Common use of Default of Tenant Clause in Contracts

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date the same shall be due, or (ii) any failure 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 if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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or trustee of all or a portion of Tenant’s or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and Landlord, in addition to other rights or remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 2 contracts

Samples: Commercial Lease (Entellus Medical Inc), Commercial Lease (Entellus Medical Inc)

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Default of Tenant. a. In Each of the following shall constitute an event of default under this Lease: (a) Tenant’s failure to make any payment of the Base Rent, additional rent or any other sum within five (i5) business days of such payment’s due date; (b) Tenant’s failure to take possession of Tenant the Demised Premises within THIRTY (30) calendar days after delivery thereof to pay any rental due hereunder on the date the same shall be due, Tenant; (c) Tenant’s violation or (ii) any failure to perform or observe any other covenant or condition of this Lease within ten (10) calendar days after notice thereof from Landlord; or if such violation or failure is remediable but is of such a nature that it cannot be remedied within such ten (10) calendar day period, then for such longer period as may reasonably be required up to a maximum of ninety (90) days, provided that Tenant promptly commences and diligently pursues such remedy to completion; (d) Tenant’s abandonment or vacation of the termsDemised Premises; (e) the insolvency or bankruptcy of Tenant, conditions any general partner of Tenant (a “General Partner”) or covenants any guarantor; or (f) Tenant’s dissolution or liquidation. If there shall be an event of default, including an event of default prior to the Lease Commencement Date, then Landlord shall have the right, at its sole option, to terminate this Lease. In addition, with or without terminating this Lease, Landlord may reenter the Demised Premises, terminate Tenant’s right of possession and take possession of the Demised Premises. The provisions of this Article shall operate as a notice to quit, any other notice to quit or of Landlord’s intention to reenter the Demised Premises being hereby expressly waived. If necessary, Landlord may proceed to recover possession of the Demised Premises under and by virtue of the laws of the Commonwealth of Virginia, or by such other proceedings, including reentry and possession, as may be applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant’s right of possession, then everything contained in this Lease to be observed or done and performed by Landlord shall cease, without prejudice, however, to Landlord’s right to recover from Tenant for more than thirty (30) days after all rent and other sums due hereunder through the Lease Expiration Date as defined in Article III. No such re-entry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such failure shall have been intention be given to Tenant or unless the termination thereof shall result as a matter of law or be decreed by a court of competent jurisdiction. Whether or not this Lease and/or Tenant’s right of possession is terminated, provided if such failure canLandlord may, but shall not be cured within said thirty (30) day periodobligated to, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to relet the terms of this Lease, or (iv) if Tenant Demised Premises or any guarantor of this Lease shall become bankrupt part thereof, alone or insolventtogether with other premises, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either for such rent and upon such terms and conditions (which may include concessions, free rent and alterations of the United States or of any state a petition of 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 and such proceedings or petition is not withdrawn within forty-five (45Demised Premises) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and as Landlord, in addition to other rights or remedies it its sole discretion, may havedetermine, but Landlord shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may not be removed and stored in a public warehouse or elsewhere at the cost liable for, nor shall Tenant’s obligations be diminished by reason of, and for Landlord’s failure to relet the account of TenantDemised Premises or collect any rent due upon such reletting. Whether or not this Lease is terminated, all without service of notice or resort to legal process and without being guilty of trespass, or becoming Tenant nevertheless shall remain liable for any loss Base Rent, additional rent or damage damages which may be occasioned thereby.due or sustained by reason of such default, and costs, fees and expenses (including without limitation reasonable attorneys’ fees, brokerage fees, expenses incurred in placing the Demised Premises in rentable condition and tenant finish necessitated to obtain the new tenant) incurred by Landlord in pursuit of its remedies and in renting the Demised Premises to others from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Tenant shall also be liable to Landlord for additional damages, which shall be, at Landlord’s option, either (a) or (b) below:

Appears in 2 contracts

Samples: Lease (Global Defense Technology & Systems, Inc.), Lease (Global Defense Technology & Systems, Inc.)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date the same shall be due, or (ii) any failure to perform any other of the terms, conditions or covenants of this Lease Agreement to be observed or performed by Tenant for more than thirty twenty (3020) days after written notice of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this LeaseLease Agreement, or (iv) if Tenant or any guarantor of this Lease Agreement shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease Agreement in any court pursuant to any statute either of the United States or of any state a petition of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filingproperty, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall petitions for or enters into an arrangement, or suffer this Lease Agreement to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 2 contracts

Samples: Commercial Lease (Celcuity LLC), Commercial Lease (Celcuity LLC)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on (i) within five (5) days after written notice, if there has been no prior notice of rent payment default during the date the same shall be duepreceding twelve (12) months, or otherwise (ii) within ten (10) days of when due (without any notice requirement), or any failure 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 if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant or any such guarantor's property, or if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) if Tenant shall petitions for or enters into an arrangement with its creditors, or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or 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 property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (BioDrain Medical, Inc.)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date within ten (10) days after the same shall be becomes due, or (ii) any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than thirty ten (3010) days after written notice of such failure shall have has been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall falsify falsifies any report required to be furnished to Landlord pursuant to the terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become becomes bankrupt or insolvent, or file any debtor proceedings or any person shall take takes or have has 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filingproperty, or (v) if Tenant or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) petitions for or enters into an arrangement with its creditors, or if Tenant shall abandons the Premises or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall will be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or of remedies it may have, shall will have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (Aetrium Inc)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date within five (5) days after receipt of written notice that the same is due (provided, however, that Landlord shall be duehave the obligation to provide written notice of a rental default only one (1) time during any twelve (12) month period), or (ii) any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than thirty twenty (3020) days after written notice of such failure shall have been given to Tenant, provided or such additional time as may be necessary if such failure cannot be cured within said thirty such twenty (3020) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolventbankrupt, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute statue either of the United States or of any state a petition of 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 property, and such proceedings or petition proceeding is not withdrawn removed within forty-five sixty (4560) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) petitions for or enters into such an arrangement, or if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or of remedies it may have, shall have the immediate right of or re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (Ciprico Inc)

