Common use of Tenant Default Clause in Contracts

Tenant Default. (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliates.

Appears in 4 contracts

Samples: Certificate and Agreement (Savvis Communications Corp), Certificate and Agreement (Savvis Communications Corp), Certificate and Agreement (Savvis Communications Corp)

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Tenant Default. (a) Any The failure to perform or honor any covenant, condition or representation made under this Lease shall constitute a “Default” hereunder by Tenant upon expiration of the following occurrences appropriate grace or acts shall constitute an “Event of Default” (herein so called) under cure period provided in this Lease: if (i) Paragraph 20(a). Tenant shall fail have a period of three (3) days from the date of written notice from Landlord (which notice shall be deemed to be the notice required by Section 1161 of the California Code of Civil Procedure; provided, however, that no such notice shall be deemed a forfeiture or termination of this Lease unless Landlord expressly so elects in such notice) within which to cure any failure to pay any scheduled installment of Fixed Monthly Base Rent or Additional Rent when due and Charges; provided, however, that Landlord shall not be required to provide such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less notice more than two (2) Installment Default Notices by Landlord, Tenant shall fail times during any two (2) year period during the Term with respect to pay any scheduled installment non-payment of Fixed Monthly Base Rent or Additional Rent when due and Charges, the third such failure non-payment constituting Default without requirement of notice. Tenant shall continue uncured for have a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after from the date of receipt of written notice thereof from Landlord (or Lender) specifying such default, which notice shall be deemed to be the notice required by Section 1161 of the California Code of Civil Procedure; provided, however, that if Tenant has commenced no such notice shall be deemed a forfeiture or termination of this Lease unless Landlord expressly so elects in such notice) within which to cure a default described in subparagraph (iv) above within said thirty (30) daysany other curable failure to perform any obligations under this Lease; provided, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such however, that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to any curable failure to perform a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may non-monetary obligation that cannot reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment , the cure period shall be issued against extended for an additional period of time reasonably required to cause such cure if Tenant or any of its property whereby the Premises commences to cure and provides Landlord with a planned process and expected timing to complete such cure (which shall be taken or occupied or attempted reasonably acceptable to Landlord) within thirty (30) days from Landlord’s notice and continues to prosecute diligently the curing thereof to completion consistent with such planned process and expected timing as they may be taken or occupied subsequently revised by someone other than Tenant, and the same with Landlord’s approval in Landlord’s reasonable discretion, provided that such cure period shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or in no event extend beyond ninety (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (6090) days after Landlord’s notice. Notwithstanding the commencement thereofforegoing, (i) if a specific time for performance or a different cure period is specified elsewhere in this Lease with respect to any specific obligation of Tenant, such specific performance or cure period shall apply with respect to a failure of such obligation in lieu of, and not in addition to, the cure period provided in this Paragraph 20(a); or (viiii) the estate or interest of Tenant cure period specified in Paragraph 24 shall apply with respect to Landlord’s rights to cure Tenant’s failure to perform pursuant to Paragraph 24, and (iii) the Premises shall be levied upon or attached cure rights provided in any proceeding and such estate or interest is about to be sold or transferred and such process this Paragraph 20(a) shall not be vacated extend the specific time for compliance with any required delivery, approval or discharged within sixty (60) days after such levy performance obligation under Paragraph 14, 16 or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any 32 of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its AffiliatesLease.

Appears in 3 contracts

Samples: Lease Agreement (Cloudera, Inc.), Lease Agreement (Cloudera, Inc.), Lease Agreement (Cloudera, Inc.)

