additional monthly rent under Section 3.1, hereof, or any other amount of money amounts payable by Tenant hereunder as and when such rent becomes due and payable and such failure to pay continues and remains unremedied for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days andafter written notice thereof given by Landlord to Tenant; provided, having so commencedthat in no event shall Landlord be required to give more than two (2) such notices during any calendar year and after the second of such notices is given, thereafter prosecutes an Event of Default shall occur upon any subsequent failure by Tenant to pay when due any Rent or other amount required to be paid by Tenant hereunder; (ii) the failure by Tenant to comply with diligence or perform any of the terms, provisions, covenants, or conditions which Tenant is required to observe and dispatch to perform hereunder other than those covered by the remaining subsections of this Section 8.1(a), and completes the curing of such failure or breachaction continues for a period of thirty (30) days after notice thereof; provided, however, if the nature of the default is such that it cannot be cured with the exercise of Tenant's best efforts within the thirty (30) day period set forth above, and if Tenant undertakes such curative action promptly following the occurrence thereof and diligently and continuously proceeds with such curative action using Tenant's best efforts, Tenant shall have such additional time as is reasonably necessary to cure such default; (iii)the failure by Tenant to return the estoppel certificate required by Section 10.3 below within the time period provided in such Section 10.3 and for an additional period of fifteen (15) days after written notice thereof is given by Landlord to Tenant; (iv) if Tenant is a corporation, if Tenant ceases to exist as a corporation in good standing in the state of its incorporation; or
(c) , if Tenant, is a partnership or other entity, if Tenant (i) files, or consents by answer is dissolved or otherwise to liquidated; (v) the filing against it of, a petition for relief or reorganization or arrangement or of any other voluntary petition in bankruptcy by Tenant, or the filing of an involuntary petition by Tenant's creditors, which involuntary petition remains undischarged or unstayed for liquidation a period of sixty (60) days. In the event that under applicable law the trustee in bankruptcy or Tenant has the right to take advantage affirm this Lease and continue to perform the obligations of any bankruptcyTenant hereunder, insolvency such trustee or other debtors' relief law of any Tenant shall, in such time period as may be permitted by the bankruptcy court having jurisdiction, cure all defaults of Tenant hereunder outstanding as of the date of the affirmance of this Lease and prove to Landlord such adequate assurances as may be necessary to ensure Landlord of the continued performance of Tenant's obligations under this Lease; (iivi) makes an a general assignment by Tenant for the benefit of one or more of its creditors, or (iii) consents the admission by Tenant in writing of its inability to pay its debts as they become due, the appointment filing by Tenant of a custodianpetition seeking any reorganization, receiverarrangement, trustee composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, the filing by Tenant of any answer admitting or failing timely to contest a material allegation of a petition filed against Tenant in any such proceeding or, if within sixty (60) days after the commencement of any proceeding against Tenant seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall 134 not have been dismissed; (vii)the attachment, execution, or other officer with similar powers judicial seizure of Tenant all or of any substantial part substantially all of Tenant's propertyassets or the Premises, and such attachment or other seizure remains undismissed or undischarged for a period of sixty (60) business days after the levy thereof; orand (viii) the employment of a receiver to take possession of substantially all of Tenant's assets or the Premises, if such receivership remains undissolved for a period of sixty (60) business days after creation thereof.
(b) Upon the occurrence of an Event of Default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any notice (except for such notice expressly required by Section 8.1(a)) or demand for possession whatsoever (and without limiting the generality of the foregoing, Tenant hereby specifically waives notice and demand for payment of Rent or other obligations due and waives any and all other notices or demand requirements imposed by applicable law): (i) terminate this Lease, in which event Tenant shall immediately surrender the Premises to Landlord; (ii) terminate Tenant's right to occupy the Premises and re-enter and take possession of the Premises (without terminating this Lease); (iii)enter upon the Premises and do whatever Tenant is obligated to do under the terms of this Lease including without limitation, the right to remove and store any or all of Tenant's property located therein; and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages resulting to Tenant or its property from such action; and (iv) exercise all other remedies available to Landlord at law or in equity, including, without limitation, injunctive relief of all varieties.
(c) In the event Landlord elects to re-enter and take possession of the Premises after an Event of Default, Tenant hereby waives notice of such re-entry and repossession and of Landlord's intent to re-enter and retake possession. Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in or future Rent, expel or remove Tenant and any other person who may be occupying said Premises or any part thereof. In addition, the provisions of Section 8.3 hereof shall apply with respect to the period from and after the giving of notice of such repossession by Landlord. All Landlord's remedies shall be cumulative and not exclusive. Forbearance by Landlord to enforce one or more of the remedies herein provided upon an Event of Default shall not be deemed or construed to constitute a waiver of such default. Landlord's right to enter the Premises may be accomplished by Landlord without service or notice or resort to legal process and without being guilty of any trespass or becoming liable for any loss or damage and without any liability therefore.
(d) Without consent If Landlord elects to terminate this Lease or terminate Tenant's right of possession to the Premises without terminating this Lease, there shall immediately become due and payable (but only at Landlord's option, in the case of Landlord's termination of Tenant's right of possession) the amount by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, which: (i) appointing the present value determined using a custodiandiscount rate of ten percent (10%) per annum of the total Rent and other benefits which would have accrued to Landlord under this Lease for the remainder of the Term if the terms and provisions of this Lease had been fully complied with by Tenant, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or exceeds (ii) constituting an order the total fair market rental value determined using a discount rate of ten percent (10%) per annum of the Premises for relief the balance of the Term (it being the agreement of both parties hereto that Landlord shall receive the benefit of its bargain). In the event that Landlord elects to terminate Tenant's right of possession to the Premises without terminating this Lease, and thereafter Landlord recovers from Tenant all sums payable under this Section 8.1(d), this Lease shall be deemed terminated as of the date of such recovery. For purposes of this Section 8.1(d), the fair market rental value of the Premises shall be the prevailing Market Rate for Comparable Buildings for a lease term equal to the remaining Term (without regard to any renewal options). In addition to the amounts otherwise recoverable by Landlord hereunder, there shall be 135
(i) the reasonable cost of restoring the Premises to Building standard condition, normal wear and tear and damage due to casualty or approving a petition condemnation excepted; (ii) all accrued, unpaid sums, plus interest at the Applicable Rate for relief or reorganization or arrangement or past due sums up to the date of termination; (iii)Landlord's reasonable cost of recovering possession of the Premises; (iv) Rent accruing subsequent to the date of termination pursuant to the holdover provisions of Section 8.3, if any; and (v) any other petition in bankruptcy sum of money or for liquidation or damages owed by Tenant to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysLandlord pursuant to this Lease.
Appears in 1 contract
Default by Tenant. The occurrence of any of the following events and the expiration of any grace periods hereafter described shall constitute an "Event of Default" under this Lease on the part of Tenant:
(a) Tenant shall fail to pay any sum to be paid by Tenant under this Lease, and such failure shall continue for five (5) days after the date such payment is due;
(b) Tenant shall assign its interest in this Lease or sublet any portion of the Leased Premises except as permitted in this Lease or Tenant shall otherwise breach the provisions of Section 5.4 of this Lease;
(c) a breach shall be made in the performance of any of the other covenants or conditions which Tenant is required to observe and to perform (other than those referred to in subsections (a) and (b) above), and such breach shall continue for fifteen (15) days after notice from Landlord of such breach (unless with respect to any default which cannot be cured within fifteen (15) days due to causes beyond Tenant's reasonable control, Tenant, in good faith, after receiving such notice, shall have commenced and thereafter shall continue diligently to perform all action necessary to cure such default);
(d) if Tenant or any guarantor of this Lease is a corporation, Tenant or any such guarantor shall cease to exist as a corporation in good standing in the state of its incorporation, or, if Tenant or any guarantor of this Lease is a partnership or other entity, Tenant or any such guarantor shall be dissolved or otherwise liquidated;
(e) if the interest of Tenant under this Lease shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such interest pursuant to such order or decree, or (bb) thirty (30) days after entry of the order;
(f) subject to any delay caused by Landlord, Tenant shall fail or refuse to move into or take possession of the Leased Premises within fifteen (15) days after the Rent Commencement Date; or
(g) if a breach occurs under, or any guarantor of this Lease neglects or fails to perform or observe, any covenant, term, provision, or condition contained in any such guaranty of this Lease. If an Event of Default on the part of Tenant shall have occurred under this Lease, then or at any time thereafter while such Event of Default continues, Landlord, at Landlord's option, may have any one or more of the following events described remedies in addition to all other rights and remedies provided at law or in equity:
("i) Landlord, with or without terminating this Lease, may immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant's part to keep, observe, perform, satisfy or abide by any term, condition, covenant, agreement or obligation of this Lease and Tenant shall fully reimburse and compensate Landlord on demand for the costs incurred by Landlord in doing so; or
(ii) Landlord may terminate this Lease and forthwith repossess the Leased Premises and remove all persons or property therefrom, and be entitled to recover forthwith as damages a sum of money equal to the total of (A) the cost of recovering the Leased Premises (including, without limitation, attorneys' fees and costs of suit), (B) the cost as reasonably estimated by Landlord of any alterations of, or repairs to, the Leased Premises which are necessary or proper to prepare the same for reletting, (C) the unpaid Rent owed at the time of termination, plus interest thereon from due date at the Interest Rate, (D) the present value of the balance of the Rent for the remainder of the Term less the present value of the fair market rental value (and in computing the fair market rental value the factors taken into account shall include without limitation the market rental concessions and the time necessary to relet the Leased Premises) of the Leased Premises for said period (in each case using a discount rate of eight percent (8%) per annum), and (E) any other sum of money and damages owed by Tenant to Landlord; or
(iii) Landlord may terminate Tenant's right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry or detainer suit or otherwise without demand or notice of any kind to Tenant and without terminating this Lease, and remove all persons or property therefrom, using such force as may be necessary (Tenant hereby waiving any claim by reason of such reentry, repossession or removal or by issuance of any distress warrant or writ of sequestration), in which event Landlord may (but shall be under no obligation to do so unless required by law), relet the Leased Premises or any part thereof for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord (however, to the extent Landlord is so required by law to relet the Leased Premises, Landlord shall be under no obligation to relet the Leased Premises or any portion thereof in preference to any other space in the Project or on terms unsatisfactory to Landlord). For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises, or provide leasing inducements or brokerage commissions that may be necessary or convenient, and (A) if Landlord shall fail or refuse to relet the Leased Premises, or (B) if relet and a sufficient sum shall not be realized from such reletting (after paying the unpaid amounts due hereunder earned but unpaid at the time of reletting plus interest thereon at the Interest Rate, the cost of recovering possession [including, without limitation, attorneys' fees and costs of suit], all of the costs and expenses of such decorations, repairs, changes, alterations and additions and all other expenses of such reletting [including, without limitation, leasing inducements and brokerage commission] and of the collection of the rent accruing therefrom) to satisfy the Rent provided for in this Lease to be paid, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods or, if the Leased Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time as the same accrues or becomes due. Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 6.8 from time to time on one or more occasions without Landlord being obligated to wait until expiration of the Term, and no delivery or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of this Lease, Tenant hereby waives all claims for damages which may be caused by such re-entry or termination by Landlord. No such re-entry or termination shall be considered or construed to be a forcible entry; or
(iv) Landlord is entitled and is hereby authorized, without any further notice to Tenant whatsoever, to enter upon the Leased Premises by use of a master key, a duplicate key, picking the locks, or other peaceable means, and to change, alter, and/or modify the door locks on all entry doors of the Leased Premises, thereby excluding Tenant, and its officers, principals, agents, employees, visitors and representatives therefrom. In the event that Landlord has either terminated Tenant's right of possession to the Leased Premises pursuant to the foregoing provisions of this Lease, or has terminated this Lease by reason of the Event of Default") , Landlord shall constitute not thereafter be obligated to provide Tenant with a breach of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails key to pay the Leased Premises at any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenanttime; provided, however, that after in any such instance, during Landlord's normal business hours and at the second convenience of Landlord, and upon the written request of Tenant accompanied by such failure in a calendar yearwritten waivers and releases as Landlord may require, only Landlord will escort Tenant or its authorized personnel to the passage Leased Premises to retrieve any personal belongings or other property of time, but no further written notice, shall be required Tenant not subject to establish an Event of Default in Landlord's liens available under applicable laws. If Landlord elects to exclude Tenant from the same calendar year; or
(b) Tenant fails Leased Premises without permanently repossessing the Leased Premises or terminating this Lease pursuant to perform or breaches any other agreement or covenant the foregoing provisions of this Lease Lease, then Landlord (at any time prior to permanent repossession or termination) shall not be performed or observed by obligated to provide Tenant a key to re-enter the Leased Premises until such time as all delinquent Rent has been paid in full and when performance or observance is due all other Events of Default, if any, have been completely cured to Landlord's satisfaction, and Landlord has been given assurance reasonably satisfactory to Landlord evidencing Tenant's ability to satisfy its remaining obligations under this Lease. During any such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such temporary period of ten (10) daysexclusion, an Event of Default shall not exist as long as Landlord will, during Landlord's regular business hours and at Landlord's convenience, upon written request by Tenant, escort Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise its authorized personnel to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or Leased Premises to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers retrieve personal belongings of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an orderits employees, and such order other property of Tenant as is not vacated within thirty subject to Landlord's liens available under applicable laws. The provisions hereof shall override and control any conflicting provisions of Section 93.002 of the Texas Property Code (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysas amended).
Appears in 1 contract
Default by Tenant. The occurrence of any one or more 17.1 Each of the following events ("Event of Default") shall constitute be deemed a default by Tenant and breach of this Lease by ▇▇▇▇▇▇lease:
(a1) Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) filesfiling of a petition by the Tenant for adjudication as a bankrupt, or consents by answer or otherwise to the filing against it offor reorganization, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation an arrangement under any federal or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, state statute; (ii) makes dissolution or liquidation of the Tenant; (iii) appointment of a permanent receiver or a permanent. trustee of all or substantially all the Property of the Tenant; (iv) taking possession of the property of the Tenant by a governmental officer or agency pursuant to statutory authority for dissolution, rehabilitation, reorganization or liquidation of the Tenant; (v) making by the Tenant of an assignment for the benefit of its creditors, ; or (iiivi) consents abandonment, desertion or vacation of the Leased Premises by Tenant. If any event mentioned in this subdivision (1) shall occur, Landlord may thereupon or at any time thereafter elect to cancel this lease by ten (10) days' notice to the appointment Tenant, and this lease shall terminate on the day in such notice specified with the same force and effect as if that date were the date herein fixed for the expiration of the term of the lease.
(i) Default in the payment of the Base Rent or additional rent herein reserved or any part thereof for a custodian, receiver, trustee or other officer with similar powers period of Tenant or seven (7) days after the same is due and payable as in this lease required.
(ii) A default in the performance of any substantial other covenant or condition of this lease on the part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, the Tenant to be performed for a court or government authority enters an order, and such order is not vacated within period of thirty (30) daysdays after notice. For purposes of this subdivision (2)(ii) hereof, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial no default on the part of Tenant's propertyTenant in performance of work required to be performed or acts to be done or conditions to be modified shall be deemed to exist if steps shall have been commenced by Tenant diligently after notice to rectify the same and shall be prosecuted to completion with reasonable diligence, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or subject, however, to take advantage unavoidable delays.
17.2 In case of any bankruptcysuch default under Article 17.1(2) and at any time thereafter following the expiration of the respective grace periods above mentioned, insolvency or other debtors' relief law Landlord may serve a notice upon the Tenant electing to terminate this lease upon a specified date not less than seven (7) days after the date of any jurisdictionserving such notice and this lease shall then expire on the date so specified as if that date has been originally fixed as the expiration date of the term herein granted; however, or (iiia default under Article 17.1(2) ordering hereof shall be deemed waived if such default is made good before the dissolutiondate specified for termination in the notice of termination served on Tenant. In addition, winding-up or liquidation Landlord shall have the right to terminate this Lease in the event that Tenant is consistently late in the punctual payment of Tenant; or
(e) This Base Rent and/or Additional Rent required to be paid under this Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.as shall be evidenced by late
Appears in 1 contract
Sources: Lease Agreement (Loehmanns Inc)
Default by Tenant. The occurrence 19.1. Tenant expressly agrees as follows:
19.1.1. In the event of any failure of Tenant to pay any installment of Minimum Rent or additional rent or any other payment required to be made by Tenant within ten (10) days after it is due hereunder, or if this Lease or any portion of Tenant's interest hereunder be assigned or the Premises or any portion thereof be sublet, either voluntarily or by operation of law, except as herein provided, or if Tenant defaults in performing any of the other terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than thirty (30) days after notice of such other default shall have been given to Tenant [or if the default is of such nature as cannot be cured within such thirty (30) day period, such additional times (not to exceed ninety (90) days) as shall be reasonably required so long as Tenant commences to cure such default within said thirty (30) day period and diligently and in good faith pursues the same to completion], or if Tenant's interest in this Lease shall be taken under any writ of execution, then, and in any one or more of the following such events (herein sometimes referred to as an "Event of Default") ), Landlord shall constitute have the immediate right to reenter the Premises, either by summary proceedings, by force or otherwise, and to dispossess Tenant and all other occupants therefrom and remove and dispose of all property therein or, at Landlord's election, to store such property in a breach public warehouse or elsewhere at the cost of, and for the account of, Tenant, all without service of any notice of intention to reenter and with or without resort to legal process and without Landlord 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, Landlord 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 Tenant notice of cancellation and upon mailing of said notice, this Lease and the Term shall end and expire as fully and completely as if the date of said notice were the date herein definitely fixed for the end and expiration of this Lease by ▇▇▇▇▇▇:
(a) and the Term and thereupon, unless Landlord shall have theretofore elected to reenter the Premises, Landlord shall have the immediate right of reentry, in the manner aforesaid, and Tenant fails and all other occupants shall quit and surrender the Premises to pay any Base RentLandlord, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by but Tenant hereunder shall remain liable as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenanthereinafter provided; provided, however, that if Tenant shall default (i) in the timely payment of any Minimum Rent or any item of additional rent payable hereunder 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 twelve (12) months, or (ii) in the performance of any other covenants of this Lease more than six (6) times, in the aggregate, in any period of twelve (12) months, then, notwithstanding that such defaults shall have been cured within the period after notice as above provided, any further similar default shall be deemed to be deliberate and Landlord thereafter may serve said notice of cancellation without affording to Tenant an opportunity to cure such further default.
19.1.2. If by reason of the occurrence of any such Event of Default, the Term shall end before the date therefore originally fixed herein, or Landlord shall reenter the Premises, or Tenant shall be ejected, dispossessed, or removed therefrom by summary proceedings or in any other manner, Landlord at any time thereafter may relet the Premises, or any part or parts thereof, either in the name of Landlord or as agent for Tenant, for a term or terms which, at Landlord's option, may be less than or exceed the period of the remainder of the Term or which otherwise would have constituted the balance of the Term and grant concessions or free rent. Landlord shall receive the rents from such reletting and shall apply the same, first, to the payment of any indebtedness other than Minimum Rent or any item of additional rent due hereunder from Tenant to Landlord; second, to the payment of such third party expenses as Landlord may have incurred in connection with reentering, ejecting, removing, dispossessing, reletting, altering, repairing, redecorating, subdividing, or otherwise preparing the Premises for reletting, including brokerage and attorneys' fees; and the residue, if any, Landlord shall apply to the fulfillment of the terms, conditions and covenants of Tenant hereunder and Tenant hereby waives all claims to the surplus, if any. Tenant shall be liable for and shall pay Landlord any deficiency between the Minimum Rent and all items of additional rent reserved herein and the net avails as aforesaid, of reletting, if any, for each month of the period which otherwise would have constituted the balance of the Term. Tenant shall pay such deficiency on an accelerated basis as provided under Section 19.1.4 below (including the discount provided therein) or, at Landlord's sole option, in monthly installments on the rent days specified in this Lease, and any suit or proceeding brought to collect the deficiency for any month, either during the Term or after any termination thereof, shall not prejudice or preclude in any way the rights of Landlord to collect the deficiency for any subsequent month by a similar suit or proceeding. Landlord shall in no event be liable in any way whatsoever for the failure to relet the Premises or, in the event of such reletting, for failure to collect the rents reserved thereunder. Landlord is hereby authorized and empowered to make such repairs, alterations, decorations, subdivisions or other preparations for the reletting of the Premises as Landlord shall deem fit, advisable and necessary, without in any way releasing Tenant from any liability hereunder, as aforesaid.
