Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.
Appears in 3 contracts
Samples: Laboratory Lease (Dynavax Technologies Corp), Lease Agreement (Dynavax Technologies Corp), Laboratory Lease (Dynavax Technologies Corp)
Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified (or if such breach or default cannot be cured within said time, then within such additional time (not to exceed an additional thirty (30) days) as may be necessary if within said thirty (30) days Tenant has commenced and is such that more than 30 days are reasonably required diligently pursuing the remedies necessary to cure such breach or default, Tenant ); or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or of (c) if Tenant's leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant's leasehold interest or Tenant's other property, including said leasehold interest, and shall not be discharged within ten (10) days thereafter (or if such lien cannot be discharged within said time, then within such additional time (not to exceed an arrangement, composition, extension additional thirty (30) days) as may be necessary if within said ten (10) days Tenant has commenced and is diligently pursuing the remedies necessary to discharge such lien); or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord's approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a "Default of Tenant"), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the term of this Lease and all of Tenant's rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 3 contracts
Samples: Predix Pharmaceuticals Holdings Inc, EPIX Pharmaceuticals, Inc., EPIX Pharmaceuticals, Inc.
Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default in complying with its obligations under Sections 4.4 and breach 6.1.11 of this Lease by Tenant: and if any such default described in this subclause (aI) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues shall continue for five ten (510) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified (provided that if Tenant is proceeding in good faith and with due diligence to complete the nature cure of the default any such non-monetary performance breach which is curable but cannot reasonably be cured within thirty (30) days, such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty (30) day period it commences shall be extended for up to cure and diligently prosecutes such cure to completionan additional ninety (90) days); or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 2 contracts
Samples: Lease (Leap Therapeutics, Inc.), Leap Therapeutics, Inc.
Default of Tenant. The occurrence of any one or more of It is mutually agreed that in the following events shall constitute a default and breach of this Lease by Tenantevent: (a) Tenant's failure the rent herein reserved is not paid at the time and place when and where due and Tenant fails to pay any said rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for within five (5) business days after written demand from Landlord; or (b) Tenant will fail to comply with any material term, provision, condition, or covenant of this Lease, other than the payment of rent, and will not cure such failure within thirty (30) days after notice from Landlord; (b) Tenant's abandonment to Tenant of such failure to comply or such additional time period as may reasonably be necessary to effect a cure of the demised Premisesdefault provided that Tenant commences and diligently pursues a cure of the default; or (c) Tenant's failure Tenant causes any lien to promptly be placed against the Premises and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 does not cure the same within thirty (30) days after written notice from Landlord to Tenant demanding cure, THEN in any of such default provided that if events, Landlord will have the nature option to do any of the default is following, in addition to, and not in limitation of any other remedy permitted by law or by this Lease: (i) Landlord may terminate this Lease, in which event Tenant will immediately surrender the Premises to Landlord. Tenant agrees to indemnify Landlord for all loss and damage which Landlord may suffer by reason of such that more than 30 days are reasonably required termination, whether through inability to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in relet the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agencythrough decrease in rent, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertyotherwise; or (fii) Landlord, as Tenant's agent, without terminating this Lease, may terminate Tenant's right of possession, and, at Landlord's option, enter upon and rent the Premises at the best price obtainable by reasonable effort, without advertisement and by private negotiations and for any term Landlord deems proper. Tenant will be liable to Landlord for the deficiency, if any, between Tenant's rent hereunder and the interest price obtained by Landlord on reletting. Pursuit of Tenant under any of the foregoing remedies will not preclude pursuit of any of the other remedies herein provided or any other remedies provided by law. In any case, Landlord will use best efforts to mitigate Tenant's damages. Any notice in this provision may be given by Landlord or its attorney. No termination of this Lease is held prior to the normal ending thereof, by a partnership or by more than one person or entitylapse of time otherwise, will affect Landlord's right to collect rent for the occurrence of any act or event described in part (e) above in respect of any partner of period prior to the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completiontermination thereof.
Appears in 2 contracts
Samples: Lease Agreement (Hughes Supply Inc), Lease Agreement (Hughes Supply Inc)
Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 days are reasonably required to cure such default, Tenant or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant’s right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 2 contracts
Samples: Lease (RMR Group Inc.), Lease (Reit Management & Research Inc.)
