Common use of Default Clause in Contracts

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.

Appears in 3 contracts

Samples: Famous Fixins Inc, Famous Fixins Inc, Famous Fixins Inc

AutoNDA by SimpleDocs

Default. 418.1. Landlord may terminate this lease on three (3) days' notice: (a) if If Sublessee shall default in the payment of rent or additional rent is not paid other payments required of Sublessee, and if Sublessee shall fail to cure said default within three seven (37) business days after receipt of written notice of said default from LandlordSublessor; or (b) if Tenant Sublessee shall have failed to cure a default in the performance or observance of any covenant other agreement or condition on its part to be performed or observed, and if Sublessee shall fail to cure said default within ninety (90) days or such longer period as shall be reasonably required so long as the Sublessee shall be diligently pursuing such cure after receipt of this lease (except the payment written notice of rent)said default from Sublessor; or if any person shall levy upon, or take Sublessee's leasehold interest or any rule or regulation hereinafter set forthpart hereof, within five (5) days after written notice thereof from Landlordupon execution, attachment, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing their process of such default with due diligencelaw; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant Sublessee shall make a general an assignment of its property for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) daysSublessee shall file voluntary bankruptcy; or (e) if an execution any bankruptcy or attachment insolvency proceedings shall be issued under which the premises commenced by Sublessee or an involuntary bankruptcy shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if filed against the premises become and remain vacantor deserted Sublessee which remains undischarged for a period often (10) of 60 days; , or (g) if Tenant a receiver, trustee, or assignee shall default beyond be appointed for the whole or any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession part of the premises within fifteen Sublessee's property, then in any of said cases, Sublessor lawfully may upon seven days notice or if such notice shall adversely affect the rights of the Sublessor in any bankruptcy or receivership, then immediately, or at any time thereafter, and without further notice of demand, enter into and upon the Subleased Premises, or any part hereof in the name of the whole, and hold the Subleased Premises as if this Sublease had not been made, and expel Sublessee and those claiming under it, and remove its or their property without being taken or deemed to be guilty of any manner of trespass (15or Sublessor may send written notice to Sublessee of the termination of this Sublease, and upon entry as aforesaid (or in the event that Sublessor shall sent to Sublessee notice of termination as above provided, on the fifth (5th) days after commencement day next following the date of the sending of the notice), the term of this leaseSublease shall terminate. At Sublessee hereby expressly waives any and all rights of redemption granted by or under any present or future laws in the expiration event of Sublessee being evicted or dispossessed for any cause, or in the event Sublessor terminates this Sublease as provided in this Article. The Sublessee shall be liable for a 5% late charge applicable to any amounts due under this Sublease, which are not paid within seven (7) business days from the date of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provideddefault.

Appears in 3 contracts

Samples: Supplemental Agreement (Aprisma Management Technologies Inc), And Attornment Agreement (Cabletron Systems Inc), And Attornment Agreement (Aprisma Management Technologies Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default If Pledgor defaults in the performance of any covenant of this lease (except the payment of rentthe principal or ------- interest under the Note when it becomes due (whether upon demand, acceleration or otherwise) or any other event of default under the Note or this Pledge Agreement occurs (including the bankruptcy or insolvency of Pledgor), the Company may exercise any and all the rights, powers and remedies of any owner of the Pledged Shares (including the right to vote the shares and receive dividends and distributions with respect to such shares) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of California or otherwise available to the Company under applicable law. Without limiting the foregoing, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any rule part of the Pledged Shares at any private sale or regulation hereinafter set forthpublic auction, within five (5) on not less than ten days after written notice thereof from Landlordto Pledgor, at such price or if default cannot be completely cured in prices and upon such timeterms as the Company may deem advisable. Pledgor shall have no right to redeem the Pledged Shares after any such sale or assignment. At any such sale or auction, if Tenant shall rot promptly proceed to cure the Company may bid for, and become the purchaser of, the whole or any part of the Pledged Shares offered for sale. In case of any such default within said five (5) dayssale, or shall not complete after deducting the curing costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such default with due diligence; or (c) when and sale shall be applied to the extent permitted principal of and accrued interest on the Note; provided that after payment in full of the indebtedness evidenced by lawthe Note, if a petition in bankruptcy the balance of the proceeds of sale then remaining shall be filed by or against Tenant or if Tenant paid to Pledgor and Pledgor shall make a general assignment for be entitled to the benefit of creditors, or receive the benefit return of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed of the Pledged Shares remaining in the hands of the Company. Pledgor shall be liable for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) deficiency if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond remaining proceeds are insufficient to pay the indebtedness under the Note in full, including the fees of any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail attorneys employed by the Company to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedcollect such deficiency.

Appears in 3 contracts

Samples: Executive Stock Pledge Agreement (Corinthian Colleges Inc), Executive Stock Pledge Agreement (Corinthian Colleges Inc), Executive Stock Pledge Agreement (Corinthian Colleges Inc)

Default. 4Time is of the essence with respect to Lessee’s performance of its obligations under this Agreement. Landlord Lessor may terminate declare this lease on three (3) days' noticeLease in default if any one or more of the following occurs: (a) if rent or additional rent is not paid within three (3) days after written notice from LandlordLessee fails to make any payment required hereunder when due; or (b) if Tenant shall have failed Lessee fails to cure a default maintain in force at all times the performance of required insurance; (c) Lessee fails to properly operate, maintain or repair the Equipment; (d) Lessee fails to observe or perform any other covenant or requirement of this lease (except the payment of rent)Lease, or any rule or regulation hereinafter set forth, which failure is not cured to Lessor’s satisfaction within five (5) days after written Lessor’s notice thereof from Landlordto Lessee thereof; (e) Lessee attempts to sell, transfer or if default cannot be completely cured encumber the Equipment; (f) a voluntary or involuntary proceeding is instituted in such timeany court of competent jurisdiction, if Tenant shall rot promptly proceed to cure such default within said five seeking a decree or order (5i) daysfor relief in respect of Lessee under any applicable bankruptcy, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by lawinsolvency, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general reorganization, assignment for the benefit of creditors, or receive other similar law, or (ii) for the benefit appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of Lessee or its property, or (iii) for the winding up or liquidation of the Lessee’s affairs; (g) Lessee shall generally fail to pay its debts as they come due; and/or (h) Lessee, in Lessor’s opinion, shall become financially insecure. At any insolvency time after such declaration, Lessor may enter, with or reorganization actwithout legal process, any premises where the Equipment is located and take possession thereof. Lessee shall provide Lessor with unobstructed ingress and egress for such purpose. Furthermore, Lessee shall immediately pay to Lessor all amounts then due hereunder and all costs of removal and repossession of the Equipment. Lessor’s remedies herein shall be cumulative and are in addition to all other remedies existing at law or in equity, including but not limited to, (a) terminate this Agreement and all rights of Lessee hereunder; (b) to declare the entire unpaid rent due (including any rent accruing during any minimum rental term) to be immediately due and payable; (c) to enter the premises where the Equipment is located, take possession of and remove the Equipment or render the Equipment inoperable, with or without legal process; (d) if a receiver or trustee is appointed for any portion to demand that Lessee surrender and deliver up possession of Tenant'sthe Equipment to Lessor; property and such appointment is not vacated within twenty (20) days; or (e) if an execution with or attachment shall be issued without terminating this Agreement, to re-let the Equipment on such terms and conditions as are then available and otherwise acceptable to Lessor, and apply rent payments received, after deduction of all costs and expenses incurred by Lessor, to amounts due from Lessee under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenantthis Agreement; or and (f) if within Lessor’s sole discretion, but without any obligation, to take such action or make any payment to remedy any default, including but not limited to, procuring any required insurance coverage, paying any fine, imposition, penalty, taxes or fees incurred to recover and/or release the premises become Equipment from any forfeiture, seizure, confiscation or similar proceeding, or from any lien or other encumbrance imposed on the Equipment, all such payments of which shall be reimbursed by Lessee. In addition to the payment of any amounts due Lessor hereunder, Lessee shall be responsible for and remain vacantor deserted shall reimburse Lessor for a period often (10) days; or (g) if Tenant shall default beyond all costs and expenses incurred by Lessor in connection with the exercise of any grace period under any other lease between Tenant rights and Landlord; or (h) if Tenant shall fail to move into or take possession remedies hereunder, including all expenses incurred in the removal and transportation of the premises within fifteen (15) days after commencement Equipment to Lessor’s premises, any cleaning, service and/or repair of the term Equipment, and in the enforcement of the terms and conditions of this lease. At the expiration Agreement or damages recoverable hereunder, including costs of the three collection and reasonable attorney’s fees (3including fees and expenses incurred in any bankruptcy proceeding or on appeal) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.

Appears in 3 contracts

Samples: Rental Agreement, Rental Agreement, Rental Agreement

Default. 4. Landlord may terminate In addition to any other Default specifically described in this lease on three (3) days' noticeLease, each of the following occurrences shall be a “Default”: (a) Tenant’s failure to pay any portion of Rent when due, if rent the failure continues for five (5) Business Days after Landlord gives written notice to Tenant of the applicable failure by Tenant to timely pay such portion of the Rent (“Monetary Default”); (b) Tenant’s failure (other than a Monetary Default) to comply with any term, provision, condition or additional rent covenant of this Lease, if the failure is not paid cured within three thirty (330) days after written notice from Landlord; or (b) to Tenant provided, however, if Tenant’s failure to comply cannot reasonably be cured within such thirty-(30)-day period, Tenant shall have failed be allowed additional time (not to exceed an additional ninety (90) days) as is reasonably necessary to cure a default in the performance of any covenant of this lease (except failure so long as Tenant begins the payment of rent), or any rule or regulation hereinafter set forth, cure within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed thirty-(30)-day period and diligently pursues the cure to cure such default within said five (5) days, or shall not complete the curing of such default with due diligencecompletion; or (c) when and to the extent permitted by lawTenant effects or permits a Transfer without Landlord’s required approval or otherwise in violation of Section 11 of this Lease; (d) Tenant becomes insolvent, if makes a petition transfer in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general fraud of creditors, makes an assignment for the benefit of creditors, or receive forfeits or loses its right to conduct business; (e) the benefit leasehold estate is taken by process or operation of any insolvency or reorganization actLaw; or (df) if a receiver receiver, guardian, conservator, trustee in bankruptcy or trustee is similar officer shall be appointed for by a court of competent jurisdiction to take charge of all or any portion part of Tenant's; ’s property and such appointment is not vacated discharged within twenty ninety (2090) days; days thereafter, or if a petition including, without limitation, a petition for reorganization or arrangement is filed by Tenant under any bankruptcy law or is filed against Tenant and the same shall not be dismissed within ninety (e90) days from the date upon which it is filed. In addition, if an execution Landlord provides Tenant with notice of Tenant’s failure to comply with any specific provision of this Lease on two (2) separate occasions during any twelve-(12)-month period, any subsequent violation of such provision within such twelve-(12)-month period shall, at Landlord’s option, constitute a Default by Tenant without the requirement of any further notice or attachment cure period as provided above. All notices sent under this Section shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied in satisfaction of, and not in addition to, any notice required by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedLaw.

Appears in 3 contracts

Samples: Lease Agreement (Ikena Oncology, Inc.), Lease Agreement (Monte Rosa Therapeutics, Inc.), Lease Agreement (Monte Rosa Therapeutics, Inc.)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if If Sublessee shall fail to pay any rent or additional rent is not paid Additional Rent to Sublessor within three ten (310) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant same is due and payable under the terms of this lease Sublease and following the passage of ten (except the payment 10) days notice of rent)such failure by Sublessor, or if the Sublessee shall fail to perform any rule other duty or regulation hereinafter set forth, within five obligation imposed upon it by this Sublease and such default shall continue for a period of thirty (530) days after written notice thereof from Landlord, has been given to Sublessee by Sublessor (except where Sublessee has diligently begun to correct such other duties or if default cannot be completely cured in obligations within such time, if Tenant shall rot promptly proceed period and continues to cure such default within said five (5) dayson a diligent basis), or shall not complete if the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy Sublessee shall be filed by adjudged bankrupt, or against Tenant or if Tenant shall make a general assignment for the benefit of its creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver of any property of Sublessee in or trustee is upon the Subleased premises be appointed for in any portion actions, suit, or proceeding by or against Sublessee, or if the interest of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an Sublessee in the Subleased Premises shall be sold under execution or attachment other legal process, then and in any such event Sublessor shall be issued under which have the premises right to enter upon the Subleased Premises and again have, repossess, and enjoy the same as if this Sublease had not been made, and thereupon this Sublease shall be taken or occupied or attempted terminate without prejudice, however, to be taken or occupied by an one other than Tenant; or (f) if the premises become right of Sublessor to recover from Sublessee all rent due and remain vacantor deserted unpaid up to the time of such re-entry. In the event of any such default and re-entry, Sublessor shall have the right to relet the Subleased Premises for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession the remainder of the premises within fifteen (15) days after commencement of then existing term whether such term be the initial term of this leaseSublease or any renewed or extended term, and to recover from Sublessee the difference between the rent reserved by this Sublease and the amount obtained through such reletting less the costs and expenses reasonably incurred by Sublessor in such reletting. At the expiration of the three (3) day notice periodSublessor hereby expressly reserves all other rights and remedies available to it, this lease and any rights of renewal whether at law or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedequity.

Appears in 2 contracts

Samples: Sublease (Mastech Corp), Sublease (Mastech Corp)

Default. 417. Landlord may terminate (1) If Tenant defaults in fulfilling any of the covenants of this lease on three (3) days' notice: (a) if other than the covenants for the payment of rent or additional rent is not paid within three (3) days after written notice from Landlordrent; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of demised premises becomes vacant or deserted "or if this lease be rejected under [Section] 235 of Title 11 of the U.S. Code (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, bankruptcy code):" or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which against Tenant or any of Tenant's property whereupon the demised premises shall be taken or occupied or attempted to be taken or occupied by an one someone other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall make default beyond any grace period under with respect to any other lease between Tenant Owner and LandlordTenant; or (h) if Tenant shall fail have failed, after five (5) days written notice, to redeposit with Owner any portion of the security deposited hereunder which Owner has applied to the payment of any rent and additional rent due and payable hereunder or failed to move into or take possession of the premises within fifteen thirty (1530) days after the commencement of the term of this lease. At , of which fact Owner shall be the sole judge; then in any one or more of such events, upon Owner serving a written fifteen (15) days notice upon Tenant specifying the nature of said default and upon the expiration of said fifteen (15) days, if Tenant shall have failed to comply with or remedy such default, or if the three said default or omission complained of shall be of a nature that the same cannot be completely cured or remedied within said fifteen (315) day notice period, and if Tenant shall not have diligently commenced during such default within such fifteen (15) day period, and shall not thereafter with reasonable diligence and in good faith, proceed to remedy or cure such default, then Owner may serve a written five (5) days' notice of cancellation of this lease upon Tenant, and upon the expiration of said five (5) days this lease and any rights of renewal or extension thereof the term thereunder shall terminate end and expire as fully and completely as if that the expiration of such five (5) day period were the date originally day herein definitely fixed for the end and expiration of this lease and the term of this lease, thereof and Tenant shall then quit and surrender the demised premises to Owner but Tenant shall remain liable as hereinafter provided.

Appears in 2 contracts

Samples: Agreement (Younetwork Corp), Younetwork Corp

Default. 4. Landlord Without in any way restricting any other rights and remedies which the Lessor may terminate have in the case of the breach or non-observance or non-performance on the part of the Lessee of any covenant, proviso, condition, restriction or stipulation in this lease on three Lease contained, (3the “Default”) days' notice: the Lessor may give to the Lessee written notice requiring the Lessee to remedy such Default and if the Lessee fails to remedy such Default within a period of thirty (a) if rent or additional rent is not paid within three (330) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default the receipt of such notice, or, in the performance case of a Default which requires more than thirty (30) days to remedy, if the Lessee fails to commence to remedy such Default within a period of thirty (30) days from the receipt of such notice and thereafter diligently continue in its best efforts until such Default has been completely remedied, this Lease shall thereupon terminate and it shall be lawful for the Lessor, to enter into and upon the Demised Estate (or any part thereof in the name of the whole), to re-enter and the same to have again, repossess and enjoy, anything in this Lease contained to the contrary notwithstanding, and, should the Lessor so elect by notice to the Lessee within thirty (30) days of exercising this right, any or all xxxxx which the Lessee may have drilled on the Said Lands, including all tools, machinery, buildings, erections, equipment and materials (the “Equipment”) which the Lessee may have placed on the Said Lands for the express purpose of producing Leased Substances shall become the property of the Lessor free and clear of any covenant claim or interest of this lease (except the payment of rentLessee and the Lessee shall assign to the Lessor, without consideration, the wellbore(s), the Equipment, the surface rights of the Said Lands and any regulatory permits or any rule or regulation hereinafter set forthlicences which the Lessor may request; provided that, within five nothing in this clause 18. contained shall relieve the Lessee from its obligations under clause 20. (5Removal of the Lessee’s Equipment) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when unless and to the extent permitted by lawthat the Lessor elects to take over the xxxxx and Equipment or any portion thereof. Without derogating from the foregoing provisions of this clause 18, if the Demised Estate or a petition part thereof is included in bankruptcy any plan of unitization to which the Lessor has consented and a Default occurs which does not relate wholly or partly to the portion of the Said Lands included in the plan of unitization, then the Lessor shall be filed by or against Tenant or if Tenant shall make a general assignment have the right to terminate this Lease in the manner provided in this clause for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is the Said Lands not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which included in the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession plan of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedunitization.

Appears in 2 contracts

Samples: Petroleum Lease, www.perpetualenergyinc.com

Default. 4. Landlord may terminate If this lease on three is terminated in accordance with any of ------- the terms herein (3) days' notice: (a) with the exception of Paragraph 27), or if rent Lessee vacates or additional rent is not paid within three (3) days after written notice from Landlord; abandons the Premises or (b) if Tenant Lessee shall have failed fail at any time to cure a default in the performance keep or perform any of any covenant its covenants or conditions of this lease (except lease, i.e. specifically the covenant for the payment of rent), or any rule or regulation hereinafter set forth, monthly rent (and such failure is not cured within five ten (510) days after written notice thereof by Lessor to Lessee in the case of monetary default and thirty (30) days for all other defaults under the lease), then, and in any of such events, Lessor may with or without notice or demand, at Lessor's option, and without being deemed guilty of trespass and/or without prejudicing any remedy or remedies which might otherwise be used by Lessor for arrearages or preceding breach of covenant or condition of this lease, enter into and repossess said Premises and expel the Lessee and all those claiming under Lessee. In such event Lessor may eject and remove from Landlordsaid Premises all goods and effects (forcibly if necessary). This lease if not otherwise terminated may immediately be declared by Lessor as terminated, or provided however, in the case of non-monetary defaults, if default the failure is of such a nature that it cannot be completely cured in remedied within such timethirty (30) day period, the failure shall not be a default if Tenant Lessee begins correction of the failure within the thirty (30) day period and thereafter proceeds with reasonable diligence to correct the failure as soon as practicable. The termination of this lease pursuant to this Article shall rot promptly proceed not relieve Lessee of its obligations to cure such default within said five (5) daysmake the payments required herein. In the event this lease is terminated pursuant to this Article, or shall not complete if Lessor enters the curing Premises without terminating this lease and Lessor relets all or a portion of such default with due diligence; or (c) when and to the extent permitted by lawPremises, if a petition in bankruptcy Lessee shall be filed by or against Tenant or if Tenant liable to Lessor for all the reasonable costs of reletting, including necessary renovation and alteration of the leased Premises. Lessee shall make a general assignment remain liable for all unpaid rental which has been earned plus late payment charges pursuant to Paragraph 21 and for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement remainder of the term of this lease. At lease for any deficiency between the expiration net amounts received following reletting and the gross amounts due from Lessee, or if Lessor elects, Lessee shall be immediately liable for all rent and additional rent (Paragraph 19) that would be owing to the end of the three (3) day notice periodterm, this lease and less any rights of renewal or extension thereof rental loss Lessee proves could be reasonably avoided, which amount shall terminate as completely as if that were be discounted by the date originally fixed for the expiration discount rate of the term of this leaseFederal Reserve Bank, but Tenant shall remain liable as hereinafter providedsituated nearest to the Premises, plus one percent (1%).

Appears in 2 contracts

Samples: Collaboration and License Agreement, Office Lease (Cell Therapeutics Inc)

Default. 4. Landlord may terminate The occurrence of one or more of the following events will be a default by Tenant under this lease on three (3) days' noticeLease: (a) if there ever is a Guaranty of any of Tenant’s Liabilities under this Lease, a default by a Guarantor thereunder; (b) the failure to pay rent or additional rent is not paid any other required amount within three ten (310) days after written notice from Landlord; or (b) that the payment is due, although no such prior written notice will be required if Tenant shall have failed is late more than twice in any twelve-month period; (c) as provided in Articles 23 (Exhibit “F”) and 25; (d) a Transfer or attempted Transfer in violation of Article 18; (e) Tenant’s failure to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, maintain its required insurance policies within five (5) days after written Tenant becomes aware (by notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5otherwise) days, that one or shall not complete the curing more of such default with due diligenceits insurance policies have lapsed; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days[Intentionally Omitted]; or (g) if Tenant shall default beyond any grace period under Tenant’s failure to observe or perform any other lease between Tenant obligation, term or condition within the time period specified in this Lease, and Landlord; or if no time period is specified, it will be a default if this failure continues for thirty (h) if Tenant shall fail to move into or take possession of the premises within fifteen (1530) days after commencement written notice from Landlord to Tenant, but if more than thirty (30) days reasonably are required to cure, Tenant will not be in default if Tenant begins to cure within the thirty (30)-day period and then diligently completes the cure as soon as possible but in any case within ninety (90) days after the notice of default is given (in the term case of this lease. At the expiration of the three (3) day notice periodrepair or maintenance required under Section 12.2, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were cure period may be extended by delays to the date originally fixed for the expiration of the term of this leaseextent resulting from force majeure, but the aggregate cure period will not exceed one hundred eighty (180) days. The term “default” or “Tenant shall remain liable default” or similar wording as hereinafter providedused in this Lease means a default as defined in this Section 21, but notwithstanding the foregoing or anything else to the contrary, if there is an Event of Bankruptcy as described in Article 23 (Exhibit “F”), Tenant will still be deemed to have been and to be in default if it fails to pay or perform its obligations under this Lease as and when required even if Landlord does not deliver or is prevented from delivering a notice of such failure.

Appears in 2 contracts

Samples: Lease (Transmedics Inc), Lease (Transmedics Inc)

Default. 4. Landlord may If BUYER is in material default hereunder, or, on or before the date of closing as set forth herein, indicates that BUYER is unable or unwilling to perform and SELLER stands ready to perform SELLER's obligations, SELLER's sole and exclusive remedy shall be the right to terminate this lease Agreement by written notice to BUYER or BUYER's attorney and retain the deposit as reasonable liquidated damages for BUYER's inability or unwillingness to perform. It is the intention of the parties hereto freely to make advance provision on three (3) days' notice: the date of this Agreement for such event in order (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or to avoid controversy, delay and expense, and (b) if Tenant shall have failed to cure specify now a default reasonable amount agreeable to both for compensation to the SELLER for losses which may not be readily ascertainable or quantifiable, such as any of the following which might be necessary to place SELLER in the performance position SELLER would have been in had BUYER made timely performance: costs of carrying, maintaining, insuring and protecting the property; loss of interest income on the proceeds; loss of optimum market time, value and conditions; the uncertainty, delay, expense and inconvenience of finding a substitute buyer; additional commissions, fees, taxes and borrowing expenses to meet obligations entered into in anticipation of performance. In such event and upon SELLER's written notice of termination, the Premises shall be free of any covenant claims or interest of the BUYER therein by virtue of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, Agreement; provided neither party objects to same within five (5) business days after written of receipt of notice thereof from Landlordof termination. In no event shall the closing take place later than the date of closing set forth in Paragraph 4 hereof, subject to the provisions of Paragraphs 6 and 11. In the event the closing has not taken place by the end of said period, through no fault of the non-delaying party, the delaying party shall be deemed in default. If SELLER defaults hereunder, BUYER shall have such remedies as BUYER shall be entitled to at law or if default canin equity, including, but not be completely cured limited to, specific performance. The foregoing notwithstanding, a delay in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, the closing through no fault of the BUYER which results in either the loss of the BUYER’S mortgage commitment or shall not complete an adverse change in the curing terms of such default with due diligence; or (c) when commitment shall entitle BUYER to rescind this Agreement and to the extent permitted SELLER shall forthwith refund all sums heretofore paid by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession BUYER on account of the premises within fifteen (15) days after commencement purchase price, whereupon all rights and liabilities of the term parties hereto by reason of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof Agreement shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedterminate.

Appears in 2 contracts

Samples: Real Estate Purchase and Sale Agreement, Real Estate Purchase and Sale Agreement

Default. 4. Landlord may terminate The occurrence of any of the following shall constitute a material default and breach of this lease on three (3) days' noticeLease by SUBLESSEE: (a1) if rent Any failure by SUBLESSEE to pay Minimum Rent or additional rent is not Percentage Rent or any other monetary sums required to be paid within hereunder, where such failure continues for three (3) days after written notice from Landlordby SUBLESSOR to SUBLESSEE: (2) The failure to occupy or the abandonment or vacation of the Premises by SUBLESSEE; (3) The repudiation of this Lease by SUBLESSEE, any action by SUBLESSEE which renders performances by SUBLESSEE of its obligations under this Lease impossible, or (b) if Tenant shall have failed any action by SUBLESSEE which demonstrates an intent by SUBLESSEE not to cure a default in perform an obligation under this Lease or not to continue with the performance of obligations under this Lease; (4) A failure by SUBLESSEE to observe and perform any covenant other provisions of this lease Lease to be observed or performed by SUBLESSEE, where such failure continues for fifteen (except the payment of rent), or any rule or regulation hereinafter set forth, within five (515) days after written notice thereof from Landlordby SUBLESSOR to SUBLESSEE; provided, or however, that if the nature of the default is such that the same cannot reasonably be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five fifteen (15) day period, SUBLESSEE shall not be deemed to be in default if SUBLESSEE shall within such period commence such cure and thereafter diligently prosecute the same to completion; (5) days, or shall not complete the curing The making by SUBLESSEE of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a any general assignment or general arrangement for the benefit of creditors, the filing by or receive against SUBLESSEE of a petition to have SUBLESSEE adjudged bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the benefit case of any insolvency or reorganization act; or a petition filed against SUBLESSEE, the same is dismissed within sixty (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (2060) days; ), the appointment of a trustee or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted receiver to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of substantially all of SUBLESSEE'S assets or of SUBLESSEE'S interest in this Lease, where possession is not restored to SUBLESSEE within thirty (30) days, or the premises attachment, execution or other judicial seizure of substantially all of SUBLESSEE'S assets located at the Premises or of SUBLESSEE'S interest in this Lease, where such seizure is not discharged within fifteen thirty (1530) days after commencement of the term of this leasedays. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.B.

Appears in 2 contracts

Samples: 1 Agreement (American Aircarriers Support Inc), 1 Agreement (American Aircarriers Support Inc)

Default. 4. Landlord may terminate this lease If default is made in the payment of any installment of rent on three (3) days' notice: (a) the due date thereof, or if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant LESSEE shall have failed to cure a default in the performance of any covenant of this lease other Agreement (except the other than payment of rent), or any rule or regulation hereinafter set forth, within five ) and such default (5other than payment of rent) continues for 30 days after written notice thereof from Landlordthereof, or if default cannot the Leased Premises be completely cured vacated or abandoned in violation of the terms hereof, then in any such event this Lease shall terminate, at the option of the LESSOR, and LESSOR may re-enter the Leased Premises and take possession thereof, with or without force or legal process and without notice or demand, the service of notice, demand or legal process being hereby expressly waived, and upon such entry, as aforesaid, this Lease shall terminate and the LESSOR may exclude LESSEE from the Leased Premises, changing the lock on the door or doors if deemed necessary, without being liable to LESSEE for any damages or for prosecution therefore, LESSOR's rights in such timeevent may be enforced by action in unlawful detainer or other proper legal action, if Tenant and the LESSEE shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and remain liable for a sum equal to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for entire rent payable to the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement end of the term of this lease. At hereof and shall pay any loss or deficiency sustained by the expiration LESSOR on account of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed Leased Premises being let for the expiration remainder of the then current term for a sum less than the amount due hereunder. LESSOR, as agent for LESSEE without notice, may re-let the Leased Premises or any part thereof for the remainder of the then current term for a sum less than the amount due hereunder. LESSOR, as agent for LESSEE without notice, may re-let the Leased Premises or any part thereof for the remainder of the term or for any longer or shorter period as opportunity may offer, and at such rentals as may be obtained, and LESSEE agrees to pay the difference between a sum equal to the amount of this leaserent payable during the residue of the term and the net rent actually received by the LESSOR during the term after deducting all expenses of every kind for repairs, but Tenant recovering possession and re-letting the same, which difference shall remain liable as hereinafter providedaccrue and be payable monthly.

Appears in 2 contracts

Samples: Lease (Atlantic Express Transportation Corp), Lease (Atlantic Express Transportation Corp)

Default. 4. Landlord may terminate this This lease on three (3) days' notice: (a) is made upon the express condition that if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed the Lessee fails to cure a default in pay the performance of any covenant of this lease (except the payment of rent), rental reserved herein or any rule or regulation hereinafter set forth, within part thereof after the same shall become due and such failure shall continue for a period of five (5) days without the necessity of written notice thereof from the Lessor to Lessee, or it the Lessee fails or neglects to perform, meet or observe any of the Lessees other obligations hereunder and such failure or neglect shall continue for a period of thirty (30) days after written notice thereof from Landlordthe Lessor to the Lessee, then the Lessor, at any time thereafter, by written notice to the Lessee, may lawfully declare the termination hereof and reenter said premises or if any part thereof and by due process of law expel and remove the Lessee or any person or persons occupying the premises and may remove all personal property therefrom without prejudice to any remedies which might otherwise be used for the collection or arrears or rent or for other defaults of the covenants, conditions or terms of this Lease. In the event that the monthly rental payable hereunder is not paid within seven (7) day grace period then the Lessee shall, in addition to the monthly rental reserve, pay to the Lessor, a sum equal to five percent (5%) of the rent dues as a late charge in addition to the actual rental due and said late chare shall be additional rental due hereunder. Notwithstanding any other provisions of this Lease, where the curing of an alleged default requires mores than the payment of money, and the work of curing said default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default reasonably accomplished within said five (5) days, or shall not complete the time permitted and the Lessee has commenced upon the curing of such said default with due diligence; or (c) when and to diligently pursuing same, the extent permitted by law, if a petition in bankruptcy Lessee shall be filed entitled to reasonable time extensions to permit the completion of work of curing said default, as a condition precedent to any re-entry by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession Lessor termination of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedLease by Lessor.