Default of Tenant. a. In If Tenant shall (a) fail to pay when due in the event manner provided in Section 4(b) hereof any monthly installment of Base Rent or any (i) failure other charge or payment required of Tenant hereunder (any such charge or payment being conclusively deemed to pay any rental due hereunder on be additional rent payable hereunder), and such default continues for ten (10) days after Landlord gives Tenant a written notice specifying the date the same shall be duefailure, or (iib) any failure violate or fail to perform any other of the termsother conditions, conditions covenants, or covenants agreements herein made by Tenant, and such violation or failure shall continue for a period of this Lease to be observed or performed by Tenant for more than thirty (30) days after written notice thereof to Tenant by Landlord, plus such additional period of time as may be reasonably necessary to cure such failure shall have been given to Tenantviolation or failure, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence commences the cure within said the 30-day period and continues prosecutes the same to diligently pursue cure thereaftercompletion with due diligence, or (iiic) vacate or abandon the demised premises, then in any of said events this Lease shall, at the option of Landlord, cease and terminate and shall operate as a notice to quit (any notice to quit or of Landlord's intention to re-enter being hereby expressly waived) and Landlord may proceed to recover possession under and by virtue of the provisions of the laws of the State of Maryland, or by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, the obligations herein contained on the part of Landlord to be performed shall cease without prejudice; provided, however, that Landlord shall retain the right to recover from Tenant all rental and other charges accrued up to the time of such termination, or recovery of possession by Landlord, whichever is later. Should this Lease be terminated before the expiration of the term of this Lease by reason of Tenant's default as hereinabove provided, or if Tenant shall abandon or an agent vacate the demised premises before the expiration or termination of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms term of this Lease, or (iv) the demised premises may be relet by Landlord, for such rent and upon such terms as Landlord is able to obtain, and, if Tenant or any guarantor of this Lease the full rental hereinabove provided shall become bankrupt or insolventnot be realized by Landlord, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and liable for all damages sustained by Landlord, including, without limitation, deficiency in addition to rent and all other rights or remedies it may havecharges due hereunder, shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.reasonable

Appears in 1 contract

Samples: Office Lease (Radio One Inc)

Default of Tenant. a. In the event of any (ia) failure of (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any rental other charges under this Lease when due hereunder on the date the same or shall be duedefault in complying with its obligations under Subsection 6.1.11 of this Lease and if any such default shall continue for five (5) days after notice from Landlord designating such default, or (iiII) if as promptly as possible but in any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than 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 be made by Tenant or any guarantor of such failure Tenant for the benefit of creditors; or (c) if Tenant's leasehold interest shall have been given to 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, or against the property of any guarantor of Tenant, provided if such failure canand shall not be cured discharged within said ten (10) days thereafter; or (e) if a petition shall be filed by Tenant or any guarantor of 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 (f) if an involuntary petition under any of the 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) day period, such period days thereafter; or (g) if a custodian or similar agent shall be extended so long as authorized or appointed to take charge of all or substantially all of the assets of Tenant commence cure within said period and continues to diligently pursue cure thereafter, or any guarantor of Tenant; or (iii) 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 (ivh) if Tenant or any guarantor of this Lease Tenant dissolves or shall become bankrupt be dissolved or insolventshall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or file liquidation; or (i) if any debtor proceedings order shall be entered in any proceeding by or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either Tenant decreeing or permitting the dissolution of the United States or of any state a petition of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for of Tenant or the benefit or creditors, winding up of its affairs; or (vij) if Tenant shall suffer 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 217 TENANT"), Landlord and the agents and servants of Landlord lawfully may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter mail a notice of termination addressed to Tenant, and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid the term of this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)terminate, and Landlord, in addition without notice to other rights Tenant, may store Tenant's effects, and those of any person claiming through or remedies it may haveunder Tenant, shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, expense and for the account risk of Tenant, and, if Landlord so elects, may sell or otherwise dispose of such effects at public auction or private sale or otherwise and apply the net proceeds (if any) to the payment of all without service of notice or resort sums due to legal process Landlord from Tenant, if any, and without being guilty of trespasspay over the balance, or becoming liable for any loss or damage which may be occasioned therebyif any, to Tenant.