Default of Tenant. The occurrence 17 a. In the event of any failure of Tenant to pay any Base Rent, Additional Rent or other amounts due hereunder within five (5) days after the same shall be due, or any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant with all reasonable diligence, but in any event for more than thirty (30) days after written notice of such failure shall have been given to Tenant, or if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings, or any person shall file against Tenant or any guarantor of this Lease 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 or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into any similar arrangement, or if any guarantor of this Lease shall be in default in the performance of any covenant, duty or obligation under any guaranty or other agreement entered into with or in favor of Landlord and such default shall remain uncured for a period of thirty (30) days or more after notice of such default, or if Tenant shall abandon or vacate the Demised Premises or suffer this Lease to be taken under any writ of execution (any one or more of the following events foregoing shall constitute a default and breach an “Event of this Lease by Tenant: (a) Tenant's failure to pay Default”), then in any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, event Tenant shall not be deemed to be in default if within hereunder, and Landlord, in addition to any other rights and remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Demised Premises and such 30 day period it commences to cure property may be removed and diligently prosecutes such cure to completion; (d) stored in a public warehouse or elsewhere at the levy of a writ of attachment or execution on this Lease or on any sole cost of, and for the account of Tenant's property located in the Premises; (e) the making by Tenant , all without service of a general assignment for the benefit notice or resort to legal process and without being guilty of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawstrespass, or the assumption by becoming liable for any court loss or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs damage which cannot reasonably may be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionoccasioned thereby.
Appears in 2 contracts
Samples: Lease (Wireless Ronin Technologies Inc), Lease (Wireless Ronin Technologies Inc)
Default of Tenant. The occurrence (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or regularly scheduled payments of Additional Rent under this Lease when due, or if Tenant shall default in its obligations to pay any one invoice for Additional Rent or more of the following events any other charges or amounts under this Lease when due and if any such default shall constitute a continue for seven (7) days after notice from Landlord designating such default, or (II) shall default and breach in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bIII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clauses (I) or (II) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days using diligent efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completioncompletion within such additional time as may be necessary, but in no event to exceed ninety (90) days from the date of Landlord’s notice to Tenant specifying the default (which 90-day period shall be extended on a day for day basis for each day that Tenant’s cure is delayed solely due to Force Majeure events or Landlord-cause delays); or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant's right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 1 contract
Samples: Ultragenyx Pharmaceutical Inc.
Default of Tenant. The occurrence of (i) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one or more other charges under this Lease within five (5) days of the following events date when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.10 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice pursuant to Section 10.1 thereof from Landlord; , or (bii) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (i) Tenant has not cured the default or defaults so specified; or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completion; completion within such additional time as may be necessary, but in no event to exceed sixty (d60) days from the levy date of Landlord’s notice to Tenant specifying the default, or (iii) if there shall be a writ default of attachment Tenant’s obligations under any lease between Landlord and Tenant for any space in the Building, which default continues beyond applicable notice and cure periods then, and in any of such cases indicated in clauses (i), (ii) and (iii) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or execution on at any time thereafter give notice to Tenant terminating this Lease or and the term hereof, which notice shall specify the date of termination, whereupon on any the date so specified, the term of this Lease and all of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant ’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 1 contract
Samples: AxoGen, Inc.
Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, provided that if Tenant is proceeding in good faith and with due diligence to complete the nature cure of the default any such non-monetary performance breach which is such that more than 30 days are curable but cannot reasonably required to cure such defaultbe cured within thirty (30) days, Tenant shall will not be deemed to be held in default if within such 30 day period it commences to cure and diligently prosecutes for not completing such cure within thirty (30) days so long as Tenant is diligently and continuously proceeding to completioncomplete such cure; or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement, composition, extension (c) if Tenant’s leasehold interest shall be taken on execution; or adjustment with its creditors, the filing by (d) if a lien or other involuntary encumbrance shall be filed against Tenant of Tenant’s leasehold interest or Tenant’s other property and shall not be discharged within thirty (30) days thereafter; or (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be stayed, dismissed or vacated within sixty (60) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant’s right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 1 contract
Samples: Curis Inc
Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant (collectively and individually, a “Default of Tenant: ”): (a) Tenant's failure (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any rent other charges or charges required to be paid by Tenant amounts under this Lease, except as otherwise provided herein, where Lease when due and if any such failure continues default shall continue for three (3) days after notice from Landlord designating such default or shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease and if any such default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completioncompletion within such additional time as may be necessary, but in no event to exceed forty-five (45) days from the date of Landlord’s notice to Tenant specifying the default; or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within sixty (60) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence provisions of any act bankruptcy law or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in code shall be filed against Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant such involuntary petition shall not be subject dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to penalty under this Lease so long as take charge of all or substantially all of the assets of Tenant; or (h) if Tenant prosecutes such corrective action diligently dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs. The notice periods provided herein are in lieu of, and continuously to completionnot in addition to, any notice periods provided by law.