19.1.3. No such reentry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless notice of such intention be given to Tenant or unless the termination thereof shall result as a matter of law or be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach.
19.1.4. In the event this Lease is terminated pursuant to the provisions of 19.1, or terminates pursuant to the provisions of Section 19.2 hereof, Landlord may recover from Tenant all damages it may sustain by reason of Tenant's default, including the third party cost of recovering the Premises and attorneys' fees, and, upon so electing and in lieu of the damages that may be recoverable under subsection (b) above, Landlord shall be entitled to recover from Tenant, as and for Landlord's damages, an amount equal to the difference between the Minimum Rent and all items of additional rents reserved hereunder for the period which otherwise would have constituted the balance of Term and the then present rental value of the Premises for such period, both discounted in accordance with accepted financial practice to the then present worth, at the average rate established and announced for United States Treasury Bills, with a maturity of thirteen (13) weeks at the four (4) weekly auctions held immediately prior to the date of such termination [the four (4) week average ▇▇▇▇ rate], all of which shall immediately be due and payable by Tenant to Landlord. In determining the rental value of the Premises, the rental realized by any reletting, if such reletting be accomplished by Landlord within a reasonable time after the second such failure in a calendar year, only the passage termination of time, but no further written noticethis Lease, shall be required deemed prima facie to establish be the rental value, but if Landlord shall not undertake to relet or having undertaken to relet, has not accomplished reletting, then it will be conclusively presumed that the Minimum Rent and all items of additional rent reserved under this Lease represent the rental value of the Premises for the purposes hereof (in which event Landlord may recover from Tenant, the full total of all Minimum Rent and all items of additional rent due hereunder, discounted to present value as hereinbefore provided). Landlord shall be obliged, however, to account to Tenant for the Minimum Rent and additional rents received from persons using or occupying the Premises during the period representing that which would have constituted the balance of the Term, but only at the end of said period, and only if Tenant shall have paid to Landlord its damages as provided herein, and only to the extent of sums recovered from Tenant as Landlord's damages, Tenant waiving any claim to any surplus. Nothing herein contained, however, shall limit or prejudice the right of Landlord to prove and obtain as damages by reason of such termination, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amounts referred to in Section 19.1.2 or Section 19.1.4.
19.1.5. In the event Landlord commences any action or proceeding under this Lease, including, but not limited to, actions for recovery of Minimum Rent and items of additional rent and actions for recovery of possession, Tenant shall not interpose any counterclaim of any nature or description in any such action or proceeding (other than a compulsory counterclaim under Ohio Rule of Civil Procedure 13 or any comparable rule of civil procedure). The foregoing, however, shall not be construed as a waiver of Tenant's right to assert such claim in a separate action or proceeding instituted by Tenant.
19.1.6. Tenant hereby expressly waives any and all rights of redemption granted by or under any present or future laws, in the event Tenant shall be evicted or dispossessed from the Premises for any cause, or Landlord reenters the Premises following the occurrence of any Event of Default in hereunder, or this Lease is terminated before the same calendar year; orexpiration date thereof originally fixed herein.
(b) Tenant fails to perform 19.1.7. No waiver of any covenant or breaches condition or of the breach of any other agreement covenant or covenant condition of this Lease shall be taken to constitute a waiver of any subsequent breach of such covenant or condition nor to justify or authorize the nonobservance on any other occasion of the same or of any other covenant or condition hereof, nor shall the acceptance of Minimum Rent or any item of additional rent by Landlord at any time when Tenant is in default under any covenant or condition hereof, be performed construed as a waiver of such default or observed of Landlord's right to terminate this Lease on account of such default, nor shall any waiver or indulgence granted by Landlord to Tenant be taken as an estoppel against Landlord, it being expressly understood that if at any time Tenant shall be in default in any of its covenants or conditions hereunder, an acceptance by Landlord of Minimum Rent or any item of additional rent during the continuance of such default or the failure on the part of Landlord promptly to avail itself of such other rights or remedies as Landlord may have, shall not be construed as a waiver of such default, but Landlord may at any time thereafter, if such default continues, terminate this Lease on account of such default in the manner herein provided.
19.1.8. In the event of any breach or threatened breach by Tenant of any of the terms and provisions of this Lease, Landlord shall have the right to seek injunctive relief as if no other remedies were provided herein for such breach.
19.1.9. The rights and when performance remedies herein reserved by, or observance is due granted to, Landlord are distinct, separate and such failure cumulative, and the exercise of any one of them shall not be deemed to preclude, waive or breach continues for more than ten (10) days after Landlord gives written notice thereof prejudice Landlord's right to Tenant; provided, however, that if, by the nature of such agreement exercise any or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, all others.
19.1.10. If an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise occur hereunder prior to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage date fixed as the commencement of any bankruptcyrenewal or extension of this Lease, insolvency whether by a renewal option herein contained or other debtors' relief law of any jurisdictionby a separate agreement, (ii) makes an assignment for the benefit of its creditorsLandlord may, or (iii) consents prior to the appointment commence of a custodianthe Renewal Term, receivercancel such option or agreement for renewal or extension of this Lease, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
upon two (d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (302) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect ' notice to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.
Appears in 1 contract
Default by Tenant. (a) The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach term of this Lease by ▇▇▇▇▇▇:
is subject to the limitation that (ai) whenever Tenant fails to pay any Base Rent, monthly installment of the Annual Rental or any additional monthly rent under Section 3.1, hereof, rental or any other amount of money payable by sum due Landlord from Tenant hereunder as and when such rent becomes due and payable and such failure default continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) filesafter written notice by Landlord, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit whenever Tenant fails to perform or observe any other covenant, term, provision or condition of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, this Lease and such order is default continues for a period of thirty (30) days after written notice by Landlord (plus such additional time as may be reasonably required to cure a default which, despite diligent and continuous effort, cannot vacated by its very nature be cured within said thirty (30) days) then, in any of such cases Landlord may give Tenant a notice of intention to terminate this Lease five (i5) appointing a custodiandays after such notice and the term and estate hereby granted, receiverwhether or not the term shall theretofore have commenced, trustee shall expire and terminate on that fifth day with the same effect as if the date of termination were the Expiration Date, but Tenant shall remain liable for damages as provided herein.
(b) If the notice provided in subparagraph (a) above shall have been given and the term shall expire as aforesaid, then Landlord or Landlord's agents and employees may immediately or at any time thereafter re-enter the leased Premises, or any part thereof, either by summary dispossess proceedings or by any suitable action or proceeding at law, or otherwise (other than by force), without being liable to indictment, prosecution or damages therefor, and may repossess the same, and may remove any persons therefrom, to the end that Landlord may have, hold and enjoy the Leased Premises again as and of its first estate and interest therein. In the event of any termination of the term of this Lease under the provisions of Article Thirteen or in the event of the termination of the term of this Lease, or of re-entry, by or under any summary dispossess or other officer with similar powers with respect to Tenant proceeding or with respect to action or any substantial provision of law by reason of default hereunder on the part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or Tenant shall thereupon pay to Landlord the rent and any other petition charge payable by Tenant to Landlord up to the time of such termination or re-entry, as the case may be, and shall also pay to Landlord damages as provided in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or subparagraph (iiic) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysbelow.
Appears in 1 contract
Default by Tenant. The Tenant shall be deemed to be in default under this Lease upon the occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇events:
(a) Tenant fails shall fail to pay when due any Base Rent, or any additional monthly rent under Section 3.1, hereof, Rent or any other amount of money amounts payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar yearunder this Lease; or
(b) Tenant fails shall neglect or fail to perform or breaches observe any of the other agreement or covenant of this Lease covenants and/or Master Lease covenants to be performed or observed by Tenant, and Tenant as and when performance or observance is due and such shall fail to remedy this failure or breach continues for more than ten neglect within thirty (1030) days after Landlord gives shall have given to Tenant written notice thereof specifying such neglect or failure (or within such period, if any, as may be reasonably required to Tenant; providedcure such default, however, that if, by the nature if it is of such agreement or covenant, such failure or breach nature that it cannot reasonably be cured within this thirty (30) day period provided that Tenant shall have commenced to effect such period of ten (10) days, an Event of Default cure and shall not exist as long as Tenant commences proceed with due diligence and dispatch the curing of to complete such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breachcure); or
(c) Tenant shall neglect or fail to perform or observe any of the Lease covenants (i) filesincluding, or consents by answer or otherwise to without limitation, the filing against it oftimely payment of Rent, a petition for relief or reorganization or arrangement or any other petition amounts payable hereunder) and/or Master Lease covenants three or more times in bankruptcy or for liquidation or any 12-month period, such third occurrence being agreed between Landlord and Tenant to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's propertybe incurable; or
(d) Without consent The making by ▇▇▇▇▇▇Tenant of any general assignment or general arrangement for the benefit of creditors; or the filing of any action by or against Tenant under any insolvency, bankruptcy, reorganization, moratorium, or other debtor relief statute, whether now or hereafter existing, (unless in the case of such action taken against Tenant, the same is dismissed within sixty (60) days); or the appointment of a court trustee or government authority enters an ordera receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, and such order where possession is not vacated restored to Tenant within thirty (30) days; or the attachment, (i) appointing a custodian, receiver, trustee execution or other officer with similar powers with respect to Tenant or with respect to any substantial part judicial seizure of substantially all of Tenant's property, assets located at the Premises or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant's interest in this Lease, where such seizure is not discharged in ten (10) days; or the admission by Tenant in writing of the inability to pay its debts as they become due; or
(e) This Any guarantor of Tenant's obligations under this Lease revokes, or any estate of Tenant hereunder is levied upon under any attachment or execution and attempts to revoke, such attachment or execution is not vacated within thirty (30) daysguaranty.
Appears in 1 contract
Default by Tenant. The occurrence of any one or more All of the following events ("Event rights and remedies of Default") Landlord herein enumerated shall constitute a breach of this Lease be cumulative, and none shall exclude any other right or remedy allowed by ▇▇▇▇▇▇law. It is agreed that in the event:
(ai) That the Tenant fails shall fail, neglect or refuse to pay any Base Rentinstallment of Rent at the time, and in the amount as herein provided, or to pay any other monies agreed by it to be paid promptly when and as the same shall become due and payable under the terms hereof, provided however that Landlord must give Tenant fifteen (15) days written notice and opportunity to cure such alleged default;
(ii) That any voluntary or involuntary petition or similar pleading, under any section or sections of any bankruptcy act, shall be filed by or against Tenant, or any additional monthly rent under Section 3.1voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare Tenant insolvent or unable to pay Tenant’s debts, hereof, and the same shall not be dismissed or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five discharged within thirty (530) days after ▇▇▇▇▇▇▇▇ gives written notice thereof in writing;
(iii) That the Tenant shall fail, neglect or refuse to keep and perform any of the other covenants, conditions, stipulations or agreements herein contained and to be kept and performed by it, and in the event any such default shall continue, for a period of more than thirty (30) days after notice thereof in writing given to the Tenant, by the Landlord; provided, however, that after if the second cause for giving such failure in notice involves the making of repairs, or other matters reasonably requiring a calendar year, only longer period of time than the passage period of time, but no further written such notice, the Tenant shall be required deemed to establish an Event of Default have complied with such notice so long as it has commenced to comply with said notice within the period set forth in the same calendar year; ornotice, and is diligently prosecuting compliance with said notice, or has taken proper steps or proceedings, under the circumstances, to prevent the seizure, destruction, alteration or other interference with said Demised Premises by reason of non-compliance with the requirements of any law or any ordinance or with the regulations, rules or directions of any government authority, as the case may be;
(biv) That the Tenant fails to perform or breaches makes any other agreement or covenant assignment of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment its property for the benefit of its creditors, or (iii) consents to should the appointment Demised Premises be taken under a levy of a custodianexecution or attachment, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of in an action against the Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order levy, attachment or assignment is not vacated dismissed and discharged within thirty (30) daysdays after written notice thereof to Tenant by Landlord; then in any event as described in Sections 10.01 (i), (i) appointing a custodianii), receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering or (iv), the dissolutionTenant does hereby authorize and fully empower said Landlord or Landlord’s agent to cancel or annul this Lease at once and to re-enter and take possession of said Demised Premises immediately, windingand remove all persons and their property therefrom, and to use such force and assistance in effecting and perfecting such removal as said Landlord may deem necessary and advisable to recover at once full and exclusive possession of all of said Demised Premises, whether in possession of said Tenant or of their persons or otherwise. At Landlord’s option, Landlord may declare all installments of Rent for the remainder of the lease term to be immediately due and payable whereupon the same shall become immediately due and payable. The Landlord may, however, at its option, at any time after a default or violation of a condition or covenant, re-up enter and take possession of said Premises without such re-entering working a forfeiture of the rents to be paid and the covenants, agreements and conditions to be kept and performed by said Tenant for the full term of this Lease. In such event, the Landlord shall have the right, but not the obligation, to divide or subdivide the Premises in any manner the Landlord may determine and to lease or let the same or portions thereof for such periods of time and at such rentals and for such use and upon such covenants and conditions as Landlord may elect, applying the net rentals from such letting first to the payment of Landlord’s expenses incurred in dispossessing the Tenant and the costs and expenses of making such improvements in the Premises as may be necessary in order to enable the Landlord to relet the same, and to the payment of any brokerage commissions or other necessary expenses of the Landlord in connection with such reletting. The balance, if any, shall be applied by the Landlord from time to time, but in any event not less than once each month, on account of the payments due or payable by the Tenant hereunder, with the right reserved to Landlord to bring such actions or proceedings for the recovery of any deficits remaining unpaid as it may deem advisable from time to time, without being obligated to await the end of the term hereof for a final determination of the Tenant’s account and the commencement or maintenance of one (1) or more actions shall not bar the Landlord from bringing other or subsequent actions for further accruals pursuant to the provisions of this Paragraph. Any balance remaining, however, after full payment and liquidation of Landlord’s account, as aforesaid, shall be paid to the Tenant from time to time with the right reserved to the Landlord at any time to give notice in writing to the Tenant of Landlord’s election to cancel and terminate this Lease and all Tenant; or
(e) This ’s obligations hereunder and upon the giving of such notice and the simultaneous payment by Landlord to Tenant of any credit balance in Tenant’s favor that may at the time be owing to Tenant shall constitute a final and effective cancellation and termination of this Lease or any estate and the obligations thereunder on the part of either party to the other. In addition to the foregoing, collection costs and reasonable attorneys’ fees shall be paid by Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysif delinquencies are referred for collection.
Appears in 1 contract
Sources: Commercial Office Lease (Ultimate Software Group Inc)
Default by Tenant. The Landlord and Tenant hereby agree that the occurrence of any one or more of the following events ("“Event of Default"”) is a default by Tenant under this Lease and that said Event of Default shall give Landlord the rights described in Section 14.2 (and Landlord or Landlord’s authorized agent(s) shall constitute a breach have the right to serve any notice of this Lease by ▇▇▇▇▇▇:default, notice to pay rent or quit or similar notice):
(a) Tenant fails to pay make any payment of Base Rent, Additional Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable sum required to be made by Tenant hereunder as and when due, and such rent becomes due failure shall continue for a period of ten (10) business days after Landlord gives Tenant written notice thereof;
(b) Tenant fails to execute and payable deliver to Landlord an estoppel certificate pursuant to Section 18 or a subordination, non-disturbance and attornment agreement pursuant to Section 24 within the timeframes set forth therein, and such failure continues for more twenty (20) business days following written notice from Landlord of such failure;
(c) Tenant fails to maintain any insurance required in this Lease and such failure shall continue for two (2) business days after written notice thereof from Landlord;
(d) Tenant makes a Transfer in violation of the provisions of Section 13, or if any event shall occur whereby this Lease, or the term and estate thereby created, would (by operation of law or otherwise) devolve upon or pass to any person, firm or corporation other than five Tenant, except as expressly permitted under Section 13 hereof, and such failure is not cured within twenty (520) business days after written notice thereof from Landlord.
(e) Tenant fails to observe or perform any of the covenants, conditions, agreements, or provisions of this Lease to be observed or performed by Tenant (other than those referenced in Section 14.1(a) - (c)) and such failure shall continue for a period of thirty (30) days after ▇▇▇▇▇▇▇▇ gives receipt of written notice thereof from Landlord to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by if the nature of Tenant’s nonperformance is such agreement or covenantthat more than thirty (30) days are reasonably required for its cure, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default then Tenant shall not exist as long as be deemed to be in default if Tenant commences with due diligence such cure within said thirty (30) day period and dispatch the curing of thereafter diligently pursues such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; orcure to completion.
(cf) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or makes any general arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an general assignment for the benefit of its creditors; (i) Tenant files any petition or action for relief under any creditor’s law (including bankruptcy, reorganization, or similar action), either in state or federal court, or has such a petition or action filed against it which is not stayed or vacated within sixty (60) days after filing; (ii) Tenant makes any transfer in fraud of creditors as defined in any federal or state statutes; (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers receiver to take possession of Tenant all or substantially all of Tenant’s assets or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇’s interest in this Lease, a court or government authority enters an order, and such order which appointment is not vacated within thirty sixty (3060) daysdays of having been filed; or (iv) there is any attachment, (i) appointing a custodianexecution, receiver, trustee or other officer with similar powers with respect to Tenant judicial seizure of all or with respect to any substantial part substantially all of Tenant's property’s assets or of Tenant’s interest in this Lease, which attachment, execution, or other judicial seizure is not vacated within sixty (ii60) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage days of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or having been ordered;
(iiig) ordering the dissolution, winding-up The dissolution or liquidation of Tenant; or
(eh) This Lease or any estate Tenant permanently vacates the Premises in its entirety without the payment of Tenant hereunder is levied upon under any attachment or execution Rent and such attachment or execution is not vacated within thirty (30) dayswithout maintaining the Premises in accordance with this Lease.