Appears in 2 contracts

Samples: Lease Agreement (Intelligent Motor Cars Group Inc), Lease Agreement (Intelligent Motor Cars Group Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if If lessee fails to pay any rent or additional rent is not paid other amount herein provided within three ten (310) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent)same is due and payable, or if lessee fails to perform any rule or regulation hereinafter set forth, other provision hereof within five ten (510) days after written notice thereof from Landlordlessor, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed lessee dies or ceases to cure such default within said five (5) daysexist, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by lawif lessee is adjudicated a bankrupt, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general suspends business, becomes insolvent, makes an assignment for the benefit of creditors, creditors or receive the benefit enters into or petitions for a creditor's arrangement or if an attachment be levied or a lien be filed against any of any insolvency lessee's property or reorganization act; against equipment or (d) if a receiver or trustee is be appointed for any portion of Tenant's; lessee's property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which should the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall lessee fail to move into use such equipment strictly in compliance with all municipal, state and federal regulatory agency requirements then and upon the happening of any of such events the entire balance of the rent called for by this lease shall, at the election of lessor, become forthwith due and owing or any guarantor of this lease defaults on any obligation to lessor or any of the above listed events of default occur with respect to any guarantor or any such guarantor files or has filed against it a petition under bankruptcy law; and lessor shall have the right, but shall not be obligated, to exercise any one or more of the following remedies: (i) sue for and recover all rents and other amounts then xccrued, due and owing, or thereafter accruing under this lease; including the estimated residual value for the equipment if such equipment has not been returned to or has been disposed by lessor as set forth herein and including "taxes" described in Paragraph 12 of this document; (ii) take possession of the equipment and for the purpose thereof may enter the premises within fifteen on which equipment is located without court order or other process of law (15damages occasioned by such taking are expressly waived by lessee), and thereupon lessee's right to possession and use of equipment shall terminate, but lessee shall be and remain liable for the total rent for the term as set forth in Paragraph 5 hereof; (iii) days after commencement sell or lease any or all items of equipment at public or private sale for cash or on credit, or, if leased, to such persons and upon such terms as lessor shall elect, and recover from lessee all costs of taking possession, storing, repairing and selling or leasing equipment, together with an amount equal to ten percent (10%) of the actual cost to lessor of the items of equipment sold or leased and the unpaid balance of the total rent for the initial term of this lease attributable to the items of equipment sold or leased less the net proceeds of such sale or the total rent under such lease; (iv) terminate this lease as to any or all items of equipment; (v) in the event lessor elects to terminate this lease as to any or all items of equipment, to recover from lessee as to each item subject to such termination, the worth at the time of such termination, of the excess, if any, of the amount of rent reserved herein for said item for the balance of the term hereof over the then reasonable rental value of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed said item for the expiration same period of the term of this lease, but Tenant shall remain liable as hereinafter providedtime.

Appears in 2 contracts

Samples: Plastics MFG Co, Plastics MFG Co

Default. 4. Landlord may terminate this lease on three (3) days' noticeA. Tenant shall be in default hereunder in any of the following events: (ai) if Tenant shall fail to pay rent or additional rent is not paid within three ten (310) days after written notice from Landlord; of the due date thereof or (b) if Tenant shall have failed to cure a default in the performance of pay any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, other monetary amount due hereunder within five (5) days after following written notice thereof thereof; (ii) Tenant shall fail to perform any of its other obligations under this Agreement and such default shall not have been remedied within thirty (30) days after Tenant’s receipt of written notice from LandlordLandlord specifying such default and requiring it to be remedied or such additional time as is reasonably required to correct any such default; or (iii) Tenant shall default in the observance of Tenant’s insurance requirements for which there will be no notice of default or cure period or (iv) be dissolved or judicially declared bankrupt or insolvent according to law, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy any assignment shall be filed by or against made of the property of Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver receiver, guardian, conservator, trustee in involuntary bankruptcy or trustee is other similar officer shall be appointed for to take charge of all or any portion substantial part of Tenant's; ’s property by a court of competent jurisdiction, or if a petition shall be filed for the reorganization of Tenant under any provisions of law now or hereafter enacted, and such appointment proceeding is not vacated dismissed within twenty forty-five (2045) days; days after it is begun, or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period file a petition for such reorganization, or for arrangements under any other lease between provisions of such laws providing a plan for a debtor to settle, satisfy, or extend the time for the payment of debt, Landlord shall be entitled to all remedies available at law and equity, including, without limitation, the remedy of forcible entry and detainer, and Landlord may immediately or at any time thereafter without further demand or notice, mail a notice of termination of this Agreement addressed to the Tenant at its address as noted in Section 24 and Landlord; or (h) thereby terminate this Agreement, and thereafter, if Tenant shall fail to move has vacated the Premises, then Landlord may enter into and upon the Premises and repossess the same and remove any effects of Tenant in accordance with applicable law or take possession in the event that Tenant has not vacated the Premises, evict Tenant from the Premises using any method then permitted by applicable law, all of the premises within fifteen (15) days after commencement foregoing to be without prejudice to any remedies which might otherwise be used for arrears of the term rent or preceding breach of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedcovenant.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Default. 4. Landlord may terminate this lease on three (3) days' notice: If Lessee (a) if shall fail to pay the said rent or additional rent is any part thereof promptly when due, whether or not paid within three (3) days after written notice from Landlord; or demand has been given or made by Lessor, or (b) if Tenant shall have failed fail to cure a default in pay any other sum due Lessor under the performance of any covenant terms of this lease within ten (except the payment of rent), or any rule or regulation hereinafter set forth, within five (510) days after written notice thereof from Landlordby Lessor, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when shall fail to faithfully observe or perform any of the other covenants or agreements herein contained and on the part of Lessee to be observed and performed within thirty (30) days after notice of breach thereof or such longer period of time as is reasonably necessary if Lessee commences such cure within said thirty (30) days and thereafter diligently prosecutes the extent permitted by lawsame, if a petition in bankruptcy or (d) shall be filed by become bankrupt, go into receivership, or against Tenant or if Tenant shall make a general an assignment for the benefit of creditors, or receive the benefit take or have taken against Lessee any proceedings of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for kind under any portion provisions of Tenant's; property and such appointment is not vacated within twenty (20) days; the Federal Bankruptcy Act, or (e) if an execution or attachment shall be issued under which abandon the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; premises, or (f) if this lease or any estate of Lessee hereunder shall be sold under any attachment or execution, then and in any such event Lessor may at once reenter the premises become by means of a pass key or otherwise, with or without process of law, with or without notice to Lessee and remain vacantor deserted with or without terminating this lease and may upon such entry remove from said premises all persons and property and use all necessary force therefor, and in all respects take the actual, full and exclusive possession of said premises and every part thereof without incurring any liability to Lessor or to any persons occupying or using said premises for any damage sustained by reason of such entry upon said premises or such removal of persons or property therefrom; and Lessee shall indemnify and save harmless Lessor from all cost, loss or damage whatsoever arising or occasioned thereby. Upon or without such entry, Lessor may, in the event of any such default, at its option terminate this lease and/or bring suit for summary possession against Lessee without prejudice to any other remedy or right of action for arrears of rent or for any preceding or other default. Should Lessor elect to reenter, as herein provided, or should they take possession pursuant to legal proceedings or pursuant to any notice provided by law, they may either terminate this lease or they may from time to time, without terminating this lease, relet the premises or any part thereof for a period often term or terms (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of which need not be the premises within fifteen (15) days after commencement same as the remaining portion of the term of this lease) and at such rental or rentals and upon such other terms and conditions as Lessor in its reasonable discretion may deem advisable, with the right to make such alterations and repairs to the premises as may be reasonably necessary to relet. At Upon each such reletting (a) Lessee shall be immediately liable to pay to Lessor, in addition to any indebtedness other than rent due hereunder, the expiration cost and expense of such reletting and of such alterations and repairs, incurred by Lessor, and the amount, if any, by which the rent reserved in this lease for the period of such reletting (up to but not beyond the term of this lease) exceeds the amount agreed to be paid as rent for the premises for such period on such reletting; or (b) at the option of Lessor rents received from such reletting shall be applied: first, to the payment of any indebtedness other than rent due hereunder from Lessee to Lessor; second, to the payment of attorneys’ fees and real estate commissions paid and all other costs and expenses of such reletting and of such alterations and repairs; third, to the payment of rent due and unpaid hereunder and the residue, if any, shall be held by Lessor and applied in payment of future rent as the same may become due and payable hereunder, otherwise such residue shall be the sole property of Lessor. If Lessee has been credited with any rent to be received by such reletting under option (a), and such rent shall not be promptly paid to Lessor by the new tenant, or if such rentals received from such reletting under option (b) during any month be less than that to be paid during that month by Lessee hereunder, Lessee shall pay any such deficiency to Lessor. Such deficiency shall be calculated and paid monthly. No reentry or taking possession of the three (3) day notice period, premises by Lessor shall be construed as an election on their part to terminate this lease unless a written notice of such intention be given to Lessee or unless the termination hereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Lessor may at any time thereafter elect to terminate this lease for such previous default. Should Lessor at any time terminate this lease for any default, they may recover from Lessee all damages they may incur by reason of such default, including the cost of recovering the premises, reasonable attorneys’ fees, and any rights including the worth at the time of renewal or extension thereof shall terminate as completely as such termination of the excess, if that were any, of the date originally fixed amount of rent and charges equivalent to rent reserved in this lease for the expiration remainder of the stated term over the then reasonable rental value of the premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Lessee to Lessor. In determining the rental which would be payable by Lessee hereunder, subsequent to default, the rental for the unexpired term shall be computed pro rata upon the basis of the average aggregate rentals paid for the expired portions of the term of this lease, or the thirty-six (36) months next preceding such default, whichever period is the shorter. The foregoing remedies of Lessor shall not be exclusive but Tenant shall remain liable be cumulative and in addition to all other remedies now or hereafter allowed by law or elsewhere provided for. Nothing herein contained shall limit or prejudice Lessor’s right to prove and obtain as hereinafter damages arising out of any default or termination of this lease the maximum allowed by law. Lessee hereby irrevocably appoints Lessor as agents and attorneys-in-fact of Lessee to enter upon the premises in the event of any default by Lessee and to remove any personal property situated upon the premises and to place such property in storage for the account of, and at the expense of Lessee. In the event that Lessee shall not pay the cost of storing any such property after the property has been stored for a period of thirty (30) days or more, Lessor may sell any or all of such property at public or private sale in such manner and at such times and places as Lessor in its sole discretion may deem proper, without notice to Lessee or any demand upon Lessee for the payment of any part of such charges or the removal of any of such property, and shall apply the proceeds of such sale first to the cost and expenses of such sale, including attorneys’ fees actually incurred; second, to the payment of the costs of or charges for storing any such property; third, to the payment of any other sums of money which may then or thereafter be due Lessor from Lessee under any of the terms thereof; and, fourth, the balance, if any, to Lessee. Lessee hereby waives all claims for damages that may be caused by Lessor’s removing and storing furniture and property, as herein provided, and will save Lessor harmless from loss, costs or damages occasioned Lessor thereby. Any other provision in this Lease to the contrary notwithstanding, in the event of termination or reentry due to Lessee’s default hereunder, Lessor shall be obligated to use reasonable efforts to relet the premises and to mitigate damages.

Appears in 2 contracts

Samples: Medb Building Lease (Virtual Radiologic CORP), Medb Building Lease (Virtual Radiologic CORP)

Default. 4. Landlord may terminate this lease on three (3A) days' notice: If (ai) if rent or additional rent is not paid within three Tenant fails to pay any installment of Base Rent when due, (3ii) Tenant fails to pay any Additional Rent when due and such failure continues for a period of ten (10) days after written notice from Landlord; , (iii) Tenant abandons or vacates the Premises, (biv) if Tenant shall have failed fails to cure a default in the performance of observe or perform any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property 's other obligations herein contained and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other failure continues for more than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement written notice from Landlord or such longer period as may be necessary so long as Tenant has commenced curing such default and is using diligent efforts to cure the same, (v) Tenant commits an act of bankruptcy or files a petition or commences any proceeding under any bankruptcy or insolvency law, (vi) a petition is filed or any proceeding is commenced against Tenant under any bankruptcy or insolvency law and is not dismissed within thirty (30) days, (vii) Tenant is adjudicated a bankrupt, (viii) a receiver or other official is appointed for Tenant or for a substantial part of Tenant's assets or for Tenant's interests in this Lease, or (ix) any attachment or execution is filed or levied against a substantial part of Tenant's assets or Tenant's interests in this Lease or any of Tenant's property in the Premises which is not dismissed or satisfied within forty-five (45) days, then in any such event, an “Event of Default” shall be deemed to exist and Tenant shall be in default hereunder, and, at the option of Landlord, in addition to all other legal and equitable remedies: (a) the balance of the term Base Rent and all Additional Rent and all other sums to which Landlord is entitled hereunder shall be deemed to be due payable and in arrears, as if payable in advance hereunder; or (b) this Lease and the Term shall, without waiver of this leaseLandlord's other rights and remedies, terminate without any right of Tenant to save the forfeiture. At the expiration Any acceleration of the three (3) day notice periodrent by Landlord shall not constitute a waiver of any right or remedy of Landlord, and if Tenant shall fail to pay the accelerated rent upon Landlord's demand, then Landlord may thereafter terminate this lease Lease, as aforesaid. Immediately upon such termination by Landlord, Landlord shall have the right to recover possession of the Premises with or without legal process, breaking locks and replacing locks, and removing Tenant's and any rights of renewal or extension third party's property therefrom, and making any disposition thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedLandlord may deem commercially reasonable.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Default. 4If Lessor considers that Lessee has not complied with any of the covenants, conditions or obligations hereunder, whether express or implied, Lessor shall notify Lessee, in writing, by certified mail, setting out specifically in what respects it is claimed that Lessee has breached this Lease. Landlord may The receipt of such notice by Lessee and the lapse of thirty (30) days thereafter, without Lessee’s curing or commencing and diligently pursuing such action which is necessary to cure the alleged breaches shall be a default hereunder. Upon such default, Lessor may, at its option, terminate this lease on three Lease. Whether or not Lessor so terminates this Lease, Lessor has all of its rights and remedies under the law and this Lease with respect to such default. Notwithstanding any contrary provision in the foregoing paragraph, if Lessee fails to make any of the payments due under Articles 3, 4, 6 or 10 herein within thirty (3) days' notice: (a) if rent or additional rent is not paid within three (330) days after written receipt of notice of such failure from LandlordLessor, this Lease shall terminate absolutely; or (b) if Tenant provided, however, that any termination for whatever reason shall have failed to cure a default in not excuse Lessee from performing all obligations incurred under the performance of any covenant terms of this lease Lease prior to such termination. In the event that Lessee, in good faith, contests the default by court action within thirty (except the payment of rent), or any rule or regulation hereinafter set forth, within five (530) days after written receipt of such notice thereof from Landlordby Lessee, or if default canand Lessee continues to pay the payments required and perform the other obligations of this Lease, this Lease shall not be completely cured in such time, if Tenant terminated until a final decision has been reached that a default exists; Lessee shall rot promptly proceed have thirty (30) days within which to cure or commence and diligently pursue such actions necessary to cure the default within said five (5) daysor such other reasonable time as the parties shall mutually agree or the court shall determine. In the event of termination under this Article 15, or Lessee shall not complete have the curing of such default with due diligence; or (c) when and right to the extent permitted by lawremove, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditorspursuant to Article 17, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; its property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which equipment from the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice periodRed Rock Mineral Prospect, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided, but only after Lessee has performed all of its accrued obligations under this Lease. Until such performance by Lessee, Lessor shall have a lien upon all of Lessee’s property and improvements located on the Red Rock Mineral Prospect.

Appears in 2 contracts

Samples: Red Rock Mineral Lease (Sagebrush Gold Ltd.), Red Rock Mineral Lease (Sagebrush Gold Ltd.)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default If Pledgor defaults in the performance of any covenant of this lease (except the payment of rentthe principal or ------- interest under the Note when it becomes due (whether upon demand, acceleration or otherwise) or any other event of default under the Note or this Pledge Agreement occurs (including the bankruptcy or insolvency of Pledgor), the Company may exercise any and all the rights, powers and remedies of any owner of the Pledged Shares (including the right to vote the shares and receive dividends and distributions with respect to such shares) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of Texas or otherwise available to the Company under applicable law. Without limiting the foregoing, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any rule part of the Pledged Shares at any private sale or regulation hereinafter set forthpublic auction, within five (5) on not less than ten days after written notice thereof from Landlordto Pledgor, at such price or if default cannot be completely cured in prices and upon such timeterms as the Company may deem advisable. Pledgor shall have no right to redeem the Pledged Shares after any such sale or assignment. At any such sale or auction, if Tenant shall rot promptly proceed to cure the Company may bid for, and become the purchaser of, the whole or any part of the Pledged Shares offered for sale. In case of any such default within said five (5) dayssale, or shall not complete after deducting the curing costs, reasonable attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such default with due diligence; or (c) when and sale shall be applied to the extent permitted principal of and accrued interest on the Note; provided that after payment in full of the indebtedness evidenced by lawthe Note, if a petition in bankruptcy the balance of the proceeds of sale then remaining shall be filed by or against Tenant or if Tenant paid to Pledgor and Pledgor shall make a general assignment for be entitled to the benefit of creditors, or receive the benefit return of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed of the Pledged Shares remaining in the hands of the Company. Pledgor shall be liable for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) deficiency if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond remaining proceeds are insufficient to pay the indebtedness under the Note in full, including the fees of any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail attorneys employed by the Company to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedcollect such deficiency.

Appears in 2 contracts

Samples: Stock Pledge Agreement (Tmil Corp), Stock Pledge Agreement (Tmil Corp)

Default. 4If Lessor considers that Lessee has not complied with any of the covenants, conditions or obligations hereunder, whether express or implied, Lessor shall notify Lessee, in writing, by certified mail, setting out specifically in what respects it is claimed that Lessee has breached this Lease. Landlord may The receipt of such notice by Lessee and the lapse of thirty (30) days thereafter, without Lessee’s curing or commencing and diligently pursuing such action which is necessary to cure the alleged breaches shall be a default hereunder. Upon such default, Lessor may, at its option, terminate this lease on three Lease. Whether or not Lessor so terminates this Lease, Lessor has all of its rights and remedies under the law and this Lease with respect to such default. Notwithstanding any contrary provision in the foregoing paragraph, if Lessee fails to make any of the payments due under Articles 3, 4, 6 or 10 herein within thirty (3) days' notice: (a) if rent or additional rent is not paid within three (330) days after written receipt of notice of such failure from LandlordLessor, this Lease shall terminate absolutely; or (b) if Tenant provided, however, that any termination for whatever reason shall have failed to cure a default in not excuse Lessee from performing all obligations incurred under the performance of any covenant terms of this lease Lease prior to such termination. In the event that Lessee, in good faith, contests the default by court action within thirty (except the payment of rent), or any rule or regulation hereinafter set forth, within five (530) days after written receipt of such notice thereof from Landlordby Lessee, or if default canand Lessee continues to pay the payments required and perform the other obligations of this Lease, this Lease shall not be completely cured in such time, if Tenant terminated until a final decision has been reached that a default exists; Lessee shall rot promptly proceed have thirty (30) days within which to cure or commence and diligently pursue such actions necessary to cure the default within said five (5) daysor such other reasonable time as the parties shall mutually agree or the court shall determine. In the event of termination under this Article 15, or Lessee shall not complete have the curing of such default with due diligence; or (c) when and right to the extent permitted by lawremove, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditorspursuant to Article 17, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; its property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which equipment from the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice periodNorth Battle Mountain Mineral Prospect, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided, but only after Lessee has performed all of its accrued obligations under this Lease. Until such performance by Lessee, Lessor shall have a lien upon all of Lessee’s property and improvements located on the North Battle Mountain Mineral Prospect.

Appears in 2 contracts

Samples: North Battle Mountain Mineral Lease (Sagebrush Gold Ltd.), North Battle Mountain Mineral Lease (Sagebrush Gold Ltd.)

Default. 4If there exists any Event of Default, as defined below, under the terms of this Note or under the terms of the Construction Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing ("Deed of Trust"), or any other document executed in connection with this Note (herein called "Loan Documents"), Payee or the holder hereof is expressly authorized without notice or demand of any kind to make all sums of Interest and principal and any other sums owing under this Note immediately due and payable and to apply all payments made on this Note or any of the Loan Documents to the payment of any such part of any Event of Default as it may elect. Landlord may terminate this lease on three An Event of Default shall be either (31) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance payment of the whole or in any part of the several installments of this Note when due, or (2) any of the Events of Default contained in any of the Loan Documents. At any time after an Event of Default the entire unpaid balance of principal, together with Interest accrued thereon, shall, at the option of the legal holder hereof and without notice (except as specified in any Loan Documents) and without demand or presentment, become due and payable at the place of payment. Anything contained herein or in any of the Loan Documents to the contrary notwithstanding, the principal balance together with accrued Interest thereon so accelerated and declared due as aforesaid shall continue to bear Interest and shall include compensation for late payments on any and all overdue installments as described above. If an Event of Default has occurred, the failure of Payee or the holder hereof to promptly exercise its rights to declare the indebtedness remaining unpaid hereunder to be immediately due and payable shall not constitute a waiver of such rights while such Event of Default continues nor a waiver of such right in connection with any future Event of Default. Maker hereby waives presentment for payment, protest and demand, and notice of protest, demand, dishonor, nonpayment and nonperformance including notice of dishonor with respect to any check or draft used in payment of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with sum due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedhereunder.

Appears in 2 contracts

Samples: Promissory Note (Redwood Mortgage Investors IX), Redwood Mortgage Investors IX

Default. 4. Landlord may terminate this lease on three (3) days' noticeAny of the following shall constitute a "default" hereunder: (a) if Lessee fails to pay when due any rent or additional rent is not any other sum required to be paid within three (3) hereunder and such failure continues for ten days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from LandlordLessor; (b) Lessee fails to observe, keep or if default cannot be completely cured in perform any other term, covenant or condition of this Lease and such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligencefailure continues for thirty days from written notice thereof from Lessor; or (c) when and Lessee becomes insolvent or admits in writing its inability to the extent permitted by lawpay or fails to pay its debts as they become due, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general makes an assignment for the benefit of its creditors, or receive applies for or acquiesces in the benefit appointment of a receiver, trustee or other custodian for any insolvency of its properties or reorganization actassets; or (d) if a receiver any proceeding shall be commenced by or trustee is appointed against Lessee for any portion relief which includes, or might result in, any modification of Tenant'sthe obligations of Lessee under this Lease or relief under any bankruptcy or insolvency laws or other laws relating to the relief of debtors, adjustment of indebtedness, reorganization, composition or extension, unless, in the case of an involuntary proceeding not consented to or acquiesced in by Lessee, such proceeding shall have been dismissed within 90 days after the same shall have been commenced (provided that this Lease shall terminate automatically if Lessee fails to pay any rent when due hereunder after a proceeding has been commenced by or against Lessee under the United States Bankruptcy Code); property and such appointment is not vacated within twenty (20) days; or (e) if an execution Lessee voluntarily or attachment shall be issued under which involuntarily, by operation of law or otherwise, removes, sells, transfers, assigns, grants any security interest in, pledges, hypothecates, encumbers, parts with possession of or sublets this Lease or any Furniture, or attempts to do so, except only as and to the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenantextent expressly permitted hereby; or (f) if Lessee commits an event of default under the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedSublease.

Appears in 2 contracts

Samples: Sublease Agreement (Liberate Technologies), Equipment Lease (Liberate Technologies)

Default. 4. Landlord may terminate this lease If Tenant shall fail to pay any installment of rent promptly on three the day when the same shall become due, and shall continue in default for a period of ten (3) days' notice: (a) if rent or additional rent is not paid within three (310) days after receipt of written notice from thereof by Landlord; , or (b) if Tenant shall have fail to promptly keep and perform any other affirmative covenant of this Lease or to commence such performance in good faith in accordance with the terms of this Lease and shall continue in default for a period of thirty (30)days after receipt of written notice thereof by Landlord of default and demand of performance, then and in any such event, and as often as any such event shall occur, provided Tenant has failed to cure such default within ten (10) or thirty (30) days of the respective notice, Landlord may, at its sole election and in addition to any and all other remedies provided by law or contained in this Lease, declare this Lease terminated and enter into and upon the Premises and take back same from Tenant. In such event, Tenant shall not be released from the rent past due, or future rent, or from the payment of damages for the breach of this Lease by Tenant. Furthermore, in the event of a default of the terms of this Lease, the Landlord shall be reimbursed by the Tenant for all legal fees incurred by the Landlord in connection with the enforcement of the terms of this Agreement. All remedies of Landlord shall be cumulative or alternate, and the exercise of one remedy shall not waive the exercise of any other remedy. In case the Landlord shall default in the performance of any material covenant or agreement contained herein, including but not limited to Landlord interfering with Tenant's enjoyment of this lease the Premises, in particular with Tenant's access to ingress to and egress from the Premises, and said default shall continue for a period of thirty (except the payment of rent), or any rule or regulation hereinafter set forth, within five (530) days after written notice thereof to Landlord setting forth the specific nature of the default, then no rent shall be payable under this Lease for such time as such default shall continue, and the Tenant, after such thirty (30) day period to cure, may declare the Term of this Lease ended and may vacate the Premises and be relieved from Landlordall further obligations under this Lease except those that are intended to survive the termination of this Lease (e.g. the indemnification set forth in paragraph 19 above), or if default cannot be completely cured in such timeor, if Tenant shall rot promptly proceed the Landlord has not diligently begun to cure such default within material breach (e.g. by accepting bids for repair) at the end of said five thirty (530) daysday period, or shall not complete then the curing Tenant may, at its option, at any time during the continuance of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of said thirty days' notice, pay any sum necessary to perform any obligation of Landlord hereunder and deduct the three (3) day notice period, cost thereof from the rent thereafter to become due under this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedLease.

Appears in 2 contracts

Samples: Lease (Industrial Services of America Inc /Fl), Contract of Purchase (Industrial Services of America Inc /Fl)

Default. 4. Landlord may terminate Borrower shall be in default under this lease on three (3) days' notice: (a) Agreement and under each of the other Loan Documents if rent or additional rent is not paid within three (3) it shall default in the payment of any amounts due and owing under the Loan and such default continues for 5 days after written notice from Landlordthereof. Borrower shall also be in default if it should fail to timely and properly observe, keep or perform any term, covenant, agreement or condition in any Loan Document, the Warrant or in any other loan agreement, promissory note, security agreement, deed of trust, assignment, pledge or other contract securing or evidencing payment of any indebtedness of Borrower to Lender, and such default shall continue uncured for a period of thirty (30) days following written notice by Lender to Borrower; or provided, further, that if the Borrower has undertaken to cure any such default and is diligently prosecuting such cure, to the reasonable satisfaction of Lender, it shall not constitute a default under this Agreement if the subject default remains uncured beyond thirty (b30) days following written notice by Lender to Borrower. Borrower shall also be in default and all unpaid principal and accrued interest under the Loan shall become immediately due and payable: (i) if Tenant shall have failed to cure a default in Borrower commences voluntary proceeding under any provision of Title 11 of the performance of any covenant of this lease (except the payment of rent)United States Code, as now or hereafter amended, or commences any rule other proceeding, under any law, now or regulation hereinafter set forthhereafter in force, within five (5) days after written notice thereof from Landlordrelating to its own bankruptcy, insolvency, reorganization, liquidation, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and otherwise to the extent permitted by law, relief of its own debtors or the readjustment of its own indebtedness; (ii) if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general Borrower makes any assignment for the benefit of its own creditors or similar arrangement with its own such creditors; (iii) if Borrower appoints a receiver, trustee or receive similar judicial officer or agent to take charge of or liquidate any of its own property or assets; (iv) upon the benefit commencement against Borrower of any insolvency involuntary proceeding of the kind described in subsections (i), (ii) and (iii) herein; (v) any other liquidation, dissolution or reorganization actwinding up of Borrower; (vi) any consolidation, merger, recapitalization, sale of equity securities or other transaction pursuant to which the holders of the Borrower's outstanding capital stock immediately preceding such event own less than 50% of the outstanding capital stock (on a fully diluted basis) of the surviving corporation; or (dviii) if a receiver sale, lease or trustee is appointed for any portion other disposition of Tenant's; property and such appointment is not vacated within twenty (20) days; all or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession substantially all of the premises within fifteen (15) days after commencement assets of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedBorrower.

Appears in 2 contracts

Samples: Loan Agreement (Frisby Technologies Inc), Loan Agreement (Frisby Technologies Inc)

Default. 4. Landlord may terminate this lease on three (3) days' noticeIf: (ai) if rent or additional rent is not paid within three there shall be a default in payment of any Rental which shall continue for a period of ten (310) days after written following receipt by Tenant of notice thereof from Landlord; or (bii) if Tenant there shall have failed to cure be a default in any other of Tenant's obligations hereunder or if the performance Premises be abandoned or vacated by Tenant; and if such default or condition shall continue for a period of thirty (30) days following receipt by Tenant of notice from Landlord to make good such default or correct such condition; or (iii) any covenant of this lease (except proceedings under the payment of rent)present or any future Bankruptcy Act be instituted by or against Tenant, or any rule receiver or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlordtrustee be appointed for or ordered to dispose of Tenant's business or property, or if default canTenant makes any assignment or conveyance for benefit of creditors and if any such proceeding instituted against Tenant shall not be completely cured dismissed within 20 days following the date of such institution; then, in such timeevent Landlord shall have the right, if immediately or at any time thereafter, to enter upon the Premises in the name of the whole and repossess the same as of its former estate and expel Tenant and all those claiming by, through or under it, and remove their goods and effects and store the same on behalf of Tenant 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 other default hereunder and upon entry as aforesaid this Lease Agreement shall be terminated. Landlord, at its election, may effect such termination by written notice to Tenant to that effect, which shall have the same force as an entry for breach as provided in this Section. In case of such termination, Landlord shall become entitled to receive from Tenant, and Tenant shall rot promptly proceed pay to cure such default within said five (5) daysLandlord on demand, or shall not complete the curing of such default with due diligence; or (c) when and as initial liquidated damages, a sum equal to the extent permitted amount by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment which the sum of the rent and other payments called for hereunder for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement remainder of the term of this lease. At exceeds the expiration fair rental value of the three (3) day notice periodPremises for the remainder of the term. Further, this lease Tenant shall, on demand of Landlord, from time to time indemnify Landlord against all loss of rent, other payments and damages, however caused, which it may incur by reason of such termination during the remainder of the term, first giving credit to any payments made by Tenant to Landlord on account of initial liquidated damages as aforesaid. In computing such damages there shall be added such reasonable expenses as Landlord may incur in connection with such termination and/or reletting, such as legal expenses, brokerage, expenses for keeping the Premises in good order and for preparing the same for reletting and expenses and/or decorations in the Premises as way be necessary for the purpose of reletting. Landlord shall also have the right to pursue such other rights and remedies as may be allowed at law or equity against Tenant, and any rights of renewal and all other parties who may be liable. All such remedies shall be cumulative. Provided, however, if any such default be under clause (ii) above and it would take more than thirty (30) days to cure the same, Landlord shall not forfeit the lease created hereby, enter upon the Premises or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration exercise any of the term of this lease, but other remedies herein provided for such default if Tenant shall remain liable as hereinafter providedbegins the cure thereof within such period and pursues same with reasonable due diligence to completion.