Appears in 1 contract
Samples: Prometheus Biosciences, Inc.
Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure designating such default, or (II) if as promptly as possible but in any event within thirty (30) days after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the Term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the Term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 1 contract
Samples: Performance Technologies Inc \De\
Default of Tenant. The occurrence of any one or more of In the following events shall constitute a default and breach of this Lease by Tenant: event that Tenant (a) Tenant's fails to pay all or any portion of any sum due from Tenant hereunder when due and such failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five more than ten (510) business days after receipt of written notice from LandlordLandlord (provided that such ten (10) day grace period shall not be available more than three (3) times in any twelve (12) month period); (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure fails to promptly and fully perform any other covenantterms, condition covenants and conditions hereof, or agreement contained is otherwise in breach of any of Tenant's obligations hereunder or commits any other act or omission in violation of this Lease where and such failure to perform or violation continues for 30 more than thirty (30) days after receipt of written notice from Landlord to Tenant of (provided such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant thirty (30) day grace period shall not be deemed to be available more than three (3) times in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completionany twelve (12) month period); or (dc) becomes bankrupt, insolvent or files any debtor proceeding or takes or has taken against Tenant any petition of bankruptcy; takes action or has action taken against Tenant for the levy appointment of a writ of attachment receiver for all or execution on this Lease or on any a portion of Tenant's property located in the Premisesassets, files a petition for a corporate reorganization; (e) the making by Tenant of a general or makes an assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, (any or all of the filing by or against occurrences in this subsection 11.1 (c) shall be deemed a default on account of bankruptcy for the purposes hereof); then Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsshall be in default hereunder and Landlord may, or the assumption by any court or administrative agencyat its option and without further notice to Tenant, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control terminate Tenant's right to possession of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under and without terminating this Lease is held by a partnership re-enter and resume possession of the Premises and/or declare this Lease terminated, and may, thereupon, in either event remove all persons and property from the Premises with or by more than one person or entity, the occurrence without resort to process of any act court, either by force or event described in part (e) above in respect of otherwise. Notwithstanding such re-entry by Landlord, Tenant hereby indemnifies, protects, defends and holds Landlord harmless from any partner and all loss or damage which Tenant may incur by reason of the partnership or any person or entity holding an interest in Tenant termination of 25% or morethis Lease and/or Tenant's right to possession hereunder due to Tenant's default. In no event shall Landlord's termination of this Lease and/or Tenant's right of possession of the event a nonmonetary default occurs which cannot reasonably be cured within Premises abrogate Tenant's agreement to pay Rent and additional charges due hereunder for the time period specified above and Tenant commences corrective action within said time periodfull term hereof. Following re-entry of the Premises by Landlord, Tenant shall not promptly pay all arrearages then due and overdue and shall continue to pay all such Rent and additional charges as same become due under the terms of this Lease, together with all other expenses incurred by Landlord in regaining possession until such time, if any, as Landlord relets same and the Premises are occupied by such successor, it being understood that Landlord shall have no obligation to mitigate Tenant's damages by reletting the Premises. Upon reletting, sums received from such new lessee by Landlord shall be subject applied first to penalty under this Lease so long as payment of costs incident to reletting; any excess shall then be applied to any indebtedness to Landlord from Tenant prosecutes such corrective action diligently other than for Basic Rent; and continuously any excess shall then be applied to completionthe payment of Basic Rent due and unpaid. The balance, if any, shall be applied against the deficiency between all amounts received hereunder and sums to be received by Landlord on reletting, which deficiency Tenant shall pay to Landlord in full, within five (5) days of notice of same from Landlord. Tenant shall have no right to any proceeds of reletting that remain following application of same in the manner set forth herein.