Appears in 1 contract
Default by Tenant. (a) The occurrence of any one or more of the following events shall be deemed to be events of default by Tenant under this Lease ("hereinafter called an “Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:”):
(a1) Tenant fails shall fail to timely pay any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable Rent and such failure continues shall continue for more than a period of five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof of such default shall have been delivered to Tenant; provided, however, that after the second once Landlord has given Tenant two (2) such notices during any twelve (12) month period (whether as to one or more than one failure in a calendar yearto pay), only the passage of time, but no further written notice, Landlord shall not be required to establish give further notice and thereafter the failure or refusal by Tenant to timely make any payment of Rent when due hereunder within the following twelve (12) months shall be an Event of Default in the same calendar year; orwithout notice or grace period;
(b2) Tenant fails shall fail to perform comply with any terms, provisions or breaches covenants of this Lease or any other agreement or covenant between Landlord and Tenant not requiring the payment of this Lease to Rent, all of which terms, provisions and covenants shall be performed or observed by Tenant as and when performance or observance is due deemed material, and such failure or breach continues shall continue for more than ten a period of thirty (1030) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenantfailure is delivered to Tenant or, if such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) daysday period, Tenant shall fail to commence to cure such failure within such thirty (i30) appointing day period and/or shall thereafter fail to prosecute such cure diligently and continuously to completion within sixty (60) days of the date of Landlord's notice of default;
(3) Tenant takes any action to, or notifies Landlord that Tenant intends to, file a custodianpetition under any section or chapter of the United States Bankruptcy Code, receiveras amended from time to time, or under any similar law or statute of the United States or any state thereof; or a petition shall be filed against Tenant under any such statute and shall not be dismissed within sixty (60) days thereafter;
(4) a receiver or trustee shall be appointed for Tenant's leasehold interest in the Premises or other officer with similar powers with respect to Tenant for all or with respect to any a substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation assets of Tenant; or
(e5) This Lease Tenant abandons all or any estate substantial portion of the Premises, or refuses to take occupancy thereof.
(b) Upon the occurrence of any Event of Default, Landlord may, at its option and without further notice to Tenant and without judicial process, in addition to all other remedies given hereunder or by law or equity, do any one or more of the following: (1) terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises to Landlord; (2) enter upon and take possession of the Premises and expel or remove Tenant therefrom, with or without having terminated this Lease; (3) apply all or any portion of the Security Deposit to cure such Event of Default; (4) change or re-key all locks to entrances to the Premises, and Landlord shall have no obligation to give Tenant a new key to the Premises until such Event of Default is cured; and (5) remove from the Premises any furniture, fixtures, equipment or other personal property of Tenant, without liability for trespass or conversion, and store such items either in Landlord’s Premises or elsewhere at the sole cost of Tenant hereunder is levied upon under any attachment and without liability to Tenant. Any of such furniture, fixtures, equipment or execution and such attachment or execution is personal property not vacated claimed within thirty (30) daysdays from the date of removal shall be deemed abandoned.
(c) Exercise by Landlord of any one or more remedies hereunder shall not constitute forfeiture or an acceptance of surrender of the Premises by Tenant, it being understood that such surrender can be effected only by the written agreement of Landlord and Tenant.
(d) If Landlord terminates this Lease by reason of an Event of Default, Tenant shall pay to Landlord the sum of (1) the cost of recovering the Premises, (2) the unpaid Rent and all other indebtedness accrued hereunder to the date of such termination, (3) the amounts stated in Section 27(f), and (4) the total Rent which Landlord would have received under this Lease for the remainder of the Lease Term minus the Fair Market Rental Value (hereinafter defined) of the Premises for the same period, both discounted to present value at the Prime Rate (hereinafter defined) in effect upon the date of determination, and (5) any other damages or relief which Landlord may be entitled to at law or in equity. For the purposes of this section, “Fair Market Rental Value” shall be the rental rate that would be received from a comparable tenant for a comparable lease for premises and other properties of equivalent quality, size, condition and location as the Premises, taking into account any free rent or other concessions, that are generally prevailing in the market place at the time of Tenant's default, market conditions and the period of time the Premises may reasonably be expected to remain vacant before Landlord is able to re-let the Premises to a suitable new tenant.
(e) If Landlord repossesses the Premises without terminating this Lease, then Tenant shall pay to Landlord (1) the cost of recovering the Premises, (2) the unpaid Rent and other indebtedness accrued to the date of such repossession, (3) the amounts stated in Section 27(f)(2), and (4) the total Rent which Landlord would have received under this Lease for the remainder of the Lease Term minus any net sums thereafter received by Landlord through re-letting the Premises during said period after deducting expenses incurred by Landlord in connection with such re-letting for advertising costs, brokerage commissions, architectural fees, tenant improvement costs and allowances and any other allowances or concessions provided by Landlord (amortized pro rata over the term of such new lease). Re-entry by Landlord will not affect the obligations of Tenant for the unexpired term of this Lease. Tenant shall not be entitled to any excess of rent obtained by re-letting over the Rent required to be paid by Tenant hereunder. Actions to collect amounts due by Tenant may be brought one or more times, without the necessity of Landlord's waiting until the expiration of the Lease Term. In addition, Landlord may, at any time following repossession of the Premises without termination of the Lease, elect to terminate the Lease and pursue the remedies available to Landlord pursuant to Section 27(d) above in lieu of the remedies available to Landlord pursuant to this Section 27(e).
(f) In the case of an Event of Default, Tenant shall also pay to Landlord: (1) if Landlord has terminated this Lease pursuant to Section 27(d), the unamortized portion (assuming level amortization at twelve percent (12%) interest over the Lease Term) upon the date of termination of all leasing commissions, tenant improvement costs and allowances, architectural costs and allowances, any other allowances provided by Landlord and all other out-of-pocket costs of Landlord related to this Lease; and (2) all other expenses reasonably incurred by Landlord in enforcing Landlord's remedies, including reasonable attorneys' fees and court costs.
(g) Upon termination of this Lease or repossession of the Premises due to the occurrence of an Event of Default, Landlord shall use commercially reasonably efforts to re-let the Premises upon such terms and conditions as Landlord, in Landlord's sole discretion, deems prudent. However, Landlord shall not be required to show preference in leasing the Premises over any other space in the Building or any other office buildings owned by Landlord or any affiliate of Landlord in the Market Area.
(h) If Tenant should fail to make any payment, perform any obligation, or cure any default hereunder within ten (10) days after receipt of written notice thereof, Landlord, without obligation to do so and without thereby waiving such failure or default, may make such payment, perform such obligation, and/or remedy such other default for the account of Tenant (and enter the Premises for such purpose), and Tenant shall, within ten (10) days following written demand, pay all reasonable costs, expenses and disbursements (including all reasonable attorneys' fees) incurred by Landlord in taking such remedial action, plus, at the option of Landlord, interest thereon at the Default Rate.
(i) Nothing in this Lease will be construed as imposing any duty upon Landlord to re-let the Premises.
(j) Any grant herein by Landlord of an abatement of Base Rental or Basic Operating Costs is conditioned upon the non-occurrence of an Event of Default. Upon the occurrence of an Event of Default resulting in Landlord’s termination of the Lease, any and all amounts of previously abated Base Rental and Basic Operating Costs shall become immediately due and payable by Tenant to Landlord as Rent and any provision in this Lease that contemplates the future abatement of Base Rental or Basic Operating Costs shall be immediately terminated and of no further force or effect.
(k) The specific remedies to which Landlord may resort under the terms of this Lease are cumulative and are not intended to be exclusive of any other remedies or means of redress to which it may be lawfully entitled in case of any breach or threatened breach by Tenant of any provisions of this Lease. Without limiting the foregoing, in addition to the other remedies provided in this Lease, Landlord shall be entitled to the restraint by injunction of the violation or attempted or threatened violation of any of the covenants, conditions or provisions of this Lease or to a decree compelling specific performance of any such covenants, conditions or provisions.
Appears in 1 contract
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇Tenant:
(a) Tenant fails to pay any Base Rent, or any additional monthly additi▇▇▇▇ ▇onthly rent under Section 3.1, section 3.1 hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ Landlord gives written notice thereof to Tenant; : provided, however, that after ▇▇▇▇ ▇▇ter the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; : or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach failur▇ ▇▇ ▇reach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; : provided, however, that if, ▇▇▇▇ ▇▇. by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten often (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten often (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.
Appears in 1 contract
Default by Tenant. The occurrence of any If one or more of the following events Events of Default shall occur and shall continue for such time after any required notice is given as hereinafter provided:
("Event of Default"i) If Tenant shall constitute a breach fail to pay any rent and/or any other sum due hereunder when due in accordance with the terms of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues default shall continue for more than a period of five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar yearTenant thereof; or
(bii) If Tenant fails shall fail to keep or perform or breaches abide by any other term, condition, covenant or agreement or covenant of in this Lease to be performed or observed by Tenant as of the Rules and when performance Regulations now or observance is due hereafter in effect and such failure or breach continues default shall continue for more than ten a period of fifteen (1015) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breachthereof; or
(ciii) Tenant (i) filesIf Tenant, or consents by answer or otherwise to the filing against it ofif Tenant is a partnership, if any partner of Tenant, shall file a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation take or consent to take advantage of any bankruptcy, insolvency other action seeking any such judicial decree or other debtors' relief law of shall make any jurisdiction, (ii) makes an assignment for the benefit of its creditorscreditors or shall admit in writing its inability to pay its debts generally as they become due, or (iii) consents to the appointment if any court of competent jurisdiction shall enter a custodiandecree or order adjudicating it bankrupt or insolvent, receiver, or if any trustee or other officer with similar powers of receiver for Tenant or of for any substantial part of Tenant's propertyits property be appointed, or if any person shall file a petition for involuntary bankruptcy against Tenant and such appointment or petition shall not be stayed or vacated within sixty (60) days of entry thereof; or
(div) Without consent by ▇▇▇▇▇▇If Tenant's interest in this Lease or the Premises shall be subjected to any attachment, a court levy or government authority enters an order, sale pursuant to any order or decree entered against Tenant in any legal proceeding and such order is or decree shall not be vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part days of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenantentry thereof; or
(ev) This If Landlord, on four (4) or more occasions in any twelve (12) month period, gives notice to Tenant of default under the first and third subparagraphs above, notwithstanding Tenant's cure of such noticed defaults within the allowable periods; Then and in any such event Landlord without declaring a termination of this Lease (which right is, however, unconditionally and absolutely reserved) may at its election exercise one or more of the remedies in Section 9.2 in addition to any estate other remedies available to Landlord in law, in equity, or pursuant to the terms of this Lease. Notwithstanding anything contained in this Section 9.1 to the contrary, Tenant hereunder is levied upon may cease operations, vacate or abandon the Premises or fail to operate its business continuously in the Premises so long as Tenant continues to (i) pay Base Rent, Additional Rent, and other charges, if any, to Tenant hereunder, including costs incurred by Landlord in the ordinary course of operating and maintaining the Premises and collecting all sums due and owed Landlord under any attachment or execution this Lease, and (ii) perform all other obligations and duties assigned to Tenant hereunder, and such attachment vacating or execution is abandonment shall not vacated within thirty (30) daysbe deemed a default hereunder.
Appears in 1 contract
Sources: Lease Agreement (Pharmaceutical Product Development Inc)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a material default and breach of this Lease Agreement by ▇▇▇▇▇▇:
Tenant: (ai) Tenant fails the abandonment of the Premises; (ii) failure to pay make any Base Rent, or any additional monthly installment of rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder payment when and as and when such rent becomes due and payable and such failure continues shall continue for more than five a period of thirty (530) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; or (iii) failure to observe or perform any of the covenants, conditions or provisions of this Agreement, where such failure shall continue for a period of sixty (60) days after written notice from Landlord, provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, Tenant shall not be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease deemed to be performed in default if Tenant commenced such cure within said sixty (60) days period and thereafter diligently pursues such cure to completion; or observed (iv) the making by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency general assignment or other debtors' relief law of any jurisdiction, (ii) makes an assignment general arrangement for the benefit of its creditors, or (iii) consents the filing by or for reorganization or arrangement under any law relating to bankruptcy, or the appointment of a custodian, receiver, trustee or other officer with similar powers receiver to take possession of Tenant or of any substantial part substantially all of Tenant's property; or
assets or of Tenant's interest in this Agreement, or the attachment, execution or other judicial seizure of substantially all of the Tenant's assets interest in this Agreement, unless any such action is dismissed or discharged within ninety (d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (3090) days.
37.1. In the event of any such material default or breach by Tenant, Landlord may at any time thereafter, with notice and demand and without limiting Landlord in the exercise of any right or remedy which Landlord may have by reason of such default or breach: (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of terminate the Lease Agreement and Tenant's propertyright to possession of the Premises by any lawful means, or in which case Tenant shall after notice and demand surrender possession of the Premises; and (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or pursue any other petition remedy now or hereafter available to Landlord under the Lease Agreement or by law.
37.2. Should Landlord terminate this Agreement for default, in bankruptcy or for liquidation or addition to take advantage any other remedies Landlord may have, Landlord may recover from Tenant all damages suffered by reason of any bankruptcysuch default, insolvency or other debtors' relief law including the cost of any jurisdiction, or (iii) ordering recovering and reletting the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution Premises and such attachment or execution is not vacated within thirty (30) daysreasonable attorney's fees.
Appears in 1 contract
Default by Tenant. a. The occurrence following events shall constitute events of default under this Lease: [SEE ADDENDUM TO LEASE]
(1) a default by Tena▇▇ ▇▇ the payment of any rent or other sum payable hereunder for a period of 3 days after the same is due;
(2) a default by Tenant in the performance of any of the other terms, covenants, agreements, or conditions contained herein and, if the default is curable, the continuation of such default for a period of 10 days after notice by Landlord or beyond the time reasonably necessary for cure if the default is of the nature to require more than 10 days to remedy, provided that if Tenant has defaulted in the performance of the same obligation one or more times in any twelve-month period and notice of the following events ("Event of Default") such default has been given by Landlord in each instance, no cure period shall constitute a breach of this Lease by ▇▇▇▇▇▇:thereafter be applicable hereunder;
(a3) Tenant fails to pay the bankruptcy or insolvency of Tenant, any Base Renttransfer by Tena▇▇ in fraud of creditors, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable assignment by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the commencement of any proceedings of any kind by or against Tenant under any provision of the Federal Bankruptcy Act or under any other insolvency, bankruptcy or reorganization act unless, in the event any such proceedings are involuntary, Tenant is discharged from the same within 60 days thereafter; the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any receiver for a substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation assets of Tenant; or
(e) This or the levy upon this Lease or any estate of Tenant hereunder is levied upon under by any attachment or execution execution; and
(4) the abandonment of the premises.
b. Upon the occurrence of any event of default by Tenant hereunder, Landlord may, at its option and without any further notice or demand, in addition to any other rights and remedies given hereunder or by law, do any of the following:
(1) Landlord shall have the right, so long as default continues, to give the notice of termination to Tenant, and on the date specified in such attachment notice this Lease shall terminate.
(2) In the event of any such termination of this Lease, Landlord may then or execution is not vacated within thirty any time thereafter, reenter the premises and remove therefrom all persons and property and again repossess and enjoy the premises, without prejudice to any other remedies that Landlord may have by reason of Tenant's default or of such termination.
(303) daysIn the event of any such termination of this Lease, and in addition to any other rights and remedies Landlord may have, Landlord shall have all of the rights and remedies of a landlord provided by Section 1951.2 of the California Civil Code. The amount of damages which Landlord may recover in event of such termination shall include, without limitation, (i) the worth at the time of award (computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rent for balance of the term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided, (ii) all reasonable legal expenses and other related costs incurred by Landlord following Tenant's default, (iii) all costs incurred by Landlord in restoring the premises to good order and condition, or in remodeling, renovating or otherwise preparing the premises for reletting, and (iv) all costs (including, without limitation, any brokerage commissions) incurred by Landlord in reletting the premises.
(4) For the purpose of determining the unpaid rent in the event of a termination of this Lease, or the rent due hereunder in the event of a reletting of the premises, the monthly rent reserved in this Lease shall be deemed to be the sum of the rental due under paragraph 3 above and the amounts last payable by Tenant pursuant to paragraph 4 above.
(5) After terminating this Lease, Landlord may remove any and all personal property located in the premises and place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant.
Appears in 1 contract
Sources: Facilities Lease (Insite Vision Inc)
Default by Tenant. (A) The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of default under this Lease by ▇▇▇▇▇▇Tenant:
(a1) Any failure by Tenant fails to pay any Base Rent, Rent or any additional monthly rent other charge required to be paid under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable this Lease and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days andafter Tenant's receipt of written notice thereof from Landlord; provided that Landlord shall not be required to provide Tenant with notice of failure to pay Minimum Rent or CAM Charges more than two (2) times in any twelve (12) month period, having so commenced, thereafter prosecutes with diligence and dispatch and completes any subsequent failures in such twelve (12) month period to pay in full Minimum Rent or CAM Charges on the curing day the same is due shall constitute a default without the requirement of such failure or breachnotice; or
(c2) Any failure by Tenant to observe or perform any other provision, covenant or condition of this Lease to be observed or performed by Tenant and such failure continues for thirty (i30) filesdays after written notice thereof from Landlord to Tenant, or consents provided, however, that if the nature of such default is such that the same cannot reasonably be cured within a thirty (30) day period, Tenant shall not be deemed to be in default if it shall commence such cure within such thirty (30) day period and thereafter rectify and cure such default with due diligence; or
(3) To the extent permitted by answer or otherwise to the filing against it oflaw, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an general assignment by Tenant for the benefit of its creditors, or the filing by or against Tenant of any proceeding under any insolvency or bankruptcy law, unless, in the case of a proceeding filed against Tenant, the same is dismissed within ninety (iii90) consents to days, or the appointment of a custodian, receiver, trustee or receiver to take possession of all or substantially all of the assets of Tenant, unless possession is restored to Tenant within ninety (90) days, or any execution or other officer with similar powers judicially authorized seizure of Tenant all or of any substantial part substantially all of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court assets located upon the Premises or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's propertyinterest in this Lease, or unless the seizure is discharged within ninety (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (3090) days.
Appears in 1 contract
Sources: Lease Agreement (DSW Inc.)