Tenant Default. (a) Any All of Tenant’s covenants and agreements under this Lease are to be construed as conditions precedent to Tenant’s peaceful and quiet possession of the following occurrences or acts shall constitute an “Event Leased Premises during the term of Default” (herein so called) under this Lease: . If Tenant timely pays all of the aforesaid installments of Rent and Additional Rent, if (i) any, and performs and observes all of the covenants, agreements and obligations of Tenant, subject to all other terms and conditions of this Lease, then Tenant’s peaceful and quiet possession of the Leased Premises during the term of this Lease shall not be disturbed by Landlord or by anyone claiming by, through or under Landlord. If Tenant shall fail fails to pay when due any scheduled installment one of Fixed installments of Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); Rent, if any, or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail fails to pay perform or observe any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of Tenant, and if such failure continues for seven (7) days (in the case of monetary default) or fifteen (15) days (in the case of non-monetary default, then the Tenant shall be in default. Thereafter, this Lease may be forfeited and thereby become null and void at the option of Landlord and Landlord may immediately, or at any time thereafter, re-enter the Leased Premises or any part thereof, and accelerate all Rent and charges due, including any costs incurred by Landlord including re-leasing commissions, attorney fees, tenant improvement costs and any other direct expenses incurred by Landlord as a result of Tenant’s default, which amount shall become immediately due and payable by Tenant to Landlord plus applicable late charges if not paid when due. In the event Tenant vacates the Leased Premises for any period in excess of seven (7) days, Landlord, at its option, shall have the right, but not the duty, to immediately re-enter into possession of the Leased Premises for the purpose of leasing said Leased Premises and change the locks to the Leased Premises. Landlord will refund to Tenant any sum received as a result of leasing out said Leased Premises during any remaining portion of the Initial Lease Term, after Landlord shall have received the balance due as provided above, including any costs incurred by Landlord including leasing commissions, attorney fees, tenant improvement costs and any other direct expenses incurred by Landlord as a result of Tenant’s default. Landlord shall use reasonable diligence in connection with the leasing of said Leased Premises. In case of a default in payment by Tenant or any other violation of this Lease, in Tenant’s absence from the Leased Premises, service of process on Tenant’s statutory agent should be good and such default shall continue for more than thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is valid service upon the Tenant. Acceptance of a nature such that it canpartial Rent payment shall not be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for constitute a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach waiver of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the GuarantorLandlord’s guaranty of Tenant’s obligations rights available under this Lease or at law or equity, including, without limitation, the right to recover possession of the Leased Premises. Tenant hereby irrevocably waives any right otherwise available under any law to redeem or reinstate this Lease or renegotiate this Lease or Tenant’s right to possession after this Lease or Tenant’s right to possession is terminated for any reason, or the Guarantor asserts based on a default by Tenant. The parties hereby waive trial by jury in any pleading action, proceeding or judicial counterclaim brought by either of the parties hereto against the other or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein matters whatsoever arising out of or in any document delivered pursuant to way connected with this Lease is misleading Lease, the relationship of Landlord and Tenant, Tenant’s use or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any occupancy of the covenantsLeased Premises, agreements and/or claim of injury or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliatesdamage.

Appears in 2 contracts

Samples: Commercial Lease Agreement (Zomedica Pharmaceuticals Corp.), Commercial Lease Agreement (Zomedica Pharmaceuticals Corp.)

Tenant Default. (aA) Any In the event any default by Tenant continues, in case of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured rent, for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less more than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days after due, or (ii) Tenant shall default in the payment when due case of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenantsdefault, agreements or obligations of this Lease, and such default shall continue for more than thirty twenty (3020) days after written notice thereof to Tenant from Landlord (or Lender) specifying such defaultunless Tenant has, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty twenty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (3020) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary commenced to cure such default so long as (A) Tenant delivers to Landlord a certificate and thereafter prosecutes the curing of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, completion with due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismisseddiligence), or discharged as promptly as possible under the circumstances; or (vi) if Tenant or Guarantor (A) shall make makes any assignment or other similar act for the benefit of creditors, (B) shall file commits any act of bankruptcy or files a petition or take any other action seeking relief under any state bankruptcy or federal insolvency or bankruptcy Lawslaw, or (C) shall have an involuntary if such a petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action Tenant is not vacated or dismissed within sixty (60) days after days, or if a receiver or similar officer becomes entitled to the commencement thereof; or (vii) the estate or interest of leasehold and it is not returned to Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy days, or attachment; or (viii) the Guarantor’s guaranty of if Tenant’s obligations under 's interest in this Lease is terminated for taken on execution or other process of law in any reasonaction against Tenant, then, in any such instance, Landlord may, immediately or at any time thereafter (notwithstanding any license, consent or waiver of any former breach), and without demand or notice, in person or by agent or attorney, enter the Leased Premises or any part thereof and repossess the same as of its former estate, or the Guarantor asserts terminate this Lease by written notice to Tenant and, in either event, expel Tenant and those claiming through or under it, and remove their effects (forcibly, if necessary), without being deemed guilty of any pleading manner of trespass and without prejudice to any remedy which otherwise might be available for arrears of rent or judicial breach of covenant and, upon entry or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor notice as aforesaid, this Lease shall terminate and Landlord, in addition to Landlord or the Lender herein all other remedies which it may have at law or in equity, shall have the remedies provided in Section 12 hereof. Tenant hereby waives and surrenders all rights and privileges which it might have under or by reason of any document delivered pursuant present or future law to redeem the Leased Premises, or to have continuance of this Lease is misleading for the term hereby leased, after being dispossessed or false in material respect when madeejected therefrom by process of law or under the terms of this Lease, or (x) a default beyond applicable notice and cure periods shall occur in after the fulfillment termination of any of the covenantsthis Lease, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliatesas herein provided.