Appears in 2 contracts

Samples: Lease Agreement (Spire Corp), Lease Agreement (Spire Corp)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent If Lessee shall fail to pay any rent, additional rent, or additional rent is not paid other monies due under this Lease within three fifteen (315) days after written notice from Landlordthe due date thereof; or (b) shall fail to duly and timely perform any other term, covenant, condition or provision of this Lease required to be performed; or if Tenant Lessee shall become bankrupt or insolvent, or file any debtor proceedings, or take or have failed taken against Lessee in any court pursuant to cure a default in any statute either of the performance United States or of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if state a petition in bankruptcy shall be filed by or against Tenant insolvency, or if Tenant for reorganization, or for the appointment of a receiver or trustee of all or a portion of Lessee's property; or shall make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency petition for or reorganization act; enter into an arrangement, or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted suffer this Lease to be taken under any writ of execution or occupied attachment; or if this Lease shall pass to or devolve upon, by an law or otherwise, one other than Tenant; Lessee except as otherwise provided for in this Lease, then in any one or more of such events, upon Lessor serving a written five (f5) if day notice of default upon Lessee specifying the premises become nature of said default and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At if, at the expiration of said five (5) day period, Lessee shall have failed to cure the default then, Lessor may give Lessee a three (3) day notice of cancellation of this Lease and at the expiration of such three (3) day period, this lease Lease and any rights of renewal or extension thereof the term hereunder shall terminate as completely and come to an end of the date specified in such notice of cancellation, and Lessee shall quit and surrender the demised premises to Lessor as if that were the date originally fixed for the term hereunder ended by expiration of the term of this leasetime fixed herein. In such event, but Tenant however, Lessee shall remain liable to Lessor for all monies as hereinafter provided.

Appears in 2 contracts

Samples: Second Lease Consolidation and Extension Agreement (American Portfolios Holdings Inc), Second Lease Consolidation and Extension Agreement (American Portfolios Holdings Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if Should Lessee default in the payment of any installment of rent or additional rent is not paid within three (3) days after written notice from Landlord; any other sum when due as herein provided, or (b) if Tenant shall have failed to cure a default in the performance of or breach any covenant other covenant, condition or restriction herein provided to be kept or performed by Lessee; or should Lessee fail to take out, pay for, maintain or deliver any of the insurance certificates provided in this lease Lease to be paid by Lessee at the time and in the manner herein provided, and should any such default or breach continue for a period of thirty (except the payment of rent), or any rule or regulation hereinafter set forth, within five (530) days from and after written notice thereof from Landlordis given by Lessor to Lessee (or, or if default cannot except for payment of Rent, for such longer period as may be completely cured in such time, if Tenant shall rot promptly proceed reasonably required provided that Lessee commences to cure the breach in a prompt manner and proceeds diligently thereafter to complete such cure), then, and in any such event, Lessor may at Lessor’s option terminate this Lease by giving Lessee no less than seven days’ prior written notice hereof, and thereupon, unless such default is cured within said five (5) such seven days’ period, or this Lease shall not complete the curing of such default with due diligence; or (c) when cease and terminate and Lessee’s rights in and to the extent permitted by lawPremises and all buildings and other improvements erected and placed thereon shall cease and end, if a petition in bankruptcy shall be filed by and the Lessor may, without further notice or against Tenant or if Tenant shall make a general assignment for the benefit demand of creditorslegal process, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property re-enter and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement said Premises and all buildings and other improvements thereon, remove Lessee and all persons claiming under Lessee therefrom and, except as herein otherwise provided, Lessee and all such persons shall quit and surrender possession of the term Premises and all buildings and other improvements thereon to Lessor, provided, however, that such termination shall not relieve Lessee from the payment of any sums then due and payable from Lessee or any claim for damages then accrued against Lessee hereunder, and such termination shall not prevent Lessor from recovering any such sums or damages, or from enforcing such obligations or recovering damages for any default thereof, by any remedy provided by law. Notwithstanding the foregoing, Lessee shall have the right to avoid termination and have this leaseLease continue in full force and effect provided that it pays any unpaid Rent prior to eviction. At Lessor shall use commercially reasonable efforts to relet the expiration Premises in the event of any such termination, and the three (3) day notice period, this lease rents and other sums collected upon any rights such re-letting shall be credited against any of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedLessee’s liabilities hereunder.

Appears in 2 contracts

Samples: Lease (Blue Apron Holdings, Inc.), Lease (Blue Apron Holdings, Inc.)

Default. 4. A. Landlord may terminate the term of this lease on three (3) days' noticenotice to Tenant: (a) if fixed annual rent or additional rent or any other payment due hereunder is not paid within three (3) business days when due or if Landlord shall receive rent after written notice from Landlordthe date when first due three (3) times within any twelve-month period (which shall be deemed to be a persistent default or behavior); or (b) if the Guarantor (as hereinafter defined), if any, defaults under the Guarantee (as hereinafter defined); or (c) unless otherwise specified elsewhere in this lease, if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five thirty (530) days after written notice thereof from Landlord, or if such default cannot be completely cured in such time, if Tenant shall rot not promptly proceed to cure such default within said five thirty (530) days, or shall not complete the curing of such default with due diligence; or (cd) when and to the extent irrespective that Tenant’s interest in this lease may have been assigned (with or without Landlord’s consent [if permitted herein or by law]), if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (de) if a receiver or trustee is appointed for any portion of Tenant's; ’s property and such appointment is not vacated within twenty (20) days; or (ef) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one anyone other than Tenant; or (fg) if the premises become and remain vacantor vacant or deserted for a period often over ten (10) daysdays following Tenant’s initial move-in; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) h if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease; or (i) if Tenant shall have made a material misrepresentation herein; or (j) there shall occur any breach of Section 1.B hereof or any equity owner, member, manager, director, executive officer or other principal of Tenant engaging in any activity or conduct described in items (i) and (ii) of Section 1.B hereof. At Notwithstanding anything herein to the expiration contrary set forth, Tenant shall not commit waste or cause any damage to any portion of the three (3) day notice period, this lease and Building irrespective of whether within or without the demised premises. The willful infliction of damage on any rights property or the intentional or repetitive interference with the quiet enjoyment by any other occupant of renewal or extension thereof the Building shall terminate as completely as if that were the date originally fixed for the expiration be deemed to be a conditional limitation of the term of this lease, but . Tenant shall remain liable as hereinafter providednot create any nuisance or other disturbance within the Building.

Appears in 2 contracts

Samples: Agreement of Lease (On Deck Capital Inc), Agreement of Lease (On Deck Capital Inc)

Default. 4If Applicant defaults under this Agreement, MRM may, at its option and without notice, declare the entire unpaid balance owed by Applicant under this agreement to be immediately due and payable or terminate the credit privileges of Applicant under this Agreement, or both. Landlord may terminate This occurrence of any of the following constitutes a default under this lease on three (3) days' noticeAgreement: (a) if rent Applicant fails to fulfill any obligation or additional rent is not paid within three (3) days after written notice from Landlordbreaches any provision of this agreement; or (b) if Tenant shall have failed to cure a default in Applicant or any guarantor of Applicant's indebtedness under this Agreement expires, tenninates existence, abandons its business, becomes insolvent, becomes the performance subject of any covenant of this lease (except the payment of rent)bankruptcy, receivership or similar proceedings, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make makes a general assignment for the benefit of creditors; (c) any information now or hereafter supplied or representation now or hereafter made by or on behalf of Applicant to MRM is, or receive the benefit of is believed in good faith by MRM to be inaccurate, incomplete or false in any insolvency or reorganization actmaterial respect; or (d) if any collateral that is security for Applicant's indebtedness under this agreement is lost, suffers material damage or destruction, is levied upon, becomes subject to a receiver receivership or trustee is appointed for any portion of Tenant's; property and cannot be located within five (5) days after MRM demands to inspect such appointment is not vacated within twenty (20) dayscollateral; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant event that causes MRM, in good faith, to deem itself insecure or to believe that the prospect of payment to MRM by Applicant is materially reduced. Binding Agreement, No Assig nment: This Agreement inures, to the benefit of MRM, its successors and Landlord; assigns and is binding upon Applicant's heirs, legatees, devisees, personal representatives, successors and permitted assigns. Applicant may not assign or (h) if Tenant shall fail transfer this Agreement without the prior written consent of MRM. Waivers: MRM may, at its option, not object to move into an act or take possession omission by Applicant or permit Applicant to remedy any default under the Agreement without MRM waiving the default so remedied or any other default by Applicant. Applicant waives notice of the premises within fifteen (15) days after commencement of the term default of this lease. At the expiration Agreement and waives presentment, demand, protest and notice of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provideddishonor.

Appears in 2 contracts

Samples: Application and Agreement, Application and Agreement

Default. 4. Landlord may terminate this lease on three That in the event default is made in payment of rent, or any part thereof, and such default continues for Seven (3) days' notice: (a) if rent or additional rent is not paid within three (37) days after written notice from Landlord; of such non-payment has been delivered to the Tenant, or (b) if Tenant shall have failed to cure a default in the case of non-performance or non-observance on the part of the Tenant of any covenant of this lease covenant, condition, restriction or stipulation herein contained, expressed or implied, which ought to be observed or performed by the Tenant, and which has not been expressly waived in writing by the Landlord, and such non-performance or non-observance continues for Seven (except the payment of rent), or any rule or regulation hereinafter set forth, within five (57) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and has been delivered to the extent permitted by Tenant, then the Landlord may at its option in addition to exercising any other remedy available to it in law, if a petition remedy and defect or default by the Tenant and charge to the Tenant as Additional Rent such cost and/or cancel this lease by written notice to the Tenant and, in bankruptcy shall be filed by any one or against more of such cases, all rights and interest hereby created or then existing in favour of the Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued derived under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but shall thereupon cease and determine, and the Landlord may re-enter into and upon the Demised Premises and to repossess and enjoy the same of its former estate, anything herein to the contrary notwithstanding, or the Landlord may re-let the Demised Premises as agent for the Tenant; PROVIDED, HOWEVER, that in case of such cancellation and re-entry, the Tenant shall remain continue to be liable to pay and the Landlord shall have the same remedy for the recovery of any rent then due or accruing due as hereinafter providedif this lease had not been cancelled, together with interest at the rate of Eighteen percent (18%) per annum on any overdue rent, but remained in full force and effect, and further, that any right of action of the Landlord against the Tenant in respect of any antecedent breach of any of the said covenants, conditions, restrictions and stipulations shall not thereby be prejudiced; PROVIDED FURTHER, the Landlord reserves any and all legal remedies and rights of action for damages against the Tenant for breach of the lease.

Appears in 2 contracts

Samples: Lease Agreement (Pinnacle Oil International Inc), Lease Agreement (Pinnacle Oil International Inc)

Default. 4. Landlord may terminate this lease on three (3) days' noticeIn the event that: (a) if rent LESSEE shall default in the payment of the security deposit or additional rent is not paid within three any installment of Annual Base Rent of any Additional Rent, and such default shall continue for five (35) business days after written notice from Landlordthereof; or (b) if Tenant LESSEE shall have failed to cure a default in the observance or performance of any covenant other of this lease (except the payment of rent)LESSEE’s covenants, agreements, or any rule or regulation hereinafter set forth, obligations hereunder and such default shall not be corrected within five thirty (530) days after written notice thereof from Landlordor within such longer time as may be reasonably necessary provided LESSEE commences to cure within such 30-day period and diligently pursues such cure to completion; (c) LESSEE shall be declared bankrupt or insolvent according to law, or if default canany voluntary or involuntary petition for bankruptcy is filed against LESSEE and not be completely cured in such time, if Tenant shall rot promptly proceed to cure such default discharged within said five sixty (560) days, or shall not complete the curing of such default with due diligencedays from filing; or (c) when and to the extent permitted by law, if a petition in bankruptcy any assignment shall be filed by or against Tenant or if Tenant shall make a general assignment made of LESSEE’s property for the benefit of creditors; then, while such default continues, and without demand or further notice, LESSOR shall have the right to re-enter and take complete possession of the Leased Premises, to declare the term of this Lease ended, and to remove LESSEE’s effects, without being guilty of any manner of trespass and without prejudice to any remedies which might be otherwise used for arrears of rent and other default of breach of covenant. LESSEE shall indemnify LESSOR against all loss of Rent and other payments which LESSOR may incur by reason of such termination during the remainder of the term, it being expressly understood that LESSOR shall use reasonable efforts to relet the Leased Premises and collect all rents from such reletting. If LESSEE shall default, after reasonable notice thereof, in the observance or performance of any conditions or covenants on LESSEE’s part to be observed or performed under or by virtue of any one of the provisions in any section of this Lease, LESSOR, without being under any obligation to do so and without thereby waiving such default, may after the expiration of any applicable cure period, remedy same for the account and at the expense of LESSEE, (including but not limited to application of any or all of the Security Deposit held by LESSOR). If LESSOR pays or incurs any obligations for the payment of money in connection therewith, including but not limited to reasonable attorney’s fees in instituting, prosecuting or defending any action or proceeding, such sums paid or obligations incurred, with interest at the rate of eighteen (18%) percent per annum and costs, shall be paid to LESSOR by LESSEE as additional rent. Upon default of this Lease by LESSEE, and because the payment of Rent in monthly installments is for the sole convenience of the LESSEE, the entire balance of the Rent which would accrue hereunder shall at the option of the LESSOR become immediately due and payable. The foregoing shall be subject to LESSOR’s agreement to take reasonable steps to mitigate its damages (in which case the LESSOR shall repay to LESSEE the mitigated amount against the accelerated Rent paid by LESSEE), but such mitigation shall not be construed to require LESSOR to lease to any substitute tenant: (a) at any Rent that is less than the lower of: (i) the Rent that is set forth in this Lease, or receive (ii) the benefit Rent for comparable space in the Building being marketed by LESSOR as of the date of the default; (b) for a Term that is less than the remaining balance of the Term of the Lease; (c) on any insolvency terms or reorganization actconditions that are materially less favorable to LESSOR than those set forth in the Lease; or (d) if a receiver such substitute tenant is reasonably objectionable to the LESSOR. Notwithstanding the foregoing, LESSEE agrees to pay reasonable attorney’s fees incurred by LESSOR in enforcing any or trustee is appointed for all obligations of LESSEE under this Lease at any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedtime.

Appears in 2 contracts

Samples: Attornment Agreement (Mersana Therapeutics, Inc.), Attornment Agreement (Mersana Therapeutics, Inc.)

Default. 4. Landlord may terminate this lease on three (3) days' notice: 4.1 (a) If Lessee shall default in the performance of any of its obligations set forth in Article I hereof, and if rent or additional rent is not paid within three such default shall continue for ten (310) days after written notice from Landlord; Lessor to Lessee specifying any other default or defaults, Lessee has not commenced diligently to correct the default or defaults so specified or has not thereafter diligently pursued such correction to completion, or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy assignment shall be filed made by or against Tenant or if Tenant shall make a general assignment Lessee for the benefit of creditors, or receive (c) If the benefit of any insolvency or reorganization act; Lessee's leasehold interest shall be taken on execution, or (d) if a receiver petition is filed by Lessee for adjudication as a bankrupt, or trustee is appointed for reorganization or an arrangement under any portion provision of Tenant's; property the Bankruptcy Act as then in force and such appointment is not vacated within twenty (20) days; effect, or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period involuntary petition under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises provisions of the said Bankruptcy Act is filed against Lessee and such involuntary petition is not dismissed within fifteen thirty (1530) days after commencement thereafter, then and in any of such cases Lessor may lawfully, immediately or at any time thereafter, and without further notice or demand, and without prejudice to any other remedies either enter into and upon the Premises or any part thereof, in the name of the whole, or mail a notice of termination addressed to Lessee at the Premises, and upon such entry or mailing, this Lease shall terminate, cease and be at an end. In the event that this Lease is terminated under any of the foregoing provisions contained in this Article IV, or otherwise for breach of Lessee's obligations hereunder, Lessee covenants to pay forthwith to Lessor as compensation the excess of the total rent reserved for the residue of the term of this lease. At over the expiration fair rental value of the three (3) day notice periodPremises for said residue. This covenant shall run with the land and in calculating the rent reserved there shall be included the value of all other considerations agreed to be paid or performed by Lessee for such residue of the term, and Lessee further covenants as an additional and cumulative obligation after any such ending to pay punctually to Lessor all the sums and perform all the obligations which Lessee covenants in this lease Lease to pay and any rights of renewal or extension thereof shall terminate as completely to perform in the same manner and to the same extent and at the same times as if that were this Lease had not been terminated. In calculating the date originally fixed amounts to be paid by Lessee under the foregoing covenant, Lessee shall be credited with any amount actually paid to Lessor as compensation as hereinbefore provided and also with any additional rent actually obtained by Lessor by reletting the Premises, after deducting the expenses of collecting the same. Nothing therein contained shall, however, limit or prejudice the right of Lessor to prove for and obtain in proceedings for bankruptcy or insolvency or arrangement with creditors as liquidated damages by reason of such determination an amount equal to the expiration maximum allowed by any statute or rule of law in effect at the time when, and governing the proceedings in which, such damages are to be proved, whether or not such amount be greater, equal to, or less than the amounts referred to above. The term "Lessee" as used in this Article IV shall be deemed to include the Guarantor, if any, of this lease, but Tenant shall remain liable as hereinafter providedLessee's obligations hereunder.

Appears in 2 contracts

Samples: Geerlings & Wade Inc, Geerlings & Wade Inc

Default. 4. Landlord may terminate this lease on three (3) days' notice: If Pledgor (a) if rent defaults in the payment of the principal ------- under either of the Notes when either of them becomes due (whether upon demand, acceleration or additional rent is not paid within three otherwise) or any other event of default under either of the Notes or this Agreement occurs (3including, without limitation, the bankruptcy or insolvency of Pledgor) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default defaults in the performance of any covenant of this lease (except the payment of rent), interest or any rule or regulation hereinafter set forthother amount related to either of the Notes, within the Company may (following five (5) days notice to Executive, during which the default is not cured) exercise any and all the rights, powers and remedies of any owner of the Pledged Interests (including the right to vote the Pledged Interests and receive any distributions with respect to such Pledged Interests) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of Delaware or otherwise available to the Company under applicable law. Without limiting the foregoing, after the occurrence of and during the continuance of a default, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any part of the Collateral at any private sale or public auction, on not less than ten days written notice thereof from Landlordto Pledgor, at such price or if default cannot be completely cured in prices and upon such timeterms as the Company may deem advisable. Pledgor shall have no right to redeem the Collateral after any such sale or assignment. At any such sale or auction, if Tenant shall rot promptly proceed to cure the Company may bid for, and become the purchaser of, the whole or any part of the Pledged Interests offered for sale. In case of any such default within said five (5) dayssale, or shall not complete after deducting the curing costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such default sale shall be applied to the principal of and accrued interest on the Notes and other amounts related thereto (including costs, attorneys' fees associated with due diligenceenforcement hereof); or provided that after payment -------- in full of the indebtedness evidenced by both of the Notes, the balance of the proceeds of sale then remaining shall be paid to Pledgor and Pledgor shall be entitled to the return of any of the Pledged Interests remaining in the hands of the Company. Pledgor shall be liable for any deficiency (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for liable therefor under the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (fNotes) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond remaining proceeds are insufficient to pay the indebtedness under the Notes in full, including the fees of any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail attorneys employed by the Company to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedcollect such deficiency.

Appears in 2 contracts

Samples: Executive Agreement (Etesting Labs Inc), Executive Agreement (Etesting Labs Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) 20.1 With respect to all payments required to be made by WORLDCOM hereunder, WORLDCOM shall be in default hereunder if rent or additional rent such payment is not paid within three on the date due and payable hereunder, and from and after such date such unpaid amount shall bear interest until paid at a rate equal to the rate set forth in Article XXVII. With respect to all non-payment obligations, WORLDCOM shall be in default under this Agreement thirty (330) days after QWEST shall have given WORLDCOM written notice from Landlord; or (b) if Tenant of such default unless WORLDCOM shall have failed to cure a cured such default in the performance of any covenant of this lease or such default is otherwise waived within such thirty (except the payment of rent)30) days; provided, or any rule or regulation hereinafter set forthhowever, within five (5) days after written notice thereof from Landlord, or if that where such default cannot reasonably be completely cured in within such timethirty (30) day-period, if Tenant WORLDCOM shall rot proceed promptly proceed to cure the same and prosecute such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to , the extent permitted by law, if a petition in bankruptcy time for curing such default shall be filed extended for such period of time as may be necessary to complete such curing. Events of default also shall include, but not be limited to, the making by or against Tenant or if Tenant shall make WORLDCOM of a general assignment for the benefit of its creditors, the filing of a voluntary petition in bankruptcy or receive the benefit filing of a petition in bankruptcy or other insolvency protection against WORLDCOM which is not dismissed within ninety (90) days thereafter, or the filing by WORLDCOM of any insolvency petition or reorganization act; answer seeking, consenting to, or acquiescing in reorganization, arrangement, adjustment composition, liquidation, dissolution, or similar relief. Any event of default by WORLDCOM may be waived under the terms of this Agreement at QWEST's option. Upon the failure by WORLDCOM to timely cure any such default after notice thereof from QWEST, QWEST may (di) take such action as it determines, in its sole discretion, to be necessary to correct the default, and (ii) pursue any legal remedies it may have under applicable law or principles of equity relating to such breach. Notwithstanding the above, if WORLDCOM certifies in good faith to QWEST in writing that a receiver or trustee is appointed for any portion of Tenant's; property and default has been cured, such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment default shall be issued under which the premises shall be taken or occupied or attempted deemed to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises cured unless QWEST otherwise notifies WORLDCOM in writing within fifteen (15) days after commencement of the term receipt of this lease. At the expiration of the three (3) day such notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedfrom WORLDCOM.

Appears in 2 contracts

Samples: Iru Agreement (Qwest Communications International Inc), Iru Agreement (Qwest Communications International Inc)

Default. 4. Landlord may terminate Any other provisions in this lease on three Lease notwithstanding, it shall be an event of default (3“Event of Default”) days' noticeunder this Lease if: (ai) if rent Tenant fails to pay any installment of Fixed Rent, Additional Rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if other sum payable by Tenant shall have failed to cure hereunder when due and such failure continues for a default in the performance period of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlordof such non-payment be Landlord to Tenant (which written notice shall not be required more than two times in any period of twelve (12) consecutive months), or if default cannot be completely cured in (ii) Tenant fails to observe or perform any other covenant or agreement of Tenant herein contained and such time, if failure continues after written notice given by or on behalf of Landlord to Tenant shall rot promptly proceed to cure such default within said five for more than thirty (530) days, or (iii) Tenant uses or occupies the Demised Premises other than as permitted hereunder, or (iv) Tenant assigns or sublets, or purports to assign or sublet, the Demised Premises or any part thereof other than in the manner and upon the conditions set forth herein, or (v) Tenant abandons or vacates the Demised Premises or, without Landlord’s prior written consent, Tenant removes or attempts to remove or manifests an intention to remove any or all of Tenant’s property from the Demised Premises other than in the ordinary and usual course of business, or (vi) Tenant (which, for purposes of this clause, includes any guarantor hereunder) files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the Unites States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not complete be dismissed, discharged or denied within sixty (60) days after the curing of such default with due diligence; filing thereof, or Tenant consents or acquiesces in the filing thereof, or (cvii) when and if Tenant is a banking organization, Tenant files an application for protection, voluntary liquidation or dissolution applicable to banking organization, or (viii) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant’s property or of the extent permitted by law, if a petition in bankruptcy Demised Premises shall be filed appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or if Tenant consents to or acquiesces in such appointment, or (ix) Tenant shall generally not pay Tenant’s debts as such debts become due, or shall make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; shall admit in writing its inability to pay its debts generally as they become due, or (dx) if a receiver any of the foregoing occurs as to any guarantor or trustee is appointed for any portion surety of Tenant's; property ’s performance under this Lease, or such guarantor or surety defaults on any provision under its guaranty or suretyship agreement. The notice and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant provisions in clauses (i) and Landlord; or (hii) if Tenant above shall fail have no application to move into or take possession the Events of Default referred to in clauses (iii) through (ix) above or, to the premises within fifteen extent applicable (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedx).

Appears in 2 contracts

Samples: Agreement of Lease (Sinclair Broadcast Group Inc), Agreement of Lease (Sinclair Broadcast Group Inc)

Default. 4. Landlord may terminate Except for a default under the preceding paragraph for which immediate right of termination is given to Owner, if Tenant fails to pay any installment of rent within ten (10) days after written notice, or to perform any other covenant under this lease on three within thirty (3) days' notice: (a) if rent or additional rent is not paid within three (330) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in Owner stating the performance nature of any covenant of the default, Owner may cancel this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property reenter and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises using all necessary force to do so; provided, however, that if the nature of such default other than for nonpayment of rent is such that the same cannot reasonably be cured within fifteen such thirty (1530) days after commencement day period, Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion. Notwithstanding such retaking of possession by Owner, Tenant's liability for the rent provided herein shall not be extinguished for the balance of the term of this lease. At Upon such reentry, Owner may elect either (1) to terminate this lease, in which event Tenant shall immediately pay to Owner a sum equal to that by which the expiration then cash value of the three (3) day notice period, total rent reserved under this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration balance of the lease term exceeds the then reasonable rental value of the premises for the balance of the lease term; or (2) without terminating this lease, to relet all or any part of the premises as the agent of and for the account of Tenant upon such terms and conditions as Owner may deem advisable, in which event the rents received on such reletting shall be applied first to the expenses of reletting and collection, including attorney's fees and real estate commissions paid, and thereafter to pay of all sums due or to become due Owner hereunder. If a sufficient sum shall not be thus realized to pay such sums and other charges, Tenant shall pay Owner any deficiency monthly, and Owner may bring an action therefor as such monthly deficiency shall arise. In the event of any such retaking of possession of the premises by the Owner as herein provided, Tenant shall remove all personal property located thereon and, upon failure to do so upon demand of Owner, Owner may remove and store the same in any place selected by Owner, including but not limited to a public warehouse, at the expense and risk of Tenant. If Tenant shall fail to pay any sums due hereunder or the cost of storing any such property after it has been stored for a period of thirty (30) days or more, Owner may sell any or all of such property at public or private sale and shall apply the proceeds of such sale first, to the cost of such sale; second, to the payment of the charges for storage, if any; and third, to the payment of any other sums of money which may be due from Tenant to Owner under the terms of this lease, but and the balance, if any, to Tenant. Tenant hereby waives all claims for damages that may be caused by Owner's lawfully reentering and taking possession of the premises or lawfully removing and storing the property of Tenant as herein provided, and will save Owner harmless from loss, costs, or damages occasioned by Owner thereby, and no such lawful reentry shall remain liable as hereinafter providedbe considered or construed to be a forcible entry.

Appears in 2 contracts

Samples: Agreement of Lease (Evergreenbancorp Inc), Agreement of Lease (Evergreenbancorp Inc)

Default. 4If the Company does not have a sufficient number of shares of Common Stock available to satisfy the Company's obligations to a Holder of Debentures upon receipt of a Conversion Notice or is otherwise unable to issue such shares of Common Stock in accordance with the terms of this Agreement and such condition shall remain unremedied for a period of thirty (30) days after the Company's receipt of a Conversion Notice (a "CONVERSION DEFAULT"), then from and after the fifth (5th) day following a Conversion Default (which for all purposes shall be deemed to have occurred upon the expiration of the applicable cure period following the Company's receipt of the applicable Conversion Notice), each Holder of the Debentures shall have the right to demand from the Company immediate redemption of the Debentures in cash at a redemption price per Debenture equal to 120% of the then Outstanding Principal Amount of the Debenture (including Debentures for which a Conversion Notice has not yet been sent), plus accrued but unpaid interest on the Debenture. Landlord Within three days of the occurrence of a Conversion Default, the Company shall notify each Holder in writing of such occurrence. No notice of redemption may terminate this lease be delivered by a Holder subsequent to receipt by such Holder of notice from the Company (sent by overnight or 2-day courier with a copy sent by facsimile) of availability of sufficient shares of Common Stock to perfect conversion (a "POST-DEFAULT CONVERSION") of all the Debentures; PROVIDED FURTHER that such right to demand redemption shall be reinstated if the Company shall thereafter fail to perfect such Post-Default Conversion by delivery of Common Stock certificates in accordance with the applicable provisions of Paragraph 6(b) hereof and payment of all accrued and unpaid interest in cash with respect thereto within five business days of delivery of the notice of Post-Default Conversion. In addition to the foregoing, upon a Conversion Default, the rate of interest on three all of the Debentures (3including Debentures for which a Conversion Notice has not yet been sent), shall, to the maximum extent allowed by applicable law, be permanently increased by two percent (2%) days' notice: per annum (ai.e., from 6% to 8%) if rent commencing on the first day of the thirty (30) day period (or part thereof) following a Conversion Default; an additional rent two percent (2%) per annum commencing on the first day of each of the second and third such thirty (30) day periods (or part thereof); and an additional one percent (1%) per annum on the first day of each consecutive thirty (30) day period (or part thereof) thereafter until such securities have been duly converted or redeemed as herein provided; provided that in no event shall the rate of interest exceed the lower of 20% or the highest rate permitted by applicable law to be charged on commercial loans. Any such interest which is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent)when due shall, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the maximum extent permitted by law, if accrue interest until paid at the rate from time to time applicable to interest on the Debentures as to which the Conversion Default has occurred. In the event the Company pays any interest on the Debentures and it is determined that such interest was paid at a petition rate in bankruptcy excess of the legal maximum rate, then that portion of the interest payment representing an amount in excess of the legal maximum rate shall be filed by or against Tenant or if Tenant shall make deemed a general assignment for the benefit payment of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property principal and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which applied against the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession principal of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedDebenture.

Appears in 2 contracts

Samples: A Debt Subordination Agreement (Ross Systems Inc/Ca), Ross Systems Inc/Ca

Default. 422.01. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if This Lease and the term and estate hereby granted are subject to the limitation that whenever Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall hereafter make a general an assignment for the benefit of creditors, or receive shall file a voluntary petition under any bankruptcy or insolvency law, or (subject to clause (a) below) an involuntary petition alleging an act of bankruptcy or insolvency shall be filed against Tenant under any bankruptcy or insolvency law, or whenever a petition shall be filed by or (subject to clause (a) below) against Tenant under the benefit reorganization provisions of the United States Bankruptcy Code or under the provisions of any insolvency law of like import, or reorganization act; whenever a petition shall be filed by Tenant, under the arrangement provisions of the United States Bankruptcy Code or under the provisions of any law of like import, or whenever a permanent receiver of Tenant, or of or for the property of Tenant, shall be appointed, then Landlord (a) if such event occurs without the acquiescence of Tenant, as the case may be, at any time after the event continues for ninety (90) days, or (db) if such event is voluntary by Tenant, at any time after the occurrence of any such event, may give Tenant a receiver or trustee is appointed for any portion notice of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which intention to end the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if term of this Lease at the premises become and remain vacantor deserted for a period expiration often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant days from the date of service of such notice of intention, and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At upon the expiration of the three said ten (310) day notice periodperiod this Lease and the term and estate hereby granted, this lease and any rights of renewal whether or extension thereof not the term shall theretofore have commenced, shall terminate as completely with the same effect as if that day were the date originally fixed for the expiration of the term Expiration Date of this leaseLease, but Tenant shall remain liable for damages as hereinafter providedprovided in Article 24 hereof. Landlord acknowledges that at the time this Lease is executed a segregated account of Tenant is currently subject to a rehabilitation proceeding in Wisconsin and Tenant’s parent company, Ambac Financial Group Inc., is currently subject to a federal bankruptcy proceeding and neither of those current proceedings shall have an adverse affect on this Lease or be considered a default under this Article 22 provided the Lease is not transferred to the segregated account of Tenant, the general account of Tenant does not become encompassed in the rehabilitation proceeding in Wisconsin and Tenant does not become subject to its parent company’s bankruptcy proceeding.