Default by Tenant. The occurrence This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth, and if any one or more of the following events of default shall occur, to-wit: ("Event a) any installment of Default"Rent, additional rent, CAM charges, or any other sums required to be paid by Tenant hereunder, or any part thereof, shall at any time be in arrears and unpaid for fifteen (15) shall constitute a breach days after it is due, or (b) there be any default on the part of Tenant in the observance or performance of any of the other covenants, agreements, or conditions of this Lease on the part of Tenant to be kept and performed, and said default shall continue for a period of thirty (30) days after written notice thereof from Landlord to Tenant (unless such default cannot reasonably be cured within thirty (30) days and Tenant shall have commenced to cure said default within said thirty (30) days and continues diligently to pursue the curing of the same), or (c) Tenant shall file a petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or make an assignment for the benefit of creditors, or (d) any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties or of the Demised Premises shall be appointed in any action, suit or proceeding by or against Tenant and such proceeding or action shall not have been dismissed within thirty (30) days after such appointment, or (e) the leasehold estate hereby created shall be taken on execution or by other process of law, or (f) Tenant shall admit in writing its inability to pay its obligations generally as they become due, or (g) Tenant shall vacate or abandon the Demised Premises, then and in any of said cases, Landlord at its option may terminate this Lease and re-enter upon the Demised Premises and take possession thereof with full right to sue for and collect all sums or amounts with respect to which Tenant may then be in default and accrued up to the time of such entry, including damages to Landlord by reason of any breach or default on the part of Tenant, or Landlord may, if it elects to do so, bring suit for the collection of such rents and damages without entering into possession of the Demised Premises or voiding this Lease. In addition to, but not in limitation of, any of the remedies set forth in this Lease or given to Landlord by law or in equity, Landlord shall also have the right and option, in the event of any default by Tenant under this Lease and the continuance of such default after the period of notice above provided, retake possession of the Demised Premises from Tenant without process of law, by summary proceedings or otherwise, and it is agreed that the commencement and prosecution of any action by Landlord in forcible entry and detainer, ejectment or otherwise, or any execution of any judgment or decree obtained in any action to recover possession of the Demised Premises, shall not be construed as an election to terminate this Lease unless Landlord expressly exercises its option hereinabove provided to declare deemed to have absolved or discharged Tenant from any of its obligations and liabilities for the remainder of the term of this Lease, and Tenant shall, notwithstanding such entry or re-entry, continue to be liable for the payment of the Rent and any additional rent and the performance of the other amounts of such deficits from time to time are ascertained and, in the event of any such ouster, Landlord rents or leases the Demised Premises to some other person, firm or corporation (whether for a term greater, less than or equal to the unexpired portion of the term created hereunder) for an aggregate rent during the portion of such new lease co-extensive with the term created hereunder which is less than the rent and other charges which T▇▇▇▇▇ would pay hereunder for such period, Landlord may immediately upon the making of such new lease of the creation of such new tenancy sue for and recover the differences between the aggregate rental provided for in said new lease for the portion of the term co-extensive with the term created hereunder and the rent which T▇▇:
(a) ▇▇▇ would pay hereunder for such period, together with any expense to which Landlord may be put for brokerage commission, placing the Demised Premises in tenantable condition or otherwise. If such now lease or tenancy is made for shorter term than the balance of the term of this Lease, any such action brought by Landlord to collect the deficit for that period shall not bar Landlord from thereafter suing for any loss during the balance of the unexpired terms of this Lease. For the avoidance of doubt, in the event of a default and unless and until Tenant fails cures the default, Landlord withholds the right to prevent Tenant from occupying the Demised Premises. Moreover, in the event of a default, Landlord may, at its sole option, terminate the Lease and upon termination, Tenant shall pay the balance of the then-current Lease Tem immediately due and payable, together with all other charges, payments, costs, and expenses payable by Tenant as though such amounts were payable in advance on the date the Event of Default occurred. If Tenant at any time shall fail to pay any Base Rentassessments or liens, or to make any additional monthly rent payment or perform any act required by this Lease to be made or performed by it, Landlord, without waiving or releasing Tenant from any obligation or default under Section 3.1this Lease, hereof, may (but shall be under no obligation to) at any time thereafter make such payment or any other amount perform such act for the account and at the expense of money payable Tenant. All sums so paid by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇L▇▇▇▇▇▇▇ gives written notice and all costs and expenses so incurred shall accrue interest at the rate of 12% per annum or the highest rate permitted by law, whatever is less, from the date of payment or incurring thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, by Landlord and shall constitute additional rent payable by Tenant under this Lease and shall be required paid by Tenant to establish an Event Landlord upon demand. All rights and remedies of Default in the same calendar year; or
(b) Tenant fails to perform or breaches Landlord herein enumerated shall be cumulative, and none shall exclude any other agreement remedies allowed at law or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by equity. T▇▇▇▇▇▇▇ agrees to pay reasonable attorney’s fee and all costs if Landlord, a court or government authority enters in its sole discretion, employs an orderattorney to collect any rent, and such order is not vacated within thirty (30) daysadditional rent, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation sums payable under this Lease agreement or to take advantage of enforce any bankruptcycovenants, insolvency or other debtors' relief law of any jurisdictionagreements, or (iii) ordering conditions on the dissolution, winding-up or liquidation part of Tenant; or
(e) This Lease or any estate of the Tenant hereunder is levied upon under any attachment or execution to be kept and such attachment or execution is not vacated within thirty (30) daysperformed.
Appears in 1 contract
Sources: Lease Agreement (Hut 8 Corp.)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a material default and breach of this Lease by ▇▇▇▇▇▇Tenant:
(ai) The vacating or abandonment of the Premises by Tenant. (Failure to use or occupy the Premises for fifteen (15) consecutive days shall be deemed a vacation or abandonment.) The failure by Tenant fails to pay make any Base Rent, or any additional monthly rent under Section 3.1, hereofpayment of rental, or any other amount of money payable payment required to be made by Tenant hereunder hereunder, as and when such rent becomes due and payable and due, where such failure continues shall continue for more than five a period of ten (510) days after ▇▇▇▇▇▇▇▇ gives written notice thereof by Landlord to Tenant.
(ii) The failure by Tenant to observe or perform any of the terms, covenants or conditions of this Lease to be observed or performed by Tenant, other than described in Sub-sections (A (i)) and (A (ii)) hereinabove, where such failure shall continue for a period of thirty (30) days after notice thereof by Landlord to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by if the nature of Tenant's default and breach is such agreement or covenantthat more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default and breach if Tenant commences such failure or breach cannot reasonably be cured cure within said thirty (30) day period and thereafter diligently prosecutes such period of ten cure to completion within ninety (1090) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or.
(ciii) The making by Tenant (i) filesof any general assignment or general arrangement for the benefit of creditors; or the filing by or against Tenant of a petition to have Tenant adjudged a bankrupt, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days); or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers a receiver to take possession of Tenant or of any substantial part substantially all of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇personal property at the Premises or of Tenant's interest in this Lease, a court or government authority enters an order, and such order where possession is not vacated restored to Tenant within thirty (30) days; or the attachment, (i) appointing a custodian, receiver, trustee execution or other officer with similar powers with respect to Tenant or with respect to any substantial part judicial seizure of substantially all of a Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering personal property at the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.Premises
Appears in 1 contract
Sources: Ground Lease
Default by Tenant. The occurrence of any one or more (a) Any of the following events ("Event of Default") shall constitute a breach events of default under this Lease by ▇▇▇▇▇▇Lease:
(a1) Tenant fails Tenant's failure to pay any Base Rent, rent or any additional monthly rent under Section 3.1, hereof, or any other amount of money sum payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than within five (5) days after ▇▇▇▇▇▇▇▇ gives written Landlord has given Tenant notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; ornonpayment;
(b2) Tenant fails Tenant's failure to perform any of the other terms, covenants, agreements or breaches any other agreement or covenant conditions contained herein and the continuation of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues default for more than ten a period of thirty (1030) days after notice by Landlord gives written notice thereof to Tenant; provided, however, that if, by or beyond the time reasonably necessary for cure if the default is of the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten to require more than thirty (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (1030) days andto remedy, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; orbut in any event within sixty (60) days following Landlord's notice;
(c3) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage insolvency of Tenant, any bankruptcytransfer by Tenant in fraud of creditors, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment by Tenant for the benefit of its creditors, or (iii) consents to the commencement of any proceedings of any kind by or against Tenant under any provision of the Federal Bankruptcy Act or under any other insolvency, bankruptcy or reorganization act; the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any receiver for a substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation assets of Tenant; or
(e) This or the levy upon this Lease or any estate of Tenant hereunder is levied upon under by any attachment or execution execution; unless, in the event any such proceedings are involuntary, Tenant is discharged from the same within sixty (60) days thereafter; or
(4) the abandonment of the Premises.
(b) Upon the occurrence of any event of default by Tenant hereunder, Landlord may, at its option and without any further notice or demand, in addition to any other rights and remedies given hereunder or by law, do any of the following:
(1) Landlord shall have the right so long as such attachment default continues, to give notice of termination to Tenant, and on the date specified in such notice this Lease shall terminate.
(2) In the event of any such termination of this Lease, Landlord may then or execution is at any time thereafter, reenter the Premises and remove therefrom all persons and property and again repossess and enjoy the Premises, without prejudice to any other remedies that Landlord may have by reason of Tenant's default or of such termination.
(3) In the event of any such termination of this Lease, and in addition to any other rights and remedies Landlord may have, Landlord shall have all of the rights and remedies of a Landlord provided by Section 1951.2 of the California Civil Code. The amount of damages which Landlord may recover in event of such termination shall include, without limitation, (i) the worth at the time of award (computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rent for balance of the term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided, (ii) all legal expenses and other related costs incurred by Landlord following Tenant's default, (iii) all costs incurred by Landlord in restoring the Premises to good order and condition, or in remodeling, renovating or otherwise preparing the Premises for reletting, and (iv) all costs (including, without limitation, any brokerage commissions) incurred by Landlord in-reletting the Premises, to the extent allocable to the remaining term of this Lease.
(4) Landlord shall also have the remedy described in California Civil Code Section 1951.4 (lessor may continue the lease in effect after lessee's breach and abandonment and recover rent as it becomes due, if lessee has right to sublet or assign, subject only to reasonable limitations).
(5) For the purpose of determining the unpaid rent in the event of a termination of this Lease, or the rent due hereunder in the event of a reletting of the Premises, the monthly rent reserved in this Lease shall be deemed to be the sum of the rental due under paragraph 3 above and the amounts last payable by Tenant pursuant to paragraph 4 above and any "free rent" or rent waived or abated by Landlord as an inducement for Tenant to enter into this Lease.
(6) Landlord's acceptance of payment from Tenant of less than the amount of rent then due shall not vacated within thirty constitute a waiver of any rights of Landlord or Tenant including, without limitation, any right of Landlord to recover possession of the Premises.
(307) daysAfter terminating this Lease, Landlord may remove any and all personal property located in the Premises and place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant.
(c) Even though Tenant has breached this Lease to and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rental as it becomes due under this Lease. Acts of maintenance or preservation, efforts to relet the Premises, or the appointment of a receiver upon initiative of Landlord to protect Landlord's interest under this Lease shall not constitute a termination of Tenant's right to possession.
(d) Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereby against the other on any matter not relating to personal injury or property damage but otherwise arising out of or in any way connected with this Lease, Tenant's use or occupancy of the Premises, and any statutory remedy.
(e) The remedies provided for in this Lease are in addition to any other remedies available to Landlord at law or in equity, by statute or otherwise.
Appears in 1 contract
Sources: Net Office Lease (Doubletwist Inc)
Default by Tenant. (a) The occurrence of any of the following shall constitute an Event of Default:
(i) Any installment of Base Rent or Additional Rent required to be paid by Tenant hereunder, or any part thereof shall at any time be in arrears and unpaid for five (5) days after the date due, or
(ii) There is any default or breach on the part of Tenant in the observance or performance of any of the other covenants, agreements, or conditions of this Lease on the part of Tenant to be kept and performed and said default or breach shall continue for a period of thirty (30) days after written notice thereof from Landlord to Tenant (unless such default cannot reasonably be cured within thirty (30) days and in such case, Tenant shall have commenced to cure said default within said thirty (30) days and thereafter continue diligently to pursue to completion the curing of same, but in no event to exceed ninety (90) days after notice from Landlord to Tenant), or
(iii) The leasehold estate hereby created shall be taken on execution or by other process of law, or
(iv) Tenant shall fail to deliver within ten (10) days after a request therefor any document described in Sections 13 or 21 hereof.
(b) If and whenever any Event of Default shall exist, Landlord shall have the right at its election then or at any time thereafter which such Event of Default exists to pursue any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇remedies in addition to all other rights or remedies provided herein or at law or in equity:
(ai) Tenant fails Re-enter the Premises, take possession of all buildings, improvements, additions, alterations, equipment and fixtures thereon, and eject all parties in possession therefrom, using, to pay the extent permitted by law, such force for that purpose as may be necessary, without being liable to any Base Rentprosecution for said re-entry or the use of such force, and, without terminating this Lease, at any time and from time to time relet the Premises or any additional monthly part thereof for the account of Tenant or otherwise, receive and collect the rents therefor, applying the same first to payment of such reasonable expenses as Landlord may have paid, assumed or incurred in recovering possession of the Premises, including, without limitation, costs, expenses and reasonable attorney’s fees, brokerage and reasonable remodeling of the Premises, paid, assumed or incurred by Landlord in connection with reletting the Premises, and then to the fulfillment of the covenants of Tenant. Any such reletting as provided for herein may be for the remainder of the Term as originally granted or for a longer or shorter period. Landlord may execute any lease made pursuant to the terms hereof in Landlord’s own name and Tenant shall have no right or authority whatever to collect any rent whatever from such tenant. In any case and whether or not the Premises or any part thereof be relet, Tenant shall pay to Landlord all sums required to be paid by Tenant up to the time of re-entry by Landlord, and thereafter Tenant shall, if required by Landlord, pay to Landlord until the end of the Term, the equivalent amount of all rent and other charges required to be paid by Tenant under the terms of this Lease, less the avails of any such reletting during the Term, if any, after payment of the expenses of Landlord as aforesaid, and the same shall be due and payable on the several rent days herein specified. No such re-entry by Landlord shall constitute an election to terminate this Lease unless and until Landlord thereafter gives Tenant written notice of Landlord’s election to terminate this Lease. Actions to collect any amounts due by Tenant as provided in this Section 3.115 may be brought from time to time on one or more occasions without the necessity of Landlord’s waiting until expiration of the Term;
(ii) Terminate this Lease, hereofand with or without process of law, expel and remove Tenant, or any other amount of money payable person or persons in occupancy from the Premises, together with their goods and chattels, using, to the extent permitted by Tenant hereunder law, such force as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall may be required to establish an Event of Default necessary in the same calendar year; or
(b) Tenant fails judgment of Landlord or its agents in so doing, and repossess and enjoy said Premises together with all improvements, additions, alterations, equipment and fixtures thereon, and in addition to perform or breaches any other agreement or covenant of this Lease to be performed or observed remedy it may have, Landlord may recover from Tenant all reasonable damages it may incur by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature reason of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.
Appears in 1 contract
Sources: Lease Agreement (INSMED Inc)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute be a default and breach of this Lease by ▇▇▇▇▇▇:Tenant;
(ai) Tenant fails shall fail to pay any monthly installment of Base Rent, Rent or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five the Rent Adjustment within ten (510) days after ▇▇▇▇▇▇▇▇ gives written the same strait be due and payable.
(ii) Tenant shall fail to perform or observe any term, condition, covenant or obligation required to he performed or observed by it under this Lease for a period of thirty (30) days after notice thereof to Tenantfrom Landlord; provided, however, that after the second such failure in a calendar yearif thee term, only the passage of timecondition, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform covenant or breaches any other agreement or covenant of this Lease obligation to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach nature that the score cannot reasonably be cured performed within such thirty-day period, such default shall be deemed to have been cured if Tenant commences such performance within said thirty-day period and thereafter diligently undertakes to complete the same, but in any event completes cure within ninety (90) days after notices from Landlord.
(iii) Tenant shall vacate or abandon or fall to occupy for a period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement Premises or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) substantial portion thereof; Tenant makes an assignment for the benefit of its creditors, ; or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part substantially all of Tenant's property; or
assets in, on or about the Premises or Tenant's Interest in this Lease are attached or levied upon under execution (d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is Tenant does not vacated discharge the same within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenantdays thereafter); or
(eiv) This Lease Tenant causes or any estate of Tenant hereunder is levied upon under any attachment or execution permits a hazardous condition to exist on the Premises and fails to cure such attachment or execution is not vacated within thirty (30) dayscondition immediately after notice thereof from Landlord.
Appears in 1 contract
Sources: Lease (Early Detect)
Default by Tenant. The occurrence of any one or more (a) Any of the following events ("Event of Default") shall constitute events of default under this Lease:
(1) a breach of this Lease default by ▇▇▇▇▇▇ in the payment of any rent or other sum payable hereunder when due;
(2) a default by Tenant in the performance of any of the other terms, covenants, agreements or conditions contained herein and, if the default is curable, the continuation of such default for a period of 10 days after notice by Landlord or beyond the time reasonably necessary for cure if the default is of the nature to require more than 10 days to remedy, provided that if Tenant has defaulted in the performance of the same obligation more than one time in any twelve-month period and notice of such default has been given by Landlord in such instance, no cure period shall thereafter be applicable hereunder;
(3) the bankruptcy or insolvency of Tenant, any transfer by ▇▇▇▇▇▇ in fraud of creditors, assignment by Tenant for the benefit of creditors, or the commencement of any proceedings of any kind by or against Tenant under any provision of the Federal Bankruptcy Act or under any other insolvency, bankruptcy or reorganization act unless, in the event any such proceedings are involuntary, Tenant is discharged from the same within 60 days thereafter; the appointment of a receiver for a substantial part of the assets of Tenant; or the levy upon this Lease or any estate of Tenant hereunder by any attachment or execution; or
(4) the abandonment of the premises which for the purpose of this sub-paragraph shall be deemed to occur when Tenant allows the premises to be unoccupied by Tenant or its employees for a period longer than ten (10) consecutive days during the term of this Lease.
(b) Upon the occurrence of any event of default by Tenant hereunder, Landlord may, at its option and without any further notice or demand, in addition to any other rights and remedies given hereunder or by law, do any of the following:
(a1) Landlord shall have the right, so long as such default continues, to give notice of termination to Tenant, and on the date specified in such notice this Lease shall terminate.
(2) In the event of any such termination of this Lease, Landlord may then or at any time thereafter, re-enter the premises and remove therefrom all persons and property and again repossess and enjoy the premises, without prejudice to any other remedies that Landlord may have by reason of Tenant's default or of such termination.
(3) In the event of any such termination of this Lease, and in addition to any other rights and remedies Landlord may have, Landlord shall have all of the rights and remedies of a landlord provided by Section 1951.2 of the California Civil Code. The amount of damages which Landlord may recover in event of such termination shall include, without limitation, (i) the worth at the time of award (computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rent for balance of the term after the time of award exceeds the amount of rental loss that Tenant fails proves could be reasonably avoided, (ii) all legal expenses and other related costs incurred by Landlord following Tenant's default, (iii) all costs incurred by Landlord in restoring the premises to pay any Base Rentgood order and condition, or in remodeling, renovating or otherwise preparing the premises for reletting, and (iv) all costs (including, without limitation any additional brokerage commissions) incurred by Landlord in reletting the premises.
(4) For the purpose of determining the unpaid rent in the event of a termination of this Lease, or the rent due hereunder in the event of a reletting of the premises, the monthly rent reserved in this Lease shall be deemed to be the sum of the rental due under Section 3.1, hereof, or any other amount of money paragraph 3 above and the amounts last payable by Tenant hereunder pursuant to paragraph 4 and 5 above and any concessions by Landlord as and when such rent becomes due and payable and such failure continues an inducement for more than five Tenant to enter into this Lease.
(5) days after Landlord's acceptance of payment from Tenant of less than the amount of rent then due shall not constitute a waiver of any rights of Landlord or Tenant including, without limitation, any right of Landlord to recover possession of the premises.
(6) After terminating this Lease, Landlord may remove any and all personal property located in the premises and place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant.
(c) Even though ▇▇▇▇▇▇ has breached this Lease and abandoned the premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant's right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rental as it becomes due under this Lease. Acts of maintenance or preservation, efforts to relet the premises, or the appointment of a receiver upon initiative of Landlord to protect ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice▇'s interest under this Lease, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, constitute a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part termination of Tenant's property; orright to possession.
(d) Without consent Tenant hereby waives all rights under California Code of Civil Procedure Section 1179 and California Civil Code Section 3275 providing for relief from forfeiture, and any other right now or hereafter existing to redeem the premises or reinstate this Lease after termination pursuant to this Paragraph 15 or by order or judgment of any court or by any legal process.
(e) Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereby against the other on any matters not relating to personal injury or property damage but otherwise arising out of or in any way connected with this Lease, the relationship of Landlord and Tenant, ▇▇▇▇▇▇, a court 's use or government authority enters an orderoccupancy of the premises, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement emergency statutory or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; orstatutory remedy.
(ef) This The remedies provided for in this Lease are in addition to any other remedies available to Landlord at law or any estate of Tenant hereunder is levied upon under any attachment in equity, by statute or execution and such attachment or execution is not vacated within thirty (30) daysotherwise.