Appears in 1 contract

Samples: Sonesta International Hotels Corp

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date within ten (10) days after the same shall be due, becomes due or (ii) any failure 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 if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall intentionally falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filingproperty, or (v) if Tenant or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or remedies it may have, shall have have, upon receipt of an order so stating from a court of competent jurisdiction, the immediate right of re-entry and may in such event remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (Thoratec Corp)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date within ten (10) days after the same shall be becomes due, or (ii) any failure 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 TenantTenant (or, provided if such failure cannot be cured default is reasonably incapable of cure within said thirty (30) days as reasonably determined by Landlord, such reasonably longer period of time not to exceed a total of sixty (60) days provided that Tenant commences the cure within thirty (30) days and diligently pursues the same to completion within said sixty (60) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter), or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filingproperty, or (v) if Tenant or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) petitions for or enters into an arrangement with its creditors, or if Tenant shall abandon the Demised Premises pursuant to the provisions in Article 20.0 above or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or of 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 property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (EnteroMedics Inc)

Default of Tenant. a. (a) In the event of any (i) failure of Tenant Lessee to pay any rental due hereunder on the date within ten (10) days after the same shall be due, or (ii) any failure to perform any other of the termsterm, conditions condition or covenants covenant of this Lease to be observed or performed by Tenant Lessee for more than thirty (30) days after written notice of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafterLessee, or (iii) if Tenant Lessee or an agent of Tenant Lessee shall falsify any report required to be furnished to Landlord Lessor pursuant to the terms of this Lease, or (iv) if Tenant Lessee or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant Lessee or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition of in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s Lessee's or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant Lessee or any such guarantor makes an assignment for the benefit or of creditors, or (vi) petitions for or enters into an arrangement, or if Tenant Lessee shall abandon the Demised Premises or suffer this Lease to be taken under any writ of execution, then in any such event Tenant Lessee shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and LandlordLessor, in addition to other rights or of 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 property may be removed and stored in a public warehouse or elsewhere at the cost of, of and for the account of Tenantthe Lessee, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Childrens Broadcasting Corp

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date the same with five (5) days after written notice of such failure shall be duehave been given to Tenant, or (ii) any failure 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 if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall knowingly falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn dismissed within forty-five sixty (4560) days after filingof the date Tenant receives notice of the same, or (v) if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of executionabandon the Demised Premises without adequately providing for the protection thereof, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or of remedies it may have, shall have the immediate right of re-entry and may may, by process of law only, remove all persons and property from the Demised Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (Vyant Bio, Inc.)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date within ten (10) days after the same shall be becomes due, or (ii) any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than thirty ten (3010) days after written notice of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filingproperty, or (v) if Tenant or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) petitions for or enters into an arrangement with its creditors, or if Tenant shall abandon the Demised Premises or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or of 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 property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (Restore Medical, Inc.)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental rent due hereunder on the date the same shall be due, or within ten (ii) any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than thirty (3010) days after written notice of such failure default shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord Peel Properties pursuant to the terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have taken against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state State or Commonwealth a petition of bankruptcy in Bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s 's or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or petitions for or enters into an arrangement, or if Tenant shall vacate or abandon said Premises within the first twenty-four (vi24) months of the Initial Term of the Lease, or if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and LandlordPeel Properties, in addition to all other rights or remedies it may have, shall have the immediate right to re-enter the Premises which right of re-entry shall include the right to lock out the Tenant and take sole possession of Premises, with or without terminating this Lease, and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.or

Appears in 1 contract

Samples: Lease Agreement (Efox Net Inc)

Default of Tenant. a. In the event of any (i) failure of If Tenant fails to pay any rental due hereunder on the date within five (5) days after the same shall be due, or (ii) any failure fails to perform any other of the termsterm, conditions condition or covenants covenant of this Lease to be observed or performed by Tenant for more than thirty ten (3010) days after written notice of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s 's or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) petitions for or enters into an arrangement, or if Tenant shall abandon the Leased Property or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or of remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises Leased Property and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Lease (Biosensor Corp)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental or other charges due hereunder on the date within ten (10) days after the same shall may be due, or (ii) any failure 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 default shall have been given mailed to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall suffer abandon said premises, or permit this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and Landlord, in addition to besides other rights or remedies it may have, shall have the right to declare this Lease terminated and/or shall have the immediate right of re-entry and may remove all persons and property from the Leased Premises and such property may be removed and or stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service evidence of notice or resort to legal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.. Should Landlord elect to re-enter or take possession pursuant to legal proceedings or any notice provided for Landlord, Landlord may either terminate this Lease or from time to time, without terminating this Lease relet the premises or any part thereof on such terms and conditions as Landlord shall in its sole discretion deem advisable. The proceeds of such reletting shall be applied: first to the payment of any indebtedness of Tenant to Landlord other than rent due hereunder; second, to the payment of any reasonable costs of such reletting, including the cost of any reasonable alterations and repairs to the premises; third, to the

Appears in 1 contract

Samples: Office Building Lease Agreement (Community Central Bank Corp)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental Base Rent, Additional Rent or other amounts due hereunder on the date within ten (10) days after the same shall be due, or (ii) 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 TenantTenant provided that, provided if such failure default cannot be with due diligence by wholly cured within said such thirty (30) days, Tenant shall have such longer period, up to ninety (90) days, as may be reasonably necessary to cure the default, so long as Tenant proceeds promptly to commence the cure of same within such thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues diligently prosecutes the cure to diligently pursue cure thereaftercompletion, or (iii) if Tenant or an agent of Tenant shall intentionally falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings proceedings, or any person shall take or have 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 of in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s 's or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or petitions for or enters into any similar arrangement, and such bankruptcy, insolvency, receivership or other proceeding is not dismissed in ninety (vi90) days 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 the Demised Premises (provided Tenant may vacate the Demised Premises provided it continues to perform its obligations hereunder) or suffer this Lease to be taken under any writ of executionexecution (any one or more of the foregoing shall constitute an "Event of Default"), then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to any other rights or 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 property may be removed and stored in a public warehouse or elsewhere at the sole cost of, and for the account of Tenant, all without service of notice or resort to in accordance with applicable legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Lease (Mgi Pharma Inc)