Appears in 2 contracts

Samples: Lease (Ambac Financial Group Inc), Settlement, Discontinuance and Release Agreement (Ambac Financial Group Inc)

Default. 4. 5.01 Landlord may terminate this lease Lease on three ten (310) days' Business Days’ notice: (a) if rent Fixed Annual Rent or additional rent Additional Rent is not paid within three five (35) days after written notice from LandlordLandlord that the same is past due; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease Lease (except the payment of rentRent), or any rule or regulation hereinafter set forth, within five thirty (530) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot not promptly proceed to cure such default within said five thirty (530) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; ’s property and such appointment is not vacated within twenty sixty (2060) days; or (e) if an execution or attachment shall be issued under which the premises Premises shall be taken or occupied or attempted to be taken or occupied by an one anyone other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three ten (310) day Business Day notice period, this lease Lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term Term of this leaseLease, but Tenant shall remain liable as hereinafter provided.

Appears in 2 contracts

Samples: Sublease Agreement (Delcath Systems, Inc.), Lease (Delcath Systems Inc)

Default. 4. Landlord may terminate The occurrence of one or more of the following events will be a default by Tenant under this lease on three (3) days' noticeLease: (a) if there ever is a Guaranty of any of Tenant’s Liabilities under this Lease, a default by a Guarantor thereunder; (b) the failure to pay rent or additional rent is not paid any other required amount within three ten (310) days after written notice from Landlord; or (b) that the payment is due, although no such prior written notice will be required if Tenant shall have failed is late more than twice in any twelve-month period; (c) as provided in Articles 23 (Exhibit “F”) and 25: (d) a Transfer or attempted Transfer in violation of Article 18; (e) Tenant’s failure to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, maintain its required insurance policies within five (5) days after written Tenant becomes aware (by notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5otherwise) days, that one or shall not complete the curing more of such default with due diligenceits insurance policies have lapsed; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days[Intentionally Omitted]; or (g) if Tenant shall default beyond any grace period under Tenant’s failure to observe or perform any other lease between Tenant obligation, term or condition within the time period specified in this Lease, and Landlord; or if no time period is specified, it will be a default if this failure continues for thirty (h) if Tenant shall fail to move into or take possession of the premises within fifteen (1530) days after commencement of the term of this lease. At the expiration of the three (3) day written notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this leasefrom Landlord to Tenant, but if more than thirty (30) days reasonably are required to cure, Tenant shall remain liable will not be in default if Tenant begins to cure within the thirty (30)-day period and then diligently completes the cure as hereinafter providedsoon as possible but in any case within ninety (90) days after the notice of default is given (in the case of repair or maintenance required under Section 12.2. this cure period may be extended by delays to the extent resulting from force majeure, but the aggregate cure period will not exceed one hundred eighty (180) days. The term “default” or “Tenant default” or similar wording as used in this Lease means a default as defined in this Section 21, but notwithstanding the foregoing or anything else to the contrary, if there is an Event of Bankruptcy as described in Article 23 (Exhibit “F”), Tenant will still be deemed to have been and to be in default if it fails to pay or perform its obligations under this Lease as and when required even if Landlord does not deliver or is prevented from delivering a notice of such failure.

Appears in 2 contracts

Samples: Lease (TransMedics Group, Inc.), Lease (TransMedics Group, Inc.)

Default. 4. Landlord may terminate this lease on three (3) days' noticeIt shall be an event of default hereunder if: (ai) if Lessee fails to pay any rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant other charges due hereunder when due and such failure shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within continue for five (5) days; (ii) Lessee fails to perform any other covenant herein and such failure shall continue for ten (10) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant by Lessor to Lessee; (iii) Lessee shall rot promptly proceed cease to cure such default within said five do business as a going concern; (5iv) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be is filed by or against Tenant Lessee under the United States Bankruptcy Code or any amendment thereto (including a petition for reorganization or an arrangement), which if Tenant shall make involuntary is not discharged within ninety (90) days; (v) Lessee makes a general assignment for the benefit of its creditors; (vi) Lessee sells, transfers or receive disposes of all or substantially all of its assets or property; (vii) Lessee attempts to remove, sell, transfer, encumber, sublet or part with possession of the benefit of any insolvency or reorganization actEquipment; or (dviii) if upon any Event of Default under that certain Securities Purchase Agreement dated as of the date hereof between Lessor and Lessee or any Related Document (as defined therein). In the event of the occurrence of a receiver or trustee is appointed default: (1) all sums to become due hereunder for any portion the then-remaining term of Tenant's; property this Lease shall, at Lessor's option, become due and such appointment is not vacated within twenty (20) dayspayable forthwith; or (e2) if an execution the Equipment shall upon Lessor's demand be surrendered in accordance with Paragraph 9 or attachment shall Lessor and/or its agents may, without notice or liability or legal process, enter into any premises under the control of Lessee, or any agent of Lessee, where the Equipment may be issued under which or where Lessor believes the premises shall be taken Equipment to be, and repossesses all or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if any part of the premises become Equipment, discontinue and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under separate all thereof from any other lease between Tenant property and Landlord; using all force necessary or (h) if Tenant shall fail permitted by applicable law to move into or take do so. Lessee hereby expressly waives all further rights to possession of the premises within fifteen (15) days after commencement Equipment and all claims for injuries suffered through or caused by such repossession. Should any legal proceedings be instituted by Lessor to recover any moneys due or to become due hereunder and/or for possession of any or all of the term of this lease. At Equipment, Lessee shall pay all expenses incurred by Lessor in exercising or attempting to exercise its rights, powers and remedies herein conferred or now or hereafter existing, at law or in equity, or in collecting or attempting to collect moneys due or to become due under the expiration of the three (3) day notice periodLease, this lease including, without limitation, reasonable attorneys' fees and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedexpenses.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Bpi Packaging Technologies Inc), Security Agreement (Bpi Packaging Technologies Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default If Buyer defaults in the performance of its obligations hereunder, Seller shall be entitled to te r mi n a te this Contract, and retain the Xxxxxxx Money Deposit as liquidated damages, as the Parties agree that in the event of a default hereunder actual damages would be difficult to determine with any covenant reasonable certainty and that the Xxxxxxx Money Deposit, after review and consideration, is a reasonable estimate of the damages that Seller would suffer as a result of Buyer's default (except as set forth in Section 23 below). If Closing does not occur due to a default by Seller in the full and timely performance of any of its obligations hereunder, Buyer, as its sole and exclusive remedy, may elect to terminate this Contract and receive a refund of the Xxxxxxx Money Deposit, provided that if (a) Closing does not occur solely as a result of Seller’s failure to execute and deliver t h e S pe ci a l Warranty Deed on the Closing Date in accordance with Section 10 of this lease Contract, and (except b) Seller’s failure to execute and deliver the payment of rent)Special Warranty Deed is not related to Mechanics Liens, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or and (c) when Buyer has affirmatively waived in writing all of the contingencies under this Contract, and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion Buyer has performed all of Tenant's; property and such appointment is its obligations under this Contract, including without limitation, payment of the Purchase Price, then upon notice to Seller not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other more than Tenant; or (f) if the premises become and remain vacantor deserted for a period often ten (10) days; business days after Buyer becomes aware of such failure by Seller and provided such action is filed within thirty (30) days thereafter, Buyer may seek specific performance of Seller’s obligation to execute and deliver a Special Warranty Deed (but not to resolve the Mechanics Liens or (g) if Tenant shall default beyond any grace period under to perform any other lease between Tenant and Landlord; or (h) if Tenant obligation under this Contract). Buyer’s failure to seek specific performance under this Section shall fail constitute Buyer’s election to move into or take possession seek a return of the premises within fifteen (15) days after commencement Xxxxxxx Money Deposit as its sole remedy upon Seller’s default. In consideration of the term of this lease. At the expiration of the three (3) day notice periodforegoing right to seek specific performance, this lease and Buyer waives any rights of renewal right it may now or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedhereafter have to seek any damages from Seller.

Appears in 2 contracts

Samples: Real Estate Contract, Real Estate Contract

Default. 4This Lease and Tenant’s right to possession of the Premises is made subject to and conditioned upon Tenant performing all of the covenants and obligations to be performed by Tenant hereunder, at the times and pursuant to terms and conditions set forth herein. Landlord may terminate The following events shall each be an event of default by Tenant under this lease on three Lease (3) days' notice: “Default”): (a) if rent Tenant fails to pay any Rent or additional rent other charge when the same is not paid due; (b) Tenant fails to perform any other obligation to be performed by Tenant within three the time or times set forth herein; (3c) days after written notice from LandlordTenant makes any material misrepresentation, or commits any fraud or criminal act; (d) Tenant shall become insolvent, make a transfer in fraud of its creditors, make an assignment for the benefit of its creditors, files or has filed against it a petition in bankruptcy, has a receiver, trustee or liquidator appointed over a substantial portion of its property or this Lease, or is adjudicated insolvent; or (be) if Tenant vacates or abandons the Premises for more than thirty (30) days. In the event any monetary Default shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within continue for five (5) days after receipt of written notice thereof from Landlord, or if default canin the event any non-monetary Default shall continue for ten (10) days after receipt of written notice from Landlord, or in the event Tenant becomes in Default for the same general reason three (3) or more times during the Term (regardless of whether or not Tenant subsequently cures such Defaults); then, in addition to all other remedies afforded Landlord under this Lease, at law or in equity, Landlord may terminate this Lease, or terminate Tenant’s right of possession to the Premises without terminating this Lease, by delivery of written notice to Tenant. In either event, Landlord shall have the right to dispossess Tenant, or any other person in occupancy, together with their property, and re-enter the Premises. No such dispossession of Tenant or re-entry by Landlord, or Landlord’s voluntary acceptance of the keys to the Premises, shall constitute or be completely cured in construed as an election by Landlord to terminate this Lease, unless Landlord delivers written notice to Tenant specifically terminating this Lease. Upon such timere-entry, if Tenant shall rot promptly proceed be liable for all expenses incurred by Landlord in recovering the Premises including, without limitation, clean-up costs, legal fees, removal, storage or disposal of Tenant’s property, and restoration costs. In the event Landlord elects to cure such default terminate this Lease, Tenant shall immediately vacate the Premises and pay to Landlord all Rent accrued through the effective date of termination, together with any late fees and interest thereon, plus an amount equal to all tenant concessions initially granted to Tenant including, but not limited to, any free or reduced Rent, any interior finish constructed within said five (5) daysthe Premises, or any contribution paid to Tenant in lieu thereof. In addition thereto, the remainder of the Rent payable by Tenant through the Expiration Date of this Lease, less the fair market rental value of the Premises over the same period (net of all expenses and vacancy periods reasonably projected by Landlord to be incurred in connection with the reletting of the Premises) shall be accelerated and become immediately due and payable. In the event Landlord elects not complete to terminate this Lease, but only to terminate Tenant’s right of possession to the curing Premises, Tenant shall immediately vacate the Premises and pay to Landlord all Rent accrued through the effective date of repossession, together with any late fees and interest thereon. Upon repossession, Landlord may use reasonable efforts to mitigate its damages and relet the Premises upon terms and conditions satisfactory to Landlord; however, Landlord shall have no duty to prioritize the reletting of the Premises over the leasing of other vacant space within the Property. Tenant shall remain liable for all Rent accruing after the date of repossession (together with all late fees and interest), payable monthly as such default with due diligence; Rent accrues, in an amount equal to the Rent payable under this Lease, less the rent (if any) collected by Landlord from any reletting. Landlord shall have the right to make repairs, alterations, and additions in or (c) when to the Premises and redecorate and remodel the same to the extent permitted deemed necessary by law, if a petition Landlord in bankruptcy shall be filed by or against Tenant or if connection with any reletting of the Premises; and Tenant shall make a general assignment for pay to Landlord the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises cost thereof within fifteen (15) days after commencement receipt of Landlord’s statement. In addition to any other remedy afforded Landlord under this Lease, Tenant hereby grants to Landlord a continuing security interest in all of Tenant’s goods, wares, equipment, fixtures, furniture, and all proceeds thereof (collectively, “Security”) situated within the Premises. In the event Tenant shall be in Default under this Lease, Tenant shall not remove any such Security from the Premises without the prior written consent of Landlord; and Landlord shall have all rights and remedies under the Uniform Commercial Code including, without limitation, the right to sell such Security at public or private sale upon five (5) days’ prior written notice to Tenant. Tenant hereby agrees to execute financing statements and other reasonable instruments necessary or desirable, in Landlord’s discretion, to perfect any security interest hereby created; and, in the event Tenant should fail or refuse to execute any such financing statements or instruments, Landlord shall be granted a limited power of attorney to execute such statements/instruments in the name and on behalf of Tenant and perfect Landlord’s security interest in the Security. The lien hereby created shall be in addition to any statutory lien granted under the laws of the term State of Minnesota. No action by Tenant after final judgment for possession of the Premises shall reinstate this Lease, and Tenant waives any and all rights of redemption in the event Tenant is judicially dispossessed. Should Landlord elect not to exercise any of its rights in the event of a Default, it shall not be deemed a waiver of such rights as to subsequent Defaults. No payment by Tenant or receipt by Landlord of a lesser amount than that stipulated to be paid shall be deemed to be anything other than a payment on account; nor shall any endorsement or statement on any check or letter accompanying any payment be deemed an accord and satisfaction; and Landlord may accept any payment without prejudice to Landlord’s right to recover the balance or pursue any other remedy under this Lease. Landlord reserves the right to apply any monies received from Tenant, regardless of how designated, to any outstanding Rent, interest, late fees or other amounts then owed to Landlord under this Lease. All of the aforesaid rights of Landlord shall be in addition to any remedies which Landlord may have at law or in equity; Landlord shall have the right to pursue any one or all of such remedies; and no election of remedy by Landlord shall preclude Landlord from subsequently pursuing any of Landlord’s other remedies. Tenant shall pay all costs and attorney’s fees incurred by Landlord from enforcing the covenants of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedLease.

Appears in 2 contracts

Samples: Office Building Lease (Eargo, Inc.), Office Building Lease (Eargo, Inc.)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if 14.1 If Tenant shall have failed to cure a be in default in the performance of any covenant of this lease (except the payment of rent), rental or any rule or regulation hereinafter set forth, within other charges provided for herein and such default shall continue for a period of five (5) days after written notice thereof from LandlordLandlord to Tenant, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make be in default in the performance of any of the other covenants, promises or agreements herein contained for Tenant to be kept and performed and such default shall continue for thirty (30) days after Landlord shall have notified Tenant in writing of the existence of such default, or if Tenant is adjudicated a general bankrupt, or if a receiver is appointed for Tenant’s property, including Tenant’s interest in the Leased Premises, and such receiver is not removed within thirty (30) days after appointment, or if, whether voluntarily or involuntarily, Tenant takes advantage of any debtor relief proceeding under present or future law whereby the rent, or any part thereof, is or is proposed to be reduced or payment thereof deferred, or if Tenant makes an assignment for the benefit of creditors, or receive if the benefit Leased Premises or Tenant’s effects or interest therein shall be levied upon or attached under process against Tenant, not satisfied or dissolved within thirty (30) days from such levy or attachment, or if Tenant abandons the Leased Premises, then, and in any or all said events, Tenant shall be deemed to have breached this Lease and Landlord shall have the right at its option, without limitation of any insolvency other rights available to Landlord at law or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.in equity to:

Appears in 2 contracts

Samples: Confirmation Agreement (Vera Bradley, Inc.), Confirmation Agreement (Vera Bradley, Inc.)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if If the Lessee shall, at any time, be in default of the payment of either rent or additional rent is not paid within any payments required of Lessee hereunder or any part thereof, Lessor shall provide written notice of such default and Lessee shall have three days subsequent to the issuance of said notice to cure the monetary default before Lessor may invoke any other remedies available under the terms of this Lease, or if Lessee shall be in default of any of the other covenants and conditions of this Lease to be kept, observed, and performed by Lessee for more than thirty (330) days after the giving of written notice from Landlord; or by the Lessor to the Lessee of such default, provided, however, that if the nature of the specified obligation(s) is such that more than thirty (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (530) days after written notice thereof from Landlordare required for performance, then lessee shall not be in default if it commences performance within such 30 day period and thereafter diligently prosecutes the same to completion, or if default cannot be completely cured in such time, if Tenant Lessee shall rot promptly proceed to cure such default within said five (5) daysvacate or abandon the premises, or shall not complete fail to take possession of the curing of such default with due diligence; premises and actively operate its business therein, or (c) when and to the extent permitted by law, if a petition in bankruptcy Lessee shall be filed by or against Tenant or if Tenant shall make adjudged a general assignment for the benefit of creditorsbankrupt, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises appointed and shall not be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or discharged within thirty (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (1530) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were from the date originally fixed for of such appointment, then and in any such events the expiration of Lessor may re-enter the term of this leaseleased premises by summary proceedings or otherwise, but Tenant shall remain and thereupon may expel all persons and remove all property therefrom, without becoming liable as hereinafter provided.to prosecution therefor, and may, among other remedies elect:

Appears in 2 contracts

Samples: Lease Extension and Amendment Agreement (Express Scripts Inc), Lease Agreement (Express Scripts Inc)

Default. 4. Landlord Purchaser may terminate this lease on three (3) days' noticeOrder in whole or in part upon written notice to Seller if Seller: (a) if rent fails to deliver products or additional rent is perform services within the Order schedule; (b) fails to make progress that endangers any scheduled performance, and does not paid cure such failure within three a period of ten (310) days (or such longer period as Purchaser may authorize in writing) after receipt of written notice from LandlordPurchaser specifying such failure; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) fails promptly to provide adequate written assurances of performance satisfactory to Purchaser when it appears that Seller may not perform in accordance with the Order and to the extent permitted assurances are requested by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization actPurchaser; or (d) if a receiver or trustee is appointed fails to perform any other material provisions of this Order. If Purchaser terminates part of the work, Seller shall diligently continue performance of the remainder. Purchaser may terminate this Order at any later time for any portion of Tenant's; property and such appointment continuing or subsequent breach. If Seller’s default is not vacated within twenty (20) days; or (e) if an execution or attachment the result of excusable delay, as defined in Section 7, Seller shall be issued under which the premises liable to Purchaser for any excess costs for repurchasing similar products or services and other damages incurred. If it is determined Seller was not in default, such termination shall be taken or occupied or attempted converted to a termination for convenience under Section 9. In no event shall Seller be entitled to profit on terminated work remaining to be taken performed. Upon any termination for default of Seller, Purchaser may require Seller to transfer title and deliver, as directed by Xxxxxxxxx, (a) any completed goods, and (b) such partially completed goods and materials, parts, tools, fixtures, plans, drawings, information, and contract rights as Seller has produced or occupied by an one other than Tenant; or (f) if acquired for the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession performance of the premises within fifteen (15) days after commencement of the term terminated part of this leaseOrder; and Seller shall, at Purchaser’s direction, protect and preserve property in Seller’s possession in which Purchaser has an interest. At the expiration of the three (3) day notice period, this lease Payment for delivered goods or other materials accepted by Purchaser and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration protection and preservation of property shall be in an amount mutually agreed upon by the term of this lease, but Tenant shall remain liable as hereinafter providedparties.

Appears in 2 contracts

Samples: pacsswitchgearllc.com, www.sslnynj.com

Default. 416.01. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) It shall be a Default if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent)Base Rent or Additional Rent, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for default in providing the benefit of creditorsIn-Kind Services required herein, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment default shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted continue for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement due, or if, without the consent of Landlord, as required hereunder, Tenant shall sell, assign, or (without Landlord’s approval) sublet this Lease, or if default be made in the performance of any of the term other covenants and agreements in this Agreement contained on the part of this lease. At the expiration Tenant to be kept and performed for thirty (30) days after notice (or such longer period of time as shall be reasonably required to cure such default so long as a cure is commenced within such period and diligently prosecuted to completion thereafter), or if Tenant shall fail to comply with any of the three statutes, ordinances, rules, orders, regulations and requirements of a Governmental Authority, or if Tenant shall file or there be filed against Tenant a petition in bankruptcy or arrangement, or Tenant be adjudicated bankrupt or make an assignment for the benefit of creditors or take advantage of any insolvency act and such proceeding is not stayed or dismissed within sixty (360) day notice perioddays thereafter, this lease Landlord may: (a) cure such default, and any rights costs and expenses, plus interest at the rate set forth in Section 16.03, incurred by Landlord therefor shall be deemed Additional Rent, or (b) if Landlord so elects, at any time thereafter, terminate this Agreement, on giving to Tenant five (5) business days notice in writing of renewal or extension thereof Landlord’s intention so to do, and this Agreement shall terminate as completely as if that were expire and come to an end on the date originally fixed in such notice on the terms set forth for an Early Termination, or (c) by summary proceedings enter the expiration Leased Premises and repossess the same as the former estate of the term Landlord and expel Tenant and those claiming under Tenant without being deemed guilty of this lease, but Tenant shall remain any manner of trespass or liable as hereinafter providedto prosecution thereof and without prejudice to any other remedies which Landlord may have.

Appears in 1 contract

Samples: Lease to Purchase Agreement

Default. 4. Landlord may terminate Any other provisions in this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in Lease notwithstanding, the performance occurrence of any covenant of the following shall be an event of default under this lease Lease (except the payment each, an "Event of rent)Default"): (i) Tenant fails to pay any installment of Fixed Rent, Additional Rent or any rule or regulation hereinafter set forth, other sum payable by Tenant hereunder within five (5) days after the same is due and payable under this Lease; (ii) Tenant fails to observe or perform any other covenant or agreement of Tenant herein contained and such failure continues after written notice thereof from Landlordgiven by or on behalf of Landlord to Tenant for more than ten (10) days; provided, however, that if Tenant is proceeding diligently to cure any such default but such cannot reasonably be cured within said ten (10) day period, Tenant shall have such additional amount of time to cure as is reasonably necessary; (iii) Tenant uses or occupies the Demised Premises other than as permitted hereunder; (iv) Tenant assigns or sublets, or if default canpurports to assign or sublet, the Demised Premises or any part thereof other than in the manner and upon the conditions set forth herein; (v) Tenant abandons or vacates the Demised Premises or without Landlord's prior written consent, or Tenant removes or attempts to remove or manifests an intention to remove any or all of Tenant's property from the Demised Premises other than in the ordinary and usual course of business; (vi) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not be completely cured in such timedismissed, if Tenant shall rot promptly proceed to cure such default discharged or denied within said five sixty (560) daysdays after the filing thereof, or shall not complete Tenant consents or acquiesces in the curing filing thereof, (vii) a custodian, receiver, trustee or liquidator of such default with due diligence; Tenant or (c) when and to of all or substantially all of Tenant's property or of the extent permitted by law, if a petition in bankruptcy Demised Premises shall be filed appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or if Tenant consents to or acquiesces in such appointment; or (viii) Tenant shall generally not pay Tenant's debts as such debts become due, or shall make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property shall admit in writing its inability to pay its debts generally as they become due. The notice and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant provisions in clauses (i) and Landlord; or (hii) if Tenant above shall fail have no application to move into or take possession the Events of the premises within fifteen Default referred to in clauses (15iii) days after commencement of the term of this lease. At the expiration of the three through (3viii) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedabove.

Appears in 1 contract

Samples: Agreement of Lease (Electronics Boutique Holdings Corp)

Default. 4. Landlord (a) Lessor or Sublessor may terminate in writing declare this lease on three Agreement in default ("Default") if: (1) Sublessee breaches its obligation to pay Rent or any other sum when due and fails to cure the breach within ten (10) days; (2) Sublessee breaches any of its insurance obligations under SECTION IX hereof, or Sublessee fails to comply with the provisions of SECTION XXIII of the Master Lease; (3) days' notice: Sublessee breaches any of its other obligations hereunder and fails to cure that breach within thirty (a) if rent or additional rent is not paid within three (330) days after written notice from Landlordthereof; (4) any representation or (b) if Tenant warranty 101 made by Sublessee in connection with this Agreement shall have failed to cure a default be false or misleading in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five material respect; (5) days after written notice thereof from Landlord, Sublessee becomes insolvent or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed ceases to cure such default within said five do business as a going concern; (56) days, or shall not complete the curing of such default with due diligenceany Equipment is illegally used; or (c7) when and to the extent permitted by law, if a petition in bankruptcy shall be is filed by or against Tenant Sublessee under any bankruptcy or insolvency laws and, if Tenant shall make a general assignment for the benefit of creditorssuch petition is filed against Sublessee, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment petition is not vacated dismissed within twenty ninety (2090) days; (8) Sublessee shall have terminated its corporate existence, consolidated with, merged into, or conveyed or leased substantially all of its assets as an entirety to any person (esuch actions being referred to as an "Event"), unless not less than sixty (60) if days prior to such Event: (x) such person is organized and existing under the laws of the United States or any state, and executes and delivers to Lessor and Sublessor an execution or attachment agreement containing an effective assumption by such person of the due and punctual performance of this Sublease; and (y) Lessor and Sublessor are reasonably satisfied as to the creditworthiness of such person; (9) effective control of Sublessor's voting capital stock, issued and outstanding from time to time, is not retained by the present stockholders (unless Sublessee shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or have provided sixty (f) if the premises become and remain vacantor deserted for a period often (1060) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail ' prior written notice to move into or take possession Sublessor of the premises within fifteen (15) days after commencement proposed disposition of the term stock and Lessor and Sublessor shall have consented thereto in writing). Any provision of this lease. At Agreement to the expiration of the three (3) day notice periodcontrary notwithstanding, this lease Lessor and any Sublessor may exercise all rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedand remedies hereunder independently with respect to each Schedule.

Appears in 1 contract

Samples: Administrative Services Agreement (Savvis Communications Corp)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three The following events shall be deemed to be events of default by Tenant under this Lease: (3i) days after written notice from Landlord; or (b) if Tenant shall have failed fail to cure a default in the performance pay any installment of any covenant of this lease (except the payment of rent), Rent or any rule other charge or regulation hereinafter set forth, assessment against Tenant pursuant to the terms hereof within five (5) days after written the date notice of such late payment is received by Tenant; provided, however, if more than two (2) payments due of Tenant hereunder in any one (1) calendar year are not made until after notice of such late payment is received by Tenant, then it shall be an event of default hereunder by Tenant if any subsequent payment due of Tenant hereunder in the same calendar year is not made within ten (10) days of the date when due; (ii) Tenant shall fail to comply with any term, provision, covenant or warranty made under this Lease by Tenant, other than the payment of the Rent or any other charge or assessment payable by Tenant, and shall not cure such failure within fifteen (15) days after notice thereof from Landlordto Tenant, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed longer period as is necessary to cure such default default, provided Tenant is diligently pursuing same, and such cure is effectuated in any event within said five sixty (560) days, or shall not complete the curing of such default with due diligencedays after notice thereof is given to Tenant; or (ciii) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant any guarantor of this Lease shall make a general assignment for the benefit of creditors, or receive shall admit in writing its inability to pay its debts as they become due, or shall file a petition in bankruptcy, or shall be adjudicated as bankrupt or insolvent, or shall file a petition in any proceeding seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall file an answer admitting or fail timely to contest the benefit material allegations of a petition filed against it in any insolvency such proceeding; (iv) a proceeding is commenced against Tenant or reorganization actany guarantor of this Lease seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, and such proceeding shall not have been dismissed within ninety (90) days after the commencement thereof; or (dv) if a receiver or trustee is shall be appointed for all or substantially all of the assets of Tenant or of any portion guarantor of Tenant'sthis Lease; property and such appointment is not vacated within twenty (20vi) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises Demised Premises as provided in this Lease; (vii) Tenant shall do or permit to be done anything which creates a lien upon the Demised Premises or the Project and such lien is not removed or discharged within fifteen (15) days after commencement Tenant is provided notice of the term of this lease. At the expiration of the three filing thereof; (3viii) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.fail to return a properly

Appears in 1 contract

Samples: Lease Agreement (Profit Recovery Group International Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in 18.1 In the performance case of any covenant default by Lessee in any of the terms and/or conditions of this lease Lease (except other than any default occasioned by the payment institution of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general proceedings and/or an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment creditors which shall be issued under which governed by Section 15 of this Lease), Lessor, at Lessor's option, may recover the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) Premises if the premises become and remain vacantor deserted such default continues uncured for a period often of thirty (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (1530) days after commencement Lessor notifies Lessee of such default and of Lessor's intention to recover the term Premises. Upon the giving of this lease. At such notice and the expiration of the three such thirty (330) day notice period, unless Lessee shall have cured the default during that time, Lessor shall be entitled to the benefit, without further notice (all statutory notice requirements being hereby expressly waived), of all the provisions of law for speedy recovery of lands and tenements as now are in force or which may hereafter be enacted and/or to reenter, repossess and/or relet the Premises as the agent of Lessee for any balance of the then term and collect rent therefor. And in any event, the Lessor may distrain, by any legal means, for any overdue installment of rent or rental payment and may enter the property for such purpose by force if necessary without liability, which liability is hereby expressly waived. In the event of reletting by the Lessor as agent for the Lessee, the reletting shall be on such terms, conditions and rentals as the Lessor deems proper, and the proceeds that may be collected from same, less the expense of reletting, including any broker's commission and costs for the repair, restoration and/or preparation of the Premises for reletting, shall be applied against the rental to be paid by Lessee, and Lessee shall be liable for any balance that may be due under this lease Lease or any renewal, and such reletting shall not operate as termination of this Lease or any renewal or as a waiver or postponement of any right of the Lessor against the Lessee. Any recovery of the Premises, institution of proceedings to recover the Premises, reentry, repossession and/or reletting hereunder shall not operate as, nor shall it be interpreted or construed as a termination of this Lease or any renewal, and shall not relieve Lessee of its liability and obligations under this Lease and Lessee shall in all events remain liable for the full amount of Base Rent and Additional Rent provided for in this Lease and for any deficiency or loss of such rent; Lessor, at Lessor's option, may recover such rent and/or damages for the loss of rent in separate actions from time to time as Lessee's liability and/or obligation to pay rent accrue or would have accrued had Lessee not defaulted. Any such recovery, institution of legal proceedings, reentry, repossession, and/or reletting shall be in addition to and without prejudice to any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedand/or remedies which Lessor may otherwise have.

Appears in 1 contract

Samples: Lease (Easton Bancorp Inc/Md)

Default. 4. Landlord may terminate this lease on three (3A) days' notice: If, (a) if rent or additional rent is not paid within three (3) days after written notice from LandlordCooperator fails to keep any of Cooperator’s agreements mentioned in this Lease other than Cooperator’s agreement to pay rent; or or, (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), Cooperator or any rule or regulation hereinafter set forthother occupants of the Apartment engage in objectionable conduct; or, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to if the extent permitted Apartment is vacated by lawall authorized occupants; or, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver the Apartment is damaged because of the negligence or trustee is appointed for any portion misuse of Tenant's; property and such appointment is not vacated within twenty (20) daysCooperator, Cooperator’s family, servants, or visitors, or guests; or (e) if an Cooperator shall sell, encumber, assign or otherwise lose title to all or any part of the stock of the Company which he shall own; or (f) if any execution or attachment shall be issued under which against Cooperator or any of the premises shall be taken or occupied or attempted to be Cooperator’s property resulting in the Apartment being taken or occupied by an one someone other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) daysCooperator; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant Cooperator shall fail to move into or take possession of the premises Apartment within fifteen (15) days after commencement the beginning of the term Lease term; or, (h) if the Apartment is not in continuous bona fide use as the principal residence of this lease. At Cooperator, then, in any one or more of such events, the expiration Company may serve upon Cooperator written notice stating the nature of said default, and if such default has not been cured and corrected or objectionable conduct stopped within five (5) days, then at the end of said five (5) days, the Company may serve upon Cooperator three (3) day days, notice periodof the Company’s election to end the Lease, this lease and any rights upon the end of renewal or extension thereof said three (3) days the Lease shall terminate as completely end as if that the end of such (3) day period were the date originally fixed for day stated to be the expiration end of the term of this leaseLease, and the Cooperator shall then give up the Apartment to the Company, but Tenant the Cooperator shall remain liable responsible to the Company as hereinafter providedstated in this agreement, however, where the default involves a violation of Rule 13 or of Rule 14 or otherwise relates to the unlawful trade, manufacture, distribution, storage and/or sale or marihuana or controlled substances, or where the conduct constitutes and imminent threat to the viability of the project or the safety of other tenants or occupants of the project, no notice as set forth in this paragraph need be given by the landlord to the Tenant.