Appears in 1 contract
Default by Tenant. (a) The occurrence of each of the following shall be deemed an "Event of Default" hereunder:
(i) if Tenant shall fail to pay when due any installment of (i) Base Annual Rental or Base Rooftop Rental Rent and such failure continues for 5 days after Landlord's delivery to Tenant of notice of such non-payment or (ii) Additional Rent and such failure continues for 10 days after Landlord's delivery to Tenant of notice of such non-payment; except that, in each case, in no event shall Landlord be required to provide such notice and opportunity to cure with respect to more than three (3) such defaults during any 12-month period; or
(ii) if Tenant shall default in the performance of any of the other covenants or conditions not covered by other clauses in this Section 5.10 which Tenant is required to observe and to perform, and such default shall continue for 30 days after written notice thereof given by Landlord to Tenant (which such notice shall specify in reasonable detail the nature of such default); provided, however, if the nature of the default is such that it cannot be cured with the exercise of commercially reasonable efforts within such 30-day period, then (1) Tenant shall have up to 90 days from the date of Landlord's notice to cure such default, provided that Tenant commences such curative action within the initial 30-day period and, thereafter, diligently and continuously proceeds with such curative action using commercially reasonable efforts to so cure such default and (2) subject to the requirements of this subsection, it shall not be deemed an Event of Default hereunder until such additional time has elapsed; or
(iii) if Tenant's interest under this Lease shall be levied upon pursuant to execution or other legal process, or if any petition shall be filed by or against Tenant to declare Tenant a bankrupt or to delay, reduce or modify Tenant's debts or obligations, or if any petition shall be filed or other action taken to reorganize or modify Tenant's capital structure if Tenant be a corporation or other entity and such proceeding is not dismissed or set aside within 60 days after the date of filing (except that such 60-day cure period shall not apply if such filing is made by Tenant or any Affiliate of Tenant); or
(iv) if Tenant shall be declared insolvent according to law; or
(v) if Tenant is a corporation, limited partnership or limited liability company and Tenant shall cease to exist as a corporation in good standing under either the laws of the State of Texas or the state of its formation or if Tenant is a partnership or other entity and shall be dissolved or otherwise liquidated; or
(vi) if Tenant files a voluntary petition in bankruptcy or insolvency, or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable Legal Requirements, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property, or
(vii) if, (1) within 90 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future federal bankruptcy act or any other present or future applicable Legal Requirements, such proceeding shall not have been dismissed, or (2) within 90 days after the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property, without the consent or acquiescence of Tenant, such appointment shall not have been vacated or otherwise discharged, or (3) subject to Section 4.13. any lien, execution or attachment or other similar filing shall be made or issued against Tenant or any of Tenant's property pursuant to which the Leased Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or
(viii) if Tenant shall timely fail to deliver any document required by Section 4.10 or 4.11.
(b) Upon the occurrence of an Event of Default, Landlord, at Landlord's option, may pursue any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇described remedies in addition to all other rights and remedies available at law or in equity:
(ai) Landlord may terminate this Lease and forthwith repossess the Leased Premises and be entitled to recover forthwith as damages a sum of money equal to the total of (1) the cost of recovering the Leased Premises, (2) the unpaid Rent earned at the time of termination, plus interest thereon at the maximum non-usurious rate per annum from the due date until paid, (3) the present value of the balance of the Rent for the remainder of the Term (discounted at 6% per annum) less the fair market rental value of the Leased Premises for said period and (4) any other sum of money and damages owed by Tenant fails to pay Landlord.
(ii) Landlord may terminate Tenant's right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry of detainer suit or otherwise, without demand or notice of any Base Rentkind to Tenant and without terminating this Lease, in which event Landlord may, but shall be under no obligation to do so, relet the same for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord. For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises that may be necessary or convenient, and (1) if Landlord shall fail to relet the Leased Premises, or any additional monthly rent under Section 3.1(2) if the same are relet and a sufficient sum shall not be realized from such reletting after paying the unpaid Rent due hereunder plus interest at the maximum non-usurious rate thereon, hereofthe cost of recovering possession, or any other amount and all of money payable by Tenant hereunder as the costs and when expenses of such rent becomes due decorations, repairs, changes, alterations and payable additions and the expense of such failure continues for more than five reletting (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after if the second new lease has a term that extends beyond the then remaining term of this Lease (not including any unexercised renewal or extension terms), Tenant shall only bear an appropriate share of such failure amounts taking into account, among other things, the term of the new lease versus the remaining term of this Lease and any deficiency between the amount of rent payable under the new lease and the Rent payable under this Lease) and of the collection of the rent accruing therefrom to satisfy the rent provided for in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed paid, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or observed by periods, or if the Leased Premises have been relet, the Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time and Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 5.10(b) from time to time, and that no delivery to or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as and when performance or observance is due and such failure or breach continues for more than ten (10) days after an election on the part of Landlord gives to terminate this Lease unless a written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenantintention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or previous breach; or.
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents Landlord or Landlord's agent may change the door locks of the Leased Premises. In such event, Landlord or its agent shall place a written notice on Tenant's front door stating the name and address or telephone number of the individual or company from which a new key may be obtained. The key may be obtained (1) only during Landlord's regular business hours and (2) only upon payment in full of all delinquent Rent. Landlord may lock out Tenant in the event of any such default without being deemed in any manner guilty of conversion, trespass, eviction, or forcible entry or detainer; without incurring any liability for any damage, claim or cause of action resulting therefrom; and without relinquishing any other right or rights given to Landlord hereunder or by operation of law or in equity. If Landlord shall violate the provisions of this subparagraph, Tenant's sole remedy shall be to recover possession of the Leased Premises and Tenant expressly waives any and all rights and remedies under Section 93.002(g) of the Texas Property Code, as amended. As expressly provided in Section 93.002(h) of the Texas Property Code, the terms and conditions of this subparagraph of the Lease supersede the provisions of said Section 93.002 to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or extent of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering conflict between the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daystwo provisions.
Appears in 1 contract
Sources: Lease Agreement (Transcontinental Gas Pipe Line Corp)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute be a default and breach of this Lease by ▇▇▇▇▇▇Tenant:
(ai) Tenant fails shall fail to pay any monthly installment of Base Rent, Rent or any additional monthly rent under Section 3.1, hereof, Additional Rent or any other amount of money payable by Tenant hereunder as and Rent Adjustment when such rent becomes the same shall be due and payable and such failure continues for more than five ten (510) days after ▇▇▇▇▇▇▇▇ gives written notice thereof from Landlord provided notice shall only be required to Tenantbe given one time each calendar year and a default and breach shall thereafter occur if Tenant fails to pay any such items within ten (10) days after the same shall be due and payable;
(ii) Tenant shall fail to perform or observe any term, condition, covenant or obligation required to be performed or observed by it under this Lease for a period of thirty (30) days after notice thereof from Landlord; provided, however, that after if the second such failure in a calendar yearterm, only the passage of timecondition, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform covenant or breaches any other agreement or covenant of this Lease obligation to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach nature that the same cannot reasonably be cured performed within such period of ten (10) daysthirty-day period, an Event of Default such default shall not exist as long as be deemed to have been cured if Tenant commences with due diligence such performance within said thirty-day period and dispatch thereafter diligently undertakes to complete the curing of such failure or breach same, but in any event completes cure within such period of ten ninety (1090) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; orafter notice from Landlord;
(ciii) Intentionally omitted;
(iv) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, ; or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part substantially all of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇’s assets in, a court on or government authority enters an order, about the Premises or Tenant’s interest in this Lease are attached or levied upon under execution and such order is Tenant does not vacated discharge the same within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenantdays thereafter; or
(ev) This Lease Tenant causes or any estate permits a hazardous condition to exist on the Premises and fails to cure such condition within ten (10) days after notice thereof from Landlord; provided, however, that if the term, condition, covenant or obligation to be performed by Tenant is of such nature that the same cannot reasonably be performed within such ten-day period, such default shall be deemed to have been cured if Tenant hereunder is levied upon under any attachment or execution commences such performance within said ten-day period and such attachment or execution is not vacated thereafter diligently undertakes to complete the same within thirty sixty (3060) daysdays from the original notice to Tenant.
Appears in 1 contract
Sources: Office Lease (MBX Biosciences, Inc.)
Default by Tenant. The occurrence This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it is to be performed as herein set forth, and if any one or more of the following events of default shall occur, to-wit: ("Event a) there be any default on the part of Default") shall constitute a breach Tenant in the observance or performance of any of the covenants, agreements, or conditions of this Lease by ▇▇▇▇▇▇:
on the part of Tenant to be kept and performed, and said default shall continue for a period of fifteen (a) Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (515) days after ▇▇▇▇▇▇▇▇ gives written notice thereof from Landlord to Tenant; provided, however, that after the second Tenant (unless such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach default cannot reasonably be cured within such period of ten fifteen (1015) days, an Event of Default days and Tenant shall not exist as long as Tenant commences with due diligence have commenced to cure said default within said fifteen (15) days and dispatch continues diligently to pursue the curing of such failure the same), or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(cb) Tenant (i) files, or consents by answer or otherwise to the filing against it of, shall file a petition for relief or reorganization or arrangement or any other petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for liquidation itself under any present or to take advantage of any bankruptcyfuture federal, insolvency state or other debtors' relief statute, law of any jurisdictionor regulation, (ii) makes or make an assignment for the benefit of its creditors, or (iiic) consents to the appointment of a custodianany trustee, receiver, trustee receiver or other officer with similar powers of liquidator or Tenant or of all or any substantial part of Tenant's property; or
(d) Without consent its properties or of the leased premises shall be appointed in any action, suit or proceeding by ▇▇▇▇▇▇, a court or government authority enters an order, against Tenant and such order is proceeding or action shall not vacated have been dismissed within thirty (30) daysdays after such appointment, or (id) appointing a custodianthe leasehold estate hereby created shall be taken on execution or by other process of law, receiveror (e) Tenant shall admit in writing its inability to pay its obligations generally as they become due, trustee or other officer (f) Tenant shall vacate or abandon the leased premises, then and in any of said cases, Landlord at its option may terminate this lease and re-enter upon the leased premises and take possession thereof with similar powers full right to ▇▇▇ for and collect all sums or amounts with respect to which Tenant may be in default and accrued up to the time of such entry, including damages to Landlord by reason of any breach or with respect to any substantial default on the part of Tenant's property, or Landlord may, if it elects to do so, bring suit for the collection of such rents and damages without entering into possession of the leased premises or voiding this Lease. In addition to, but not in limitation of, any of the remedies set forth in this lease or given to Landlord by law or in equity, Landlord shall also have the right and option, in the event of any default by Tenant under this lease and the continuance of such default after the period of notice above provided, to retake possession of the leased premises from Tenant without process of law, by summary proceeding or otherwise, and it is agreed that the commencement and prosecution of any action by Landlord in forcible entry and detainer, ejectment or otherwise, or any execution of any judgement or decree obtained in any action to recover possession of the leased premises, shall not be construed as an election to terminate this lease unless Landlord expressly exercises its option hereinabove provided to declare the term hereof ended, whether, or not such entry or re-entry be had or taken under summary proceedings or otherwise, and shall not be deemed to have absolved or discharged Tenant from any of its obligations and liabilities for the remainder of the term of this lease, and Tenant shall, notwithstanding such entry or re-entry, continue to be liable for the payment of the rents and performance of the other covenants and conditions hereof and shall pay to Landlord all monthly deficits after any such re-entry in monthly installments as the amounts of such deficits from time to time are ascertained and, in the event of any such ouster, Landlord rents or leases the leased premises to some other person, firm or corporation (iiwhether for a term greater, less than or equal to the unexpired portion of the term created hereunder) constituting for an order aggregate rent during the portion of such new lease co-extensive with the term created hereunder which is less than the rent and other charges which Tenant would pay hereunder for relief such period, Landlord may immediately upon the making of such new lease of the creation of such new tenancy ▇▇▇ for and recover the difference between the aggregate rental provided for in said new lease for the portion of the term co-extensive with the term created hereunder and the rent which Tenant would pay hereunder for such period, together with any expenses to which Landlord may be put for brokerage commission, placing the leased premises in tenantable conditions or approving otherwise. If such new lease or tenancy is made for shorter term than the balance of the term of this lease, any such action brought by Landlord to collect the deficit for that period shall not bar Landlord from thereafter suing for any loss accruing during the balance of the unexpired term of this Lease. If Tenant at any time shall fail to pay any taxes, assessments, or liens, or to make any payment or perform any act required by this Lease to be made or performed by it, Landlord, without waiving or releasing Tenant from any obligation or default under this lease, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the account and at the expense of Tenant. All sums so paid by Landlord and all costs and expenses so incurred shall accrue interest at the rate of eight percent (8%) from the date of payment or incurring thereof by Landlord and shall constitute additional rent payable by Tenant under this lease and shall be paid by Tenant to Landlord upon demand. All other sums payable by Tenant to Landlord under this lease, if not paid when due, shall accrue interest at the rate of eight percent (8%) from their due date until paid, said interest to be so much additional rent under this lease and shall be paid to Landlord by Tenant upon demand. All rights and remedies of Landlord herein enumerated shall be cumulative, and none shall exclude any other remedies allowed at law or in equity. Tenant agrees to pay a petition for relief or reorganization or arrangement reasonable attorney's fee and all costs if Landlord, in its sole discretion, employs an attorney to collect any rent, additional rent, or any other petition in bankruptcy or for liquidation sums payable under this Lease agreement or to take advantage enforce any covenants, agreements, or conditions on the part of the Tenant to be kept and performed; and Tenant expressly waives all exemptions secured to the Tenant under the laws of the State of South Carolina or of any bankruptcy, insolvency or other debtors' relief law State of the United States as against the collection of any jurisdiction, debt herein or (iii) ordering the dissolution, winding-up hereby incurred or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) dayssecured.
Appears in 1 contract
Sources: Lease (Airgate Wireless Inc)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of default by Tenant under this Lease by ▇▇▇▇▇▇:
Lease: (a) Tenant fails to timely pay any installment of Base Rent, or any additional monthly rent Tenant's Share, payments required under Section 3.14.3 above, hereoflate fees, interest or the utility payments after they are due (note, the payment of the Base Rent may be made within the 1st to the 10th day of the applicable month as provided in Section 3 above, any Base Rent paid after those periods shall be an event of default, and Tenant’s Share and the other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five payments required under this Lease shall be paid within three (53) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, of the 1st day of each month and any payment later than that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event event of Default in the same calendar yeardefault); or
(b) Tenant fails to perform or breaches timely pay any other agreement or covenant of amount due under this Lease or to perform any other non-monetary obligation to be performed or observed by Tenant as and when performance or observance is due under this Lease, and such failure or breach continues for more than ten to perform the non-monetary obligation is not cured within thirty (1030) days after Landlord gives written notice thereof is given to Tenant; provided(c) Tenant's cessation of its normal business operations in the Premises or if Tenant vacates, however, that if, by abandons or lets the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such Premises go dark for a period of ten seven (107) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of unless such failure vacation or breach within such period of ten (10) days andabandonment is caused by earthquake, having so commencedfire, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) filesflood, or consents by answer other acts of God; (d) Tenant's action, permission or otherwise to the filing against it of, a petition for relief or reorganization or arrangement authorization of itself or any other person to do anything which creates a lien upon the Premises which is not paid, bonded over or discharged promptly; (e) Tenant files a petition in bankruptcy, becomes insolvent, has taken against Tenant in any court, pursuant to state or federal statute, a petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law for reorganization or appointment of any jurisdictiona receiver or trustee, which involuntary petition is not dismissed within sixty (ii60) makes days, petitions for or enters into an assignment arrangement for the benefit of its creditors, creditors or (iii) consents suffers this Lease to the appointment become subject to a writ of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an orderexecution, and such order writ is not vacated released within thirty (30) days, ; or (if) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage breach of any bankruptcy, insolvency terms or other debtors' relief law provisions of any jurisdiction, or (iii) ordering this Lease subject to the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution express notice and such attachment or execution is not vacated within thirty (30) dayscure periods provided in this Section.
Appears in 1 contract
Sources: Lease Agreement (SpectrumDNA, Inc.)
Default by Tenant. (a) The occurrence of any one or more of the following events shall be deemed to be events of default by Tenant under this Lease (hereinafter called an "Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:):
(a1) Tenant fails shall fail to timely pay any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable Rent and such failure continues shall continue for more than five a period of ten (510) days after ▇▇▇▇▇▇▇▇ gives written notice thereof of such default shall have been given to Tenant; provided, however, that Landlord shall not be obligated to give Tenant written notice of its failure to pay Rent more than two times in any 12-month period and after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in shall occur automatically upon Tenant’s failure to timely pay any Rent within such 12-month period without the same calendar year; orrequirement of any further notice from Landlord;
(b2) Tenant fails shall fail to perform comply with any terms, provisions or breaches covenants of this Lease or any other agreement or covenant between Landlord and Tenant not requiring the payment of this Lease to be performed or observed by Tenant as and when performance or observance is due Rent, and such failure or breach continues shall continue for more than ten a period of thirty (1030) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenantfailure is delivered to Tenant or, if such failure or breach cannot reasonably be cured within such thirty (30) day period, Tenant shall fail to commence to cure such failure within such thirty (30) day period and/or shall thereafter fail to prosecute such cure diligently and continuously to completion within sixty (60) days of ten the date of Landlord's notice of default;
(103) daysTenant takes any action to, or notifies Landlord that Tenant intends to, file a petition under any section or chapter of the United States Bankruptcy Code, as amended from time to time, or under any similar Law of the United States or any state thereof; or a petition shall be filed against Tenant or any Guarantor under any such statute and shall not be dismissed within 90 days thereafter; or
(4) a receiver or trustee shall be appointed for Tenant's leasehold interest in the Premises or for all or a substantial part of the assets of Tenant
(b) Upon the occurrence of any Event of Default, Landlord may, at its option and without further notice to Tenant and without judicial process, in addition to all other remedies given hereunder or by Law or equity, do any one or more of the following: (1) terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises to Landlord; (2) enter upon and take possession of the Premises and expel or remove Tenant therefrom, with or without having terminated this Lease; (3) apply all or any part of the Security Deposit to cure such Event of Default; (4) change or re-key all locks to entrances to the Premises, and Landlord shall have no obligation to give Tenant a new key to the Premises until such Event of Default is cured; and (5) remove from the Premises any furniture, fixtures, equipment or other personal property of Tenant, without liability for trespass or conversion, and store such items either in the Complex or elsewhere at the sole cost of Tenant and without liability to Tenant. Any of such furniture, fixtures, equipment or personal property not claimed within thirty (30) days from the date of removal shall be deemed abandoned.
(c) Exercise by Landlord of any one or more remedies hereunder shall not constitute forfeiture or an acceptance of surrender of the Premises by Tenant, it being understood that such surrender can be effected only by the written agreement of Landlord and Tenant.
(d) If Landlord terminates this Lease by reason of an Event of Default Default, Tenant shall pay to Landlord the sum of (1) the cost of recovering the Premises, (2) the cost of repairing any damage to the Premises, (3) any amounts owed by Tenant under this Lease that have accrued but not exist as long as been paid, and (4) any other damages or relief which Landlord may be entitled to at law or in equity. If Tenant commences has prepaid any Base Rental on this Lease, Landlord may apply such prepaid Base Rental against costs, expenses and damages suffered or incurred by Landlord in connection with due diligence Tenant’s default and dispatch shall refund to Tenant the curing balance, if any, of such failure prepaid Base Rental.
(e) If Tenant should fail to make any payment, perform any obligation, or breach cure any default hereunder within such period of ten (10) days andafter receipt of written notice thereof, having Landlord, without obligation to do so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of without thereby waiving such failure or breachdefault, may make such payment, perform such obligation, and/or remedy such other default for the account of Tenant (and enter the Premises for such purpose), and Tenant shall, within ten (10) days following written demand, pay all costs, expenses and disbursements (including attorneys' fees) incurred by Landlord in taking such remedial action, plus, at the option of Landlord, interest thereon at the Default Rate.