Appears in 2 contracts

Samples: Lease (Technest Holdings Inc), Lease (Technest Holdings Inc)

Tenant Default. (a) Any Tenant shall be deemed in "TENANT DEFAULT" of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: Lease if (i) Tenant shall fail fails to pay any scheduled installment of Fixed Rent or Additional Rent when due and fails to cure such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, delinquency within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days after receipt of a written notice of such delinquency (provided that such five day cure period shall only apply to the first two delinquencies in any calendar year) or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent fails to Tenant by Landlord (perform or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling comply with any of the other material covenants, agreements terms, or obligations conditions of this Lease, and such default shall continue for more than Lease that is not cured within thirty (30) days after of written notice thereof from Landlord (or Lender) specifying such defaultLandlord, providedprovided however, that as to non-monetary defaults, it will not constitute a Tenant Default if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) daysthe matter cannot, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot employing all reasonable diligent efforts, be cured within such thirty (30) day period, said so long as Tenant has within such thirty (30) day period shall be extended, for commenced curing such material breach and thereafter diligently and continuously proceeds with the curing of same within a reasonable time (not period of time. Upon a Tenant Default, Landlord shall have the option to exceed an additional ninety (90) days) or, with respect pursue any remedy available to a Landlord at law or in equity for the breach of Tenant’s obligations under Section 40 this Lease, provided, however, that in any action for damages, Landlord shall only be entitled to recover its actual damages and shall have no right to recover consequential damages, punitive damages, lost profits or foregone business opportunities. Monetary payments not made by Tenant after the five (5) day cure period shall bear compound interest per annum from and after the date it was due at the lesser of this Part II(i) the Prime Rate (as defined by The Wall Street Journal from time to time), such longer period as may reasonably be necessary to cure such default so long as plus five percent (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws5%), or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (viiii) the estate or maximum amount of interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made permitted by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliateslaw.

Appears in 2 contracts

Samples: Real Property Purchase and Sale Agreement (Hines Horticulture Inc), Lease (Hines Horticulture Inc)

Tenant Default. (a) Any In addition to any other event specified in this Lease as an event of default, the occurrence of any one or more of the following occurrences or acts events during the Term shall constitute an event of default hereunder by Tenant (each, an “Event of Default”): (herein so called) under this Lease: if (i1) Tenant shall fail fails to pay any scheduled installment of Fixed Rent or Additional Rent sum when due hereunder and such failure is not remedied within five (5) days after written notice thereof from Landlord to Tenant; or (2) Tenant fails to perform any of the other covenants, terms or conditions of this Lease to be performed by Tenant (other than any monetary default), and, unless expressly provided elsewhere in this Lease, such default shall continue uncured for fifteen (15) days after written notice thereof from Landlord to Tenant, or, in the case of a default which cannot with due diligence be cured within fifteen (15) days, Tenant fails to commence such cure promptly within such fifteen (15) day period and thereafter diligently prosecute such cure to completion; or (3) Tenant or Guarantor files a voluntary petition in bankruptcy or becomes insolvent within the meaning of any applicable bankruptcy code (the “Code”), or a petition is filed against Tenant or Guarantor under the Code and is not dismissed with prejudice within sixty (60) days after filing, or Tenant files any petition or answer seeking reorganization or similar relief under any bankruptcy or other applicable law, or seeks or consents to the appointment of a receiver or other custodian for any substantial part of Tenant’s properties or any part of the Premises; or (4) Guarantor shall default beyond any applicable notice and/or grace period under the Guaranty; or (5) the Premises shall be effectively abandoned by Tenant for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender)days; or (iii6) a lien or claim is filed against the failure Premises arising out of any work performed by or on behalf of Tenant and Tenant fails to maintain insurance as required under this Lease; discharge such lien or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and remedy such default shall continue for more than claim within thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement filing thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliates.