Appears in 1 contract

Samples: Agreement

Default. 4. Landlord may terminate this lease on three (3) days' notice: If (a) if Tenant (i) shall fail to pay the rent or additional rent is not paid any charge due hereunder within three (3) five days after Landlord notifies Tenant in writing that such amount is delinquent or, (ii) if Landlord has within the preceding 12-month period previously delivered such a written notice from Landlord; of delinquency to Tenant, Tenant shall fail to pay the rent or any charge due within five days after the same is due, or (b) if Tenant shall have failed fail to cure a perform any of the other covenants or conditions herein contained on the part of Tenant, and such default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) shall continue for thirty days after written notice thereof from Landlordshall have been given to Tenant (except that such thirty day period shall automatically be extended for an additional period of time, or up to a maximum of ninety days, reasonably necessary to cure such default, if such default cannot be completely cured in within such time, if thirty day period and provided Tenant shall rot promptly proceed to cure commences the process of curing such default within said five (5) daysthirty day period and diligently pursues such cure to completion), or shall not complete the curing of such default with due diligence; or (c) when and to the extent except as permitted by lawthis Lease, if a petition in bankruptcy shall be filed this Lease shall, by or against act of Tenant or by operation of law or otherwise pass to any party other than Tenant, or (d) if Tenant shall abandon or vacate the Premises or permit the Premises to become vacant without paying the rent or any charges required by this Lease, or (e) Tenant or any guarantor of this Lease shall become insolvent or bankrupt or make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (df) if a receiver or trustee is appointed for any portion of Tenant's; 's property or that of any guarantor of this Lease shall be appointed and such appointment is receiver or trustee, as the case may be, shall not vacated be discharged within twenty (20) days; 30 days after such appointment, then in any such case, Landlord may, upon notice to Tenant, recover possession of and re-enter the Premises without affecting Tenant's liability for past rent and other charges due or (e) if an execution or attachment future rent and other charges to accrue hereunder. In the event of any such default, Landlord shall be issued under which entitled to recover from Tenant, in addition to rent and other charges equivalent to rent, all other damages sustained by Landlord on account of the premises breach of this Lease, including, but not limited to, the costs, expenses and reasonable attorneys' fees incurred by Landlord in enforcing the terms and provisions hereof and in re-entering and recovering possession of the Premises and for the cost of repairs, alterations and brokerage and reasonable attorneys' fees connected with the reletting of the Premises. Further, at the election of Landlord, Landlord shall be taken have the right to declare this Lease terminated and canceled, without any further rights or occupied obligations on the part of Landlord or attempted to be taken or occupied by an one Tenant (other than Tenant; 's obligation for rent and other charges due and owing through the date of termination), so that Landlord may relet the Premises without any right on the part of Tenant to any credit or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond payment resulting from any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession reletting of the premises within fifteen (15) days after commencement Premises. In case of the term a default under this Lease, Landlord may, in addition to terminating this Lease, or in lieu thereof, pursue such other remedy or combination of this leaseremedies and recover such other damages for breach of tenancy and/or contract as are available at law or otherwise. At After any requisite written notice and the expiration of the three (3) day notice applicable cure period, this lease Landlord may, but shall not be obligated to, cure any default by Tenant (specifically including, but not by way of limitation, Tenant's failure to obtain insurance, make repairs, or satisfy lien claims) and any rights of renewal or extension thereof whenever Landlord so elects, all costs and expenses paid by Landlord in curing such default, including without limitation reasonable attorneys' fees, shall terminate be payable to Landlord as completely as if that were additional rent due on demand, together with interest at the rate provided in Paragraph 26 below from the date originally fixed for of the advance to the date of repayment by Tenant to Landlord. A waiver by Landlord or Tenant of a breach or default by Tenant or Landlord under the terms and conditions of this Lease shall not be construed to be a waiver of any subsequent breach or default nor of any other term or condition of this Lease, and the failure of Landlord or Tenant to assert any breach or to declare a default by Tenant or Landlord shall not be construed to constitute a waiver thereof so long as such breach or default continues unremedied. No receipt of money by Landlord from Tenant after the expiration or termination of this Lease or after the service of any notice or after the commencement of any suit, or after final judgment for possession of the term Premises shall reinstate, continue or extend the Term of this leaseLease or affect any such notice, but Tenant shall remain liable as hereinafter provideddemand or suit.

Appears in 1 contract

Samples: Metavante Corp

Default. 4. Landlord may terminate this lease on three (3) days' notice: If (a) if Tenant shall fail to pay the rent or additional rent is not paid within three (3) days after written notice from Landlord; any charge or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the other payment of rent), or any rule or regulation hereinafter set forth, due hereunder within five (5) days after the same is due, or (b) Tenant shall fail to perform any of the other covenants or conditions herein contained on the part of Tenant, and such default shall continue for ten (10) days after written notice thereof from Landlordshall have been given to Tenant (except that such ten (10) day period shall be automatically extended for an additional period of time reasonably necessary to cure such default, or if such default cannot be completely cured in within such time, if ten (10) day period and provided Tenant shall rot promptly proceed to cure commences the process of curing such default within said five ten (510) daysday period and continuously and diligently prosecutes such cure to completion), or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted if this Lease shall, by law, if a petition in bankruptcy shall be filed by or against act of Tenant or by operation of law or otherwise, pass to any party other than Tenant in violation of Section 23, or (d) if Tenant shall abandon or vacate the Premises or permit the Premises to become vacant, or (e) Tenant shall become insolvent or bankrupt or make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (df) if a receiver or trustee is appointed for any portion of Tenant's; 's property shall be appointed and such appointment is receiver or trustee, as the case may be, shall not vacated be discharged within twenty thirty (2030) days; days after such appointment, or (eg) if an execution or attachment is levied against Tenant's property, or (h) Tenant shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall in default beyond any grace period under any other lease between Landlord (or any affiliate of Landlord) and Tenant (or an affiliate of Tenant), then in any such case, Landlord may, upon notice to Tenant, recover possession of and Landlord; reenter the Premises without affecting Tenant's liability for past rent and other charges due or (h) if Tenant future rent and other charges to accrue hereunder. In the event of any such default, Landlord shall fail be entitled to move into or take recover from Tenant, in addition to rent and other charges equivalent to rent, all other damages sustained by Landlord on account of the breach of this Lease, including, but not limited to, the costs, expenses and attorney fees incurred by Landlord in enforcing the terms and provisions hereof and in reentering and recovering possession of the premises within fifteen Premises and for the cost of repairs, alterations and brokerage and attorney fees connected with the reletting of the Premises. Further, at the election of Landlord, Landlord shall have the right to declare this Lease terminated and cancelled, without any further rights or obligations on the part of Landlord or Tenant (15other than Tenant's obligation for rent and other charges due and owing through the date of termination), so that Landlord may relet the Premises without any right on the part of Tenant to any credit or payment resulting from any reletting of the Premises. In case of a default under this Lease, Landlord may, in addition to terminating this Lease, or in lieu thereof, pursue such other remedy or combination or remedies and recover such other damages for breach of tenancy and/or contract as available at law or otherwise. -14- Upon prior notice to Tenant, Landlord may, but shall not be obligated to, cure any default by Tenant (specifically including, but not by way of limitation, Tenant's failure to obtain insurance, make repairs, or satisfy lien claims) days and whenever Landlord so elects, all costs and expenses paid by Landlord in curing such default, including without limitation attorney fees, shall be payable to Landlord as additional rent due on demand, together with interest at the rate provided in Section 27 below from the date of the advance to the date of repayment by Tenant to Landlord. A waiver by Landlord of a breach or default by Tenant under the terms and conditions of this Lease shall not be construed to be a waiver of any subsequent breach or default nor of any other term or condition of this Lease, and the failure of Landlord to assert any breach or to declare a default by Tenant shall not be construed to constitute a waiver thereof so long as such breach or default continues unremedied. No receipt of money by Landlord from Tenant after the expiration or termination of this Lease or after the service of any notice or after the commencement of any suit, or after final judgment for possession of the term Premises shall reinstate, continue or extend the Term of this lease. At the expiration of the three (3) day notice periodLease or affect any such notice, this lease and any rights of renewal demand or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedsuit.

Appears in 1 contract

Samples: Office Lease (Alterra Healthcare Corp)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if Lessor may in writing declare this Agreement in default if: Lessee breaches its obligation to pay rent or additional rent is not paid any other sum when due and fails to cure the breach within three ten (310) days; Lessee breaches any of its insurance obligations herewith under Section X; Lessee breaches any of its other obligations hereunder and fails to cure that breach within thirty (30) days after written notice from Landlordthereof: any representation or warranty made by or on behalf of Lessee in connection with this Agreement shall be false or misleading in any material respect; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), Lessee or any rule guarantor becomes insolvent or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed ceases to cure such default within said five (5) days, or shall not complete the curing of such default with due diligencedo business as a going concern; or (c) when and to the extent permitted by law, if any Equipment is illegally used; a petition in bankruptcy shall be is filed by or against Tenant Lessee or any guarantor under any bankruptcy or insolvency laws; there is a revocation or anticipatory repudiation of any guarantor's obligations under any guaranty issued in connection with this Agreement; Lessee or any guarantor shall be in default under any material obligation and the applicable grace period with respect thereto shall have expired; Lessee or any guarantor shall have terminated its existence, consolidated with, merged into or conveyed or leased substantially all of its assets as an entirety to any person (such actions being referred to as an "Event"), unless not less than sixty (60) days prior to such Event: (x) such person is organized and existing under the laws of the United States or any state, and executes and delivers to Lessor an agreement containing an effective assumption by such person of the due and punctual performance of this Lease or guaranty thereof, as the case may be, and (y) Lessor is reasonably satisfied as to the credit worthiness of such person; if Lessee or any guarantor is a privately held corporation and effective control of Lessee's or any guarantor's voting capital stock, issued and outstanding from time to time, is not retained by the present stockholders (unless Lessee shall have provided sixty (60) days' prior written notice to Lessor of the proposed disposition of stock and Lessor shall have consented thereto in writing); or if Tenant shall make Lessee or any guarantor is a general assignment for publicly held corporation as a result of or in connection with a material change in the benefit ownership of creditorsLessee's or any guarantor's capital stock, Lessee's or receive the benefit of any insolvency guarantor's debt-to-worth ratio equals or reorganization act; exceeds twice Lessee's or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession guarantor's debt-to-worth ratio as of the premises within fifteen (15) days after commencement of the term date of this leaseLease (unless Lessor shall have given its prior written consent thereto), if Lessee or any guarantor is a natural person, any death or incompetency of Lessee or such guarantor. At the expiration of the three (3) day notice periodAs used herein, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided."

Appears in 1 contract

Samples: Master Lease Agreement (Nexstar Pharmaceuticals Inc)

Default. 4. Landlord may terminate (1) If tenant defaults beyond any applicable notice and grace period, in fulfilling any of the covenants of this lease on three (3) days' notice: (a) if including the covenants for the payment of rent or additional rent is not paid within three (3) days after written notice from Landlordrent; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), demised premises become vacant or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, deserted; or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which against Tenant or any of Tenant's property whereupon the demised premises shall be taken or occupied or attempted to be taken or occupied by an one someone other than Tenant; or if this lease be rejected under Section 365 of Title II of the U.S. Code (f) if the premises become and remain vacantor deserted for a period often (10) daysBankruptcy Code); or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen thirty (1530) days after the commencement of the term of this lease. At , of which fact Owner shall be the sole judge; then, in any one or more of such events, upon Owner serving a written fifteen (15) days notice upon Tenant specifying the nature of said default and upon the expiration of said fifteen (15) days, if Tenant shall have failed to comply with or remedy such default, or if the three said default or omission complained of shall be of a nature that the same cannot be completely cured or remedied within said fifteen (315) day period, and if Tenant shall not have diligently commenced curing such default within such fifteen (15) day period, and shall not thereafter with reasonable diligence and in good faith proceed to remedy or cure such default, then Owner may serve a written five (5) days notice periodof cancellation of this lease upon Tenant, and upon the expiration of said five (5) days, this lease and any rights of renewal or extension thereof the term thereunder shall terminate end and expire as fully and completely as if that the expiration of such five (5) day period were the date originally day herein definitely fixed for the end and expiration of this lease and the term of this lease, thereof and Tenant shall then quit and surrender the demised premises to Owner but Tenant shall remain liable as hereinafter provided.

Appears in 1 contract

Samples: Agreement of Lease (Harvey Electronics Inc)

Default. 4. Landlord may If BUYER is in default hereunder, or, on or before the date of closing as set forth herein, indicates that BUYER is unable or unwilling to perform and SELLER stands ready to perform SELLER's obligations, SELLER's sole remedy shall be the right to terminate this lease Agreement by written notice to BUYER or BUYER's attorney and retain the down payment as reasonable liquidated damages for BUYER's inability or unwillingness to perform. It is the intention of the parties hereto freely to make advance provision on the date of this Agreement for such event in order (a) to avoid controversy, delay and expense, and (b) to specify now a reasonable amount agreeable to both for compensation to the SELLER for losses which may not be readily ascertainable or quantifiable, such as any of the following which might be necessary to place SELLER in the position SELLER would have been in had BUYER made timely performance: costs of carrying, maintaining, insuring and protecting the property; loss of interest income on the proceeds; loss of optimum market time, value and conditions; the uncertainty, delay, expense and inconvenience of finding a substitute buyer; additional expenses to meet obligations entered into in anticipation of performance. In such event and upon SELLER's written notice of termination, the Premises shall be free of any claims or interest of the BUYER therein by virtue of this Agreement. In no event shall the closing, or any extension thereof, take place later than three (3) days' notice: (a) if rent or additional rent is weeks from the date of closing set forth in Paragraph 4 hereof, subject to the provisions of Paragraphs 6 and 11. In the event closing has not paid within taken place by the end of said three (3) days after written notice from Landlord; or (b) if Tenant week period, through no fault of the non-delaying party, the delaying party shall be deemed in default. If Seller defaults hereunder, BUYER shall have failed such remedies as Buyer shall be entitled to cure at law or in equity, including, but not limited to, specific performance. The foregoing notwithstanding, a default delay in the performance closing through no fault of any covenant BUYER which results in either the loss of BUYER’s mortgage commitment or an adverse change in the terms of such commitment shall entitle BUYER to rescind this contract and SELLER shall forthwith refund all sums heretofore paid by BUYER on account of the purchase price, whereupon all rights and liabilities of the parties hereto by reason of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy agreement shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if at an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedend.

Appears in 1 contract

Samples: Purchase and Sales Agreement

Default. 4. If Tenant shall default in the payment of Rent herein reserved when due and fails to cure such default within five (5) business days after written notice of such default is given to Tenant by Landlord; or if Tenant shall be in default in performing any of the terms or provisions of this Lease other than the provisions requiring the payment of Rent, and fails to cure such default within thirty (30) days after written notice of such default is given to Tenant by Landlord may terminate this lease on three or, if such default cannot be cured within thirty (330) days' notice: , Tenant shall not be in default if Tenant promptly commences and diligently proceeds the cure to completion as soon as possible and in all events within ninety (a90) days; or if rent Tenant is adjudicated a bankrupt; or additional rent if a permanent receiver is appointed for Tenant’s Property and such receiver is not paid removed within three ninety (390) days after written notice from LandlordLandlord to Tenant to obtain such removal; or (b) if if, whether voluntarily or involuntarily, Tenant shall have failed to cure a default in the performance takes advantage of any covenant of this lease (except debtor relief proceedings under any present or future law, whereby the payment of rent)Rent or any part thereof, is, or any rule is proposed to be, reduced or regulation hereinafter set forth, payment thereof deferred; or if Tenant’s effects should be levied upon or attached and such levy or attachment is not satisfied or dissolved within forty-five (545) days after written notice thereof from Landlord, or if default cannot be completely cured in such timeLandlord to Tenant to obtain satisfaction thereof; or, if Tenant shall rot promptly proceed to cure such default within said five (5) daysis an individual, or shall not complete in the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession event of the premises within fifteen (15) days after commencement death of the term of this lease. At individual and the expiration failure of the executor, administrator or personal representative of the estate of the deceased individual to have assigned the Lease within three (3) day notice periodmonths after the death to an assignee approved by Landlord; then, this lease and in any rights of renewal said events, Landlord, at its option, may exercise any or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration all of the term of this lease, but Tenant shall remain liable as hereinafter providedremedies set forth in Section 27 below.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Fund Viii Lp)

Default. 4. Landlord may terminate The occurrence of any one or more of the following ------- events shall constitute an event of default by Sublessee under this lease on three (3) days' noticeSublease: (a) if rent or additional rent is not paid any failure by Sublessee to pay any monetary obligation of Sublessee hereunder within three (3) days after written notice from Landlord; or the same is due hereunder, (b) if Tenant shall have failed any failure by Sublessee to cure a default in the performance of comply with any covenant other provision of this lease Sublease, which failure shall continue for ten (except the payment of rent), 10) or any rule or regulation hereinafter set forth, within five (5) more days after written notice thereof from Landlord, or Sublessor to Sublessee (provided that if default compliance cannot reasonably be completely cured in accomplished within such time, if Tenant such period shall rot promptly proceed to cure be extended a reasonable period so long as Sublessee has commenced and is diligently pursuing such default within said five (5) days, or shall not complete the curing of such default with due diligencecompliance); or (c) when and to the extent permitted by lawSublessee shall become insolvent, if a petition in or bankruptcy proceedings shall be filed commenced by or against Tenant Sublessee, or if Tenant a receiver shall be appointed to control any part of Sublessee's business or assets, or Sublessee shall make a general an assignment for the benefit of creditors. Upon or at any time after the occurrence of an event of default, Sublessor shall be entitled at its option, to exercise, concurrently or successively, any one or more of the following rights and remedies: (a) to pay any sum required to be paid by Sublessee hereunder to any person or entity which Sublessee has failed to pay, and to perform any obligation required to be performed by Sublessee, for the account of Sublessee; any amount so paid by Sublessor shall be deemed to constitute additional rent hereunder and shall be paid by Sublessee to Sublessor forthwith on demand; (b) to bring suit for the collection of any amounts for which Sublessee may be in default, or receive for the benefit specific performance of any insolvency other covenant devolving upon Sublessee for performance, and for damages for the non-performance thereof, all without entering into possession of the Premises or reorganization actterminating this Sublease; (c) to re-enter the Premises, by summary proceedings or otherwise, with or without process of law, and take possession thereof, without thereby terminating this Sublease, whereupon Sublessor may (di) if a receiver expel all persons and remove all property therefrom, without thereby becoming liable in trespass or trustee is appointed for otherwise, and (ii) relet all or any portion of Tenant's; property and the Premises for such appointment is not vacated within twenty periods (20) days; either longer or (e) if an execution shorter than, or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of coterminous with, the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal Sublease); it being agreed that no legal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.other action initiated by Sublessor shall

Appears in 1 contract

Samples: Broadband Sports Inc

Default. 4. Landlord may terminate this lease on three (3) days' noticeThe occurrence of any of the following shall constitute an "EVENT OF DEFAULT" hereunder: (ai) if rent or additional rent is not paid within Subtenant fails to pay any Rent when due and such failure continues for three (3) days after written notice from Landlordof such failure (provided, however, that Subtenant shall not be entitled to such notice if Sublandlord has given notice to Subtenant of one or more previous such failures within a 12-month period, in which event such failure shall constitute a default hereunder upon the expiration of three (3) days after such payment was due without notice), or (ii) if Subtenant fails to perform or observe any of the terms of this Sublease other than those requiring the payment of Rent and such failure continues for ten (10) days after Sublandlord gives written notice of said failure; provided, however, that if the grace period for such default provided to Sublandlord under the Prime Lease is shorter than ten (10) days, the length of Subtenant's grace period shall be two (2) days less than Sublandlord's grace period and if the nature of the default is such that the default cannot reasonable be cured within ten (10) days, no default shall exist so long as Subtenant promptly commences and diligently prosecutes such cure to completion; or (biii) if Tenant the subleasehold hereby created shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent)be taken on execution, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlordby other process of law, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy any assignment shall be filed by or against Tenant or if Tenant shall make a general assignment made of Subtenant's property for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver receiver, guardian, conservator, trustee in bankruptcy or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment similar officer shall be issued under which the premises shall be taken appointed to take charge of all or occupied any part of Subtenant's property by a court of competent jurisdiction, or attempted to be taken or occupied if a petition is filed by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period Subtenant under any other lease between Tenant bankruptcy or insolvency law, or if a petition is filed against Subtenant under any bankruptcy law and Landlord; or the same shall not be dismissed within thirty (h) if Tenant shall fail to move into or take possession of the premises within fifteen (1530) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were from the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedupon which it is filed.

Appears in 1 contract

Samples: Office Lease (Chemconnect Inc)

AutoNDA by SimpleDocs

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) This Lease is made upon the express condition that if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if the Tenant shall have failed fails to cure a default in pay the performance of any covenant of this lease (except the payment of rent), rental reserved hereunder or any rule or regulation hereinafter set forthpart thereof after the same shall become due, within five and such failure shall continue for a period of thirty (530) days after written notice thereof from Landlordthe Landlord to Tenant, or if the Tenant fails or neglects to perform, meet or observe any of Tenant’s other obligations hereunder and such failure or neglect shall continue for a period of ninety (90) days after written notice thereof from the Landlord to Tenant, then the Landlord, at any time thereafter, by written notice to the Tenant, may lawfully declare the termination hereof and re-enter said Demised Premises or any part thereof, and by due process of law, expel, remove or put out the Tenant or any person or persons occupying said Demised Premises and may remove or sell all personal property therefrom without prejudice to any remedies which might otherwise be used for the collection of arrears of rent or for preceding breach of covenant or conditions. Notwithstanding any other provisions of this Lease, where the curing of an alleged default requires more than payment of money, and the work of curing said default cannot reasonably be completely cured in such timeaccomplished within the time otherwise permitted herein, if and where the Tenant has commenced upon the said work of curing said default and is diligently pursuing same, then the Tenant shall rot promptly proceed be entitled to cure such default within said five reasonable time extensions (5) days, or shall but not complete longer than 120 days after the date of commencement of the curing of such default with due diligence; default) to permit the completion of said work of curing said default, as a condition precedent to any re-entry by the Landlord or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term termination of this lease. At Lease by the expiration of the three (3) day notice periodLandlord, this lease and any rights of renewal defect that is cured shall not thereafter be grounds for re-entry or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedtermination.

Appears in 1 contract

Samples: Lease (Lumber Liquidators, Inc.)

Default. 4. Landlord may terminate Should LESSEE fail to pay any installment of rent when due or fail to fulfill or perform any of the agreements or provisions of this lease on three (3) days' notice: (a) if lease, which are the obligation of the LESSEE, or otherwise at any time to be in default thereinunder, and fail to pay such rent or additional rent is not paid within three continue in breach or default for a period of thirty (330) days after written notice from LandlordLESSOR shall have demanded in writing by Certified Return Receipt mail for performance thereof; or (b) if Tenant shall have failed to cure should LESSEE be adjudicated a default in the performance of any covenant of this lease (except the payment of rent), bankrupt or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver should LESSEE'S interest in this lease be levied on or trustee is appointed for attached in any portion of Tenant's; property action against LESSEE and such appointment levy or attachment is not vacated within twenty sixty (2060) days; days thereafter, then in any such event or (e) if an execution or attachment events, LESSEE'S interest in the leased premises and in this lease shall not be issued under which the premises shall be taken or occupied or attempted transferred by operation of law, but LESSOR may, at LESSOR'S election, and without prejudice to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant rights or remedies which might otherwise be available to LESSOR, (1) bring appropriate action against LESSEE to enforce the agreements and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term provision of this lease, but Tenant and to compel the LESSEE to abide by the same; (2) terminate this lease, and in such event LESSOR may rightfully re-enter tile leased premises without notice or demand, and repossess the same or recover possession thereof, as if such premises were held by forcible detainer; or (3) to pursue, in connection with the foregoing or separately, and other right or remedy provided by law: provided however, that LESSEE shall remain liable as hereinafter provided.not be in default hereunder in the event that such obligation, other than the payment of rent is fulfilled and performed within such Thirty (30) day period. LESSOR'S RIGHT OF ACCESS ------------------------ The LESSOR may enter the leased property, at any reasonable time, for the purpose of inspecting the leased property or performing any work which the LESSOR deems necessary to maintain property interest. PROPERTY INSURANCE, DESTRUCTION OF PREMISES AND ----------------------------------------------- OBLIGATION TO REBUILD ---------------------

Appears in 1 contract

Samples: Lease (Bowlin Outdoor Advertising & Travel Centers Inc)

Default. 4. Landlord may terminate Tenant shall be deemed to be in default under this lease on three Lease upon the occurrence of any of the following events (3) days' notice: "EVENT OF DEFAULT"): (a) if rent or additional rent is not paid within three (3) days after written notice from LandlordTenant fails to pay any Rent when and as the same becomes due and payable; or (b) if Tenant fails to pay any other sum owing under this Lease when and as the same becomes due and payable and such failure shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within continue for more than five (5) days after written notice thereof from Landlordthat such payment was not received when due; (c) Tenant fails to observe, keep or if perform any of the other terms, covenants, agreements or conditions contained in this Lease and on the part of Tenant to be observed or performed and such default cannot be completely cured in such time, if continues for a period of thirty (30) days after written notice by Landlord and Tenant shall rot promptly proceed to cure not within said period commence with due diligence the curing of such default within said five (5) daysor, having so commenced, shall thereafter fail or shall not neglect with due diligence to complete the curing of such default with due diligenceor shall not, in all events, complete the curing of such default within ninety (90) days after the original default notice to Tenant; or (cd) when and to the extent permitted by law, if Tenant files a petition in for bankruptcy shall be filed by or against Tenant become insolvent or if Tenant shall make a general transfer in fraud of creditors, or make an assignment for the benefit of creditors, or receive the benefit commence or there is commenced against Tenant any proceedings of any insolvency kind under any provision of the United States Bankruptcy Code or under any other insolvency, bankruptcy or reorganization actact and, if any such proceedings are involuntary, Tenant is not discharged from the same within ninety (90) days thereafter; or (de) if a receiver or trustee is appointed for any portion a substantial part of Tenant's; property the assets of Tenant and such appointment is not vacated dismissed or discharged within twenty ninety (2090) days; (f) Tenant vacates or abandons the Premises; (g) this Lease or any estate of Tenant hereunder shall be levied upon by any attachment or execution which is not discharged or bonded against within thirty (30) days; or (eh) if an execution or attachment shall be issued under which there are more than two Events of Default during the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or Term (f) if the premises become and remain vacantor deserted for Tenant acknowledging that a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or violation of this clause (h) if is not subject to cure by Tenant and that Landlord shall be immediately entitled to exercise all rights and remedies available to it). Tenant shall fail not have any cure period under this Lease if it fails to move into timely deliver an estoppel certificate or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease a subordination agreement as provided in Paragraphs 22 and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided25 below.

Appears in 1 contract

Samples: Ground Lease (Renaissance Entertainment Corp)

Default. 4. Landlord may terminate If (1) Borrower shall fail to pay the then unpaid Principal Amount on the Maturity Date or any Interest accrued thereon when due, (2) Borrower shall fail to perform, observe or comply with any other obligation under this lease on three (3) days' notice: (a) if rent or additional rent Note, which failure is not paid within three cured promptly but in no case more than fifteen (315) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default Borrower, except that in the performance event Borrower is unable to complete the cure within the fifteen (15) day period, the cure period shall be extended if Borrower has commenced the cure within fifteen (15) days and is diligently pursuing the cure; in no event, however, shall the cure period exceed thirty (30) days from the date of Lender’s notice, unless Lender and Borrower mutually agree to an extension of the cure period, (3) NextGen Pro, LLC shall fail to pay any covenant amount due under the Unconditional Guaranty Agreement attached hereto and incorporated herein by reference as Exhibit A and executed on the date hereof by the NextGen Pro, LLC in favor of this lease the Lender (except the payment of rent“Guaranty”), (4) NextGen Pro, LLC shall fail to perform, observe or comply with any rule other obligation under the Guaranty or regulation hereinafter set forththe Security Agreement attached hereto and incorporated herein by reference as Exhibit B and executed on the date hereof by the NextGen Pro, within five LLC in favor of the Lender (5the “Security Agreement”), which failure is not cured promptly but in no case more than fifteen (15) days after written notice thereof to NextGen Pro, LLC, except that in the event NextGen Pro, LLC is unable to complete the cure within the fifteen (15) day period, the cure period shall be extended if NextGen Pro, LLC has commenced the cure within fifteen (15) days and is diligently pursuing the cure; in no event, however, shall the cure period exceed thirty (30) days from Landlordthe date of Lender’s notice, unless Lender and NextGen Pro, LLC mutually agree to an extension of the cure period, (4) Borrower or NextGen Pro, LLC is acquired in a merger, consolidation or transfer of all or substantially all of its assets, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) Borrower shall commence a voluntary case concerning itself under Title 11 of the United States Code entitled “Bankruptcy,” as now or hereafter in effect, or any successor thereto (the “Bankruptcy Code”); or an involuntary case is commenced against Borrower under the Bankruptcy Code, and the petition is not controverted within 30 days, or shall is not complete dismissed within 90 days, after commencement of the curing of such default with due diligencecase; or (c) when and a trustee or custodian is appointed for, or takes charge of, all or substantially all of the property of Borrower, or Borrower commences any other proceeding under any reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating to the extent permitted by lawBorrower, if or there is commenced against Borrower any such proceeding which remains undismissed for a petition in bankruptcy shall be filed by period of 90 days, or against Tenant Borrower is adjudicated insolvent or if Tenant shall make bankrupt; or any order of relief or other order approving any such case or proceeding is entered; or Borrower makes a general assignment for the benefit of creditorscreditors (any of the events referred to in Section 4 (1) – (5) above being referred to herein as a “Default”); then Lender, by written notice to Borrower, may declare the unpaid Principal Amount and any accrued Interest thereon to be, and the same shall thereupon become, forthwith due and payable without presentment, demand, protest or receive the benefit other notice of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion kind, all of Tenant's; property which are hereby waived by Borrower, and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment Interest on the unpaid Principal Amount shall be issued under which thereafter accrue at the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often rate of ten percent (10%) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedper annum.