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Default of Tenant. a. In the event of any (ia) failure of (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any rental other charges under this Lease when due hereunder on the date the same or shall be duedefault in complying with its obligations under Subsection 6.1.11 of this Lease and if any such default shall continue for ten (10) days after notice from Landlord designating such default, or (iiII) if as promptly as possible but in any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than 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 be made by Tenant or any guarantor of such failure Tenant for the benefit of creditors; or (c) if Tenant's leasehold interest shall have been given to be taken on execution; or (d) if a involuntary lien or other involuntary encumbrance shall be filed against Tenant's leasehold interest or Tenant's other property, including said leasehold interest, or against the property of any guarantor of Tenant, provided if such failure canand shall not be cured discharged or a bond obtained in lieu of discharge within said ten (10) days thereafter; or (e) if a petition shall be filed by Tenant or any guarantor of 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 (f) if an involuntary petition under any of the 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) day period, such period days thereafter; or (g) if a custodian or similar agent shall be extended so long as authorized or appointed to take charge of all or substantially all of the assets of Tenant commence cure within said period and continues to diligently pursue cure thereafter, or any guarantor of Tenant; or (iii) 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 (ivh) if Tenant or any guarantor of this Lease Tenant dissolves or shall become bankrupt be dissolved or insolventshall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or file liquidation; or (i) if any debtor proceedings order shall be entered in any proceeding by or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either Tenant decreeing or permitting the dissolution of the United States or of any state a petition of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for of Tenant or the benefit or creditors, winding up of its affairs; or (vij) if Tenant shall suffer this Lease fail to be taken under pay any writ installment of executionAnnual Fixed Rent or Additional Rent when due, then 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 event Tenant shall be cases indicated in default hereunder clauses (each of the foregoing is an “Event of Default”a) through (j) hereof (collectively and individually, a "DEFAULT OF TENANT"), Landlord and Landlordthe agents and servants of Landlord lawfully may, in addition to other rights and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter mail a notice of termination addressed to Tenant, and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies it which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid the term of this Lease shall terminate, and Landlord may havestore Tenant's effects, shall have the immediate right and those of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse any person claiming through or elsewhere under Tenant, at the cost of, expense and for the account risk of Tenant, and, if Landlord so elects, may sell or otherwise dispose of such effects at public auction or private sale or otherwise and apply the net proceeds (if any) to the payment of all without service of notice or resort sums due to legal process Landlord from Tenant, if any, and without being guilty of trespasspay over the balance, or becoming liable for any loss or damage which may be occasioned therebyif any, to Tenant.

Appears in 1 contract

Samples: Perficient Inc

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental or other charges due hereunder on the date day the same shall be due, or (ii) any failure to perform any other of the terms, conditions conditions, or covenants of this Lease to be observed or performed by Tenant for more than thirty ten (3010) days after written notice of such failure default shall have been given mailed to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall suffer abandon said premises or permit this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and Landlord, in addition to 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 Premises leased premises, and such property may be removed and stored in a public warehouse or elsewhere at the cost of, of and for the account of Tenant, all without service evidence of notice or resort to legal process and without being deemed guilty of trespass, trespass or becoming liable for any loss or damage which may be occasioned thereby. Should Landlord elect to re-enter, as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law, it may either terminate this Lease or it may from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in order to relet the premises, and relet said premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. Upon each such reletting, all rentals and other sums received by Landlord from such reletting shall be applied: first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including reasonable brokerage fees and attorneys' fees and of costs of such alterations and repairs and costs of moving other tenants in the Premises in order to relet the leased premises, such as repairs and alterations to other portions of the Premises or reduced rental to other tenants; third, to the payment of rent and other charges due and unpaid hereunder, and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals and other sums received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. Tenant shall in no event be entitled to any rent collected as payable under any reletting, whether or not such rent shall exceed the rent reserved in this Lease. No such re-entry or taking possession of said premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time hereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have, it may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering the leased premises, reasonable attorneys' fees, and including the worth at the time of such termination of the excess, if any, of the amount of rent and charges equivalent to rent reserved in this Lease for the remainder of the stated term over the then reasonable rental value of the leased premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord. Abandonment of the leasehold shall not terminate tenant's obligations hereunder. In the event tenant seeks relief pursuant to 11 USC of the United States Bankruptcy Code, the parties hereto agree that any relief approved by the court thereunder after Motion of the Debtor will only be effective as of the date of the Hearing on such Motion, or such later date as the court may designate. Landlord shall be entitled to immediate administrative payment of all amounts due under the lease from the date of filing any Petition in Bankruptcy, until said relief may be granted by the court. In case suit shall be brought for recovery of possession of the leased premises, for the recovery of rent or any other amount due under the provisions of this Lease, or because of the breach of any other covenant herein contained on the part of Tenant to be kept performed, and a breach shall be established, Tenant shall pay to Landlord all expenses incurred therefor, including reasonable attorneys' fees. If any amount due from Tenant is not received by Landlord within five (5) days of when due, Tenant shall pay to the Landlord an additional sum equal to five (5%) percent of such overdue amount as a late charge. Payment of any such late charge shall not excuse or cure any default or prevent Landlord from exercising any of its other rights and remedies.