Appears in 1 contract
Default of Tenant. The occurrence of Tenant shall be in default if any one or more of the following events ("Events of Default") shall constitute a default and breach of this Lease by Tenantoccur: (a) Tenant's failure Tenant shall fail to pay any rent installment of Rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where any other obligation hereunder involving the payment of money and such failure continues shall continue for five a period of ten (510) business days after written notice from Landlordthereof to Tenant and, in accordance with Section 8.2, to each Leasehold Mortgagee who has provided notice to Landlord of its Leasehold Mortgage; (b) Tenant's abandonment Tenant shall violate any material obligation of Tenant under this Lease not involving the demised Premisespayment of money and such violation shall continue for a period of thirty (30) days after written notice thereof to Tenant and, in accordance with Section 8.2, to each Leasehold Mortgagee who has provided notice to Landlord of its Leasehold Mortgage; provided, however, no Event of Default shall exist if the violation cannot with due diligence be cured within such 30-day period and Tenant shall have commenced to cure such violation and shall be proceeding with reasonable diligence to completely cure such violation; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a any general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, by Tenant; (d) the filing by or against Tenant of a voluntary petition in bankruptcy or a voluntary petition for relief an arrangement or other proceeding reorganization under the federal bankruptcy laws United States Federal Bankruptcy Act (or state similar statute or other insolvency laws, law of any foreign jurisdiction) by Tenant; (e) the appointment of a receiver or the assumption by any court trustee for all or administrative agency, or by a receiver, trustee or custodian appointed by either, substantially all of jurisdiction, custody or control of Tenant's interest in the Premises or of Tenant or any substantial part of its assets or propertyleasehold estate hereunder if not removed with one hundred and eighty (180) days; or and (f) if the interest entry of a final judgment, order or decree of a court of competent jurisdiction adjudicating Tenant under this Lease is held by a partnership or by more than one person or entityto be bankrupt, and the occurrence of any act or event described in part (e) above in respect of any partner expiration without appeal of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject if any, allowed by applicable law in which to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionappeal therefrom.
Appears in 1 contract
Samples: Lease Agreement (Six Flags Inc)
Default of Tenant. The occurrence 20. (a) For purposes of this Lease, any one or more of the following events shall constitute a default and breach of this Lease by Tenant"Tenant Default": (ai) Tenant's any failure of Tenant to pay any rent Base Rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) any installment of Tenant's abandonment of the demised Premises; TI Contribution due hereunder within ten (c10) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of default (provided, however, that if Lessor shall give three such notices in any twelve month period, no notice of any further default shall be required during the balance of the twelve month period commencing the first date of such default provided notice); or (ii) any failure of Tenant to pay any Additional Rent which is not being contested in good faith pursuant to the provisions of Section 6(c) hereof within ten (10) days after written notice of default; or (iii) any failure of Tenant to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than thirty (30) days after written notice of such failure shall have been given to Tenant; provided, however, that if the nature of the such default is cannot with due diligence be wholly cured within such that more than 30 days are reasonably required to cure such defaultthirty (30) days, Tenant shall not have such longer period as may be deemed reasonably necessary to be in default if cure the default, so long as Lessor proceeds promptly to commence the cure of same within such 30 thirty (30) day period it commences to cure and diligently prosecutes such the cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of (iv) if Tenant or any substantial part guarantor of its assets or property; or (f) if the interest of Tenant under this Lease is held by shall file or have filed against it any petition or claim for relief under any federal or state law relating to bankruptcy or insolvency or for reorganization or for the appointment of a partnership receiver or by more than one person or entity, the occurrence trustee of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.all or
Appears in 1 contract
Samples: Office/Warehouse Lease (Manufacturers Services LTD)
Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business Lease within 5 days after of Landlord's delivery of written notice from Landlordto Tenant that said amounts are past due; (b) Tenant's abandonment or vacation of the demised Premisespremises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's the property of Tenant located in the Premisespremises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, ; (f) the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, which petition in not removed or which action is not dismissed within 90 days of its filing, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises premises or of Tenant or any substantial part of its assets or property; or (fg) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part parts (e) or (f) above in respect of any partner of the partnership or any person or entity holding an interest partnership. Except as otherwise specified by this paragraph, in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.