(f) If an Event of Default occurs and continues beyond applicable notice, grace and cure periods, Landlord agrees to comply with its obligations under Texas law to mitigate damages. Tenant agrees that such obligations will be satisfied if Landlord undertakes to lease the Premises to another tenant (a "Substitute Tenant") in accordance with the following criteria: (a) Landlord will have no obligation to solicit or entertain negotiations with any other prospective tenants for the Premises until Landlord obtains full and complete possession of the Premises including, without limitation, the final and unappealable legal right to relet the Premises free of any claim of Tenant; or
(b) Landlord will not be obligated to lease or show the Premises on a priority basis, or offer the Premises to a prospective tenant when other space in the Building suitable for the prospective tenant's use is (or soon will be) available; (c) Landlord will not be obligated to lease the Premises to a Substitute Tenant for a Base Rental less than the current fair market Base Rental then prevailing for similar uses in comparable buildings in the same market area as the Building, nor will Landlord be obligated to enter into a new lease under other terms and conditions that are unacceptable to Landlord under Landlord's then current leasing policies for comparable space in the Building; (d) Landlord will not be obligated to enter into a lease with a Substitute Tenant whose use would (i) filesviolate any restriction, covenant, or consents by answer or otherwise to requirement contained in the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage lease of any bankruptcy, insolvency or other debtors' relief law another tenant of any jurisdiction, the Building; (ii) makes an assignment for adversely affect the benefit reputation of its creditors, the Building; or (iii) consents be incompatible with other uses of the Building; (e) Landlord will not be obligated to enter into a lease with any proposed Substitute Tenant that does not have, in Landlord's reasonable opinion, sufficient financial resources to operate the appointment Premises in a first class manner; and (f) Landlord will not be required to expend any amount of money to alter, remodel, or otherwise make the Premises suitable for use by a proposed Substitute Tenant unless: (i) Tenant pays any such sum to Landlord in advance of Landlord's execution of a custodian, receiver, trustee lease with the proposed Substitute Tenant (which payment will not be in lieu of any damages or other officer with similar powers of Tenant or of any substantial part sums to which Landlord may be entitled as a result of Tenant's propertydefault under this Lease); or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting Landlord, in Landlord's reasonable discretion, determines that any such expenditure is financially justified in connection with entering into a lease with the prospective Substitute Tenant; and (f) Tenant hereby waives any right to assert, claim or allege that Landlord has not fulfilled its duty to mitigate damages as a result of an order Event of Default if Landlord’s efforts to mitigate are in compliance with the provisions of this Section 27 (g).
(g) Tenant will reimburse and compensate Landlord on demand and as Additional Rent for any actual loss Landlord incurs in connection with, resulting from or related to any breach or default of Tenant under this Lease, regardless of whether the breach or default constitutes an Event of Default, and regardless of whether suit is commenced or judgment is entered. Such loss includes all reasonable legal fees, costs and expenses (including paralegal fees, expert fees, and other professional fees and expenses) Landlord incurs investigating, negotiating, settling or enforcing any of Landlord’s rights or remedies or otherwise protecting Landlord’s interests under this Lease. In addition to the foregoing, Landlord is entitled to reimbursement of all of Landlord’s fees, expenses and damages, including, but not limited to, reasonable attorneys’ fees and paralegal and other professional fees and expenses, Landlord incurs in connection with any bankruptcy or insolvency proceeding involving Tenant including, without limitation, any proceeding under any chapter of the Bankruptcy Code; by exercising and advocating rights under Section 365 of the Bankruptcy Code; by proposing a plan of reorganization and objecting to competing plans; and by filing motions for relief from stay. Such fees and expenses are payable on demand, or, in any event, upon assumption or approving rejection of this Lease in bankruptcy. Subject to Section 31 below, in no event shall Tenant be liable to Landlord for consequential, special or punitive damages by reason of a petition for relief failure to perform (or reorganization a default) by Tenant under this Lease.
(h) Tenant waives and releases all Claims, Tenant may have resulting from Landlord’s re-entry and taking possession of the Premises pursuant to this Section 27 by any lawful means and removing, storing or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation disposing of Tenant; or
’s property as permitted under this Lease, regardless of whether this Lease is terminated and, to the fullest extent allowable under the Laws, Tenant releases and will indemnify, protect, defend (ewith counsel reasonably acceptable to Landlord) This Lease and hold harmless Landlord and the Landlord Related Parties from and against any and all Claims arising therefrom. No such re-entry is to be considered or any estate of Tenant hereunder construed as a forcible entry by Landlord. THIS INDEMNITY PROVISION IS INTENDED TO INDEMNIFY LANDLORD, LANDLORD RELATED PARTIES AND THEIR RESPECTIVE AGENTS AGAINST THE CONSEQUENCES OF THEIR OWN NEGLIGENCE OR FAULT WHEN LANDLORD OR ITS AGENTS ARE JOINTLY, COMPARATIVELY, OR CONCURRENTLY NEGLIGENT WITH TENANT (BUT NOT WHEN THE NEGLIGENCE OR FAULT OF LANDLORD, LANDLORD RELATED PARTIES OR THEIR AGENTS IS THE SOLE BASIS OF THE CLAIM). No such re-entry is levied upon under any attachment to be considered or execution and such attachment or execution is not vacated within thirty (30) daysconstrued as a forcible entry by Landlord.
Appears in 1 contract
Default by Tenant. The occurrence of any one or more (a) Any of the following events ("Event of Default") shall constitute a breach events of default under this Lease by Lease:
(i) T▇▇▇▇▇▇:
(a) Tenant fails ’s failure to pay any Base Rentrent or other sum payable hereunder when due;
(ii) Tenant’s failure to perform any of the other terms, covenants, agreements or any additional monthly rent under Section 3.1conditions contained herein (other than Tenant’s breach of Paragraph 12(a) or Paragraph 17 as to which no cure period shall apply) and, hereofif the default is curable, or any other amount the continuation of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues default for more than five a period of thirty (530) days after notice by Landlord or beyond the time reasonably necessary for cure if the default is of the nature to require more than thirty (30) days to remedy, but in any event, within sixty (60) days following L▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written ’s notice, shall be required to establish an Event of Default provided that if T▇▇▇▇▇ has defaulted in the performance of the same calendar year; orobligation more than one time in any twelve-month period and notice of such default has been given by Landlord in such instance, no cure period shall thereafter be applicable hereunder;
(biii) Tenant fails to perform the bankruptcy or breaches insolvency of Tenant, any other agreement or covenant transfer by T▇▇▇▇▇ in fraud of this Lease to be performed or observed creditors, assignment by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or the commencement of any proceedings of any kind by or against Tenant under any provision of the Federal Bankruptcy Act or under any other insolvency, bankruptcy or reorganization act unless, in the event any such proceedings are involuntary, Tenant is discharged from the same within sixty (iii60) consents to days thereafter; the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any receiver for a substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation assets of Tenant; or
(e) This or the levy upon this Lease or any estate of Tenant hereunder is levied upon under by any attachment or execution execution; or
(iv) the abandonment of the Premises.
(b) Upon the occurrence of any event of default by Tenant hereunder, Landlord may, at its option and without any further notice or demand, in addition to any other rights and remedies given hereunder or by law, do any of the following:
(i) Landlord shall have the right, so long as such attachment default continues, to give notice of termination to Tenant, and on the date specified in such notice this Lease shall terminate.
(ii) In the event of any such termination of this Lease, Landlord may then or execution is at any time thereafter, reenter the Premises and remove therefrom all persons and property and again repossess and enjoy the Premises, without prejudice to any other remedies that Landlord may have by reason of Tenant’s default or of such termination.
(iii) In the event of any such termination of this Lease, and in addition to any other rights and remedies Landlord may have, Landlord shall have all of the rights and remedies of a landlord provided by Section 1951.2 of the California Civil Code. The amount of damages which Landlord may recover in event of such termination shall include, without limitation, (i) the worth at the time of award (computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent) of the amount by which the unpaid rent for balance of the term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided, (ii) all legal expenses and other related costs incurred by Landlord following Tenant’s default, (iii) all costs incurred by Landlord in restoring the Premises to good order and condition, or in remodeling, renovating or otherwise preparing the Premises for reletting, and (iv) all costs (including, without limitation, any brokerage commissions) incurred by Landlord in reletting the Premises.
(iv) Landlord shall also have the remedy described in California Civil Code Section 1951.4 (lessor may continue the lease in effect after l▇▇▇▇▇’s breach and abandonment and recover rent as it becomes due, if l▇▇▇▇▇ has right to sublet or assign, subject only to reasonable limitations).
(v) For the purpose of determining the unpaid rent in the event of a termination of this Lease, or the rent due hereunder in the event of a reletting of the Premises, the monthly rent reserved in this Lease shall be deemed to be the sum of the rental due under Paragraph 3 above and the amounts last payable by Tenant pursuant to Paragraph 4 above and any “free rent” (“free rent”) or rent waived or abated by Landlord as an inducement for Tenant to enter into this Lease.
(vi) Landlord’s acceptance of payment from Tenant of less than the amount of rent then due shall not vacated within thirty constitute a waiver of any rights of Landlord or Tenant including, without limitation, any right of Landlord to recover possession of the Premises.
(30vii) daysAfter terminating this Lease, Landlord may remove any and all personal property located in the Premises and place such property in a public or private warehouse or elsewhere at the sole cost and expense of Tenant.
(c) Even though T▇▇▇▇▇ has breached this Lease and abandoned the Premises, this Lease shall continue in effect for so long as Landlord does not terminate Tenant’s right to possession, and Landlord may enforce all its rights and remedies under this Lease, including the right to recover rental as it becomes due under this Lease. Acts of maintenance or preservation, efforts to relet the Premises, or the appointment of a receiver upon initiative of Landlord to protect Landlord’s interest under this Lease, shall not constitute a termination of Tenant’s right to possession.
(d) Tenant hereby waives all rights under California Code of Civil Procedure Section 1179 and California Civil Code Section 3275 providing for relief from forfeiture, and any other right now or hereafter existing to redeem the Premises or reinstate this Lease after termination pursuant to this Paragraph 13 or by order or judgment of any court or by any legal process.
(e) Landlord and Tenant hereby waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereby against the other on any matters not relating to personal injury or property damage but otherwise arising out of or in any way connected with this Lease, the relationship of Landlord and Tenant, T▇▇▇▇▇’s use or occupancy of the Premises, and any statutory remedy.
(f) The remedies provided for in this Lease are in addition to any other remedies available to Landlord at law or in equity, by statute or otherwise.
Appears in 1 contract
Sources: Lease Agreement (St Francis Medical Technologies Inc)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:
(a) Tenant fails 30.1 Upon Tenant's failure to pay any Base Rentinstallment of Basic Rental, or any additional monthly rent under Section 3.1, hereof, Additional Rent or any other amount payment under this Lease when due, or if Tenant shall fail to observe and perform any of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five the other conditions, agreements or provisions of this Lease, it shall be lawful thereupon, after ten (510) days after ▇▇▇▇▇▇▇▇ gives written notice thereof as to monetary default (subsequent to the grace period set forth in Paragraph 3.1 above) and thirty (30) days notice as to any other default (unless Tenant shall have remedied the failure within said ten (10) or thirty (30) day period as the case may be or shall have commenced in good faith within said ten (10) or thirty (30) day period as the case may be to remedy said failure and diligently continues thereafter until said failure is remedied) for Landlord to: (1) re-enter and repossess the Premises, to remove all persons therefrom and to take exclusive possession of and remove all property therefrom; and/or (2) perform on behalf of and at the expense of Tenant; , any obligation of Tenant under this Lease which Tenant has failed to perform, provided, however, that after Landlord may exercise the second remedy described in this clause without a default by, or notice to Tenant if Landlord, in its good faith judgment, believes it would suffer material or substantial damage by failure to take rapid action or if the unperformed obligation of Tenant constituted an emergency. Upon any occurrence of default by Tenant hereunder, beyond any applicable cure period, any and all rights of Tenant as a tenant shall, at the option of Landlord, immediately cease and terminate. Nothing provided herein shall be deemed to obligate or require Landlord to take any action or do any thing for or on behalf of Tenant, or otherwise. The failure on the part of the Landlord to re-enter or repossess the Premises, or to exercise any of its fights hereunder upon any default shall not be deemed a waiver of any of the terms and conditions of this Lease, and shall not preclude said Landlord from the exercise of any of such failure in a calendar year, only the passage of timerights upon any subsequent occurring default or defaults.
30.2 Any reasonable costs or expenses incurred by Landlord (including, but no further written noticenot limited to, attorney's fees) in enforcing any of its rights or remedies under this Lease shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease deemed to be performed or observed Additional Rental and shall be paid to Landlord by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysdemand.
Appears in 1 contract
Default by Tenant. The occurrence This Lease is made upon the condition that the Tenant shall punctually and faithfully perform all of the covenants and agreements by it to be performed as herein set forth, and if any one or more of the following events ("Event of Default") or default shall constitute a breach of this Lease by ▇▇▇▇▇▇occur, to wit:
(a) Tenant fails to pay any Base RentAny installments of rent, or any additional monthly rent under Section 3.1rent, hereoftaxes, or any other amount of money payable sums required to be paid by Tenant hereunder as hereunder, or any part thereof, shall at any time be in arrears and when such rent becomes due and payable and such failure continues unpaid for more than five (5) days after written demand therefor, or
(b) There be any default on the part of Tenant in the observance or performance of any of the other covenants, agreements, or conditions of this Lease on the part of Tenant to be kept and performed, and said default shall continue for a period of fifteen (15) days after written notice thereof from Landlord to Tenant (unless such default cannot reasonably be cured within fifteen (15) days and Tenant shall have commenced to cure said default within said fifteen (15) days and continues diligently to pursue the curing of same), or
(c) Tenant shall file a petition in bankruptcy or be adjudicated a bankrupt, or file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation, or make an assignment for the benefit of creditors, or
(d) Any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties or of the demised premises shall be appointed in any action, suit or proceeding by or against Tenant and such proceeding or action shall not have been dismissed within thirty (30) days after such appointment, or
(e) The Leasehold estate hereby created shall be taken on execution or by other process of law, or
(f) Tenant shall admit in writing its inability to pay its obligations generally as they become due, or
(g) Tenant shall vacate or abandon the demised premises, then and in any of said cases, Landlord at its option may terminate this Lease and re-enter upon the demised premises and take possession thereof with full right to sue for and collect all sums or amounts with respect to which Tenant may then be in default and accrued up to the time of such entry, including damages to Landlord by reason of any breach or default on the part of Tenant, or Landlord may, if it elects to do so, bring suit for the collection of such rents and damages without entering into possession of the demised premises or voiding this Lease.
(h) Should Tenant fail to cure the Default within the allotted fifteen (15) days, as provided in this Lease, Landlord may immediately demand all arrearages of Rent and all other sums due and owing by Tenant to Landlord. Landlord may also demand a final settlement and may accelerate all future Rent and other future monetary obligations owed under the remainder of the Lease. In addition to, but not in limitation of, any of the remedies set forth in this Lease or given to Landlord by law or in equity, Landlord shall also have the right and option, in the event of any default by Tenant under this Lease and the continuance of such default after the period of notice above provided, to retake possession of the demised premises from Tenant without process of law, by summary proceedings or otherwise, and it is agreed that the commencement and prosecution of any action by Landlord in forcible entry and detainer, ejectment or otherwise, or any execution of any judgment or decree obtained in any action to recover possession of the demised premises, shall not be construed as an election to terminate this Lease unless Landlord expressly exercises its option hereinabove provided to declare the term hereof ended, whether or not such entry or re-entry be had or taken under summary proceedings or otherwise, and shall not be deemed to have absolved or discharged Tenant from any of its obligations and liabilities for the remainder of the term of this Lease, and Tenant shall, notwithstanding such entry or re-entry, continue to be liable for the payment of the rents and the performance of the other covenants and conditions hereof and shall pay to Landlord all monthly deficits after such re-entry in monthly installments as the amounts of such deficits from time to time are ascertained and, in the event of any such ouster, Landlord rents or leases the demised premises to some other person, firm or corporation (whether for a term greater, less than or equal to the unexpired portion of the term created hereunder) for an aggregate rent during the portion of such new lease co-extensive with the term created hereunder which is less than the rent and other charges which T▇▇▇▇▇ would pay hereunder for such period. Landlord may immediately upon the making of such new lease or the creation of such new tenancy sue for and recover the differences between the aggregate rental provided for in said new lease for the portion of the term co-extensive with the term created hereunder and the rent which T▇▇▇▇▇ would pay hereunder for such period, together with any expense to which Landlord may be put for brokerage commission, placing the demised premises in tenantable condition or otherwise. If such new lease or tenancy is made for shorter term than the balance of the term of this Lease, any such action brought by Landlord to collect the deficit for that period shall not bar Landlord from thereafter suing for any loss accruing during the balance of the unexpired term of this Lease. If Tenant at any time shall fail to pay any taxes, assessments, or liens, or to make any payment or perform any act required by this Lease to be made or performed by it, Landlord, without waiving or releasing Tenant from any obligation or default under this Lease, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the account and at the expense of Tenant. All sums so paid by L▇▇▇▇▇▇▇ gives written notice and all costs and expenses so incurred shall accrue interest at the rate of eighteen percent (1 8%) per annum from the date of payment or incurring thereof by Landlord and shall constitute additional rent payable by Tenant under this Lease and shall be paid by Tenant to Tenant; providedLandlord upon demand. All other sums payable by Tenant to Landlord under this Lease, however, that after the second such failure in a calendar year, only the passage of time, but no further written noticeif not paid when due, shall accrue interest at the rate of eighteen percent (18%) per annum from their due date until paid, said interest to be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of so much additional rent under this Lease and shall be paid to be performed or observed Landlord by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysdemand.
Appears in 1 contract
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a material default and breach of this Lease by ▇▇▇▇▇▇:
Tenant: (ai) the abandonment of the Premises by Tenant fails or the vacating of the Premises for more than thirty (30) consecutive days; (ii) the failure by Tenant to pay make any Base Rent, or any additional monthly rent under Section 3.1, hereof, payment of Rent or any other amount of money payable payment required to be made by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than hereunder, within five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof of date due; (iii) the failure by Tenant to Tenantobserve or perform any of the other covenants, conditions or provisions of the Lease, where such failure shall continue for a period of twenty (20) days; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, if more than twenty (20) days are reasonably required for its cure then Tenant shall not be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease deemed to be performed or observed in default if Tenant commences such cure within said 20-day period and thereafter diligently prosecutes such cure to completion; (iv) the making by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency general assignment or other debtors' relief law of any jurisdiction, (ii) makes an assignment general arrangement for the benefit of its creditors; (v) the filing by or against Tenant of a petition to have Tenant adjudged bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, or in the case of a petition filed against Tenant, the same is dismissed within sixty (iii60) consents to days); (vi) the appointment of a custodian, receiver, trustee or other officer with similar powers receiver to take possession of Tenant or of any substantial part substantially all of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇assets located at the Premises or of Tenant's interest in the Lease, a court or government authority enters an order, and such order where possession is not vacated restored to Tenant within thirty (30) days; (vii) the attachment, (i) appointing a custodian, receiver, trustee execution or other officer with similar powers with respect to Tenant or with respect to any substantial part judicial seizure of substantially all of Tenant's property, assets located at the Premises or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and 's interest in this Lease, where such attachment or execution seizure is not vacated discharged within thirty (30) days. The above notice periods may, at the election of Landlord, run concurrently with any statutorily required notice periods.