Appears in 2 contracts

Samples: Lease Agreement (Portola Packaging Inc), Lease Agreement (Portola Packaging Inc)

Tenant Default. (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliates.as

Appears in 1 contract

Samples: Lease (Savvis Communications Corp)

Tenant Default. (a) Any The failure to perform or honor any covenant, condition or representation made under this Lease shall constitute a default hereunder by Tenant upon expiration of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) appropriate cure period. Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for have a period of ten (10) days after from the date of written notice from Landlord notifies within which to cure any default in the payment of Rent or Additional Charges. Said right to cure shall terminate and Tenant shall be in writing breach of its obligations herein and shall be subject to Landlord’s rights and remedies under the terms of this agreement, should such failure default occur more than two (each an “Installment Default Notice”); or if, within a 2) times during any twelve (12) month period following delivery during the term of not less than two (2) Installment Default Notices by Landlord, this Lease. Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for have a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after from the date of written notice thereof from Landlord (within which to cure any default that is capable of being cured other than a default in the payment of Rent or Lender) specifying such default, Additional Charges under this Lease; provided, however, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach any default other than the payment of Tenant’s obligations under Section 40 of this Part II, such longer period as may Rent or Additional Charges that cannot reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby , the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same default shall not be bonded, dismisseddeemed to be uncured if Tenant commences to cure within thirty (30) days from Landlord’s notice and continues to prosecute diligently the cure thereof. The appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or discharged as promptly as possible under the circumstances; or (vi) an assignment of Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take the filing of any other action seeking relief under any state or federal insolvency or bankruptcy Lawsinsolvency, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition bankruptcy, reorganization or other action is debtor relief proceedings, whether now existing or hereafter amended or enacted, by or against Tenant shall at Landlord’s option constitute a default under this Lease if not vacated or dismissed within sixty (60) days after the commencement thereof; of filing. In no event shall this Lease be assigned or (vii) the estate assignable by or interest in connection with voluntary or involuntary bankruptcy proceedings or otherwise and in no event shall this Lease or any rights or privileges hereunder be an asset of Tenant in under any bankruptcy, insolvency, reorganization or other debtor relief proceeding. Notwithstanding the Premises foregoing, Tenant’s failure to comply with Sections 9 and 10(d) herein shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) deemed a breach of this Lease without the Guarantor’s guaranty benefit of the cure periods provided above. Notwithstanding the foregoing, Tenant’s obligations under failure to comply with Section 13 following three (3) business days’ written notice from Landlord of such default herein shall be deemed a breach of this Lease is terminated for without the benefit of the cure periods provided above. Upon an uncured default of this Lease by Tenant, and in addition to Landlord’s rights and remedies under the terms of this Lease and any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor other rights and remedies available to Landlord or the Lender herein at law or in any document delivered pursuant to this Lease is misleading or false in material respect when madeequity, or (x) a default beyond applicable notice Landlord shall have the following rights and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliates.remedies:

Appears in 1 contract

Samples: Lease Agreement (SP Plus Corp)

Tenant Default. (a) Any of the following occurrences or acts shall constitute an Event of Default” Default (herein so called) under this Lease: if (i) Tenant shall fail to pay default in the payment when due of any scheduled installment of Fixed Rent or Additional Rent when due payable hereunder, and such failure default shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days after the Due Date thereof; or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day periodcompletion, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety one hundred eighty (90180) days) days or, with respect to a breach of Tenant’s 's obligations under Section 40 Article 34 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s 's guaranty of Tenant’s 's obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in connection with Landlord's purchase of the Premises or in any document delivered pursuant to this Lease is misleading or false in material respect when made, ; or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliates[Intentionally omitted].

Appears in 1 contract

Samples: Certificate and Agreement (American Realty Capital Trust, Inc.)