Appears in 1 contract
Samples: Pixar \Ca\
Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's In the event (i) of any failure of Tenant to pay any rent rental or other charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues due hereunder for five more than ten (510) business days after written notice from Landlordof such default shall have been received by Tenant; or (bii) Tenant's abandonment of the demised Premises; (c) Tenant's any failure to promptly and fully perform any other covenantof the terms, condition conditions or agreement contained in covenants of this Lease where such (other than the covenants for the payment of rent) to be observed or performed by Tenant, including without limitation the failure continues of Tenant to maintain in effect any licence or permit necessary for 30 the use, occupancy or operation in the Demised Premises in accordance with this Lease or a breach of Section 4 of this Lease concerning Tenant’s use of the Demised Premises, for more than twenty (20) days after written notice from Landlord to Tenant of such default provided shall have been received by Tenant (unless a shorter period is specified herein with respect to a specific failure); provided, however, that if the nature curing of the such default is such that more than 30 days are shall reasonably required to cure such defaultrequire in excess of 20 days, Tenant shall not be deemed to be in default hereunder if Tenant shall commence to cure such default within such 30 day 20 days period it commences to cure and thereafter diligently prosecutes such cure to completion; completion or (diii) Tenant shall abandon the levy Demised Premises prior to the last three (3) months of a the term (provided that Tenant’s mere vacating of the Demised Premises shall not be deemed to be abandonment provided that Tenant continues to pay rent and perform all obligations under this Lease) or permits this Lease to be taken under any writ of attachment execution; or execution on this Lease (iv) Tenant assigns, mortgages, sublets, encumbers or on in any of Tenant's property located manner transfers the Demised Premises or its interest in the PremisesLease without Landlord’s consent; or (ev) the making by Tenant of a general makes an assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a allows any petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawslaw, or the assumption appointment of a trustee or receiver of Tenant, or its assets, or the estate created hereby shall be taken in execution or by other process of law or Tenant shall be adjudicated insolvent or bankrupt pursuant to the provisions of any court state or administrative agencyfederal insolvency or bankruptcy act, or if a receiver or trustee of the property of Tenant shall be appointed by reason of the insolvency or inability of Tenant to pay its debts, or if any assignment shall be made of the property of Tenant for the benefit of creditors; or (vi) Tenant shall be liquidated or dissolved or shall begin proceedings towards its liquidation or dissolution, then, unless such failure is caused directly or indirectly by the failure of the Landlord to provide the services under Section 28 hereof, the Oshawa Labour and Management Services Agreement or the ASA, or by the performance or non-performance of employees of the Landlord pursuant to Section 4(f) hereof, Landlord, besides other rights or remedies it may have, shall have the right to declare this Lease terminated and the term ended and/or shall have the immediate right of re-entry and may remove all persons and property from the Demised Premises and such property may be removed and stored in a receiverpublic warehouse or elsewhere at the cost of, trustee or custodian appointed by eitherand for the account of Tenant, without evidence, of jurisdictionnotice or resort to legal process and without being deemed guilty of trespass, custody or control of the Premises becoming liable for any loss or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs damage which cannot reasonably may be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionoccasioned thereby.