Appears in 1 contract
Default by Tenant. The If (i) default shall be made in the payment of the Rent or in the payment of any other sum required to be paid by Tenant under this Lease and such default shall continue for ten (10) business days after Tenant's receipt of written notice from Landlord, (ii) Tenant shall fail to perform in all material respects any of the other covenants which Tenant is required to perform and such default shall continue for thirty (30) days after written notice to Tenant from Landlord, provided, however, if such default cannot be reasonably cured within said thirty (30) day period Tenant shall not be in default if Tenant promptly commences to cure the default and thereafter diligently continues such efforts to cure the default, (iii) Tenant shall make a general assignment for the benefit of its creditors or shall file a voluntary petition for bankruptcy or other reorganization, arrangement, conservation, liquidation, dissolution or similar relief, or (iv) any proceeding is filed against Tenant seeking any relief mentioned or similar to that referred to in (iii) above and said proceeding is not discharged within thirty (30) days of the filing thereof or Tenant consents, acquiesces, admits or otherwise approves or agrees to any such proceeding or such relief, then Landlord may treat the occurrence of any one or more of the following foregoing events ("Event of Default") shall constitute as a breach of this Lease, and thereupon at its option may, with notice to Tenant, may terminate this Lease by ▇▇▇▇▇▇:
(a) Tenant fails to pay and the Term created hereby and recover any Base Rent, or any additional monthly rent under Section 3.1, hereof, or any other amount sum of money payable or damages owed by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.Landlord,
Appears in 1 contract
Sources: Lease (Buckeye Ventures, Inc.)
Default by Tenant. The occurrence 10.1 An “Event of Default” will be considered to have occurred when any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇happens:
(a) the Tenant fails to pay any Base Rent, the Rent hereby reserved or any additional monthly rent under Section 3.1part thereof on the day appointed for payment thereof, hereof, or any other amount of money payable by Tenant hereunder as and when does not cure such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than default within ten (10) days after Landlord gives receipt of written notice thereof from the Landlord;
(b) the Tenant shall have breached or failed to Tenant; providedcomply with any of its covenants and agreements contained in this Lease (save for non-payment of Rent) and shall have failed to commence diligently to remedy such breach or non-compliance within fifteen (15) business days and failed to have fully remedied the breach or non-compliance within thirty (30) days (or such longer period as the Landlord may reasonably determine, however, that if, by having regard to the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10the default) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch after written notice thereof given by the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes Landlord to the curing of such failure or breach; orTenant;
(c) the Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or shall make any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, creditors or (iii) consents to become bankrupt or insolvent or take the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or benefit of any substantial part of Tenant's property; oract now or hereinafter in force for bankrupt or insolvent debtors;
(d) Without consent by ▇▇▇▇▇▇, the Tenant is a court or government authority enters an order, corporation and such any order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee shall be made for the winding up of the Tenant or other officer with similar powers with respect to Tenant or with respect to any substantial part termination of the corporate existence of the Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or;
(e) This a trustee, receiver, interim receiver, receiver and manager, custodian or liquidator is appointed for the business, property, affairs, or revenue of the Tenant;
(f) this Lease or any estate of the Tenant’s assets on the Leased Premises are taken or seized under writ of execution, an assignment, pledge, charge, debenture or other security instrument.
10.2 Each time that an Event of Default occurs, in addition to the other rights and recourses which are granted to the Landlord pursuant to the Lease or at law, the Landlord shall have the following rights and remedies, which shall be cumulative and not alternative:
(a) the right to terminate the Lease by notice to the Tenant;
(b) the right to remedy or attempt to remedy, at the expense of the Tenant hereunder any default of the Tenant pursuant to the Lease on behalf of the Tenant and to enter the Leased Premises for such purposes;
(c) the right to recover from the Tenant all damages suffered as well as all expenses incurred by the Landlord pursuant to the default of the Tenant; and
(d) if the resiliation of the Lease results from or is levied upon under any attachment based on the bankruptcy or execution and such attachment or execution is not vacated within thirty the insolvency, the right to recover from the Tenant the full amount of Rent for a period of three (303) daysmonths prior to the bankruptcy as well as Rent for the three (3) months following.
Appears in 1 contract
Sources: Lease Agreement (Lsi Industries Inc)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a material default and breach of this Lease by ▇▇▇▇▇▇:
Tenant: (ai) the abandonment of the Premises by Tenant fails or the vacating of the Premises for more than thirty (30) consecutive days; (ii) the failure by Tenant to pay make any Base Rent, or any additional monthly rent under Section 3.1, hereof, payment of Rent or any other amount of money payable payment required to be made by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than hereunder, within five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof of date due; (iii) the failure by Tenant to Tenantobserve or perform any of the other covenants, conditions or provisions of the Lease, where such failure shall continue for a period of twenty (20) days; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, if more than twenty (20) days are reasonably required for its cure then Tenant shall not be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease deemed to be performed or observed in default if Tenant commences such cure within said 20-day period and thereafter diligently prosecutes such cure to completion; (iv) the making by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency general assignment or other debtors' relief law of any jurisdiction, (ii) makes an assignment general arrangement for the benefit of its creditors; (v) the filing by or against Tenant of a petition to have Tenant adjudged bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, or in the case of a petition filed against Tenant, the same is dismissed within sixty (iii60) consents to days); (vi) the appointment of a custodian, receiver, trustee or other officer with similar powers receiver to take possession of Tenant or of any substantial part substantially all of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇assets located at the Premises or of Tenant's interest in the Lease, a court or government authority enters an order, and such order where possession is not vacated restored to Tenant within thirty (30) days; or (vii) the attachment, (i) appointing a custodian, receiver, trustee execution or other officer with similar powers with respect to Tenant or with respect to any substantial part judicial seizure of substantially all of Tenant's property, assets located at the Premises or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and 's interest in this Lease, where such attachment or execution seizure is not vacated discharged within thirty (30) days. The above notice periods may, at the election of Landlord, run concurrently with any statutorily required notice periods.
Appears in 1 contract
Sources: Lease Addendum (Bsquare Corp /Wa)
Default by Tenant. The occurrence of any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇Tenant:
(a) Tenant fails to pay any Base Rent, or any additional monthly rent under Section 3.1, section 3.1 hereof, or any additional rent or other amount of money or charge payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ Landlord gives written notice thereof to Tenant; , provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten twenty (1020) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten twenty (1020) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten twenty (1020) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇Tenant, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days; or
(f) Tenant abandons the Premises.
Appears in 1 contract
Sources: Sublease (Build a Bear Workshop Inc)
Default by Tenant. The occurrence There shall exist an event of any one or more of the following events default ("herein called an “Event of Default"”) shall constitute a breach of under this Lease by ▇▇▇▇▇▇Agreement if:
(aA) Tenant fails shall fail to pay any installment of Base Rent, Rent required to be paid by Tenant within 10 days after the same shall become due for payment; or
(B) Tenant shall fail in any material respect to perform or any additional monthly rent under Section 3.1, hereof, or comply with any other amount obligation of money payable by Tenant hereunder as and when such rent becomes due and payable under this Lease Agreement, and such failure continues for more than five (5) is not performed or corrected within 30 days after ▇▇▇▇notice of such default from Landlord (or, if such failure is not capable of being performed or corrected within such 30-day period, if Tenant shall not commence the correction of such default within 30 days after notice of such default from Landlord and proceed with due diligence to complete such correction within a reasonable time, but in no event longer than 90 days from the notice of such default); or
(C) Tenant, ATSG, or ▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in shall make a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an general assignment for the benefit of its creditors, or (iii) consents to if Tenant’s interest in the appointment of a custodian, receiver, trustee Premises is sold upon execution or other officer with similar powers of Tenant or of any substantial part of Tenant's propertylegal process; or
(dD) Without consent Tenant shall suffer a receiver to be appointed in any action or proceeding by ▇▇▇▇▇▇, a court or government authority enters an orderagainst Tenant, and such order appointment is not vacated stayed or discharged within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property60 days after the commencement thereof, or (ii) constituting an order for relief or approving if Tenant is a petition for relief or reorganization or arrangement or debtor in any other petition in bankruptcy or for liquidation or insolvency proceeding conducted pursuant to take advantage the laws of any bankruptcy, insolvency state or other debtors' relief law of a political subdivision of any jurisdictionstate and such proceeding is not stayed or discharged within 60 days after the commencement thereof, or (iii) ordering if Tenant shall be or become, either voluntarily or involuntarily, a debtor in any case commenced under the dissolutionprovisions of the U.S. Bankruptcy Code, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution as amended, and such attachment or execution case is not vacated stayed or discharged within thirty (30) days60 days after the commencement thereof.
Appears in 1 contract
Sources: Lease Agreement (Air Transport Services Group, Inc.)
Default by Tenant. The occurrence of any one or more Each of the following events shall be deemed to be an event of default by Tenant under this Sublease: ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇:
(a1) Tenant fails shall fail to pay when due any Base Rent, or any additional monthly installment of rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as payment required pursuant to this Sublease and when such rent becomes due and payable and such the failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof from the Landlord of such failure to pay; (2) Tenant shall file a petition or be adjudged bankrupt or insolvent under any applicable federal or state bankruptcy or insolvency law or admit that it cannot meet its financial obligations as they become due, or a receiver or trustee shall be appointed for all or substantially all of the assets of Tenant, if the same is not dismissed within 90 days; (3) Tenant shall make a transfer in fraud of creditors or shall make an assignment for the benefit of creditors; (4) Tenant shall do or permit to be done any act which results in a lien being filed against the Subleased Premises or the Property and the lien is not released by payment or bonding within fifteen (15) days after Tenant first has notice thereof; (5) the liquidation, termination or dissolution of Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, or (6) Tenant shall be required to establish an Event in default of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement term, provision or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due Sublease, other than those specified in clauses (1) through (5) above, and such failure or breach continues for more than ten default is not cured within thirty (1030) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten thirty (1030) days, an Event event of Default default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten thirty (1030) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, breach within a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysreasonable time.
Appears in 1 contract
Sources: Sublease (JMP Group Inc.)
Default by Tenant. The occurrence of any one or more All of the following events ("Event rights and remedies of Default") Landlord herein enumerated shall constitute a breach of this Lease be cumulative, and none shall exclude any other right or remedy allowed by ▇▇▇▇▇▇law. It is agreed that in the event:
(ai) That the Tenant fails shall fail, neglect or refuse to pay any Base Rentinstallment of Rent at the time, and in the amount as herein provided, or to pay any other monies agreed by it to be paid promptly when and as the same shall become due and payable under the terms hereof;
(ii) That any voluntary or involuntary petition or similar pleading, under any section or sections of any bankruptcy act, shall be filed by or against Tenant, or any additional monthly rent under Section 3.1voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare Tenant insolvent or unable to pay Tenant's debts, hereof, and the same shall not be dismissed or any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five discharged within thirty (530) days after ▇▇▇▇▇▇▇▇ gives written notice thereof in writing;
(iii) That the Tenant shall fail, neglect or refuse to keep and perform any of the other covenants, conditions, stipulations or agreements herein contained and to be kept and performed by it, and in the event any such default shall continue, for a period of more than thirty (30) days after notice thereof in writing given to the Tenant, by the Landlord; provided, however, that after if the second cause for giving such failure in notice involves the making of repairs, or other matters reasonably requiring a calendar year, only longer period of time than the passage period of time, but no further written such notice, the Tenant shall be required deemed to establish an Event of Default have complied with such notice so long as it has commenced to comply with said notice within the period set forth in the same calendar year; ornotice, and is diligently prosecuting compliance with said notice, or has taken proper steps or proceedings, under the circumstances, to prevent the seizure, destruction, alteration or other interference with said Demised Premises by reason of non-compliance with the requirements of any law or any ordinance or with the regulations, rules or directions of any government authority, as the case may be;
(biv) That the Tenant fails to perform or breaches makes any other agreement or covenant assignment of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment its property for the benefit of its creditors, or (iii) consents to should the appointment Demised Premises be taken under a levy of a custodianexecution or attachment, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of in an action against the Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order levy, attachment or assignment is not vacated dismissed and discharged within thirty (30) daysdays after written notice thereof to Tenant by Landlord, (i) appointing the Tenant does hereby authorize and fully empower said Landlord or Landlord's agent to cancel or annul this Lease at once and to re-enter and take possession of said Demised Premises immediately, and remove all persons and their property therefrom, and to use such force and assistance,in effecting and perfecting such removal as said Landlord may deem necessary and advisable to recover at once full and exclusive possession of all of said Demised Premises, whether in possession of said Tenant or of their persons or otherwise. At Landlord's option, Landlord may declare all installments of Rent for the remainder of the lease term, to be immediately due and payable whereupon the same shall become immediately due and payable. The Landlord may, however, at its option, at any time after a custodiandefault or violation of condition or covenant, receiverre-enter and take possession of said Premises without such re-entering working a forfeiture of the rents to be paid and the covenants, trustee agreements and conditions to be kept and performed by said Tenant for the full term of this Lease. In such event, the Landlord shall have the right, but not the obligation, to divide or subdivide the Premises in any manner the Landlord may determine and to lease or let the same or portions thereof for such periods of time and at such rentals and for such use and upon such covenants and conditions as Landlord may elect, applying the net rentals from such letting first to the payment of Landlord's expenses incurred in dispossessing the Tenant and the costs and expenses of making such improvements in the Premises as may be necessary in order to enable the Landlord to relet the same, and to the payment of any brokerage commissions or other officer necessary expenses of the Landlord in connection with similar powers such reletting. The balance, if any, shall be applied by the Landlord from time to time, but in any event not less than once each month, on account of the payments due or payable by the Tenant hereunder, with respect the right reserved to Landlord to bring such actions or proceedings for the recovery of any deficits remaining unpaid as it may deem advisable from time to time, without being obligated to await the end of the term hereof for a final determination of the Tenant's account and the commencement or maintenance of one (1) or more actions shall not bar the Landlord from bringing other or subsequent actions for further accruals pursuant to the provisions of this Paragraph. Any balance remaining, however, after full payment and liquidation of Landlord's account, as aforesaid, shall be paid to the Tenant from time to time with the right reserved to the Landlord at any time to give notice in writing to the Tenant of Landlord's election to cancel and terminate this Lease and all Tenant's obligations hereunder and upon the giving of such notice and the simultaneous payment by Landlord to Tenant or with respect of any credit balance in Tenant's favor that may at the time be owing to any substantial Tenant shall constitute a final and effective cancellation and termination of this Lease and the obligations thereunder on the part of Tenant's propertyeither party to the other. In addition to the foregoing, or (ii) constituting an order collection costs and reasonable attorneys' fees shall be paid by Tenant if delinquencies are referred for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) dayscollection.
Appears in 1 contract
Sources: Commercial Office Lease (Ultimate Software Group Inc)
Default by Tenant. (a) Each of the following occurrences relative to Tenant shall constitute an "Event of Default:"
(1) Failure or refusal of Tenant to make the timely payment of any Rent payable under this Lease within five (5) business days following written notice from Landlord, that the same is due and payable, but not yet received by Landlord; provided, in no event shall such notice be required of Landlord in excess of two (2) times during any twelve (12) month period;
(2) The filing or execution or occurrence of a petition in bankruptcy or other insolvency proceeding by or against Tenant or Guarantor, or petition or answer seeking relief under any provision of the Bankruptcy Act; or as assignment for the benefit of creditors or composition; or a petition or other proceeding by or against the Tenant or Guarantor for the appointment of a trustee, receiver or liquidator of Tenant or Guarantor or any of Tenant's or Guarantor's property; or a proceeding by any governmental authority for the dissolution or liquidation of Tenant or any guarantor of Tenant;
(3) Failure by Tenant in the performance or compliance with any of the agreements, terms, covenants or conditions provided in this Lease, other than those referred to in (1), (2) or (3) above, for a period of thirty (30) days after notice from Landlord to Tenant specifying the items in default; or
(4) The occurrence of any other event herein provided to be an Event of Default.
(b) This Lease and the Term and estate hereby made are subject to the limitation that if and whenever any Event of Default shall occur, Landlord may, at its option and without further written notice to Tenant, in addition to all other remedies given hereunder or by law or equity, do any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇following:
(a1) Terminate this Lease, in which event Tenant fails shall immediately surrender possession of the Leased Premises to pay Landlord;
(2) Enter upon and take possession of the Leased Premises and expel or remove Tenant and any Base Rent, other occupant and all property therefrom with or without having terminated the Lease; and
(3) Alter locks and other security devices at the Leased Premises so that Tenant will not have access to the Leased Premises. Landlord may take these actions without incurring any additional monthly rent under Section 3.1, hereof, liability and without relinquishing Landlord's right to Rent or any other amount right given to Landlord hereunder or by operation of money payable by law; Tenant hereunder as hereby waiving any right to claim damage for such re-entry expulsion.
(c) Once all applicable written notices are given, cure periods have elapsed and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) has occurred, any right of Tenant fails to perform or breaches receive notice of Landlord's intent to exercise any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; orremedies is hereby waived.
(d) Without consent Exercise by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage Landlord of any bankruptcyone or more remedies shall not constitute an acceptance of surrender of the Leased Premises by Tenant, insolvency or other debtors' relief law it being understood that such surrender can be effected only by the written agreement of the Landlord and Tenant, with the prior written consent of any jurisdiction, or Landlord's Mortgagee (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) days.as defined in Section 4.10
Appears in 1 contract
Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)
Default by Tenant. (a) The occurrence of any of the following shall constitute an Event of Default:
(i) Any installment of Base Rent or Additional Rent required to be paid by Tenant hereunder, or any part thereof shall at any time be in arrears and unpaid for five (5) days after written notice thereof; provided, however, such notice and such grace period shall be required to be provided by Landlord and shall be accorded Tenant, if necessary, only two (2) times during any twelve (12) month period, or
(ii) There is any default or breach on the part of Tenant in the observance or performance of any of the other covenants, agreements, or conditions of this Lease on the part of Tenant to be kept and performed and said default or breach shall continue for a period of thirty (30) days after written notice thereof from Landlord to Tenant (unless such default cannot reasonably be cured within thirty (30) days and in such case, Tenant shall have commenced to cure said default within said thirty (30) days and thereafter continue diligently to pursue to completion the curing of same), or
(iii) The leasehold estate hereby created shall be taken on execution or by other process of law, or
(iv) Tenant shall fail to deliver within ten (10) days after a request therefor any document described in Sections 13 or 21 hereof.