Appears in 1 contract

Samples: Pentecost Plaza Agreement of Lease (Mercantile Bank Corp)

Default of Tenant. 17. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date the same shall be due, within ten (10) days after written notice from Landlord to Tenant; or (ii) any failure to perform any other of the termsterm, conditions condition or covenants covenant of this Lease to be observed or performed by Tenant for more than thirty (30) days (or such additional time, in no event more than 60 additional days unless paragraph 17A.d applies, as is reasonably required to correct such failure) after written notice of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, ; or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings proceedings, or any person shall take or have 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 of in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s 's or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) petitions for or enters into an arrangement; or if Tenant shall abandon the Demised Premises (other than as permitted under paragraph 31) or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or and remedies it may have, may declare all rents reserved under this Lease for the then unexpired balance of the term to be immediately due and payable, and shall have (as and when allowed pursuant to judicial process) the immediate right of re-entry and may remove all persons and property from the Premises Demised Premises, and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process (except as required by law or this Lease) and without Landlord's being guilty of trespass, trespass or becoming liable for any loss or damage which may be occasioned thereby. b. Should Landlord elect to re-enter the Demised Premises as herein provided, or should it take possession of the Demised Premises pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may either terminate this Lease or may from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in order to relet the Demised Premises, and may relet the Demised Premises or any part thereof for such term or terms (which may be for a term extending beyond the Lease Term) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. Upon each such reletting, all rentals received by Landlord from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of Landlord's reasonable costs and expenses of such reletting, including brokerage fees, attorney's fees, and costs of alterations and repairs necessary to prepare the space for a new tenant; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than the rentals to be paid during that month by Tenant hereunder, then Tenant shall pay any such deficiency to Landlord on demand. No such re-entry or taking possession of the Demised Premises by Landlord, nor any other act or omission to act by Landlord, shall be construed as an election on Landlord's part to terminate this Lease unless a written notice of Landlord's intention to terminate be given to Tenant, or unless the termination hereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time after such re-entry and reletting elect to terminate this Lease for Tenant's said previous breach. Should Landlord at any time terminate this Lease by reason of any breach by Tenant, then in addition to any other remedies it may have, Landlord may recover from Tenant all damages it may incur by reason of such breach, including the cost of recovering possession of the Demised Premises, reasonable attorney's fees, and the excess, if any, of (i) the amount of Base Rent and Additional Rent reserved in this Lease for the remainder of its stated term, over (ii) the then reasonable rental value of the Demised Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord. c. Landlord may, at its option, after providing Tenant notice and the requisite cure period as specified in this Lease, instead of exercising any other rights or remedies available to it in this Lease or otherwise available by law, by statute or in equity, spend such money as is reasonably necessary to cure any default of Tenant hereunder; and the amount so spent by Landlord, and costs incurred in curing such default, including reasonable attorney's fees, shall be paid by Tenant as Additional Rent to Landlord upon demand. d. In the event suit shall be brought for recovery of possession of the Demised Premises, for the recovery of rent or any other amount due under the provisions of this Lease, or for relief because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, and in the event such breach by Tenant shall be established in such action, then Tenant shall pay to Landlord all expenses therein incurred, including reasonable attorney's fees, together with interest on all such rents, other amounts and expenses at the rate of one and one-half percent (1.5%) per month from the date of such breach of the covenants of this Lease. e. Tenant hereby expressly waives any and all rights of redemption (except to the extent, if any, that such rights are nonwaivable under applicable law) granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Demised Premises, by reason of the violation by Tenant of any of the covenants or conditions of this Lease or otherwise. Tenant also waives any demand for possession of the Demised Premises, and any demand for payment of rent and any notice of intent to re-enter the Demised Premises, or of intent to terminate this Lease, other than the notices provided for in this Lease, and waives any and every other notice or demand prescribed by any applicable statutes or laws, except to the extent (if any) that any such statutes or laws provide that any notice or demand is nonwaivable. f. No remedy herein or elsewhere in this Lease, or otherwise by law, statute or equity conferred upon or reserved to Landlord or Tenant, shall be exclusive of any other remedy, but all such remedies shall be cumulative, and may be exercised from time to time and as often as the occasion may arise.