Appears in 1 contract
Default of Tenant. The occurrence of A. If any one or more of the following events occurs: (1) a rent payment or any other payment due from Tenant to Landlord shall constitute be and remain unpaid in whole or in part for more than ten (10) days after Tenant’s receipt of written notice that the same is past due, provided however that Landlord shall only be obligated to provide two (2) such notices in any 12-month period, and thereafter it shall be a default if a rent payment or any other payment due from Tenant to Landlord shall be and breach remain unpaid in whole or in part for more than ten (10) days after the same is due; (2) Tenant shall violate or default on any of this Lease by Tenant: (a) Tenant's failure to pay any rent the other covenants, agreements, stipulations or charges required to be paid by Tenant under this Lease, except as otherwise provided conditions herein, where and such failure continues violation or default shall continue for five a period of thirty (530) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such violation or default (which 30-day period shall be subject to reasonable extension, up to a total of 60 days, provided Tenant has commenced cure and is diligently pursuing the same to completion), except that if the nature of the default is such that more than 30 days are reasonably required a specific time period following notice by Landlord for Tenant to cure such defaultviolation or default is set forth elsewhere in this Lease Agreement, no additional period of notice and cure shall be afforded under this Article; (3) Tenant shall commence or have commenced against Tenant proceedings under a bankruptcy, receivership, insolvency or similar type of action; or (4) Tenant shall purport to assign this Lease Agreement or sublet, license, mortgage or transfer this Lease Agreement or the Premises hereunder in violation of the provisions of Article 16 of this Lease Agreement; then it shall be optional for Landlord, without further notice or demand, to cure such default or to declare this Lease Agreement forfeited and the said Term ended, or to terminate only Tenant’s right to possession of the Premises, and to re-enter the Premises, subject to applicable Laws, and Landlord shall not be deemed liable for damages by reason of such forfeiture or re-entry; but notwithstanding re-entry by Landlord or termination only of Tenant’s right to possession of the Premises, the liability of Tenant for the rent and all other sums provided herein shall not be relinquished or extinguished for the balance of the Term of this Lease Agreement and Landlord shall be entitled to periodically xxx Tenant for all sums due under this Lease Agreement or which become due prior to judgment, but such suit shall not bar subsequent suits for any further sums coming due thereafter. Tenant shall be responsible for, in addition to the rentals and other sums agreed to be paid hereunder (as more particularly set forth below), the reasonable cost of any necessary maintenance, repair, restoration, reletting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorneys’ fees incurred or awarded in default if within such 30 day period it commences any suit or action instituted by Landlord to cure and diligently prosecutes such cure to completion; (d) enforce the levy provisions of a writ of attachment or execution on this Lease or on any Agreement, regain possession of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control collection of the Premises rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of five percent (5%) of the rental installment or other sum due Landlord hereunder if said payment has not been received within ten (10) days from the date said payment becomes due and payable. Tenant agrees to pay interest at the rate of Tenant ten percent (10%) per annum or any substantial part the maximum permissible rate under the applicable usury statutes, whichever is less, on all rentals and other sums due Landlord hereunder not paid within ten (10) days from the date same become due and payable. All of its assets or property; or (f) if the interest of Tenant Landlord’s rights and remedies under this Lease is held by a partnership Agreement shall be cumulative with and in addition to any and all rights and remedies which Landlord may have at law or by more than one person in equity. Any specific right or entity, the occurrence remedy provided for in any provision of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant this Lease Agreement shall not be subject preclude the concurrent or consecutive exercise of a right or remedy provided for in any other provision hereof. Landlord shall exercise at least the level of effort required by applicable Laws to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionmitigate its damages.
Appears in 1 contract
Samples: Lease Agreement (SomaLogic, Inc.)
Default of Tenant. The occurrence of (i) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one or more other charges under this Lease within five (5) days of the following events date when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.10 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice pursuant to Section 10.1 thereof from Landlord; , or (bii) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (i) Tenant has not cured the default or defaults so specified; or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completion; completion within such additional time as may be necessary, but in no event to exceed sixty (d60) days from the levy date of Landlord’s notice to Tenant specifying the default, or (iii) if there shall be a writ default of attachment Tenant’s obligations under any lease between Landlord and Tenant for any space in the Building, which default continues beyond applicable notice and cure periods, then, and in any of such cases indicated in clauses (i), (ii) and (iii) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or execution on at any time thereafter give notice to Tenant terminating this Lease or and the term hereof, which notice shall specify the date of termination, whereupon on any the date so specified, the term of this Lease and all of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant ’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 1 contract
Samples: AxoGen, Inc.
Default of Tenant. The occurrence of (a).(I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure designating such default, or (II) if as promptly as possible but in any event within thirty (30) days after written, notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; of an arrangement(d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 1 contract
Samples: Amylyx Pharmaceuticals, Inc.
Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business Lease within 5 days after of Landlord's delivery of written notice from Landlordto Tenant that said amounts are past due; (b) Tenant's abandonment or vacation of the demised Premisespremises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's the property of Tenant located in the Premisespremises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, ; (f) the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, which petition is not removed or which action is not dismissed within 90 days of its filing, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises premises or of Tenant or any substantial part of its assets or property; or (fg) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part parts (e) or (f) above in respect of any partner of the partnership or any person or entity holding an interest partnership. Except as otherwise specified by this paragraph, in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be in default or subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.