(b) If and whenever any Event of Default as defined above or elsewhere in this Lease shall occur, Landlord shall have the right at its election then or at any time thereafter to pursue any one or more of the following events ("Event of Default") shall constitute a breach of this Lease by ▇▇▇▇▇▇remedies in addition to all other rights or remedies provided herein or at law or in equity:
(ai) Tenant fails Re-enter the Premises, and take possession thereof in accordance with the process of law, and eject all parties in possession therefrom, using such force for that purpose as may be necessary, without being liable to pay any Base Rentprosecution for said re-entry or the use of such force, and, without terminating this Lease, at any time and from time to time relet the Premises or any additional monthly part thereof for the account of Tenant or otherwise, receive and collect the rents therefor, applying the same first to payment of such reasonable expenses as Landlord may have paid, assumed or incurred in recovering possession of the Premises, including, without limitation, costs, expenses and reasonable attorney's fees, brokerage and reasonable remodeling of the Premises, paid, assumed or incurred by Landlord in connection with reletting the Premises, and then to the fulfillment of the covenants of Tenant. Any such reletting as provided for herein may be for the remainder of the Term as originally granted or for a longer or shorter period. Landlord may execute any lease made pursuant to the terms hereof in Landlord's own name and Tenant shall have no right or authority whatever to collect any rent whatever from such Subtenant. In any case and whether or not the Premises or any part thereof be relet, Tenant shall pay to Landlord all sums required to be paid by Tenant up to the time of re-entry by Landlord, and thereafter Tenant shall, if required by Landlord, pay to Landlord until the end of the Term, the equivalent amount of all rent and other charges required to be paid by Tenant under the terms of this Lease, less the rent actually received by Landlord from any such reletting during the Term, if any, after payment of the expenses of Landlord as aforesaid, and the same shall be due and payable on the several rent days herein specified. No such re-entry by Landlord shall constitute an election to terminate this Lease unless and until Landlord thereafter gives Tenant written notice of Landlord's election to terminate this Lease. Actions to collect any amounts due by Tenant as provided in this Section 3.115 may be brought from time to time on one or more occasions without the necessity of Landlord's waiting until expiration of the Term;
(ii) Terminate this Lease, hereofand with the process of law, expel and remove Tenant, or any other amount of money payable by Tenant hereunder person or persons in occupancy from the Premises, together with their goods and chattels, using such force as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall may be required to establish an Event of Default necessary in the same calendar year; or
(b) Tenant fails judgment of Landlord or its agents in so doing, and repossess and enjoy said Premises together with all improvements, additions, alterations, equipment and fixtures thereon, and in addition to perform or breaches any other agreement or covenant of this Lease to be performed or observed remedy it may have, Landlord may recover from Tenant all reasonable damages it may incur by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature reason of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; orby Tenant.
(c) Tenant Landlord shall use commercially reasonable efforts to re-let the Premises to mitigate its damages upon the occurrence of an event of default under this Lease. For the purposes hereof, “commercially reasonable efforts” shall mean the following actions, which actions shall create an irrebuttable presumption that Landlord has fulfilled such obligation: (i) filesLandlord shall include the availability of the Premises in Landlord’s leasing flyers sent to brokers (if any), or consents by answer or otherwise to commencing following Landlord’s recovery of possession of the filing against it ofPremises, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage and ending upon re-leasing of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, the Premises; and/or (ii) makes Landlord shall engage an assignment for independent commercial real estate broker to re-let the benefit Premises, the cost and expense of its creditors, which shall be an element of Landlord’s damages in addition to any other damages recoverable pursuant to this Lease. Nothing contained herein shall require Landlord to re-let the Premises prior to or (iii) consents to with any preference over the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or leasing of any substantial part other similar premises of Tenant's property; orLandlord in the Project.
(d) Without consent by ▇▇▇▇▇▇Notwithstanding anything in this Lease to the contract, a court neither party shall be responsible or government authority enters an orderliable to the other for any special, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's propertyindirect, or consequential damages (ii) constituting an order for relief other than Tenant’s liability expressly described in Section 17 below if Tenant holds over). In addition, Landlord waives its right to distraint on Tenant’s Property, whether under common law or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysotherwise.
Appears in 1 contract
Default by Tenant. The occurrence of any of the following events and the expiration of any grace periods hereafter described shall constitute an “Event of Default” under this Lease on the part of Tenant:
(a) Tenant shall fail to pay any monthly installment of Base Rental, Parking Rental or Tenant’s Basic Cost, and such failure shall continue for five (5) Business Days after the date such payment is due, or Tenant shall fail to pay any other sum required to be paid under this Lease and such failure shall continue for fifteen (15) Business Days after the date such payment is due;
(b) Tenant shall assign its interest in this Lease or sublet any portion of the Leased Premises except as permitted in this Lease or Tenant shall otherwise breach the provisions of Section 5.4 of this Lease;
(c) a breach shall be made in the performance of any of the other covenants or conditions which Tenant is required to observe and to perform (other than those referred to in subsections (a) and (b) above), and such breach shall continue for fifteen (15) days after notice from Landlord of such breach (unless with respect to any default which cannot be cured within fifteen (15) days due to causes beyond Tenant’s reasonable control, Tenant, in good faith, after receiving such notice, shall have commenced and thereafter shall continue diligently to perform all action necessary to cure such default within sixty (60 ) days after notice from Landlord);
(d) Tenant shall vacate or fail to physically occupy the Leased Premises or any part thereof;
(e) if Tenant or any guarantor of this Lease is an entity, Tenant or any such guarantor shall cease to exist as such entity in good standing in the state of its formation, or, if Tenant or any guarantor of this Lease shall be dissolved or otherwise liquidated;
(f) if the interest of Tenant under this Lease shall be subjected to any attachment, execution, levy or other judicial seizure pursuant to any order or decree entered against Tenant in any legal proceeding that is not stayed (so as to prevent seizure) pending appeal and such order or decree is not vacated or bonded against so as to prevent seizure upon the earlier to occur of (aa) fifteen (15) days prior to the sale of such interest pursuant to such order or decree, or (bb) thirty (30) days after entry of the order;
(g) Tenant shall fail or refuse to move into or take possession of the Leased Premises within fifteen (15) days after the Commencement Date; or
(h) if a breach occurs under, or any guarantor of this Lease neglects or fails to perform or observe, any covenant, term, provision, or condition contained in any such guaranty of this Lease. If an Event of Default on the part of Tenant shall have occurred under this Lease, then or at any time thereafter while such Event of Default continues, Landlord, at Landlord’s option, may have any one or more of the following events described remedies in addition to all other rights and remedies provided at law or in equity:
("Event i) Landlord, with or without terminating this Lease, may immediately or at any time thereafter re-enter the Leased Premises and correct or repair any condition which shall constitute a failure on Tenant’s part to keep, observe, perform, satisfy or abide by any term, condition, covenant, agreement or obligation of Default"this Lease and Tenant shall fully reimburse and compensate Landlord on demand for the costs incurred by Landlord in doing so; or
(ii) Landlord may terminate this Lease and forthwith repossess the Leased Premises and remove all persons or property therefrom, and be entitled to recover forthwith as damages a sum of money equal to the total of (A) the cost of recovering the Leased Premises (including, without limitation, attorneys’ fees and costs of suit), (B) the cost as reasonably estimated by Landlord of any alterations of, or repairs to, the Leased Premises which are necessary or proper to prepare the same for reletting, (C) the unpaid Rent owed at the time of termination, plus interest thereon from due date at the Interest Rate, (D) the present value of the balance of the Rent for the remainder of the Term less the present value of the fair market rental value (and in computing the fair market rental value the factors taken into account shall include without limitation the market rental concessions and the time necessary to relet the Leased Premises) of the Leased Premises for said period (in each case using a discount rate of JPM Prime), and (E) any other sum of money and damages owed by Tenant to Landlord; or
(iii) Landlord may terminate Tenant’s right of possession (but not this Lease) and may repossess the Leased Premises by forcible entry or detainer suit or otherwise without demand or notice of any kind to Tenant and without terminating this Lease, and remove all persons or property therefrom, using such force as may be necessary (Tenant hereby waiving any claim by reason of such reentry, repossession or removal or by issuance of any distress warrant or writ of sequestration), in which event Landlord shall use commercially reasonable efforts to relet the Leased Premises or any part thereof for the account of Tenant for such rent and upon such terms as shall be satisfactory to Landlord (however, to the extent Landlord is so required by law to relet the Leased Premises, Landlord shall be under no obligation to relet the Leased Premises or any portion thereof in preference to any other space in the Project or on terms unsatisfactory to Landlord). For the purpose of such reletting Landlord is authorized to decorate or to make any repairs, changes, alterations or additions in or to the Leased Premises, or provide leasing inducements or brokerage commissions that may be necessary or convenient, and (A) if Landlord shall fail or refuse to relet the Leased Premises, or (B) if relet and a sufficient sum shall not be realized from such reletting (after paying the unpaid amounts due hereunder earned but unpaid at the time of reletting plus interest thereon at the Interest Rate, the cost of recovering possession [including, without limitation, attorneys’ fees and costs of suit], all of the costs and expenses of such decorations, repairs, changes, alterations and additions and all other expenses of such reletting [including, without limitation, leasing inducements and brokerage commission] and of the collection of the rent accruing therefrom) to satisfy the Rent provided for in this Lease to be paid, then Tenant shall pay to Landlord as damages a sum equal to the amount of the rental reserved in this Lease for such period or periods or, if the Leased Premises have been relet, Tenant shall satisfy and pay any such deficiency upon demand therefor from time to time as the same accrues or becomes due. Tenant agrees that Landlord may file suit to recover any sums falling due under the terms of this Section 6.8 from time to time on one or more occasions without Landlord being obligated to wait until expiration of the Term, and no delivery or recovery of any portion due Landlord hereunder shall be any defense in any action to recover any amount not theretofore reduced to judgment in favor of Landlord, nor shall such reletting be construed as an election on the part of Landlord to terminate this Lease unless a written notice of such intention be given to Tenant by Landlord. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Neither Landlord’s recovery of the Leased Premises, nor any reletting of the Leased Premises, shall be construed as an election by Landlord to accept surrender of the Leased Premises (and thereby terminate this Lease), unless written notice of such intention be given by Landlord to Tenant. If Landlord re-enters the Leased Premises or terminates this Lease pursuant to any of the provisions of this Lease, Tenant hereby waives all claims for damages which may be caused by such re-entry or termination by Landlord. No such re-entry or termination shall be considered or construed to be a forcible entry; or
(iv) Landlord is entitled and is hereby authorized, without any notice to Tenant whatsoever, to enter upon the Leased Premises by use of a master key, a duplicate key, picking the locks (all of which are agreed to be peaceable, and the doing of which shall not constitute a breach of the peace), or other peaceable means, and to change, alter, and/or modify the door locks on all entry doors of the Leased Premises, thereby excluding Tenant, and its officers, principals, agents, employees, visitors and representatives therefrom. In the event that Landlord has either terminated Tenant’s right of possession to the Leased Premises pursuant to the foregoing provisions of this Lease, or has terminated this Lease by ▇▇▇▇▇▇:
reason of the Event of Default, Landlord shall not thereafter be obligated to provide Tenant with a key to the Leased Premises at any time. If Landlord elects to exclude Tenant from the Leased Premises without permanently repossessing the Leased Premises or terminating this Lease pursuant to the foregoing provisions of this Lease, then Landlord (aat any time prior to permanent repossession or termination) shall not be obligated to provide Tenant fails a key to pay re-enter the Leased Premises until such time as all delinquent Rent has been paid in full and all other Events of Default, if any, have been completely cured to Landlord’s satisfaction, and Landlord has been given assurance reasonably satisfactory to Landlord evidencing Tenant’s ability to satisfy its remaining obligations under this Lease. During any Base Rentsuch temporary period of exclusion, Landlord will, during Landlord’s regular business hours and at Landlord’s convenience, upon written request by Tenant, escort Tenant or its authorized personnel to the Leased Premises to retrieve personal belongings of Tenant or its employees, and such other property of Tenant as is not subject to Landlord’s liens and security interests described in this Lease or available under applicable laws. Landlord may take these actions without being deemed in any additional monthly rent manner guilty of trespass, eviction or forcible entry or detainer and without incurring any liability for any damage resulting therefrom, including any liability arising under Section 3.1Chapter 93 of the Texas Property Code, hereofas amended, and without relinquishing Landlord’s right to Rent or any other amount right given to Landlord hereunder or by operation of money payable law; Tenant hereby waiving any right to claim damage for such reentry and expulsion, including any rights granted to Tenant by Chapter 93 of the Texas Property Code. Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, hereby agrees that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant provisions of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by Section 6.8 supersede the nature provisions Chapter 93 of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, a court or government authority enters an order, and such order is not vacated within thirty (30) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysTexas Property Code.
Appears in 1 contract
Default by Tenant. The occurrence of any one or more 16.1 Each of the following events ("Event of Default") shall constitute be deemed a default by Tenant and breach of this Lease by ▇▇▇▇▇▇Lease:
(ai) Filing of a petition by the Tenant fails to pay any Base Rentfor adjudication as a bankrupt, or any additional monthly rent under Section 3.1, hereoffor reorganization, or for an arrangement under any other amount of money payable by Tenant hereunder as and when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; orFederal or State Statute;
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by the nature of such agreement or covenant, such failure or breach cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as long as Tenant commences with due diligence and dispatch the curing of such failure or breach within such period of ten (10) days and, having so commenced, thereafter prosecutes with diligence and dispatch and completes the curing of such failure or breach; or
(c) Tenant (i) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes Dissolution or liquidation of the Tenant;
(iii) Appointment of a permanent receiver or a permanent trustee of all or substantially all the property of the Tenant;
(iv) Taking possession of the property of the Tenant by a governmental officer or agency pursuant to statutory authority for dissolution, rehabilitation, reorganization or liquidation of the Tenant;
(v) Making by the Tenant of an assignment for the benefit of its creditors;
(vi) Abandonment, desertion or vacation of the Leased Premises by the Tenant. If any event mentioned in this subsection (iii1) consents shall occur, Landlord may thereupon or at any time thereafter elect to cancel this Lease by ten (10) days notice to the appointment Tenant, and this Lease shall terminate on the day in such notice specified with the same force and effect as if that date were the date herein fixed for the expiration of the term of the Lease.
(i) Default in the payment of the Base Rent or additional rent herein reserved or any part thereof for a custodian, receiver, trustee or other officer with similar powers period of Tenant or seven (7) days after the same is due and payable as in this Lease required;
(ii) A default in the performance of any substantial other covenant or condition of this Lease on the part of Tenant's property; or
(d) Without consent by ▇▇▇▇▇▇, the Tenant to be performed for a court or government authority enters an order, and such order is not vacated within period of thirty (30) daysdays after notice. For purposes of this subdivision (2) (ii) hereof, no default on the part of Tenant in performance of work required to be performed or acts to be done or conditions to be modified shall be deemed to exist if steps shall have been commenced by Tenant diligently after notice to rectify the same and shall be prosecuted to completion with reasonable diligence, subject, however, to unavoidable delays.
16.2 In case of any such default under ARTICLE 16.1 (2) and at any time thereafter following the expiration of the respective grace periods above mentioned, or in the event that Tenant is consistently late in the punctual payment of Base Rent and/or additional rent required to be paid under this Lease as shall be evidenced by late payments made during any period of four (4) consecutive months during any twelve (12) month period measured from the date of the first late payment, Landlord may serve a notice upon the Tenant electing to terminate this Lease upon a specified date not less than seven (7) days after the date of serving such notice and this Lease shall then expire on the date so specified as if that date has been originally fixed as the expiration date of the term herein granted; however, a default under ARTICLE 16.1 (2) hereof shall be deemed waived if such default is made good before the date specified for termination in the notice of termination served on Tenant.
16.3 In case this Lease shall be terminated as hereinbefore provided, or by summary proceedings or otherwise, Landlord or its agents may, immediately or any time thereafter, re-enter and resume possession of the Leased Premises or such part thereof, and remove all persons and property therefrom, either by summary proceedings or by a suitable action or proceeding at law without being liable for any damages, provided any entry pursuant to the foregoing shall be in accordance with law. No re-entry by Landlord shall be deemed an acceptance of a surrender of this Lease.
(1) In case this Lease is terminated by summary proceedings, or otherwise, as provided in this ARTICLE 16, and whether or not the premises is relet, Landlord shall be entitled to recover from the Tenant, the following:
(i) appointing a custodianA sum equal to all expenses, receiverif any, trustee including reasonable counsel fees, incurred by Landlord in recovering possession of the Leased Premises, and all reasonable costs and charges for the care of said premises while vacant, which damages shall be due and payable by Tenant to Landlord at such time or other officer with similar powers with respect to Tenant or with respect to any substantial part of Tenant's property, or time as such expenses shall have been incurred by Landlord;
(ii) constituting an order for relief A sum equal to all damages set forth in this ARTICLE 16 and in ARTICLE 17 hereinafter referred to.
(2) Without any previous notice or approving a petition for relief or reorganization or arrangement or demand, separate actions may be maintained by Landlord against Tenant from time to time to recover any other petition in bankruptcy or for liquidation or to take advantage damages, which, at the commencement of any bankruptcysuch action, insolvency have then or other debtors' relief law theretofore become due and payable to the Landlord under this ARTICLE 16 and subsections hereof without waiting until the end of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; orthen current term.
(e3) This All sums which tenant has agreed to pay by way of taxes, sewer charges, water rents or water meter charges, insurance premiums and other similar items becoming due from time to time under the terms of this Lease, shall be deemed additional rent reserved in this Lease or any estate within the meaning of Tenant hereunder is levied upon under any attachment or execution this ARTICLE 16 and such attachment or execution is not vacated within thirty (30) dayssubsections hereof.
Appears in 1 contract
Sources: Lease Agreement (Transnet Corp)
Default by Tenant. The occurrence of any one or more Each of the following events ("Event shall be deemed an event of Default") shall constitute ----------------- default by Tenant and a material breach of this Lease by ▇▇▇▇▇▇Lease:
(a1) Tenant fails Failure to pay any Base Rent, all or any additional portion of any monthly rent under Section 3.1, hereof, or any other amount of money payable by Tenant hereunder as and Base Rent when such rent becomes due and payable and such failure continues for more than five (5) days after ▇▇▇▇▇▇▇▇ gives written notice thereof to Tenant; provided, however, that after the second such failure in a calendar year, only the passage of time, but no further written notice, shall be required to establish an Event of Default in the same calendar year; or
(b) Tenant fails to perform or breaches any other agreement or covenant of this Lease to be performed or observed by Tenant as and when performance or observance is due and such failure or breach continues shall continue for more than ten (10) days after Landlord gives written notice thereof to Tenant; provided, however, that if, by Tenant specifying such failure;
(2) Failure to pay any additional rent or other payments required under this Lease as the nature of such agreement or covenant, same shall become due and payable to Landlord and such failure shall continue for fifteen (15) days after written notice to Tenant specifying such failure;
(3) Failure to do so, observe, keep and perform any of the other terms, covenants, conditions, agreements and provisions of this Lease to be done observed, kept or breach performed by Tenant and such failure shall continues for thirty (30) days after written notice to Tenant specifying such failure, unless such failure is one which cannot reasonably be cured within such period of ten (10) days, an Event of Default shall not exist as so long as Tenant commences with due diligence and dispatch the curing of has commenced to cure such failure or breach within such period of ten (10) days and, having so commenced, and thereafter prosecutes with diligence and dispatch and completes the curing of continues its efforts to cure such failure or breach; orwith reasonable diligence;
(c4) The filing by Tenant (i) files, or consents by answer or otherwise to the filing against it of, of a petition for relief or reorganization or arrangement or any other voluntary petition in bankruptcy or for liquidation or to take advantage the making by Tenant of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, (ii) makes an a general assignment for the benefit of its creditors;
(5) The taking by execution or judgment or other process or law of all or any part of the leasehold interest of Tenant, or (iii) consents the adjudication of Tenant to be a bankrupt, the appointment of a custodian, receiver, trustee receiver of all or other officer with similar powers of Tenant or of any substantial part of Tenant's property; or
(d) Without consent interest in the Premises in any action, suit or proceeding by ▇▇▇▇▇▇or against Tenant, a court or government authority enters the filing against Tenant of an orderinvoluntary petition in bankruptcy, and such order which, in any of the foregoing cases, is not vacated dismissed, reversed or stayed within thirty ninety (3090) days, (i) appointing a custodian, receiver, trustee or other officer with similar powers with respect to Tenant or with respect to any substantial part days of Tenant's property, or (ii) constituting an order for relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors' relief law of any jurisdiction, or (iii) ordering the dissolution, winding-up or liquidation of Tenant; or
(e) This Lease or any estate of Tenant hereunder is levied upon under any attachment or execution and such attachment or execution is not vacated within thirty (30) daysits occurrence.
Appears in 1 contract
Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)