Appears in 1 contract

Samples: Possis Medical Inc

Default of Tenant. a. In If and whenever all or part of the event of Minimum Rent or any (i) failure of other amounts payable by the Tenant to pay any rental due hereunder under this Lease are not paid on the date the same shall be dueday appointed for payment, whether demand for payment has been made or not, or (ii) if the Tenant shall fail to comply with any failure to perform any other of the terms, conditions or covenants of this Lease hereunder after the Landlord has given notice to the Tenant in writing stating the default with reasonably sufficient particulars and requiring it to be observed or performed remedied and such default has not been remedied by the Tenant for more than thirty within fourteen (3014) days after written notice receipt of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafternotice, or (iii) such longer period as may be reasonably necessary in view of the nature of the default, or if Tenant or an agent of the Tenant shall falsify any report required to be furnished to the Landlord pursuant to the terms of this Lease, Lease or (iv) if the Tenant or any guarantor indemnifier of this Lease shall become bankrupt or insolvent, insolvent or file any debtor proceedings proposal, or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state if a petition of bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee Receiver is appointed of all or a portion of the Tenant’s property or any such guarantorindemnifier’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filingproperty, or (v) if the Tenant or any such guarantor makes an assignment for the benefit or creditorsa sale in bulk, or (vi) if the Tenant shall abandon the Premises, or suffer this Lease or any of its assets to be taken under any writ of executionexecution or like process, or if the Tenant creates a security interest in the personal property of the Tenant in the Premises in favour of a third party or if any notice is filed under section 49 of the Personal Property Security Act in respect of the Premises or if re-entry is permitted under any other terms of this Lease, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and Landlord, in addition to any other rights or remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenantthe Tenant or be sold by the Landlord (and at the sole option of the Landlord, by way of private sale to the Landlord or any third party) all without service of notice or resort to legal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned therebythereby and to have again, repossess and enjoy the Premises as of its former estate whether the Landlord terminates this Lease or not, and notwithstanding the retaking of possession of the Premises by the Landlord, the Landlord specifically reserves all remedies and rights of action herein or at law or in equity provided. The Landlord or its duly authorized agent shall be entitled to distrain for the Rent hereby reserved including accelerated rent, if any, or for any money hereby made recoverable by distress upon the goods and chattels of the Tenant, wheresoever situate, and upon any premises to which the same may have been removed or wherever the same may be found. The Tenant hereby waives and renounces the benefit of any present or future legislation taking away or limiting a Landlord’s right of distress.

Appears in 1 contract

Samples: Lease

Default of Tenant. a. (a) In the event of any (i) failure of Tenant Lessee to pay any rental due hereunder on the date within ten (10) days after the same shall be due, or (ii) any failure to perform any other of the termsterm, conditions condition or covenants covenant of this Lease to be observed or performed by Tenant Lessee for more than thirty (30) days after written notice of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafterLessee, or (iii) if Tenant Lessee or an agent of Tenant Lessee shall falsify any report required to be furnished to Landlord Lessor pursuant to the terms of this Lease, or (iv) if Tenant Lessee or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant Lessee or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition of in bankruptcy or 146 insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s Lessee's or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant Lessee or any such guarantor makes an assignment for the benefit or of creditors, or (vi) petitions for or enters into an arrangement, or if Tenant Lessee shall abandon the Demised Premises or suffer this Lease to be taken under any writ of execution, then in any such event Tenant Lessee shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and LandlordLessor, in addition to other rights or of 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 property may be removed and stored in a public warehouse or elsewhere at the cost of, of and for the account of Tenantthe Lessee, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Childrens Broadcasting Corp

Default of Tenant. a. In If at any time the event rental or any money payments here under, or any part thereof, shall remain unpaid for a period of any ten (i10) failure days after the same becomes due, Landlord shall give written notice to Tenant of such default and intent to terminate the Lease in ten (10) days and shall allow Tenant to cure such default by making the rental or any money payments due together with a late charge of $500.00 dollars per each month's (or portion of a month) delinquency, plus the money due and any attorneys' fees detailed in Section 18. If the default is not corrected after this period, Landlord has all remedies available at law including the lockout provisions of ARS ss.33-361. If at any time Tenant is otherwise in breach of the Lease, Landlord shall give notice of such default to Tenant. If Tenant shall fail to pay the rental or any rental due hereunder on money payment plus the date the same shall be duelate charge, or (ii) any failure fail to fulfill or perform any other of the termsother agreements and provisions hereof obligatory upon Tenant, conditions and if said nonpayment, nonfulfillment or covenants nonperformance shall continue for a period of this Lease to be observed or performed by Tenant for more than thirty ten (3010) days after written notice of such failure shall have been given to Tenantthereof, provided if such failure cannot be cured within said thirty (30) day period, such period Tenant shall be extended so long as Tenant commence cure within considered in default hereunder, and upon such default it shall be lawful and optional for Landlord to declare a termination of this Lease and to reenter upon said period premises and continues to diligently pursue cure thereafteragain repossess and enjoy the same and all improvements thereon, and thereupon this Lease shall terminate; and in addition thereto, upon such default Landlord shall be entitled to whatever remedies Landlord may have at law for the collection of any unpaid rental hereunder or (iii) if Tenant for damages hereunder or an agent for damages that Landlord may have sustained on account of Tenant shall falsify Tenant's nonfulfillment or nonperformance of the agreements and provisions hereof or for any report required to other sums that may be furnished to Landlord pursuant due according to the terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and Landlord, in addition to other rights or remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned therebyhereof.

Appears in 1 contract

Samples: Titan Motorcycle Co of America Inc

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental Rent due hereunder on the date the same shall be due, or (ii) any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant for more than thirty twenty (3020) days after written notice of such failure shall have been given to Tenant, provided Tenant (or if such failure the default cannot be reasonably cured within said thirty (30) day period, period and Tenant fails promptly to commence with due diligence and dispatch the curing of such period shall be extended so long as Tenant commence cure default within said period and continues to diligently pursue cure thereafterthirty (30) day period), or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have 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 of bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s 's or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant or any such guarantor makes an assignment for the benefit or creditors, or (vi) petitions for or enters into an arrangement, or if Tenant shall abandon the Premises or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”)hereunder, and Landlord, in addition to other rights or remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (Celcuity Inc.)