Appears in 1 contract
Samples: Pixar \Ca\
Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant (collectively and individually, a “Default of Tenant: ”): (a) Tenant's failure (I) If Tenant shall default in its obligations to pay the Fixed Rent or Additional Rent or any rent other charges or charges required to be paid by Tenant amounts under this Lease, except as otherwise provided herein, where Lease when due or shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease and if any such failure continues default shall continue for five (5) business days Business Days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 or defaults so specified, provided that, if not curable with reasonable diligence within thirty (30) days are reasonably required but curable within one hundred twenty (120) days and Tenant has exercised reasonable diligence to cure such defaultfailure, no Default of Tenant shall not be deemed to be exist as long as Tenant shall in default if fact remedy such failure within such 30 120-day period it commences to cure and diligently prosecutes such cure to completionperiod; or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors and is not discharged within sixty (60) days; or (c) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest due to Tenant’s acts, and shall not be discharged within sixty (60) days thereafter; or (d) if a voluntary petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (e) if an arrangement, composition, extension involuntary petition under any of the provisions of any bankruptcy law or adjustment with its creditors, the filing by or code shall be filed against Tenant of a and such involuntary petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertyshall not be dismissed within one hundred twenty (120) days thereafter; or (f) if a receiver shall be authorized or appointed to take charge of all or substantially all of the interest assets of Tenant under this Lease and is held by a partnership not discharged within ninety (90) days; or by more than one person (g) if Tenant dissolves or entityshall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the occurrence result of which is intended to include dissolution or liquidation; or (h) if any act order shall be entered in any proceeding by or event described against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs and is not discharged within ninety (90) days. The notice periods provided herein are in part (e) above lieu of, and not in respect of addition to, any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionnotice periods provided by law.
Appears in 1 contract
Samples: Surgalign Holdings, Inc.
Default of Tenant. The occurrence (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any other charges or amounts under this Lease when due or shall default in complying with its obligations under Subsection 6.1.11 or the last sentence of any one or more of the following events shall constitute a default and breach Section 10.9 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure days (or such additional time, but not to promptly and fully perform any other covenantexceed sixty (60) days, condition or agreement contained in this Lease where as shall be reasonably required to cure such failure continues for 30 if the same is not capable of cure within thirty (30) days despite the use of all reasonable efforts by Tenant to do so) after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 days are reasonably required to cure such default, Tenant or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant or any guarantor of a general assignment Tenant for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension or adjustment with its creditors, the filing by or against Tenant the property of any guarantor of Tenant, and shall not be discharged within ten (10) days thereafter; or (e) if a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption shall be filed by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part guarantor of its assets Tenant for liquidation, or propertyfor reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant or any guarantor of Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant or any guarantor of Tenant; or (h) if Tenant or any guarantor of Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant or any guarantor of Tenant decreeing or permitting the dissolution of Tenant or any guarantor of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified; the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completion.hereinafter provided,
Appears in 1 contract
Samples: Cuisine Solutions Inc
Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after written notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, provided that if Tenant has taken immediate steps to cure such default and the nature of the default is such that requires more than 30 thirty (30) days are reasonably required to cure such defaultcure, Tenant shall, so long as Tenant is diligently pursuing a cure, have such additional time as is reasonably necessary; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, and shall not be discharged within ten (10) days after Tenant has knowledge of an arrangementthe same, composition, extension unless Tenant has timely contested such encumbrance in good faith and has furnished to Landlord security reasonably acceptable to Landlord with respect to Tenant’s obligation to discharge such lien or adjustment with its creditors, the filing by encumbrance; or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the Term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the Term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 1 contract
Samples: Liquid Holdings Group, Inc.