Appears in 1 contract

Samples: Security Agreement (RumbleON, Inc.)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent If Lessee shall fail to pay any Fixed or additional rent Additional Rent to Lessor when the same is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in due and payable under the performance of any covenant terms of this lease Lease Agreement and such default shall continue for a period of ten (except the payment of rent), or any rule or regulation hereinafter set forth, within five (510) days after written notice thereof from Landlordhas been given to Lessee By Lessor, or if default cannot be completely cured in such time, if Tenant the Lessee shall rot promptly proceed materially fail to cure perform any of the covenants or conditions hereof or any other duty or obligation imposed upon it by this Lease Agreement and such default within said five shall continue for a period of thirty (530) daysdays after written notice thereof has been given to Lessee by Lessor, or shall not complete if the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy Lessee shall be filed by adjudged bankrupt, either voluntarily or against Tenant involuntarily, or if Tenant shall make a general assignment for the benefit of its creditors, or receive the benefit a receiver of any insolvency property of Lessee in or reorganization act; upon the Leased Premises be appointed in any action, suit, or (d) if a receiver proceeding by or trustee is appointed for any portion of Tenant's; property against Lessee and such appointment is shall not be vacated or annulled within twenty sixty (2060) days; , or (e) if an execution Lessee enters into any type of reorganization under the United States Bankruptcy Act, as the same may from time to time be amended, or attachment if the interest of Lessee in the Leased Premises shall be issued sold under which execution of other legal process, then and in any such events Lessor, in its sole discretion, may at any time thereafter terminate this lease and the premises term thereof upon giving to the Lessee five (5) days notice in writing of its intention to do so and upon the giving of such notice, this Lease Agreement and the term thereof shall be taken or occupied or attempted terminate, and Lessor shall again have, repossess and enjoy the same as if this Lease Agreement had not been made, and thereupon this Lease Agreement shall terminate without prejudice, however, to be taken or occupied the right of Lessor to recover from Lessee all rent due and unpaid up to the time of such re-entry together with all damages and expenses, including attorneys' fees, incurred by an one other than Tenant; or (f) if Lessor due to Lessee's default. In the premises become event of any such default and remain vacantor deserted re-entry, Lessor shall have the right, but not the obligation to relet the Leased Premises for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession the remainder of the premises within fifteen (15) days after commencement of then existing term whether such term be the initial term of this leaseLease Agreement or any renewed or extended term, for the highest rent then obtainable, and to recover from Lessee, as damages, the difference between the rent reserved by this Lease Agreement and the amount obtained through such reletting, less the costs and expenses reasonably incurred by Lessor in such reletting (including reasonable attorneys' fees). At In the expiration event that the amount obtained through such reletting, less the reasonable costs and expenses thereof, including reasonable attorney's fees, shall exceed the rent herein reserved, Lessee shall have no right to such excess. Any such notice shall specifically refer to this Paragraph 15 and shall specify the default claimed. Lessor's remedies as specified in this Lease Agreement are cumulative and are not intended to preclude any other remedies or means of the three (3) day notice periodredress to which Lessor may lawfully be entitled at any time, this lease and Lessor may invoke any rights of renewal remedy allowed at law or extension thereof shall terminate as completely in equity as if that specified remedies were the date originally fixed not provided for the expiration of the term of in this lease, but Tenant shall remain liable as hereinafter providedLease Agreement.

Appears in 1 contract

Samples: Lease (Petes Brewing Co)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant In the event that the lessee shall have failed to cure a default in the performance payment when due of any covenant of this lease (except the payment of rent)payment, additional lease payment, or any rule other sums or regulation hereinafter set forthcharges due hereunder, within for a period of five (5) consecutive days after written notice thereof from Landlordthe said amounts are due, or in the event of any other default or breach of the other terms and conditions of this lease, or any other lease agreement executed contemporaneously herewith or which incorporates this agreement by reference, or if default cannot any execution or other process shall be completely cured issued in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) daysconnection with the equipment, or shall not complete if the curing of such default with due diligence; lessee becomes insolvent or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general makes an assignment for the benefit of creditors, or receive a receiver, trustee or liquidator of the benefit lessee's business or a substantial part of its assets is appointed with or without the consent of the lessee, or if a petition is filed against the lessee or by the lessee under the Bankruptcy Code or any amendments thereto, or any similar state insolvency law or laws providing relief for debtors, or if the financial conditions of the lessee's business affairs shall so change as to, in lessor's opinion, impair lessor's equipment or increase the credit risk involved, then, and upon the happening of any insolvency of these events, lessor shall have the right to do one or reorganization actmore of the following:Declare this lease in default upon written notice to lessee whereupon the entire amount of the lease payments remaining to be paid pursuant to this agreement shall be immediately due and payable; and Proceed to appropriate court action or actions at law or in equity or in bankruptcy to enforce performance by lessee of the covenants and terms and conditions of this Lease Agreement and/or to recover damages for the breach thereof; and Terminate this lease upon written notice to lessee; and Whether or not this lease be so terminated, and without notice to lessee, repossess the equipment wherever found, with or without legal process, and for this purpose lessor and/or its agents may enter upon any premise of or under control or jurisdiction of the lessee or any agent of the lessee without liability for suit, action or other proceeding by lessee (dany damages occasioned by such repossession being hereby expressly waived by lessee) if and remove the equipment thereon. Notwithstanding the fact that any or all of the equipment is returned to or repossessed by the lessor as aforesaid, the lessee shall remain liable for and the lessor may forthwith recover from lessee as liquidated damages for breach thereof under this lease and not as a receiver penalty, in addition to the entire amount of the unpaid lease payments pursuant to said subparagraph "A" above, all other unpaid sums or trustee charges that accrued prior to the date of the lessee's default, together will all costs and expenses incurred by the lessor as set forth herein. If the lessee fails to redeliver any equipment to the lessor or the lessor is appointed unable, for any portion reason, to effect repossession of Tenant's; property the equipment, or if the lessor does not repossess any of the equipment at its option, then with respect to such equipment, the lessee shall be liable for, and such appointment is lessor may forthwith recover from the lessee, as liquidated damages, and not vacated within as a penalty, in addition to the entire amount of unpaid lease payments pursuant to subparagraph "A" above, the sum of twenty (20%) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession percent of the premises within fifteen (15) days after commencement actual cost to lessor of such equipment, plus all other unpaid sums or charges that accrued prior to the date of the term of default by lessee, together with all costs and expenses incurred by lessor as set forth in this agreement. Lessor may also recover all costs and expenses including, without limitation, reasonable attorney fees incurred by the lessor in enforcing its rights under this agreement. Lessor may apply advance lease payments received against the lessee's obligations under this lease. At Any repossession, resale or release of any equipment by lessor shall not be a bar to the expiration institution of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed litigation by lessor against lessee for the expiration of the term damages for breach of this lease, but Tenant and the commencement of any litigation or the entry of any judgment against lessee shall remain not be a bar to the lessor's right to repossess the equipment. With respect to any equipment returned to the lessor or repossessed by lessor pursuant to this agreement, the lessor may hold or use such equipment for any purpose whatsoever, or may sell the same at private or public sale, for cash or credit, or may release the same for such terms as shall be solely determined by lessor. In the event of the sale or releasing by lessor of any such equipment, lessee shall be liable for, and lessor may forthwith recover from lessee, as hereinafter providedliquidated damages for breach of this lease, and not as a penalty, in addition to the entire amount of the unpaid lease payments pursuant to subparagraph "A" above, the sum of twenty (20%) percent of the actual cost to the lessor of such equipment, plus all other unpaid sums or charges that accrued prior to the date of the lessee's default, plus the proceeds of any sale or releasing of such equipment, after first deducting therefrom all costs and expenses incurred in repossession, storage, repairs, reconditioning, sale, releasing, attorney fees, and collection fees with respect to the equipment. To the extent permitted by law, the lessee hereby waives any rights now or hereafter conferred by statute or otherwise which may require the lessor to sell, lease or otherwise use any equipment in mitigation of lessee's damages as set forth in this paragraph numbered ten (10), or which may otherwise limit or modify any of the lessor's rights or remedies under this paragraph numbered ten (10).

Appears in 1 contract

Samples: Master Equipment Lease Agreement (Plastics MFG Co)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three If: (3i) there shall be a default in payment of any Rental which shall continue for a period of ten (10) days after written following receipt by Tenant of notice thereof from Landlord; or (bii) if Tenant there shall have failed to cure be a default in any other of Tenant's obligations hereunder or if the performance Premises be abandoned or vacated by Tenant; and if such default or condition shall continue for a period of thirty (30) days following receipt by Tenant of notice from Landlord to make good such default or correct such condition; or (iii) any covenant of this lease (except proceedings under the payment of rent)present or any future Bankruptcy Act be instituted by or against Tenant, or any rule receiver or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlordtrustee be appointed for or ordered to dispose of Tenant's business or property, or if default canTenant makes any assignment or conveyance for benefit of creditors and if any such proceeding instituted against Tenant shall not be completely cured dismissed within 20 days following the date of such institution; then, in such timeevent Landlord shall have the right, if immediately or at any time thereafter, to enter upon the Premises in the name of the whole and repossess the same as of its former estate and expel Tenant and all those claiming by, through or under it, and remove their goods and effects and store the same on behalf of Tenant 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 other default hereunder and upon entry as aforesaid this Extension of Lease Agreement shall be terminated. Landlord, at its election, may effect such termination by written notice to Tenant to that effect, which shall have the same force as an entry for breach as provided in this Section. In case of such termination, Landlord shall become entitled to receive from Tenant, and Tenant shall rot promptly proceed pay to cure such default within said five (5) daysLandlord on demand, or shall not complete the curing of such default with due diligence; or (c) when and as initial liquidated damages, a sum equal to the extent permitted amount by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment which the sum of the rent and other payments called for hereunder for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement remainder of the term exceeds the fair rental value of this lease. At he Premises for the expiration remainder of the three (3) day notice periodterm. Further, this lease Tenant shall, on demand of Landlord, from time to time indemnify Landlord against all loss of rent, other payments and damages, however caused, which it may incur by reason of such termination during the remainder of the term, first giving credit to any payments made by Tenant to Landlord on account of initial liquidated damages as aforesaid. In computing such damages there shall be added such reasonable expenses as Landlord may incur in connection with such termination and/or reletting, such as legal expenses, brokerage, expenses for keeping the Premises in good order and for preparing the same for reletting and expenses and/or decorations in the Premises as way be necessary for the purpose of reletting. Landlord shall also have the right to pursue such other rights and remedies as may be allowed at law or equity against Tenant, and any rights of renewal and all other parties who may be liable. All such remedies shall be cumulative. Provided, however, if any such default be under clause (ii) above and it would take more than thirty (30) days to cure the same, Landlord shall not forfeit the lease created hereby, enter upon the Premises or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration exercise any of the term of this lease, but other remedies herein provided for such default if Tenant shall remain liable as hereinafter providedbegins the cure thereof within such period and pursues same with reasonable due diligence to completion.

Appears in 1 contract

Samples: Extension of Lease Agreement (Spire Corp)

Default. 4. Landlord may terminate this lease on three (3) days' noticeAny of the following shall constitute an event of default hereunder: (a) if rent or additional rent is not paid within three (3) days after written notice from LandlordLessee's failure to pay any amounts when due; or (b) if Tenant shall have failed to cure a default the unauthorized removal of any unit of Equipment from the location(s) described in the performance of any covenant of this lease (except the payment of rentSchedule(s), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to Lessee's unpermitted assignment of any interest in this MLA or in the extent permitted by law, if a petition in bankruptcy shall be filed by Equipment; (d) Lessee (or against Tenant or if Tenant shall make a general any guarantor of Lessee's obligations hereunder) making an assignment for the benefit of its creditors, or receive becoming subject to any proceedings under the benefit U.S. Bankruptcy Code or any state reorganization, receivership, insolvency or dissolution proceedings; (e) the filing of any insolvency lien, levy attachment or reorganization actjudgment affecting the Equipment which has not been released or stayed on appeal within ten (10) business days of Lessee's knowledge thereof, or for which a bond satisfactory to Lessor in the full amount of such lien, levy attachment or judgment has not been obtained in favor of Lessor within ten (10) business days of Lessee's knowledge thereof; (f) Lessee's failure to cure any breach of any other provision of this MLA within ten (10) business days of Lessee's knowledge thereof or of Lessee's receipt of Lessor's written notice thereof (whichever occurs earlier); (g) Lessee (or any guarantor of Lessee's obligations hereunder) making any misrepresentations to Lessor now or hereafter; (h) Lessee being in default under any material agreement for the payment of money which has not been cured as provided; or (di) if a receiver any adverse material change in Lessee's financial condition or trustee is appointed for business operations (or that of any portion guarantor of Tenant's; property and such appointment is not vacated within twenty (20) days; Lessee's obligations hereunder), or (e) if any material change in the ownership of Lessee. Upon the occurrence of an execution or attachment event of default, this MLA shall be issued under which the premises shall be taken deemed unconditionally terminated or occupied or attempted to be taken or occupied by an one other than Tenant; or canceled (fat Lessor's option) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedexpired.

Appears in 1 contract

Samples: Master Lease Agreement (Sparta Foods Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default If Pledgor defaults in the performance of any covenant of this lease (except the payment of rentthe principal or ------- interest under the Note when it becomes due (whether upon demand, acceleration or otherwise) or any other event of default under the Note or this Pledge Agreement occurs (including the bankruptcy or insolvency of Pledgor), the Company may exercise any and all the rights, powers and remedies of any owner of the Pledged Shares (including the right to vote the shares and receive dividends and distributions with respect to such shares) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of the State of Florida or otherwise available to the Company under applicable law. Without limiting the foregoing, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any rule part of the Pledged Shares at any private sale or regulation hereinafter set forthpublic auction, within five (5) on not less than ten days after written notice thereof from Landlordto Pledgor, at such price or if default cannot be completely cured in prices and upon such timeterms as the Company may deem advisable. Pledgor shall have no right to redeem the Pledged Shares after any such sale or assignment. At any such sale or auction, if Tenant shall rot promptly proceed to cure the Company may bid for, and become the purchaser of, the whole or any part of the Pledged Shares offered for sale. In case of any such default within said five (5) dayssale, or shall not complete after deducting the curing costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such default with due diligence; or (c) when and sale shall be applied to the extent permitted principal of and accrued interest on the Note; provided that after payment in full of the indebtedness evidenced by lawthe Note, if a petition in bankruptcy the balance of the proceeds of sale then remaining shall be filed by or against Tenant or if Tenant paid to Pledgor and Pledgor shall make a general assignment for be entitled to the benefit of creditors, or receive the benefit return of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed of the Pledged Shares remaining in the hands of the Company. Pledgor shall be liable for an amount not to exceed 25% of the outstanding principal and accrued interest on the Note for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) deficiency if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond remaining proceeds are insufficient to pay the indebtedness under the Note in full, including the fees of any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail attorneys employed by the Company to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedcollect such deficiency.

Appears in 1 contract

Samples: Corporation Executive Stock Agreement (Aircraft Service International Group Inc)

Default. 4. Landlord may terminate this lease on three (3) days' noticeAn “Event of Default” shall be deemed to exist if any of the following occurs: (a) Lessee fails to pay any Lease Payment or other sum due hereunder within fifteen (15) days of when due; (b) Lessee or any guarantor or surety of Lessee’s obligations, if rent any, fails to observe or additional rent is not paid within three perform any other term, covenant or condition of this Agreement, any Lease, any Surety Agreement or any other agreement with Lessor and such failure continues for thirty (330) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligenceLessor; or (c) when and to the extent permitted by lawLessee or any guarantor or surety of Lessee’s obligations, if any, dies, or becomes insolvent or unable to pay its debts when due; stops doing business as a petition in bankruptcy shall be filed going concern; terminates its organizational existence, merges, consolidates, transfers, sells or otherwise disposes of a majority of its assets or a majority of its liquid assets, provided that (i) Lessee may merge with any other entity so long as Lessee is the surviving entity, (ii) any guarantor or surety of Lessee’s obligations may merge with any other entity so long as such guarantor or surety is the surviving entity, and any such guarantor of surety may merge with and into a Qualified Subsidiary (as defined below), and (iii) Lessee may transfer, sell or otherwise dispose of its assets to a Qualified Subsidiary; (d) a writ of attachment or execution is levied upon the Equipment unless released, satisfied or stayed within thirty (30) days of such levy; (e) the filing by or against Tenant Lessee or any guarantor or surety of lessee’s obligations, if Tenant shall make any, of a general petition under the Bankruptcy Code or under any insolvency law provided for relief of debtors unless with respect to a petition filed against Lessee, it is dismissed within forty-five (45) days; (f) the voluntary or involuntary making of an assignment for the benefit of creditors, or receive the benefit appointment of any insolvency or reorganization act; or (d) if a receiver or trustee for Lessee or any guarantor or surety of Lessee’s obligations, if any, or for their respective assets, or the commencement of any formal or informal proceeding for dissolution, liquidation, settlement of claims against or winding up of the affairs of Lessee or any guarantor or surety of Lessee’s obligations, if any; (g) there is appointed for a change in the ownership or control of Lessee or any portion guarantor or surety of Tenant'sLessee’s obligations, if any, or a Change of Control (as defined below); property (h) any representation, warranty or signature herein or made by Lessee or any guarantor or surety of Lessee’s obligations, if any, in any document delivered to Lessor in connection with this Agreement or any Lease shall be false or misleading in any material respect when made; (i) Lessee or any guarantor or surety of Lessee’s obligations, if any, is in default under any other agreement with Lessor or any affiliate of Lessor (including without limitation TD Bank, N.A. and such appointment is its related affiliates of The Toronto-Dominion Bank) or any other person; O) Lessee or any guarantor or surety of Lessee’s obligations, if any, engages in any criminal conduct that subjects the Equipment to seizure and/or confiscation by governmental authorities; (k) Lessee uses or permits use of the Equipment in a fashion not vacated within twenty covered by the required insurance policies; (20I) dayswithout the prior written consent of Lessor, Lessee attempts to remove, sell, transfer, encumber, part with possession, or sublet any item of Equipment; (m) Lessee or any guarantor or surety of Lessee’s obligations, if any, suffers a material adverse change in its financial condition, business, operations or assets and, as a result, Lessor deems itself or any of its Equipment to be insecure;; or (en) any default under any guaranty agreement or surety agreement executed in connection with this Agreement or any Lease, if an execution any. As used therein: (i) “Change of Control” means (y) the acquisition of ownership, directly or attachment shall be indirectly, beneficially or of record, by any person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the SEC thereunder as in effect on the date hereof), of equity interests representing more than 40% of the aggregate ordinary voting power represented by the issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; and outstanding equity interests of Lessee, or (fz) if the premises become and remain vacantor deserted for a period often (10) days; acquisition of direct or (g) if Tenant shall default beyond indirect control by any grace period under any other lease between Tenant and Landlord; person or (h) if Tenant shall fail to move into or take possession group of the premises within fifteen (15) days after commencement power to direct or cause the direction of the term management or policies of this lease. At Lessee, whether through the expiration ability to exercise voting power, by contract or otherwise; and (ii) “Qualified Subsidiary” means a wholly-owned domestic subsidiary of the three Lessee that (3y) day notice periodsatisfies Lessor’s “know your customer” and other regulatory requirements, this lease and any rights (z) executes a Surety Agreement in form and substance satisfactory to Lessor to guarantee payment and performance of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration all of the term of this lease, but Tenant shall remain liable as hereinafter provided.Lessee’s obligations

Appears in 1 contract

Samples: Master Lease Agreement (Photronics Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant In the event that ISW shall have failed to cure a default in the performance of any covenant provision of this lease Agreement on its part to be performed and such default shall not be cured within a period of thirty (except the payment of rent), or any rule or regulation hereinafter set forth, within five (530) days after written notice thereof shall have been given by Hub Operator to ISW specifying the nature of such default, then Hub Operator may terminate this Agreement by giving to ISW written notice of such termination, and in the event of any such termination, ISW, at its expense, shall promptly remove the System, software and equipment provided by ISW, from Landlordthe Hub. In the event that operation of the System is interrupted as a result of the fault of ISW, ISW's liability to Hub Operator hereunder shall be limited to the Liquidated Damages specified in Exhibit G hereto. (b) Except as provided in Section 15(c), in the event that Hub Operator shall default in the performance of any provision of this Agreement on its part to be performed and such default shall not be cured within a period of thirty (30) days after written notice shall have been given by ISW to Hub Operator specifying the nature of such default, then ISW may terminate this Agreement by giving to Hub Operator written notice of such termination, and in the event of any such termination, ISW shall promptly remove the System, software and equipment provided by ISW, from the Hub, and the cost of such removal shall be paid for by Hub Operator. (c) If any sums of money due ISW under this Agreement are not promptly and fully paid when the same become due and payable, or if default cannot be completely cured in such timeHub Operator becomes insolvent, if Tenant shall rot promptly proceed ceases to cure such default within said five (5) daysdo business as a going concern, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall or for arrangement or reorganization be filed by or against Tenant Hub Operator, the System, software or if Tenant shall make a general assignment for the benefit equipment provided by ISW are attached through no fault of creditorsISW, or receive a receiver be appointed for Hub Operator, in addition to any other rights which ISW has, ISW shall have the benefit of any insolvency or reorganization act; or right to terminate this Agreement upon three business days notice. (d) if Upon the occurrence of a receiver default as provided in Section 15(b) or trustee any of the events specified in Section 15(c), ISW is appointed for any portion of Tenant's; property authorized and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which empowered to enter the premises shall be taken of Hub Operator or occupied other place where ISW s System, software or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become equipment may be, and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take retake possession of the premises within fifteen (15) days after commencement same without notice or demand or without legal process, such notice and demand being expressly waived, and ISW may at its option, by suit or otherwise, enforce payment of the term all due obligations, plus interest and reasonable attorney s fees, and no suit or legal proceedings with respect thereto shall be deemed any waiver of this lease. At the expiration of the three (3) day notice period, this lease and any said rights of renewal or extension thereof shall terminate ISW to resume possession of said property as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter herein provided. SECTION 16.

Appears in 1 contract

Samples: Hub Services Agreement (International Sports Wagering Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if If tenant shall fail to pay any installment of the fixed rent or any additional rent is not paid within three or other charges as and when the same shall become due and payable, and such default shall continue for a period of twenty (320) days after written notice from Landlord; given to tenant by landlord, or (b) if Tenant tenant shall have failed to cure a default in the performance of any covenant of the other terms, covenants or conditions of this lease and such default shall continue for a period of twenty (except the payment of rent), or any rule or regulation hereinafter set forth, within five (520) days after written notice thereof from Landlordgiven to tenant by landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which against tenant or any of tenant's property whereby any part of the premises improvements shall be taken or occupied or attempted to be taken or occupied by an one someone other than Tenant; tenant, or (f) if tenant shall vacate and abandon the premises become and remain vacantor deserted for a period often (10) days; demised premises, or (g) if Tenant this lease or the estate of tenant hereunder shall default beyond any grace period under be transferred or passed to or devolve upon any other person, firm or corporation, except in the manner provided in this lease, or if tenant shall assign, mortgage or encumber this lease between Tenant and Landlord; or (h) if Tenant shall fail to move into sublet the demised premises or take possession any part of the premises within premises, without the prior written consent of landlord, landlord shall have the right, at landlord's option, to terminate this lease and the term hereof, as well as the right, title and interest of tenant hereunder, by giving tenant fifteen (15) days after commencement days' notice in writing of the term of this lease. At such intention, and upon the expiration of the three time fixed in such latter notice, if such default be not cured prior thereto or (3) day notice periodexcept a default for non-payment of rent or additional rent), tenant shall not then be diligently engaged in good faith in prosecuting the work necessary to remove said cause or in taking the steps necessary to remedy said default, this lease and any rights term hereof, as well as all the right, title and interest of renewal or extension thereof tenant hereunder, shall terminate as completely wholly cease and expire in the same manner and with the same force and effect as if that were the date originally fixed for by such latter notice were the expiration of the term herein originally granted; and tenant shall immediately quit and surrender the premises to landlord and landlord may re-enter the demised premises and take possession of this leaseall or any part thereof, but Tenant and remove all property and persons therefrom and shall remain not be liable as hereinafter providedfor any damage therefor or for trespass.

Appears in 1 contract

Samples: Lease Agreement (Village Bancorp Inc)

Default. 4Except as expressly set forth herein, Subtenant shall perform all obligations in respect of the Subleased Premises that Sublandlord would be required to perform pursuant to the Master Lease. Landlord may terminate this lease on It shall constitute a “Default” hereunder if Subtenant fails to perform any obligation hereunder (including, without limitation, the obligation to pay Rent), or any obligation under the Master Lease which has been incorporated herein by reference, and, in each instance, Subtenant has not remedied such failure (i) in the case of any monetary Default, three (3) days' notice: (a) if rent or additional rent is not paid within three (3) business days after delivery of written notice from Landlord; or and (bii) if Tenant shall have failed to cure a default in the performance case of any covenant of this lease (except the payment of rent)other Default, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often ten (10) business days after delivery of written notice; provided, however, that if the Default is incapable of cure within ten (10) business days, then for so long as Sublandlord has not received notice from Landlord stating that Landlord will treat such Default as an “Event of Default” under the Master Lease, Subtenant shall not be in Default hereunder if Subtenant commences the cure within the ten (10) business day period and thereafter diligently prosecutes the cure to completion; or however, if at any time Sublandlord receives notice from Landlord that the Default will be treated as an “Event of Default” under the Master Lease, Subtenant’s cure period will immediately be deemed to expire ten (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (1510) days after commencement before the date of the term of this lease. At the expiration of the three (3) day Sublandlord’s cure period as set forth in Landlord’s notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provideddefault to Sublandlord.

Appears in 1 contract

Samples: Lease Agreement (Solid Biosciences Inc.)

Default. 4. Landlord may terminate 19.1 If Tenant defaults in fulfilling any of the covenants of this lease on three (3) days' notice: (a) if Lease, including the payment of rent or additional rent is not paid within three (3) days after written notice from Landlordrent; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), demised premises become vacant or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, deserted; or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which against Tenant or any of Tenant's property whereupon the demised premises shall be taken or occupied or attempted to be taken or occupied by an one someone other than Tenant; or if this Lease be rejected under Section 365 of Title II of the U.S. Bankruptcy Code (f) if the premises become and remain vacantor deserted for a period often (10) daysBankruptcy Code); or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the demised premises within thirty (30) days after the Commencement Date, of which fact Landlord shall be the sole judge; then, in any one or more of such events, upon Landlord serving a written ten (10) days' notice in the case of a default in the payment of rent or additional rent, or a written thirty (30) days' notice for any other default, upon Tenant, specifying the nature of said default and upon the expiration of said ten (10) days or fifteen (15) days after commencement days, as the case may be, if Tenant shall have failed to comply with or remedy such default, or if the non-monetary default or omission complained of shall be of such a nature that the term same cannot be completely cured or remedied within said thirty (30) day period and if Tenant shall not have diligently commenced to take action towards curing such default within such thirty (30) day period and shall not thereafter with reasonable diligence and in good faith proceed to remedy or cure such default, then Landlord may serve a written five (5) days' notice of cancellation of this lease. At Lease upon Tenant, and, upon the expiration of the three said five (35) day notice perioddays, this lease Lease and the term hereunder and any rights of renewal or extension thereof shall terminate end and expire as fully and completely as if that the date of expiration of such five (5) day period were the date day herein originally fixed for the end and expiration of this Lease and the term of this lease, hereof and Tenant shall then quit and surrender the demised premises to Landlord but Tenant shall remain liable as hereinafter provided. If Tenant shall at any time default hereunder, and if Landlord shall institute an action or summary proceedings against Tenant based upon such default, then Tenant will reimburse Landlord for all legal expenses, including reasonable attorney's fees and disbursements, thereby incurred by Landlord.

Appears in 1 contract

Samples: Agreement of Lease (Vision Sciences Inc /De/)

Default. 4. Landlord may terminate The occurrence of any one or more of the following events shall constitute a default of this lease on three Lease by Tenant (3) days' notice: a “Tenant Default”): (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if the failure by Tenant shall have failed to cure a default in the performance of make any covenant of this lease (except the payment of rent)Monthly Rent, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted other payment required to be taken or occupied made by an one other than Tenant; or (f) if the premises become Tenant hereunder, as and remain vacantor deserted when due, where such failure shall continue for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement Tenant’s receipt of written notice thereof by Landlord to Tenant; provided that if Tenant fails to pay Monthly Rent or any other payment required to be made by Tenant hereunder on time more than two (2) times in a twelve (12) month period, a Tenant Default shall occur notwithstanding that such payments have been made within the applicable cure period; (b) the failure by Tenant to observe or perform any of the term covenants, conditions, or provisions of this lease. At Lease to be observed or performed by Tenant, other than as described in subsection (a) above, where such failure shall continue for a period of thirty (30) days after Tenant’s receipt of written notice thereof by Landlord provided that if such cure reasonably requires more than thirty (30) days to complete, then Tenant shall not be in default if Tenant shall promptly commence the expiration cure of such Tenant Default and diligently pursues such cure to completion; (c) the three (3) day notice period, this lease and any rights making by Tenant of renewal a general assignment or extension thereof shall terminate as completely as if that were the date originally fixed general arrangement for the expiration benefit of creditors; the term filing of a voluntary bankruptcy petition by Tenant. If an involuntary bankruptcy petition against Tenant has been filed and is not contested, dismissed, or stayed within sixty (60) days of filing); or the appointment of a trustee or receiver to take possession of substantially all Portions of this leaseexhibits indicated by “(*[TEXT]*)” have been omitted pursuant to a request for confidential treatment and such omitted portions have been filed separately with the Securities and Exchange Commission. of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, but Tenant where such seizure is not contested, discharged, or stayed in thirty (30) days after appointment of said trustee or receiver, provided however, if a final order adjudicating the tenant as being bankrupt or appointing a trustee or receiver shall remain liable have been entered pursuant to 11 U.S.C. §303 such order shall be an event of default hereunder, or the filing of a petition for the appointment of same by the Tenant, whichever shall first occur and (d) failure to maintain the premises as hereinafter providedan adult cabaret in continuous operation, subject to the provisions of Article VI. Notwithstanding anything in this provision which may be construed to the contrary, Tenant, in the event of an involuntary bankruptcy petition against it, has the right to contest an order for relief prior to entry of or defeating the entry of same.

Appears in 1 contract

Samples: Confidential Treatment (VCG Holding Corp)

Default. 4. Landlord may terminate this It is mutually agreed that in the event the Tenant shall default in the payment of rent herein reserved, when due, and fails to cure said default within ten (10) days after written notice hereof from the Landlord; or if the Tenant shall be in default in performing any of the terms or provisions of the lease on three other than the provision requiring the payment of rent, and fails to cure such default within thirty (330) days' notice: (a) days after the written notice of default from the landlord; or if rent the Tenant is adjudicated bankrupt or additional rent if a permanent receiver is appointed for the Tenant's property and such receiver is not paid removed within three sixty (360) days after written notice from Landlordthe Landlord to Tenant to obtain such removal; or (b) if if, whether voluntary or involuntary, Tenant shall have failed to cure a default in the performance takes advantage of any covenant of this lease (except debtor relief proceedings under any present or future law, whereby the payment of rent), rent or any rule part thereof is, is proposed to be, reduced or regulation hereinafter set forth, payment thereof deferred; or if the Tenant makes an assignment for benefit of creditors; or if the Tenant's property or any part thereof should be levied upon or attached under process against Tenant and not satisfied or dissolved within five thirty (530) days after written notice thereof from Landlord to Tenant to obtain satisfaction thereof; then, in any said events, Landlord at his option, may at once, or within six (6) months thereafter (but only during continuance of such default or condition), terminate this lease by written notification to the Tenant; where upon this lease shall end. After an authorized assignment or subletting of the entire premises covered by this lease, the occurring of any of the foregoing defaults or events shall affect this lease only if caused by, or happening to the assignee or sub-tenant. Any notice provide ion this paragraph may be given by Landlord, or if default cannot be completely cured in Agent herein named. Upon such timetermination by Landlord, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take will at once surrender possession of the premises within fifteen (15) days after commencement to Landlord and remove all Tenant's property therefrom; and Landlord may forewith re-enter the premises and repossess himself hereof, and remove all property therefrom, using such force as may be necessary without being guilty of trespass, forcible entry to detainer or other tort, or the violation or any of the term terms of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.