Default of Tenant. a. In the event of any If tenant shall (i) failure of Tenant fail to pay any rental due hereunder on monthly installment of rent (as required by Article 3 hereof) or shall fail to timely make any other payment required by the date the same shall be dueterms and provisions hereof (although no legal or formal demand has been therefore) , or (ii) any failure violate or fail to perform any other of the other terms, conditions conditions, covenants or covenants agreements herein made by tenant, or (iii) abandon or vacate the premises, and such failure to pay rent, such other violation or failure or such abandonment shall continue for a period of this Lease to be observed or performed by Tenant for more than thirty time of five (305) days after written notice of such failure shall have been given thereof to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Leaseby landlord, or (iv) if Tenant make or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant consent to any statute either of the United States or of any state a petition of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for the benefit of creditors or a common law composition of creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ receiver of execution, then Tenant's assets is appointed or tenant files a voluntary petition in any such event bankruptcy or insolvency proceeding, or an involuntary proceeding is filed against Tenant shall be and not discharged by the Tenant within sixty (60) days, or Tenant is adjudicated a bankrupt, then, and in default hereunder (each any of said events, this lease shall, at the option of the foregoing is an “Event landlord, cease and terminate and the provisions of Default”)this Article "15" shall automatically operate as a notice to quit--any notice to quit, or of Landlords intention to re-enter, required by law or otherwise being hereby expressly waived--and LandlordLandlord may proceed to recover possession under and by virtue of the provisions of the laws of the State of Maryland or by such other proceedings, in addition to other rights or remedies it may have, shall have the immediate right of including re-entry and may remove all persons and property from the Premises and such property possession, as may be removed applicable. If landlord elects to terminate this lease, everything contained in this Lease on the part of the Landlord to be done and stored performed shall cease without prejudice, however, to the right of the Landlord to recover from tenant all rent and any other sums accrued up to the time of termination or recovery of possession by the landlord, whichever is later. Should this Lease be terminated before the expiration of the term of this Lease by reason of Tenant's default as hereinabove provided, or if tenant shall abandon or vacate the premises before the expiration date of the term of this Lease the premises may be relet by landlord for such rent and upon such terms as are not unreasonable under the circumstances and, if the full rental hereinabove provided (and any other costs, expenses, or damages indicated below) shall not be realized Landlord, Tenant shall be liable for all damages sustained by landlord including, without limitation, deficiency in a public warehouse rent, reasonable attorney's fees, real estate brokers' or elsewhere agents fees and commissions, and expenses of placing the premises in first class rentable condition. Any damage or loss of rent sustained by Landlord may be recovered by Landlord, at Landlords' option, at the cost of, and for time of the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespassrelettings, or becoming liable in separate actions, from time to time, as said damages shall have been made more easily ascertainable by successive expiration of the term of this Lease, in which event Tenant hereby agrees that the cause of action shall not be deemed to have occurred until the date of expiration of said term. The provisions contained in this paragraph shall be in addition to and shall not prevent the enforcement of any claim Landlord may have against tenant for any loss or damage which may be occasioned therebyanticipatory breach of the unexpired term of this Lease.

Appears in 1 contract

Samples: Commercial Lease (Hunapu Inc)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date within ten (10) days after the same shall be becomes due, or (ii) if a check for the payment of Base Rent or Additional Rent is returned NSF, or any failure 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 has been given to TenantTenant (provided that where a cure is not reasonably possible within that period, provided if such failure canTenant will be entitled to additional time to effect a cure, but not be cured within said beyond thirty (30) day periodadditional days, such period shall be extended so long as Tenant commence promptly commences acts reasonably calculated to effect a cure within said period and continues thereafter diligently prosecutes those acts to diligently pursue cure thereaftercompletion), or (iii) if Tenant or an agent of Tenant shall falsify falsifies any report required to be furnished to Landlord pursuant to the terms of this Lease, or (iv) if Tenant or any guarantor of this Lease shall become becomes bankrupt or insolvent, or file files any debtor proceedings or any person shall take takes or have has 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 of 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 and such proceedings or petition is not withdrawn within forty-five (45) days after filing's property, or (v) if Tenant or any such guarantor's property, or if Tenant or any such guarantor makes an assignment for the benefit or of creditors, or (vi) petitions for or enters into an arrangement with its creditors, or if Tenant shall suffer abandons the Premises or suffers this Lease to be taken under any writ of execution, then in any such event Tenant shall will be in default hereunder (each of the foregoing is an “Event of Default”), hereunder. and Landlord, in addition to other rights or remedies it may have, shall have the immediate right of re-entry and Landlord may remove all persons and property from the Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost of, and for the account of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (Aetrium Inc)