Default of Tenant. The occurrence of If any one or more of the following events shall constitute a default and breach of this Lease by Tenantoccurs: (a2) Tenant's failure a rent payment or any other payment due from Tenant to pay any rent Landlord shall be and remain unpaid in whole or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues in part for more than five (5) business days after following written notice from Landlordform Landlord of non-payment by Tenant; provide, however, if Landlord has given two (2) or more of such notices during the preceding twelve (12) month period, no such prior notice need be given by Landlord and Tenant shall be in default under this Lease Agreement if the payment is not made by Tenant within ten (10) days of the date same is due and payable; (b2) Tenant's abandonment Tenant shall not violate or default on any of the demised Premises; (c) Tenant's failure to promptly and fully perform other covenants, agreements, stipulations or conditions herein or in any other covenantagreement between Landlord and Tenant relating to the Premises and such violation or default shall continue for a period of thirty (30) days (or such additional period of time, condition not to exceed and additional sixty (60) days, as is reasonable under the circumstances if the violation or agreement contained in this Lease where default is of the type that can be reasonably be cured within thirty (30) days and Tenant promptly commences such failure continues for 30 days cure and at all times diligently pursues same) after written notice from Landlord to Tenant of such default provided that violation or default; or (3) if the nature Tenant or any guarantor of the default is such that more than 30 days are reasonably required this Lease Agreement shall commence or have commenced against Tenant or any guarantor proceedings under a bankruptcy, receivership, insolvency or similar type of action; then it shall be optional for Landlord, without further notice or demand, to cure such defaultdefault or to declare this Lease Agreement forfeited and the said Term ended, Tenant or to terminate only Tenant's right to possession of the Premises, and to re-enter the Premises with or without process of law, using such force as may be necessary to remove all persons or chattels therefrom, and Landlord shall not be deemed to be in default if within liable for damages by reason of such 30 day period it commences to cure and diligently prosecutes such cure to completionre-entry or forfeiture; (d) the levy but notwithstanding re-entry by Landlord of a writ forfeiture of attachment or execution on termination of this Lease Agreement or on any termination only of Tenant's property located in right to possession of the Premises; (e) , the making by Liability of Tenant of a general assignment for the benefit rent and all other sums provided for herein shall not be relinquished or extinguished for the balance of its creditors the Term of this Lease Agreement and Landlord shall be entitled to periodically sue Xxxant for all sums due under this Lease Agreement or of an arrangementwhich become due prior to judgment, compositionbut such suit shall not bar subsequent suits for any further sums coming due thereafter. Tenant shall be responsible for, extension or adjustment with its creditorsin addition to the rentals and other sums agreed to be paid hereunder, the filing cost of any necessary maintenance, repair, restoration, reletting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorney's fees incurred or awarded in any suit or action instituted by or against Tenant Landlord to enforce the provisions of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsthis Lease Agreement, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control regain possession of the Premises or the collection of the rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of 10% of the rental installment or any substantial part other sum due Landlord hereunder if said payment has not been received within ten (10 days) from the date said payment becomes due and payable, or cleared by Landlord's bank within three (3) business days after deposit. Tenant agrees to pay interest at 12% per annum or the maximum permissible rate under the applicable usury statutes, whichever is less, on all rentals and other sums due Landlord hereunder not paid within ten (10) days from the date the same becomes due and payable. Each right or remedy of its assets or property; or (f) if the interest of Tenant under Landlord provided for in this Lease is held by a partnership Agreement shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease Agreement now or hereafter existing at law or in equity or by more than one person the statute or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionotherwise.
Appears in 1 contract
Samples: Lease Agreement (Cray Inc)
Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business Lease within 5 days after or Landlord's delivery of written notice from Landlordto Tenant that said amounts are past due; (b) Tenant's abandonment of the demised Premises); (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the PremisesLease; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, ; (f) the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, which petition in not removed or which action is not dismissed within 90 days of its filing, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises premises or of Tenant or any substantial part of its assets or property; or (fg) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part parts (e) or (f) above in respect of any partner of the partnership or any person or entity holding an interest partnership. Except as otherwise specified by this paragraph, in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion. 11.2.
Appears in 1 contract
Samples: Sangamo Biosciences Inc
Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease by Tenant: and if any such default shall continue for seven (a7) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days Business Days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and {B2323618; 13} - 38 - continuously prosecute such cure to completioncompletion within such additional time as may be necessary, but in no event to exceed forty-five (45) days from the date of Landlord’s notice to Tenant specifying the default; or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property which includes said leasehold interest, composition, extension and shall not be discharged within ten (10) days after Tenant has notice thereof; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant's right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.
Appears in 1 contract
Samples: Lease (Pc Tel Inc)