Tenant Default. (a) Any The following events shall be events of the following occurrences or acts shall constitute an “Event of Default” (herein so called) default by Tenant under this Leaselease: if (ia) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due the rent hereby reserved and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12days. b) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay comply with any scheduled installment of Fixed Rent term, provision, or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations covenant of this Lease, and such default shall continue for more other than thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) daysthe payment of rent, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it canshall not be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured failure within thirty (30) days; or (v. c) any execution or attachment Tenant shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissedbecome insolvent, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any a transfer in fraud of creditors, or shall make an assignment or other similar act for the benefit of creditors, (B. d) Tenant shall file a petition or take any other action seeking relief under any state section or federal insolvency or bankruptcy Lawschapter of the National Bankruptcy Act, as amended, or (C) shall have an involuntary petition under any similar law or statute of the United States or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement State thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon adjudged bankrupt or attached insolvent in any proceeding and such estate proceedings filed against Tenant thereunder. e) A receiver or interest is about to Trustee shall be sold appointed for all or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) substantially of all the Guarantor’s guaranty assets of Tenant’s obligations under . f) Tenant shall desert or vacate any substantial portion of the premises. Upon the occurrence of any such events of default, Landlord shall have the option to pursue any one or more of the following remedies without any notice of demand whatsoever: 1) Terminate this Lease is terminated Lease, in which event Tenant shall immediately surrender the premises to Landlord, and if Tenant fails so to do, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take possession of the leased premises and expel or remove Tenant and any reasonother person who may be occupying said premises or any part thereof, by force if necessary, without being liable for prosecution or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunderclaim of damages therefore; or (ix) any material representation or warranty made by and Tenant or Guarantor agrees pay to Landlord or on demand the Lender herein or in any document delivered pursuant amount of all loss and damage which Landlord may suffer by reason of such termination, whether through inability to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and relet the premises demised thereby are then owned by the entity that is on satisfactory terms or otherwise, including any damages Landlord on the Lease Commencement Date or by one may incur because of its Affiliatesspecial sums expended for fixing up premises for Tenant.

Appears in 1 contract

Samples: Lease Agreement (Spectranetics Corp)

Tenant Default. The following shall be considered for all purposes to be defaults under and breaches of this Lease (a) Any of the following occurrences or acts shall constitute each, an “Event of Default”): (herein a) any failure of Tenant to pay any rent or other amount when due following five (5) days written notice to Tenant specifying the amount overdue hereunder, (b) except for Sections 3.4, 8.4(F), 8.8, 8.9 and 12.4 of this Lease (as to which a cure period(s) is provided and which are not subject to the cure right provided for in this subsection (b)), any failure by Tenant to perform or observe any other of the terms, provisions, conditions or covenants of this Lease for more than fifteen (15) days after written notice of such failure provided; however, that if the default complained of in such notice is of such a nature that the same can be rectified or cured, but cannot with reasonable diligence be cured within said fifteen (15) day period, then such default shall be deemed to be rectified or cured if Tenant shall, within said fifteen (15) day period, commence to rectify and cure the same and shall thereafter complete such rectification and cure with all due diligence; (c) a determination by Landlord that Tenant has knowingly and intentionally submitted any false report required to be furnished hereunder; (d) the insolvency of Tenant or the filing by or against Tenant of a petition in bankruptcy (which is not dismissed within ninety (90) days of the date filed) or for reorganization or arrangement or for the appointment of a receiver or trustee of all or a portion of Tenant’s property, or Tenant’s assignment for the benefit of creditors; (e) if Tenant abandons or vacates or does not do business in the Premises when required to do so called) under this Lease, (excluding periods of temporary closure for repairs, remodeling or the like); (g) if Tenant, except as otherwise allowed in this Lease, does not do business in the Premises when required to do so; or (f) this Lease or Tenant’s interest herein or in the Premises or any improvements thereon are executed upon or attached or the Premises come into the hands of any person other than as expressly permitted under this Lease. In any such event, and without grace period, demand or notice (the same being hereby waived by Tenant), Landlord, in addition to all other rights or remedies it may have, and notwithstanding Section 24.16 of this Lease, shall have the right thereupon or at any time thereafter (without first submitting the dispute, controversy or claim to arbitration pursuant to Section 24.16 of this Lease) to terminate this Lease, and shall have the right, either before or after any such termination, to re-enter and take possession of the Premises, remove all persons and property from the Premises, store such property at Tenant’s expense and risk, and sell such property (but not including the Titanic and/or Bodies exhibits) if necessary to satisfy any deficiency in payments by Tenant as required hereunder, all without notice or resort to legal process and without being deemed guilty of trespass or constructive eviction or becoming liable for any loss or damage occasioned thereby. Nothing herein shall be construed to require Landlord to give any notice before exercising any of Landlord’s rights and remedies provided for in Section 3.4 of this Lease. In addition, and notwithstanding anything to the contrary set forth above or elsewhere in this Lease, if written notice has been sent to Tenant pursuant to this Section 17.1 with respect to any one or combination of the following: if (ia) the timely payment of any rent due Landlord from Tenant shall fail or the payment of any other money due Landlord from Tenant under the terms of this Lease, (b) the timely reporting by Tenant of Gross Sales as required by this Lease, or (c) the failure of Tenant to pay provide Landlord with a current set of keys to the Premises as required by Section 20.1 of this Lease; two (2) or more times in any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten twelve (1012) days after Landlord notifies consecutive months during the Term, then, notwithstanding that such prior default may have been cured, any further written notice to Tenant of an event as set forth in writing (a) through (c) of such failure (each an “Installment Default Notice”); or if, this Section within a twelve (12) month period following delivery shall be deemed to be a “Repeated Event of not less than two (2) Installment Default Notices by Default”. In the event of a Repeated Event of Default, Landlord, without affording Tenant shall fail an opportunity to pay any scheduled installment cure such Repeated Event of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after Default, may terminate this Lease forthwith by notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than given within thirty (30) days after written notice thereof from Landlord (or Lender) specifying of such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is Repeated Event of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its AffiliatesDefault.