Appears in 1 contract

Samples: Agreement (Mohawk Industries Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default If Pledgor defaults in the performance of any covenant of this lease (except the payment of rentthe principal or ------- interest under the Note as it becomes due (whether upon demand, maturity, acceleration or otherwise) or any other event of default under the Note occurs (including the bankruptcy or insolvency of Pledgor), the Company may exercise any and all the rights, powers and remedies of any owner of the Pledged Shares (including the right to vote the shares and receive dividends and distributions with respect to such shares) and shall have and may exercise without demand any and all of the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of the State of California or otherwise available to the Company under applicable law. Without limiting the foregoing, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any rule part of the Pledged Shares at any private sale or regulation hereinafter set forthpublic auction, within five (5) on not less than ten days after written notice thereof from Landlordto Pledgor, at such price or if default cannot be completely cured in prices and upon such timeterms as the Company may deem advisable. Pledgor shall have no right to redeem the Pledged Shares after any such sale or assignment. At any such sale or auction, if Tenant shall rot promptly proceed to cure the Company may bid for, and become the purchaser of, the whole or any part of the Pledged Shares offered for sale. In case of any such default within said five (5) dayssale, or shall not complete after deducting the curing costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such default with due diligence; or (c) when and sale shall be applied to the extent permitted principal of and accrued interest on the Note; provided, however, that after payment in full of the indebtedness evidenced by lawthe Note, if a petition in bankruptcy the balance of the proceeds of sale then remaining shall be filed by or against Tenant or if Tenant paid to Pledgor and Pledgor shall make a general assignment for be entitled to the benefit of creditors, or receive the benefit return of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed of the Pledged Shares remaining in the hands of the Company. Pledgor shall be liable for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) deficiency if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond remaining proceeds are insufficient to pay the indebtedness under the Note in full, including the fees of any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail attorneys employed by the Company to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedcollect such deficiency.

Appears in 1 contract

Samples: Key Employee Purchased Stock Agreement (Chippac LTD)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default If Pledgor defaults in the performance of any covenant of this lease (except the payment of rentthe principal or interest ------- under the Note when it becomes due (whether upon demand, acceleration or otherwise) or any other event of default under the Note or this Pledge Agreement occurs (including the bankruptcy or insolvency of Pledgor), the Company may exercise any and all the rights, powers and remedies of any owner of the Pledged Shares (including the right to vote the shares and receive dividends and distributions with respect to such shares) and shall have and may exercise without demand any and all the rights and remedies granted to a secured party upon default under the Uniform Commercial Code of California or otherwise available to the Company under applicable law. Without limiting the foregoing, the Company is authorized to sell, assign and deliver at its discretion, from time to time, all or any rule part of the Pledged Shares at any private sale or regulation hereinafter set forthpublic auction, within five (5) on not less than ten days after written notice thereof from Landlordto Pledgor, at such price or if default cannot be completely cured in prices and upon such timeterms as the Company may deem advisable. Pledgor shall have no right to redeem the Pledged Shares after any such sale or assignment. At any such sale or auction, if Tenant shall rot promptly proceed to cure the Company may bid for, and become the purchaser of, the whole or any part of the Pledged Shares offered for sale. In case of any such default within said five (5) dayssale, or shall not complete after deducting the curing costs, attorneys' fees and other expenses of sale and delivery, the remaining proceeds of such default with due diligence; or (c) when and sale shall be applied to the extent permitted principal of and accrued interest on the Note; provided that after payment in full of the indebtedness evidenced by lawthe Note, if a petition in bankruptcy the balance of the proceeds of sale then remaining shall be filed by or against Tenant or if Tenant paid to Pledgor and Pledgor shall make a general assignment for be entitled to the benefit of creditors, or receive the benefit return of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed of the Pledged Shares remaining in the hands of the Company. Pledgor shall be liable for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) deficiency if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond remaining proceeds are insufficient to pay the indebtedness under the Note in full, including the fees of any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail attorneys employed by the Company to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedcollect such deficiency.

Appears in 1 contract

Samples: Executive Stock Pledge Agreement (Corinthian Colleges Inc)

Default. 416.01. Landlord may terminate this lease on three (3) days' notice: (a) It is expressly understood and agreed that in case the Demised Premises shall be deserted or vacated, or if default be made in the payment of the rent or additional rent is not paid within three (3) days after written notice from or any part thereof as herein specified, or if, without the consent of the Landlord; or (b) if , the Tenant shall have failed to cure a sell, assign, or mortgage this Lease or if default be made in the performance of any covenant of the covenants and agreements in this lease (except Lease contained on the payment part of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlordthe Tenant to be kept and performed, or if the Tenant shall fail to comply with any of the statutes, ordinances, rules, orders, regulations and requirements of the Federal, State and local governments or of any and all their departments or bureaus, applicable to the Demised Premises, or if the Tenant shall file or there shall be filed against Tenant a petition in bankruptcy or arrangement, or under any insolvency laws now or hereinafter enacted, or Tenant be adjudicated a bankrupt or make an assignment for the benefit of the creditors to take advantage of any insolvency act, the Landlord may, if the Landlord so elects, and may at any time thereafter terminate this Lease and the term hereof, on giving to the Tenant thirty (30) days notice in writing to cure such default, or if such default cannot be completely cured in such timewithin thirty (30) days, if Tenant shall rot promptly proceed does not commence to cure such default within thirty (30) days and diligently pursues the same to completion thereafter, except in the case of non-payment of rent said five notice shall require a cure within ten (510) daysdays and for non-payment of additional rent, or said notice shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if require a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated cure within twenty (20) days; or (e) , and if such default is not so cured, this Lease and the term hereof shall expire and come to an execution or attachment shall be issued under which end on the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) date fixed in such notice as if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that said date were the date originally fixed in this Lease for the expiration hereof, and Landlord may re-enter the Demised Premises and dispossess or remove Tenant or any other occupant of the term of Demised Premises by summary proceedings or otherwise, and remove their effects and hold the Demised Premises as if this leaseLease had not been made, but without prejudice to Landlord's remedies, on account thereof as set forth in paragraph (b) below. Tenant shall remain liable acknowledges that Tenant has read and is fully familiar with this Article "17" of the Lease and that in the event of any default with respect to payment of rent or additional rent by Tenant after notice is given as hereinafter providedrequired herein, Landlord may forthwith enter, take possession and operate the Demised Premises.

Appears in 1 contract

Samples: Agreement of Lease (Planet Entertainment Corp)

Default. 4. Landlord may terminate If the Lessee shall fail to keep and perform any of the covenants, agreements or conditions of this lease Lease on three its part to be kept or performed (3) days' notice: (a) if including the covenant to pay rent or additional rent is not paid within three (3) days after written notice from Landlordin the manner specified herein); or (b) if Tenant the Lessee shall have failed to cure a default in abandon or vacate the performance of any covenant of this lease (except Demised Premises during the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, term hereof; or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant Lessee shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if the interest of the Lessee in the Demised Premises shall be sold under execution or other legal process; or if the Lessee shall be adjudged a bankrupt or the leasehold seized by the trustee in bankruptcy; or if a receiver or trustee is shall be appointed for the Lessee by the Court, then the Lessor may at Lessor's election, any portion time thereafter, while THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS BRACKETED AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. such conditions exist, give thirty (30) days' notice to the Lessee of Tenant's; property such default, and if such appointment default and condition is not vacated corrected or remedied within twenty said thirty (2030) days; , then Lessor may, without prejudice to any remedies which might otherwise be used for arrears of rent or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted proceedings for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession breach of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice periodcovenants, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedexercise those remedies set forth in Section 19 hereof.

Appears in 1 contract

Samples: Aquapenn Spring Water Company Inc

Default. 4The occurrence of an Event of Default under the Loan Agreement shall constitute an Event of Default hereunder. Landlord may terminate Upon the occurrence of an Event of Default, at the option of Mortgagee (or automatically under the circumstances described in the Loan Agreement), the entire indebtedness secured by this lease on three instrument shall immediately become due and payable and shall bear interest at the highest default rate permitted to be charged under the Loan Agreement, and this Mortgage shall become absolute and the rights, title and interest of Mortgagor in, to and under the Premises shall become subject to foreclosure; and Mortgagee, in addition to all other remedies available under the Loan Documents or at law or in equity, shall have the right and power to do any one or more of the following: (l) sell the Premises if permitted by law, (2) institute judicial proceedings to foreclose the interest of Mortgagor in the Premises, (3) days' apply without notice: , the same being hereby waived, for the appointment of a receiver for the Premises and the rents and profits thereof or (a4) if rent enter upon and take possession of the Premises and let the Premises and receive the rents, issues and profits thereof, make repairs and apply said rentals and profits thereto, and apply said rentals and profits, after payment of all necessary or additional rent is not paid proper charges and expenses, on account of the amount hereby secured. At Mortgagee's option, Mortgagor, immediately after any Event of Default, will vacate the Premises within three (3) days after written notice from Landlord; demand has been made therefor by Mortgagee by delivering such demand at the Premises, and upon Mortgagor's failure so to do Mortgagee shall forthwith be entitled to recover possession of the Premises by action of forcible entry and detainer, or (b) if Tenant shall have failed to cure a default otherwise. Upon proceedings being commenced for the foreclosure of the interest of Mortgagor in the performance Premises, Mortgagee shall be at liberty to apply for the appointment of a receiver as a matter of right without consideration of the value of the Premises as security for the amount due Mortgagee or the solvency of any covenant of this lease (except person or persons liable for the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedamount.

Appears in 1 contract

Samples: Loan Agreement (Frischs Restaurants Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent is not paid within three The following events shall be deemed to be events of default by Tenant under this Lease: (3i) days after written notice from Landlord; or (b) if Tenant shall have failed fail to cure a default in the performance pay any installment of any covenant of this lease (except the payment of rent), Rent or any rule other charge or regulation hereinafter set forth, within assessment against Tenant pursuant to the terms hereof and such failure shall continue for five (5) days after receipt of written notice by Tenant; (ii) Tenant shall fail to comply with any term, provision, covenant or warranty made under this Lease by Tenant, other than the payment of the Rent or any other charge or assessment payable by Tenant, and shall not cure such failure within thirty (30) days after notice thereof from Landlordto Tenant; provided, or if default cannot be completely cured in such timehowever, if such default is of a nature that it can be cured and if Tenant shall rot promptly proceed in good faith commences to cure such default within said five (5) dayssuch cure period, or shall not complete but due to the curing nature of such default with it could not be cured within such cure period after due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy no event of default shall be filed by or against deemed to have occurred at the end of the cure period if Tenant is then diligently pursuing such cure to completion, and completes such cure as promptly as reasonably possible under the circumstances; (iii) Tenant or if Tenant any guarantor of this Lease shall make a general assignment for the benefit of creditors, or receive shall admit in writing its inability to pay its debts as they become due, or shall file a petition in bankruptcy, or shall be adjudicated as bankrupt or insolvent, or shall file a petition in any proceeding seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall file an answer admitting or fail timely to contest the benefit material allegations of a petition filed against it in any insolvency such proceeding; (iv) a proceeding is commenced against Tenant or reorganization actany guarantor of this Lease seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, and such proceeding shall not have been dismissed within ninety (90) days after the commencement thereof; or (dv) if a receiver or trustee is shall be appointed for the Demised Premises or for all or substantially all of the assets of Tenant or of any portion guarantor of Tenant's; property this Lease and such appointment receiver or trustee is not vacated dismissed within twenty ninety (2090) daysdays after the appointment thereof; (vi) Tenant shall do or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted permit to be taken done anything which creates a lien upon the Demised Premises or occupied the Project and such lien is not removed or discharged (by an one other than Tenant; bond or (fotherwise) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement the filing thereof, provided that the placement of the term a lien on Tenant’s Equipment shall not constitute an event of this lease. At the expiration of the three default hereunder; (3vii) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable fail to return a properly executed instrument to Landlord in accordance with the provisions of Article 27 hereof within the time period provided for such return following Landlord’s request for same as hereinafter providedprovided in Article 27; or (viii) Tenant shall fail to return a properly executed estoppel certificate to Landlord in accordance with the provisions of Article 28 hereof within the time period provided for such return following Landlord’s request for same as provided in Article 28.

Appears in 1 contract

Samples: Lease Agreement (Internap Network Services Corp)

Default. 4. Landlord may terminate this lease on three (3) days' noticeIf: (ai) if rent or additional rent is not paid within three there be default in payment of any Rental which shall continue for ten (310) days after written notice from Landlord; or (b) if following receipt by Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from LandlordLessor; or (ii) there shall be default in any other of Tenant's obligations hereunder or if the Leased Space be abandoned or vacated by Tenant, and if such default or condition shall continue for thirty (30) days following receipt by Tenant of notice from Lessor to make good such default or correct such condition; or (iii) any proceedings under the present or any future Bankruptcy Act be instituted by or against Tenant, or any receiver or trustee be appointed for or ordered to dispose of Tenant's business or property, or if default canTenant makes any assignment or conveyance for benefit of creditors and if any such proceeding instituted against Tenant shall not be completely cured dismissed within 20 days following the date of such institution; then, in such timeevent Lessor shall have the right, immediately or at any time thereafter, to enter upon the Leased Space in the name of the whole and repossess the same as of its former estate and expel Tenant and all those claiming by, through or under it, and remove their goods and effects (forcibly if necessary) and store the same on behalf of Tenant 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 other default hereunder and upon entry as aforesaid this Sublease Agreement shall be terminated. Lessor, at its election, may effect such termination by written notice to Tenant to that effect, which shall have the same force as an entry for breach as provided in this Section. In case of such termination, Lessor shall become entitled to receive from Tenant, and Tenant shall rot promptly proceed pay to cure such default within said five (5) daysLessor on demand, or shall not complete the curing of such default with due diligence; or (c) when and as initial liquidated damages, a sum equal to the extent permitted amount by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment which the sum of the rent and other payments called for hereunder for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement remainder of the term of this lease. At exceeds the expiration fair rental value of the three (3) day notice periodLeased Space for the remainder of the term. Further, this lease Tenant shall, on demand of Lessor, from time to time indemnify Lessor against all loss of rent, other payments and damages, however caused, hereunder or under any xxxxxxxxx which it may incur by reason of such termination during the remainder of the term, first giving credit to any payments made by Tenant to Lessor on account of initial liquidated damages as aforesaid. In computing such damages there shall be added such reasonable expenses as Lessor may incur in connection with such termination and/or reletting, such as legal expenses, brokerage, expenses for keeping the Leased Space in good order and for preparing the same for reletting and expenses and/or decorations in the Leased Space as may be necessary for the purpose of reletting. Lessor shall also have the right to pursue such other rights and remedies as may be allowed at law or equity against Tenant, and any rights of renewal and all other parties who may be liable. All such remedies shall be cumulative. Provided, however, if any such default be under clause (ii) above and it would take more than thirty (30) days to cure the same, Lessor shall not forfeit the lease created hereby, enter upon the Leased Space or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration exercise any of the term of this lease, but other remedies herein provided for such default if Tenant shall remain liable as hereinafter providedbegins the cure thereof within such period and pursues same with reasonable due diligence to completion. Lessor agrees to use its best efforts to mitigate damages arising from any default by Tenant.

Appears in 1 contract

Samples: Sublease Agreement (Spire Corp)

Default. 4Section 1. Landlord may terminate This Lease is made on the condition that if the Lessee shall fail to perform any obligation hereunder in payment of base rent, additional rent, or in payment of any other sums due under this lease on three Lease, and such failure shall continue for ten (3) days' notice: (a) if rent or additional rent is not paid within three (310) days after receipt of written notice from Landlord; Lessor, or for thirty (b30) if Tenant shall have failed to cure a days after receipt of written notice of default in the performance case of any covenant of this lease other obligation (except the payment of rent)or, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if said default cannot reasonably be completely expected to be cured in within such timethirty-day period, if Tenant Lessee shall rot not within such thirty-day period promptly proceed commence to cure such default within said five (5) days, or shall not complete and thereafter prosecute the curing of such default to completion with due diligence; ), or (c) when and to if the extent permitted by estate hereby created shall be taken on execution or other process of law, or if the Lessee shall be declared bankrupt or insolvent according to law, or if the Lessee shall make or offer to make, in or out of bankruptcy, a composition with the Lessee's creditors, or if the Lessee shall make an assignment for the benefit of its creditors, or if the Lessee shall commit any act of bankruptcy, or if a receiver, trustee or other officer shall be appointed to take charge of all or any substantial part of the Lessee's property by a court, or if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment the Lessee for the benefit reorganization of creditors, the Lessee or receive for an "arrangement" under the benefit of any insolvency Bankruptcy Code or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession provisions of the premises Bankruptcy Code or any successor or similar State or Federal statute or regulation now or hereafter in effect, and the same, if filed against but not by Lessee, shall not be dismissed within fifteen thirty (1530) days after commencement the date on which it is filed, then and in any of the term said cases, notwithstanding any prior waivers or consent the Lessor lawfully may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter and without prior demand or prior notice (1) terminate this lease. At Lease by notice in writing forthwith, or on a date stated in said notice, (2) with or without process of law (forcibly, if necessary) enter into and upon the expiration Demised Premises or any part thereof in the name of the three whole and repossess the same as of the Lessor's former estate, and (3) day notice periodexpel the Lessee and those claiming through or under the Lessee and remove its and their effects (forcibly, if necessary 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 preceding breach of covenant, and upon entry as aforesaid this lease Lease shall terminate, the Lessee hereby waiving all statutory rights; and any rights in case of renewal such termination, or extension thereof shall terminate as completely as if that were termination by reason of default on the date originally fixed for the expiration part of the term Lessee, the Lessee shall at the election of this leasethe Lessor, but Tenant shall remain liable as hereinafter provided.which election may be changed at any time:

Appears in 1 contract

Samples: Lease (Nutrisystem Com Inc)

Default. 4. Landlord may terminate 13.1 (i) If Subtenant shall fail to comply with any of the terms, conditions, covenants or provisions of this lease on three Sublease (3including the obligations under the Prime Lease incorporated herein by reference) days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (bii) upon the occurrence of any event with respect to Subtenant, which, if Tenant such event occurred with respect to Sublandlord would constitute a default by Sublandlord under the terms of the Prime Lease (any such failure or occurrence is hereinafter referred to as an “Event of Default”), then unless Subtenant shall have failed to cure a default in the performance cured such Event of any covenant of this lease Default (except the payment of rent), or any rule or regulation hereinafter set forth, x) within five (5) days (if of a monetary nature) or (y) within ten (10) days (if of a non-monetary nature), after Subtenant’s receipt from Sublandlord of a written notice thereof from Landlordthereof, Subtenant shall be deemed to be in default under this Sublease and Sublandlord shall be entitled to exercise against Subtenant with respect to this Sublease all of the rights and remedies permitted Landlord under the Prime Lease in the event of a default by Sublandlord under the Prime Lease (after Sublandlord’s receipt of any notices to cure and the expiration of any applicable cure period, to the extent provided for under the Prime Lease) as though the same were expressly provided for herein as the rights and remedies available to Sublandlord, and to exercise any additional rights and remedies permitted to Sublandlord at law or in equity. No waiver of any default by either Sublandlord or Landlord shall be deemed a waiver of any of the terms, provisions, covenants, conditions, and rules or regulations in question, or a waiver of any subsequent or similar default. Notwithstanding the foregoing, if default canLandlord shall be permitted to terminate the Prime Lease and/or exercise any of its rights or remedies thereunder without delivering to Sublandlord a written notice thereof, Sublandlord shall not be completely cured in such time, if Tenant shall rot promptly proceed required to cure such default within said five (5) days, or shall not complete the curing deliver a notice of such default to Subtenant before terminating the Sublease and/or exercising any of its rights remedies hereunder with due diligence; or (c) when and respect to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit an Event of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedDefault.

Appears in 1 contract

Samples: Sublease Agreement (Imperium Renewables Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent or additional rent This Lease is not paid within three (3) days after written notice from Landlord; or (b) upon the condition that, if Tenant shall have failed neglect or fail to cure a default in the performance pay when due any installment of any covenant rent or reimbursement of this lease (except the payment of rent), taxes or any rule other charges payable by Tenant, and such neglect or regulation hereinafter set forth, within failure shall continue for five (5) days after receipt of written notice thereof thereof, or if Tenant shall neglect or fail to perform or observe any of the other covenants or undertakings herein on its part to be performed or observed and such neglect or failure shall continue for thirty (30) days after written notice to it from Landlord, or or, if the default is such that it cannot be completely cured in such timewithin thirty (30) days, if and Tenant shall rot promptly proceed not within said period commence to cure such default within said five (5) daysdefault, and continue to do so diligently, or if the estate hereby created shall be taken by execution or by other process of law and not complete redeemed by Tenant within fourteen (14) days thereafter, or if proceedings for corporate reorganization or arrangement under the curing Bankruptcy laws of such default with due diligence; the United States or (c) when and to the extent permitted by law, if a petition in bankruptcy any laws amendatory thereof or supplemental thereto shall be filed by or against Tenant and not be dismissed within ninety (90) days, or if the Tenant shall make a general execute an assignment of its property for the benefit of its creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver for Tenant or trustee is other similar officer shall be appointed for any portion of Tenant's; property and such appointment is not vacated be discharged within twenty thirty (2030) days; . In the event of a Default Event, Landlord may, immediately or at any time thereafter, (enotwithstanding any license or waiver of any former instance) if an execution and without demand or attachment shall be issued under which notice, in person or by agent or attorney, enter the premises shall be taken Premises or occupied any part thereof and repossess the same as of its former estate, or attempted terminate this Lease by written notice to be taken or occupied by an one other than Tenant; or (f) if the premises become , and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between in either event, expel Tenant and Landlord; those claiming through or under it and remove their effects (h) forcibly, if Tenant shall fail necessary), without being deemed guilty of any manner of trespass and without prejudice to move into any remedy which otherwise might be used for arrears of rent or take possession breach of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day covenant, and upon entry or notice periodas aforesaid, this lease and any rights of renewal or extension thereof Lease shall terminate as completely as if and the Landlord, in addition to all other remedies which it may have at law, shall have the remedies provided in Article XIII and elsewhere in this Lease. It is further agreed that were the date originally fixed Tenant will be responsible for the expiration of the term of this leaseall fees and costs incurred by Landlord in its efforts to collect any outstanding base rent and pro-rata billings. These fees and costs include, but Tenant shall remain liable as hereinafter providedare not limited to, profxxxxxxxx fees, reasonable attorney fees and reasonable accounting fees.

Appears in 1 contract

Samples: Baycorp Holdings LTD

Default. 4. Landlord may terminate Tenant agrees that the violation of any of the foregoing covenants and conditions shall, at the option of Landlord, void this lease on three (3) days' notice: (a) Lease and render the same null and void, and shall constitute a ground of forfeiture and ejection under the provisions for that purpose hereinafter contained if rent or additional rent such violation is not paid cured within three the applicable time period after written notice of the violation to Tenant, if such written notice is expressly required hereunder. Provided, however, and this Lease is made upon this condition, that if Fixed Rent, any part thereof or any other sum due and payable to Landlord hereunder shall remain unpaid for fifteen (315) days after written notice from Landlord; by Landlord of such default in payment (but Landlord shall only be required to give notice of a monetary default two times during the term of this Lease and thereafter default is automatic), or (b) if Tenant shall have failed to cure a default in assign this Lease or sublet the performance of any covenant of this lease (except the payment of rent)Leased Premises, or any rule part thereof, or regulation hereinafter set forthany interest therein, within five (5) days after written notice thereof from without the consent of Landlord, or if default cannot be completely cured in such timeTenant shall use the Leased Premises for any purpose other than herein agreed, or if Tenant shall rot promptly proceed to cure such default within said five (5) daysapply for relief under the Federal Bankruptcy Code, or shall not complete the curing of such default with due diligence; any similar state or (c) when and Federal laws providing relief to the extent permitted by lawdebtors, or if a an involuntary petition in bankruptcy shall be is filed by or against Tenant under Federal Bankruptcy Code or any such similar state or Federal laws, or if Tenant shall make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is receivers be appointed for any portion Tenant, or if the interest of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment Tenant in the Lease Premises shall be issued sold under which execution, foreclosure, or legal process, or if any judicial sale of the premises interest of Tenant be had, or if a voluntary or involuntary sale, transfer, or assignment of this Lease of any kind or character whatsoever shall be taken made, or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move perform, keep, fulfill, or observe any of the terms, agreements, covenants, and conditions contained in this Lease on the part of Tenant to be kept, performed, fulfilled, or observed, and such failure shall remain uncured for a period of thirty (30) days after written notice by Landlord of such failure, it shall be lawful for Landlord at its option to re-enter into the Leased Premises and the same to have again, repossess and enjoy, as in its first and former estate, and that without notice to or take demand upon Tenant or any other person, and thereupon, at its option, this Lease and everything herein contained on the Landlord's behalf to be done and performed, shall cease, determine, and be utterly void and that without prejudice to any remedies or proceedings for arrearages of rent, breach of covenant, or collection of debt, or alternatively this Lease shall remain in full force and effect. Tenant hereby expressly waives any and all claims or demands for injuries or damages occasioned by and an account of any such re-entry by Landlord. If Tenant abandons the Leased Premises, or otherwise defaults in performance of this Lease thereby entitles Landlord to terminate Tenant's possession of the premises Leased Premises, and Landlord elects to terminate Tenant's right to possession only without termination of the Lease, Landlord may, at Landlord's option, enter into the Leased Premises, remove Tenant's signs and other evidences of tenancy, and take and hold possession thereof, without such entry and possession terminating the Lease or releasing Tenant, in whole or in part, from tenant's obligations to pay all rent due hereunder for the full term, and in any such case Tenant shall pay forthwith to Landlord, if Landlord so elects, a sum equal to the entire amount of all rent due under this Lease for the residue of the stated term, plus any other sums then due Landlord hereunder, including, without limitation, Landlord's expenses, Landlord's expenses incurred in connection with the default (such as Landlord's legal, broker/realtor and accounting fees). Upon and after entry into possession without termination of the Lease, Landlord shall use reasonable efforts to re-rent the Leased Premises (or such part thereof as Landlord deems proper) for the account of Tenant, to any persons, firm or corporation other than Tenant, for such rent and for such time and upon such terms as Landlord, in Landlord's sole discretion, shall determine, and Landlord shall not be required to obtain consent of Tenant for such re-renting, nor to accept any tenant offered by Tenant, or to observe any instructions given by Tenant about such re-renting. Tenant expressly agrees that, in the event Landlord, shall enter into possession without terminating this Lease, Landlord need not attempt to re-let said Leased Premises to any person, firm or corporation whom Landlord believes might rent other space in the Building or any other building of Landlord. In any case, Landlord may make repairs, alternations, and additions in or to the Leased Premises, and redecorate the same to the extent deemed by Landlord as necessary or desirable, and Tenant shall, upon demand, pay the cost thereof, together with Landlord's expense of the re-renting. If the consideration collected by Landlord upon any such re-renting for Tenant's account is not sufficient to pay the full amount of Tenant's rent reserved in this Lease, together with the costs of repairs, alternations, additions, redecorating and all of Landlord's other expenses incurred in connection with the default (including, without limitation, Landlord's legal, broker/realtor and accounting fees), Tenant shall pay to Landlord the amount of the deficiency upon demand; and if the consideration so collected from any such re-letting is more than sufficient to pay the full amount of the rent reserved herein, together with the costs and expenses of Landlord, Landlord may retain the surplus without any duty to pay the surplus to Tenant. Any and all property which may be removed from the Leased Premises by Landlord pursuant to the authority of this Lease or of law, to which Tenant is or may be entitled, may be handled, removed or stored by Landlord at the risk, cost and expense of Tenant, and Landlord shall in no event be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord upon demand, any and all expenses incurred in such removal, and all storage, sale and disposition charges against such property so long as the same shall be in Landlord's possession or under Landlord's control. Any such property of Tenant not removed from the Leased Premises or retaken from storage by Tenant within fifteen ten (1510) days after commencement removal shall be presumed, at the option of Landlord, to have been conveyed by Tenant to Landlord under this Lease as a xxxx of sale without further payment of credit by Landlord to Tenant, and Landlord shall thereafter be free to use such property for its own benefit, or otherwise sell or dispose of such property, as Landlord deems appropriate in its sole discretion. If Tenant shall default in the observance or performance of any term or covenant on its part to be observed or performed under or by virtue of any of the term terms and provisions in any section of this leaseLease, Landlord, without being under any obligation to do so and without thereby waiving such default, may remedy such default for the account of and at the expense of Tenant, immediately and without notice in case of emergency or in any other case. At If Landlord shall default in the expiration observance or performance of any term or covenant on its part to be observed or performed under or by virtue of any of the three (3) day notice period, this lease terms and provisions in any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term section of this leaseLease or any term implied in fact or in law on the part of Landlord to be performed or observed, but Tenant agrees that Tenant shall remain liable as hereinafter providedlook solely to Landlord's interest in the Leased Premises, and no other assets of Landlord shall be subject to levy, execution or other judicial process or award from the satisfaction of Tenant's claim.