Default of Tenant. a. In the event of any (i) failure of Tenant to pay any rental due hereunder on the date within five (5) days after the same shall be duedue more than twice in any twelve (12) month period, or (ii) any failure 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 default shall have been given to Tenant, provided or such larger period of time as is reasonable if Tenant has commenced curing such failure cannot be cured default within said thirty (30) day perioddays and is diligently pursuing such cure, such period or if Tenant shall be extended so long as Tenant commence cure within said period finally adjudicated a bankrupt and continues to diligently pursue cure thereafterall appeal rights have been extinguished, or (iii) if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this LeaseTenant, or (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state State, shall file a petition of in bankruptcy or insolvency insolvency, or for reorganization or for the appointment of a receiver or trustee of for all or a portion of Tenant’s or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing's properly, or (v) if Tenant or any such guarantor makes shall make an assignment for the benefit or of creditors, or (vi) if Tenant shall abandon the Leased Premises and remove its furnishings and equipment therefrom, or if Tenant shall abandon said premises and also be in default under the Lease, or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and Landlord, in addition to besides other rights or remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Leased Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost ofcost, and for the account of Tenant, all without service of notice or resort to legal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby. Should Landlord elect to reenter as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law it may either terminate this Lease or it may from time to time without terminating this Lease, make such alterations and repairs as may be necessary to relet the Premises, and relet said Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable; upon each such reletting all rentals received by the Landlord from such reletting shall be applied, first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage and attorneys' fees and of costs of alterations and repairs; third, to the payment of rent due and unpaid hereunder, and the residue, if any, shall be held by the Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have all remedies available to it at law or in equity. In the event of any breach or threatened breach by Tenant or Landlord of any of the terms and provisions of this Lease, either Tenant or Landlord shall have the right to injunctive relief as if no other remedies were provided herein for such breach. The rights and remedies herein reserved by or granted to Landlord or Tenant are distinct, separate and cumulative, and the exercise of any one of them shall not be deemed to preclude, waive or prejudice Landlord's or Tenant's right to exercise any or all others. Tenant hereby expressly waives any right to assert a defense based on merger and agrees that neither the commencement of any action or proceeding, nor the settlement thereof, nor the entry of judgment therein shall bar Landlord from bringing any subsequent actions or proceedings from time to time. Wherever in this Lease the Landlord has reserved or is granted the right of re-entry into the Leased Premises the use of such word is not intended, nor shall it be construed, to be limited to its technical legal meaning. If either party incurs any expenses, including court costs and attorneys' fees (and the costs and expenses of such attorney), as a result of a default by the other party under this Lease, whether or not litigation is commenced or concluded, then such expenses shall be reimbursed by the non-prevailing party, whether or not such default is subsequently cured. Tenant hereby waives demand for rent, demand for possession, notice of forfeiture, notice of termination and any and all other demands or notices required by law.

Appears in 1 contract

Samples: Lease (Sheffield Pharmaceuticals Inc)

Default of Tenant. a. In (a) If the event of rent or any (i) failure of Tenant to pay any rental due hereunder on the date part thereof shall be unpaid for fifteen days after the same becoming payable (whether formally demanded or not) or if the Tenant shall be due, fail or (ii) any failure neglect to perform or observe any other of the terms, terms and conditions or covenants of this Lease herein contained and on its part to be performed or observed or performed by if the Tenant for more than thirty (30) days after written notice of such failure shall have been given to Tenant, provided if such failure cannot be cured within said thirty (30) day period, such period shall be extended so long as Tenant commence cure within said period and continues to diligently pursue cure thereafter, or (iii) 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 (iv) if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, if the Tenant (if a limited company) shall go into liquidation (whether compulsory or file voluntary except for the purpose of amalgamation of a solvent company) or shall enter into any debtor proceedings composition of arrangement with its creditors or shall suffer its goods or chattels to be levied in execution then and in any of the said cases it shall be lawful for the Landlord at any time thereafter (with or without notice to the Tenant) to re-enter upon the said premises or any person part thereof in the name of the whole and thereupon this Agreement shall take absolutely determine and the said deposit so paid as aforesaid shall be absolutely forfeited to the Landlord (as liquidated damages and not as penalty) but without prejudice to any right of action of the Landlord against the Tenant in respect of any breach of the Tenant’s terms and conditions herein contained. All costs and expenses incurred by the Landlord in demanding the rent and other moneys and in recovering vacant possession of the said premises from the Tenant, including legal costs and expenses of the Landlord of all proceedings between the Landlord and the Tenant in respect of the enforcement of the terms and provisions of this Tenancy Agreement or have against otherwise, shall be paid or repaid by the Tenant to the Landlord on a solicitors-and-own-client basis and shall be recoverable from it as a debt together with interest thereon as hereinafter provided. A written notice served by the Landlord on the Tenant or any guarantor of this Lease in any court pursuant left at the said premises to any statute either of the United States or of any state a petition of bankruptcy or insolvency or for reorganization or for effect that the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property and such proceedings or petition is not withdrawn within forty-five (45) days after filing, or (v) if Tenant or any such guarantor makes an assignment for Landlord thereby exercises the benefit or creditors, or (vi) if Tenant shall suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder (each of the foregoing is an “Event of Default”), and Landlord, in addition to other rights or remedies it may have, shall have the immediate right power of re-entry herein contained shall be a full and may remove all persons sufficient exercise of such power notwithstanding any statutory or common law provisions to the contrary. Further, the Tenant shall pay to the Landlord interest at the rate of 2% over and property above the Prime rate per annum quoted by The Hongkong and Shanghai Banking Corporation Limited from time to time (subject to fluctuation) on any sum due and payable by the Tenant to the Landlord under this Agreement from the Premises and such property may be removed and stored in a public warehouse or elsewhere at due date to the cost of, and for the account date of Tenant, all without service of notice or resort to legal process and without being guilty of trespass, or becoming liable for any loss or damage which may be occasioned therebyfull payment.

Appears in 1 contract

Samples: Tenancy Agreement (Memec Inc)

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