Appears in 1 contract

Samples: Lease (Dominion Homes Inc)

Default. 4. Landlord may terminate this lease on three (3) days' noticeThe occurrence of any of the following shall constitute ------- a default by Tenant: (ai) if failure of Tenant to pay any rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, other sum payable hereunder within five (5) days after written such sum(s) becomes due; (ii) abandonment of the Premises (Tenant's failure to occupy and conduct business in the Premises for fourteen (14) consecutive days shall constitute an abandonment of the Premises); or (iii) failure of Tenant to perform any other term, covenant or condition of this lease if the failure to perform is not cured within thirty (30) days after notice thereof from Landlord, or has been given to Tenant (provided that if such default cannot reasonably be completely cured within thirty (30) days, Tenant shall not be in such time, default if Tenant shall rot promptly proceed commences to cure such failure to perform within the thirty (30) day period and diligently and in good faith continues to cure the failure to perform). The notice referred to in clause (iii) above shall specify the failure to perform and the applicable lease provision and shall demand that Tenant perform the provisions of this lease within the applicable period of time and no such notice shall be deemed a forfeiture or termination of this lease unless Landlord so elects in the notice. No notice shall be required in the event of abandonment or vacation of the Premises. In addition to the above, the occurrence of any of the following events shall also constitute a default within said five by Tenant: (5i) daysTenant fails to pay its debts as they become due or admits in writing its inability to pay its debts, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make makes a general assignment for the benefit of creditorscreditors (for purposes of determining whether Tenant is not paying its debts as they become due, a debt shall be deemed overdue upon the earliest to occur of the following: the earlier of the date on which any action or proceeding therefor is commenced; or the date on which a formal notice of default or demand has been sent); (ii) Tenant fails to furnish to Landlord a schedule of Tenant's aged accounts payable within ten (10) days after Landlord's written request; (iii) any financial statements given to Landlord by Tenant, any assignee of Tenant, subtenant of Tenant, any guarantor of Tenant, or receive the benefit successor in interest of Tenant (including, without limitation, any insolvency or reorganization actschedule of Tenant's aged accounts payable) are materially false; or (div) if any financial statement or other financial information furnished by Tenant pursuant to the provisions of this lease or at the request of Landlord evidences that either Tenant's net worth or its net assets are at least twenty- five percent (25%) less than the net worth or net assets shown in either the immediately prior financial statement or the financial statement of Tenant furnished at the time of execution of this lease, and Tenant fails to furnish promptly to Landlord, after notice from Landlord to Tenant, an additional security deposit in cash equivalent to the aggregate of the basic rent and common area charges (without regard to any rent abatement) payable hereunder for the twelve (12) full calendar months immediately preceding such notice. At any time during the term of this lease Landlord, at Landlord's option, shall have the right to receive from Tenant, upon Landlord's request, a receiver or trustee is appointed current annual balance sheet for any portion Landlord's review. If the balance sheet shows a negative net worth, Landlord may terminate this lease by giving Tenant sixty (60) days prior written notice. In the event of a default by Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted , then Landlord, in addition to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant rights and Landlord; remedies of Landlord at law or (h) if Tenant in equity, shall fail have the right either to move into or take terminate Tenant's right to possession of the premises within fifteen Premises (15and thereby terminate this lease) days after commencement or, from time to time and without termination this lease, to relet the Premises or any party thereof for the account and in the name of Tenant for such term an on such terms and conditions as Landlord in its sole discretion may deem advisable, with the right to make alterations and repairs to the Premises. Should Landlord elect to keep this lease in full force and effect, Landlord shall have the right to enforce all of Landlord's rights and remedies under this lease, including but not limited to the right to recover and to relet the Premises and such other rights and remedies as Landlord may have under California Civil Code Section 1951.4 (or successor Code section) or any other California statute. If Landlord relets the Premises, then Tenant shall pay to Landlord, as soon as ascertained, the costs and expenses incurred by Landlord in such reletting and in making alterations and repairs. Rentals received by Landlord from such reletting shall be applied (i) to the payment of any indebtedness due hereunder, other than basic rent and direct expenses, from Tenant to Landlord; (ii) the payment of the cost of any repairs necessary to return the Premises to good condition normal wear and tear excepted, including the cost of alterations and the cost of storing any of Tenant's property left on the Premises at the time of reletting; and (iii) to the payment of basic rent or direct expenses due and unpaid hereunder. The residue, if any shall be held by Landlord and applied in payment of future rent or damages in the event of termination as the same may become due and payable hereunder and the balance, if any at the end of the term of this leaselease shall be paid to Tenant. At Should the expiration basic rent and direct expenses received from time to time from such reletting during any month be less than that agreed to be paid during that month by Tenant hereunder, Tenant shall pay such deficiency to Landlord. Such deficiency shall be calculated and paid monthly. No such reletting of the three (3) day notice period, Premises by Landlord shall be construed as an election on its part to terminate this lease unless a notice of such intention is given to Tenant or unless the termination hereof is 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, provided it has not been cured. Should Landlord at any time terminate this lease for any breach, in addition to any other remedy it may have, it shall have the immediate right of entry and may remove all persons and property from the Premises and shall have all the rights and remedies of a Landlord provided by California Civil Code Section 1951.2 or any successor code section. Upon such termination, in addition to all its other rights and remedies, Landlord shall be entitled to recover from Tenant all damages it may incur by reason of renewal or extension thereof shall terminate as completely as if such breach, including the cost of recovering the Premises and including (i) the worth at the time of award of the unpaid rent which had been earned at the time of termination; (ii) the worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that were Tenant proves could have been reasonably avoided; (iii) the date originally fixed worth at the time of the award of the amount by which the unpaid rent for the expiration balance of the term after the time of award exceeds the amount of such rental loss that Tenant proves could be reasonably avoided; (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this lease or which in the ordinary course of events would be likely to result therefrom. The "worth at the time of award" of the amounts referred to in (i) and (ii) above is computed by allowing interest at the rate of twelve percent (12%) per annum. The "worth at the time of award" of the amount referred to in (iii) above shall be computed by discounting such amount at the discount rate of the federal reserve bank of San Francisco at the time of award plus one percent (1%). Tenant waives the provisions of Section 1179 of the California Code of Civil Procedure (which Section allows Tenant to petition a court of competent jurisdiction for relief against forfeiture of this lease, but ). Property removed from the Premises may be stored in a public or private warehouse or elsewhere at the sole cost and expense of Tenant. In the event that Tenant shall remain liable as hereinafter providednot immediately pay the cost of storage of such property after the same has been stored by a period of thirty (30) days or more, Landlord may sell any or all thereof at a public or private sale in such manner and at such times and places that Landlord, in its sole discretion, may deem proper, without notice to or demand upon Tenant.

Appears in 1 contract

Samples: Work Letter Agreement (Ebay Inc)

Default. 4. Landlord may terminate Subject to the next sentence of this lease on three Section 22, if any party hereto (3the "Defaulting Party") days' notice: (a) if rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default defaults in the performance of any covenant of this lease its material obligations hereunder and such default shall not be cured within ten (except the payment of rent), or any rule or regulation hereinafter set forth, within five (510) days after written notice thereof from Landlordto the Defaulting Party, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) daysthe Defaulting Party becomes insolvent, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in under any bankruptcy law shall be filed by or against Tenant the Defaulting Party which petition, if filed against the Defaulting Party, shall not have been dismissed within thirty (30) days thereafter, or if Tenant shall make a general the Defaulting Party executes an assignment for the benefit of creditors, or receive if a receiver is appointed for the benefit assets of the Defaulting Party, or if the Defaulting Party takes advantage of any insolvency or reorganization act; any other like statute (any of the above acts are hereinafter called an "Event of Default"), then the non-defaulting parties may, in addition to any and all other rights which it may have against the Defaulting Party, terminate this Agreement by giving written notice to the Defaulting Party at any time after the occurrence of an Event of Default. Notwithstanding the foregoing, if either Ellipse or (d) if a receiver or trustee is appointed for RMST defaults in the performance of any portion of Tenant's; property its material obligations hereunder and such appointment default is not vacated within twenty (20) days; incapable of being cured, DCI may, in addition to any and all other rights which it may have against either Ellipse or (e) if an execution RMST, as the case may be, terminate this Agreement by giving written notice to either Ellipse or attachment shall be issued under which RMST, as the premises shall be taken or occupied or attempted case may be, at any time after the occurrence of such default. Furthermore, notwithstanding any termination pursuant to be taken or occupied by an one other than Tenant; or (f) if this Section 22, the premises become indemnities, warranties and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant representations set forth herein shall remain liable as hereinafter providedin full force and effect, and all rights granted to the non-defaulting parties shall remain vested in such non-defaulting parties.

Appears in 1 contract

Samples: Rights Agreement (RMS Titanic Inc)

Default. 4. Landlord may terminate this lease on three (3A) days' notice: (a) if If Tenant falls with the exception of the covenant for the payment of rent or additional rent is not paid within three (3) days after written notice from Landlord; or (b) if Tenant shall have failed hereunder to cure a default in perform any other of the performance of any covenant terms of this lease (except the payment of rent)to be observed or performed by Tenant, or any rule it Tenant shall be come bankrupt or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlordinsolvent, or if default cannot be completely cured file any debtor proceedings or take or have taken against Tenant in such time, if Tenant shall rot promptly proceed any court (pursuant to cure such default within said five (5any statute either of the United States or of any state) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's property, or if Tenant shall make a general makes an assignment for the benefit of creditors, or receive the benefit petitions for or enters into an arrangement, or suffers this lease to be taken under any writ of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment or if this lease shall be issued under which the premises shall be taken pass to or occupied devolve upon, by law or attempted to be taken or occupied by an otherwise, one other than Tenant; Tenant except as herein provided, then, in any one or (fmore of such events, upon Landlord serving a written five(5) if day notice of default upon Tenant specifying the premises become nature of said default and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At if, at the expiration of the said five (5) day period, Tenant shall have failed to comply with or remedy such default then, Landlord may give Tenant a three (3) day notice of cancellation of this lease and at the expiration of such three (3) day period, this lease and any rights of renewal or extension thereof the term hereunder shall terminate as completely and come to an end, and Tenant shall quit and surrender, the demised premises to Landlord as if that were the date originally fixed for term hereunder ended by the expiration of the term of this leasetime fixed herein, but Tenant shall remain liable as hereinafter hereafter provided.

Appears in 1 contract

Samples: Compu Dawn Inc

Default. 4. Landlord may terminate this lease on three In the case of one or more of the following events (3each, a “Default”) days' notice: (ai) if rent the Borrower fails to pay when due any payment of principal or additional rent is not paid within three (3) days after written notice from Landlordinterest hereof; or (bii) if Tenant shall have failed to cure the Borrower applies for a default in the performance of any covenant of this lease (except the payment of rent)trustee, or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee other custodian for it or a substantial part of its property; a trustee, receiver or other custodian is appointed for the Borrower or for a substantial part of its property; or any portion bankruptcy, reorganization, debt arrangement, or other case of Tenant's; property and such appointment proceeding, is commenced in respect of the Borrower which, in the case of any involuntary case or proceeding, is not vacated dismissed within twenty (20) 60 days; or (eiii) if an execution the Borrower materially breaches any of the covenants or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one agreements contained in this Note (other than Tenant; or that covered by clause (fi) if the premises become above) and remain vacantor deserted such breach remains uncured for a period often of ninety (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (1590) days after commencement receipt from the Holder of written notice thereof; then, notwithstanding the foregoing provisions of this Note, upon the occurrence of any Default described in clauses (i) and (ii) above, the Holder may, without written notice, declare the unpaid principal and interest on this Note and all other obligations of the term Borrower to the Holder at once due and payable, and upon the occurrence of this lease. At any Default described in clause (iii) above, the expiration Holders of at least a majority of the three (3) day outstanding principal amount under the Notes, may upon written notice periodto the Borrower, this lease upon written notice to the Borrower and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration each of the term Holders, as the case may be, declare the unpaid principal and interest on this Note and all other obligations of the Borrower to the Holders at once due and payable, whereupon in each foregoing case such principal, interest and other obligations shall become at once due and payable. Failure to exercise this lease, but Tenant option shall remain liable as hereinafter providednot constitute a waiver of the right to exercise the same at any other time.

Appears in 1 contract

Samples: Stock Purchase Agreement (Vystar Corp)

Default. 4. Landlord may terminate this lease on three If (3I) days' notice: (a) if rent or additional rent is not paid Maker shall fail to pay any sum within three (3) 15 days after of the date when due hereunder; and such failure continues for 15 days following written notice from Landlordof nonpayment to maker;provided,(ii) Maker shall fail to perform any other obligation hereunder on its due date and its failure continues period of 30 days following the date Payee has delivered written notice of such failure to Maker; (iii) Maker shall fail to perform any obligation under any of the Security Documents after giving effect to any applicable cure periods contained in such Security Document; or (biv) if Tenant an Eveny of Default shall have failed occurred under the Varrichio Noet regarless of whether Varrichio has accxxxxxxxx xxx xnpaid principal balancx xxxxx xhe Varichio Note. (any such default being hereinafter being called an :Event of Default"), the the entire unpaid principal on this Note together with interest accrued thereon and wit all other sums due or owed by Maker hereunder (including any unpaid fees) and under the terms of the Security Documents, shall, at the option of Payee and without notice to cure a default in maker, become due and payable immediately with interest at the performance rate equal to the lower of 15% per annum or the highest interest rate permiited by law, togetherwith reasonable attorney's fees fro collection and payment and the same may be enforced and recovered by entry of judgement on this Note and the issuance and execution thereon. Maker (and all endorsers, sureties, and mortgagors) hereby waives all benefit that might accrue to Maker by virtue of any covenant present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution, providing for any stay of execution, exemption from civil process or extension of time, and agrees that such property may be sold to satisfy any judgment entered on this Note or the Security Documents, in whole or in part, and in any order as may be desired by Payees. Maker (and all endorsers, and sureties, if any) waives presentment for payment, demand, notice of demand, notice of nonpayment or dishonor, protest and notice of protest of this lease (except Note, and all other notices in connection with the delivery, acceptance, performance, default or enforcement of the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedNote.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Ep Medsystems Inc)

Default. 4. Landlord may terminate The occurrence of any one or more of the following events ("Default") shall constitute a breach of this lease on three (3) days' noticeLease by Lessee: (a) if rent or Lessee shall fail to pay any rental amount (including the amount of any additional rent is not paid rental) within three ten (310) days after written notice from Landlordof when the same becomes due and payable; or (b) if Tenant Lessee shall have failed fail to cure a default in pay any other sum when and as the performance of any covenant of this lease same becomes due and payable and such failure shall continue for more than ten (except the payment of rent), or any rule or regulation hereinafter set forth, within five (510) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligenceLessor; or (c) when if Lessee shall vacate or abandon the Premises, vacation of the Premises to include the failure to occupy the Premises for a continuous period of sixty (60) days or more, whether or not rental and other amounts have been paid; or (d) if Lessee shall fail to the extent permitted by lawperform or observe any other material provision of this Lease, that Lessee is required to perform or observe hereunder, and such failure shall continue for more than thirty (30) days after notice thereof from Lessor, and Lessee shall not within such period cure such Default; or (e) if a petition in bankruptcy shall be filed by or against Tenant or if Tenant Lessee shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency shall admit in writing its inability to pay its debts as they become due or reorganization act; shall file a petition in bankruptcy, or (d) shall be adjudicated as bankrupt or insolvent, if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment adjudication is not vacated or otherwise removed within twenty ninety (2090) days; , or (e) if shall file a petition in any proceeding seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall file an execution answer admitting or attachment fail timely to contest the material allegations of a petition filed against it in any such proceeding, or shall be issued under which seek or consent to or acquiesce in the premises shall be taken appointment of any trustee, receiver or occupied liquidator of Lessee or attempted to be taken or occupied by an one other than Tenantany material part of its properties; or (f) if within ninety (90) days after the premises become and remain vacantor deserted for a period often (10) dayscommencement of any proceeding against Lessee seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, such proceeding shall not have been dismissed; or (g) if Tenant within ninety (90) days after the appointment, without the consent or acquiescence of Lessee, of any trustee, receiver or liquidator of Lessee or of any material part of its properties, such appointment shall default beyond any grace period under any other lease between Tenant and Landlordnot have been vacated; or (h) if Tenant this Lease or any estate of Lessee hereunder shall fail to move into be levied upon under any attachment or take possession writ of the premises execution and such attachment or writ of execution is not vacated within fifteen ten (1510) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provideddays.

Appears in 1 contract

Samples: Lease (Resourcephoenix Com Inc)

Default. 4. Landlord may terminate this lease on three (3) days' notice: 4.5.1 If (a) if rent default be made in the payment of Base Rent or additional rent is not paid within three any other sum or amount payable hereunder by Tenant, and such default shall continue for ten (310) days after receipt of written notice from Landlord; of default, or (b) if default be made in any of the other covenants or conditions herein contained on the part of Tenant and such default shall have failed to cure a default in the performance of any covenant of this lease continue for thirty (except the payment of rent), or any rule or regulation hereinafter set forth, within five (530) days after written notice thereof from Landlordshall have been given to Tenant, or (except that such thirty (30) day period shall be automatically extended for an additional period of time reasonably necessary to cure such default if such default cannot be completely cured in within such time, if first 30 day period and provided Tenant shall rot promptly proceed to cure commences the process of curing such default within said five (5) daysfirst 30-day period and continuously and diligently pursues such cure to completion), or shall not complete the curing of such default with due diligence; or (c) when and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a petition is filed by or against Tenant to have Tenant adjudged a bankrupt or for reorganization, liquidation, dissolution or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within ninety (90) days), or (e) a receiver or trustee is appointed for any portion of Tenant's; ’s or guarantor’s property shall be appointed and such appointment is receiver or trustee, as the case may be, shall not vacated be discharged within twenty ninety (2090) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; days after such appointment, or (f) if the premises become and remain vacantor deserted for a period often (10) days; Tenant shall be dissolved or liquidated or proceedings shall have been commenced to dissolve or liquidate, or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; fail to maintain insurance coverage as required herein, or (h) if Tenant shall fail make an assignment or Transfer in violation of this Lease, then in any such case, Landlord may, without further notice to move into Tenant, except as required by this subsection, terminate Tenant’s tenancy and recover possession of and reenter the Premises without accepting a surrender of the Premises or take affecting Tenant’s liability for past Rent and other charges due or future Rent and other charges to accrue hereunder. In the event of any such default, Landlord shall be entitled to recover from Tenant, in addition to Rent, all other actual damages sustained by Landlord proximately caused by the breach of this Lease, including, but not limited to, the costs, expenses and reasonable attorney fees incurred by Landlord in enforcing the terms and provisions hereof and in reentering and recovering possession of the premises within fifteen (15) days after commencement Premises and for the cost of repairs, alterations and brokerage and reasonable attorney fees connected with the reletting of the term Premises. As an alternative, at the election of this lease. At Landlord, Landlord shall have the expiration right to accept a surrender of the three Premises (3) day notice periodwithout the need for any affirmative act or acquiescence by Tenant), this lease without any further rights or obligations on the part of Landlord or Tenant (other than Tenant’s obligation for Rent and any rights of renewal or extension thereof shall terminate as completely as if that were other sum due and owing through the date originally fixed for of acceptance of surrender), so that Landlord may relet the expiration Premises without any right on the part of Tenant to any credit or payment resulting from any reletting of the term of this lease, but Premises. Tenant shall remain liable for the timely payment of any economic deficit or deficiency, if any, resulting from a reletting of the Premises pursuant to the terms of this Lease. Alternatively, at the option of the Landlord, in the event Tenant’s tenancy is so terminated, Landlord may recover forthwith against Tenant as hereinafter provideddamages for loss of the bargain and not as a penalty an aggregate sum, which at the time of such termination of Tenant’s tenancy, represents the amount of the excess, if any, of the value of the whole balance of Base Rent, charges and all other sums payable hereunder for the entire balance of the Term herein reserved or agreed to be paid by Tenant, over the then current fair market rental value of the Premises, such difference to be discounted to net present value at the rate of 1% per annum. In case of a default under this Lease, Landlord may, in addition to terminating Tenant’s tenancy and/or accepting a surrender, or in lieu thereof, pursue such other legal or equitable remedy or combination of remedies and recover such other damages for breach of tenancy and/or contract as available at law or otherwise. All of the remedies available to Landlord under this Lease shall be cumulative and may be exercised by Landlord without any prejudice to or waiver of Landlord’s rights, in any order or combination that Landlord shall require.

Appears in 1 contract

Samples: Triple Net Lease (Voltari Corp)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) if rent In the event that, prior to the Closing, Purchaser discovers or additional rent is not paid within three learns of information (3from whatever source, including, without limitation, the tenant estoppel certificate delivered pursuant to Section 10(a) days after below, as a result of Purchaser's due diligence tests, investigations and inspections of the Property, by disclosure from Seller or Seller's agents and employees or otherwise) that contradicts any of the representations and warranties of Seller contained herein, or renders any of such representations and warranties untrue or incorrect, Purchaser shall have the right, exercisable by giving written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, Seller within five (5) days after receiving notice of such information (but in any event prior to the Closing), either (i) to terminate this Agreement, in which case neither party shall have any further rights or obligations hereunder (except as may be expressly provided to the contrary elsewhere in this Agreement), and any money (including, without limitation, the Deposit and all interest accrued thereon) or documents in escrow shall be returned to the party depositing the same and Seller shall be responsible for any Cancellation Fees, or (ii) to accept the Property notwithstanding such information and nevertheless consummate the transaction contemplated by this Agreement, in which event thereafter Seller shall have no liability with respect to such information and/or any of such representations and warranties contradicted or made untrue or incorrect thereby. In the event, prior to the Closing, Seller defaults in any other manner under this Agreement, Purchaser shall have the right, exercisable by giving written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default Seller within said five (5) days, or shall not complete days after the curing date Purchaser learns of such default with due diligence; (but in any event prior to the Closing), either (i) to terminate this Agreement, in which case neither party shall have any further rights or obligations hereunder (except as may be expressly provided to the contrary elsewhere in this Agreement), and any money (including, without limitation, the Deposit and all interest accrued thereon) or documents in escrow shall be returned to the party depositing the same and Seller shall be responsible for any Cancellation Fees, or (cii) when to accept the Property notwithstanding such default by waiving such default and nevertheless consummating the transaction contemplated by this Agreement, in which event thereafter Seller shall have no liability with respect to such default. In the event Seller's default consists of Seller's refusal or failure to convey the Property, Purchaser's sole remedy shall be to elect either (i) to bring an action for specific performance; provided, however, that in any such action, Purchaser shall not be entitled to any monetary damages, or (ii) to terminate this Agreement, in which case neither party shall have any further rights or obligations hereunder (except as may be expressly provided to the extent permitted by lawcontrary elsewhere in this Agreement), if a petition and any money (including, without limitation, the Deposit and all interest accrued thereon) or documents in bankruptcy escrow shall be filed by or against Tenant or if Tenant returned to the party depositing the same and Seller shall make a general assignment be responsible for any Cancellation Fees. In the benefit of creditors, or receive the benefit event of any insolvency breach or reorganization act; default by Seller, which occurs or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment which Purchaser first discovers after the Closing, Purchaser shall be issued under which the premises shall be taken or occupied or attempted limited to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond recovering its actual damages but not any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter providedconsequential damages.

Appears in 1 contract

Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Brandywine Realty Trust)

Default. 417. Landlord may terminate (1) If Tenant defaults in fulfilling any of the covenants of this lease on three other than the covenants for the payment of rent or additional rent; or if this lease be rejected under §365 of Title 11 of the U.S. Code (3) days' notice: Bankruptcy Code); or if any execution or attachment shall be issued against Tenant or any of Tenant’s property whereupon the demised premises shall be taken or occupied by someone other than Tenant, or if a default shall occur under the Guaranty, as hereinafter defined, in (a) if rent or additional rent is the payment of any sums due thereunder which shall continue for thirty (30) days after notice of such non-payment to the guarantor thereunder, (b) delivery of any estoppel certificate required to be delivered pursuant thereto which shall not paid have been delivered within three ten (310) days after written notice from Landlord; that the time period for delivery of the estoppel certificate as set forth in Section lO.d of the guaranty has expired, (c) posting any required security deposit within the time required thereunder or (bd) the breach if any representation, warranty or covenant thereunder in any material respect which shall not be remedied within thirty (30) days after notice to such guarantor, then in any one or more of such events, upon Owner serving a written thirty (30) days notice upon Tenant specifying the nature of said default, and upon the expiration of said thirty (30) days, if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent)comply with or remedy such default, or any rule if the said default or regulation hereinafter set forthomission complained of shall be of a nature that the same cannot be completely cured or remedied within said thirty (30) day period, and if Tenant shall not have diligently commenced during such default within such thirty (30) day period, and shall not thereafter with reasonable diligence and in good faith, proceed to remedy or cure such default, then Owner may serve a written five (5) days after written notice thereof from Landlordof cancellation of this lease upon Tenant, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within and upon the expiration of said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when days this lease and to the extent permitted by law, if a petition in bankruptcy shall be filed by or against Tenant or if Tenant shall make a general assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At thereunder shall end and expire as fully and completely as if the expiration of the three such (35) day notice period, period were the day herein definitely fixed for the end and expiration of this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, thereof and Tenant shall then quit and surrender the demised premises to Owner but Tenant shall remain liable as hereinafter provided.

Appears in 1 contract

Samples: Attornment Agreement (Alliance Data Systems Corp)

Default. 4. Landlord may terminate this lease on three (3) days' notice: (a) All covenants and agreements herein made and obligations assumed are to be construed also as conditions and these presents and upon the express condition that if rent Lessee should fail to pay when due any one of the aforesaid installments of rent, or additional rent if either party should fail to perform or observe any of the covenants, agreements, or obligations herein made or assumed, and if such default is not paid cured within three ten (310) days (in the case of rental installments) or thirty (30) days (in case of other covenants, agreements or obligations herein made or assumed) after written notice of default, then, and thenceforth, in any of said events, this Lease may be terminated at the option of the non-defaulting party, and said Lessor may immediately re-enter said Premises and repossess and have the same as if Lessor's former estate, and remove therefrom all goods and chattels not thereto properly belonging and expel said Lessee and all other persons who may be in possession of said Premises. In the case of Lessee's default, Lessor shall be entitled to receive from Landlord; or Lessee the difference in rental, if any, between the rental herein reserved for the unexpired portion of the term and any lesser amount which Lessor, in the exercise of reasonable diligence, is able to procure for the unexpired portion of the term. In the case of Lessor's default, Lessee may remove their goods and chattels, vacate the Premises, and upon vacation have no further obligation for rent. (b) if Tenant shall have failed The right to cure terminate this Lease as herein set forth is in addition to and not in exhaustion of such other rights that a default in party hereto has or causes of action that may accrue because of the performance other party's failure to fulfill, perform or observe the obligations, agreements or covenants of this Lease, and the exercise or pursuit of any covenant of the rights or causes of action that a party hereto might otherwise have; and the defaulting party shall pay all attorney's fees and expenses occasioned by the default or failure to perform any of the obligations, covenants or provisions hereof, incurred in enforcing any of the provisions hereof or any of the rights hereunder. Notwithstanding any other provision of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (5) days, or shall not complete the curing of such default with due diligence; or (c) when and Lease to the extent permitted by lawcontrary, if a petition in bankruptcy Lessor and Lessee agree that neither the Lessor nor the Lessee shall be filed by liable or against Tenant or if Tenant shall make a general assignment responsible for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (consequential damages. 20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted to be taken or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice period, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.

Appears in 1 contract

Samples: United Stationers Supply Co

Default. 4. Landlord may terminate Any other provisions in this lease on three Lease notwithstanding, it shall be an event of default (3"Event of Default") days' noticeunder this Lease if: (ai) if rent Tenant fails to pay any installment of Fixed Rent, Additional Rent or additional rent is not paid within three other sum payable by Tenant hereunder when due and such failure continues for a period of ten (3) days after written notice from Landlord; or (b) if Tenant shall have failed to cure a default in the performance of any covenant of this lease (except the payment of rent), or any rule or regulation hereinafter set forth, within five (5) days after written notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed to cure such default within said five (510) days, or (ii) Tenant fails to observe or perform any other covenant or agreement of Tenant herein contained and such failure continues after written notice given by or on behalf of Landlord to Tenant for more than fifteen (15) days, or (iii) Tenant uses or occupies the Demised Premises other than as permitted hereunder, or (iv) Tenant assigns or sublets, or purports to assign or sublet, the Demised Premises or any part thereof other than in the manner and upon the conditions set forth herein, or (v) Tenant abandons or vacates the Demised Premises or without Landlord's prior written consent, Tenant removes or attempts to remove or manifests an intention to remove any or all of Tenant's property from the Demised Premises other than in the ordinary and usual course of Tenant's business, or (vi) Tenant files a petition commencing a voluntary case, or has filed against it a petition commencing an involuntary case, under the Federal Bankruptcy Code (Title 11 of the United States Code), as now or hereafter in effect, or under any similar law, or files or has filed against it a petition or answer in bankruptcy or for reorganization or for an arrangement pursuant to any state bankruptcy law or any similar state law, and, in the case of any such involuntary action, such action shall not complete be dismissed, discharged or denied within sixty (60) days after the curing of such default with due diligence; filing thereof, or Tenant consents or acquiesces in the filing thereof, or (cvii) when and if Tenant is a banking organization, Tenant files an application for protection, voluntary liquidation or dissolution applicable to banking organizations, or (viii) a custodian, receiver, trustee or liquidator of Tenant or of all or substantially all of Tenant's property or of the extent permitted by law, if a petition in bankruptcy Demised Premises shall be filed appointed in any proceedings brought by or against Tenant and, in the latter case, such entity shall not be discharged within sixty (60) days after such appointment or if Tenant consents to or acquiesces in such appointment, or (ix) Tenant shall generally not pay Tenant's debts as such debts become due, or shall make a general an assignment for the benefit of creditors, or receive the benefit of any insolvency or reorganization act; or (d) if a receiver or trustee is appointed for any portion of Tenant's; property and such appointment is not vacated within twenty (20) days; or (e) if an execution or attachment shall be issued under which the premises shall be taken or occupied or attempted admit in writing its inability to be taken or occupied by an one other than Tenant; or (f) if the premises pay its debts generally as they become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail to move into or take possession of the premises within fifteen (15) days after commencement of the term of this lease. At the expiration of the three (3) day notice perioddue, this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant shall remain liable as hereinafter provided.or

Appears in 1 contract

Samples: Agreement of Lease

Default. 4. Landlord may terminate this lease on three (31) days' notice: (a) if If Lessee shall default in the payment of rent or additional rent is not paid other ------- payment required of Lessee and shall fail to cure said default within three Fifteen (315) days after written notice of said default from Landlord; Lessor, or (b2) if Tenant Lessee shall have failed to cure a default in the performance or observance of any covenant of this lease other agreement or condition on its part to be performed or observed and if Lessee shall fail to cure said default within Fifteen (except the payment of rent), or any rule or regulation hereinafter set forth, within five (515) days after written receipt of notice of said default from Lessor (or if said default shall require longer than Fifteen (15) days after receipt of notice thereof from Landlord, or if default cannot be completely cured in such time, if Tenant shall rot promptly proceed and to cure such default within said five (5) days, or shall not complete prosecute the curing of such default the same to completion with due diligence; ) or (c3) when and to the extent permitted by if any person shall levy upon, or take this leasehold interest or any part thereof upon execution, attachment or other process of law, or (4) if a petition in bankruptcy shall be filed by or against Tenant or if Tenant Lessee shall make a general an assignment of its property for the benefit of creditors, or receive the benefit of any insolvency (5) if Lessee shall be declared bankrupt or reorganization act; insolvent according to law, or (d6) if any bankruptcy or insolvency proceedings shall be commenced by or against Lessee, or (7) if a receiver receiver, trustee or trustee is assignee shall be appointed for the whole or any portion part of Tenant's; Lessee's property then in any of said cases, Lessor lawfully may immediately, or at any time thereafter and such appointment is without any further notice or demand, enter into and upon the demised premises or any part thereof in the name of the whole, by force or otherwise, and hold the demised premises as if this Lease had not vacated within twenty been made, and expel Lessee and those claiming under it and remove its or their property (20forcibly, if necessary) days; or (e) if an execution or attachment shall be issued under which the premises shall be without being taken or occupied or attempted deemed to be taken guilty of any manner of trespass (or occupied by an one other than Tenant; or (f) if the premises become and remain vacantor deserted for a period often (10) days; or (g) if Tenant shall default beyond any grace period under any other lease between Tenant and Landlord; or (h) if Tenant shall fail Lessor may send written notice to move into or take possession Lessee of the premises within fifteen (15) days after commencement termination of the term of this lease. At Lease), and upon entry as aforesaid (or in the expiration event that Lessor shall send to Lessee notice of termination as above provided, on the fifth day next following the date of the three (3) day notice periodsending of the notice), this lease and any rights of renewal or extension thereof shall terminate as completely as if that were the date originally fixed for the expiration of the term of this lease, but Tenant Lease shall remain liable as hereinafter providedterminate.

Appears in 1 contract

Samples: Lease Agreement (Cardiotech International Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.