Appears in 1 contract

Samples: Lease (Premier Exhibitions, Inc.)

Tenant Default. (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) If Tenant shall default in the payment when due of rent to be paid by Tenant under this Lease or in the compliance with any installment provision of Additional Rent payable hereunder this Lease and such default of Tenant shall continue uncured for ten fifteen (1015) days after notice in the case of such a monetary default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days in the case of a non- monetary default after written notice thereof from the Landlord, then the Landlord, by giving written notice to Tenant, may either (i) terminate this Lease, or (ii) re-enter the Premises by summary proceedings, in either event, removing Tenant . and removing all property from the Premises and re-renting the Premises at the best possible rent obtainable, and receive the rent therefrom and apply such rent to the Annual Rent and other charges due under this Lease; provided, however, Tenant shall remain liable for the amount of all rent for the entire term of this Lease less the monies actually collected from such re- renting which Landlord (or Lender) specifying such shall apply to rent and other charges due under this Lease, if any. Notwithstanding the foregoing, in the case of a non-monetary default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such non-monetary default is not reasonably capable of a nature such that it cannot be being cured within such the original thirty (30) day period, said thirty (30) day then the period for curing such default shall be extended, extended for a so long as Tenant is proceeding with reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary diligence to cure such default so long as (A) Tenant delivers to Landlord default. If a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is petition in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment bankruptcy shall be issued against filed by Tenant, or Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenantadjudicated a bankrupt, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) ot Tenant or Guarantor (A) shall make any a general assignment or other similar act for the benefit of creditors, (B) shall file or if due to any proceeding based upon the insolvency of Tenant, a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either receiver of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after all of the commencement thereof; or (vii) the estate or interest property of Tenant in the Premises shall be levied upon or attached in any proceeding appointed and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty appointment, then Landlord may terminate this Lease by giving written notice to Tenant of Tenant’s obligations its intention to do so. Landlord shall use reasonable efforts to mitigate its damages upon a default by Tenant under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its AffiliatesLease.

Appears in 1 contract

Samples: Aei Income & Growth Fund 25 LLC

Tenant Default. Tenant’s failure to pay Annual Fixed Rent, Additional Rent or any other amount due hereunder which failure shall continue for at least five (a5) Any days after notice of the following occurrences or acts such failure shall constitute an “Event of Default” a default hereunder; provided, however, if, on two (herein so called2) under this Lease: if occasions during any consecutive twelve (i12) month period during the Term, Tenant shall fail fails to pay any scheduled installment of Annual Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten but does pay the same within five (105) days after Landlord notifies Tenant in writing notice of such failure, then Tenant’s subsequent failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Annual Fixed Rent or Additional Rent when due and such during said twelve (12) month period shall constitute a default hereunder without the need for notice and/or a grace period. Tenant’s failure to observe or perform any other covenant or agreement contained herein which failure shall continue uncured for a period of five thirty (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (1030) days after notice of such non-observance or non-performance, shall constitute a default is sent hereunder. In the event of any such default by Tenant hereunder, in addition to all other remedies available at law or in equity, Landlord shall be entitled to terminate this Lease by notice to Tenant, whereupon, at Landlord’s election, all of the Annual Fixed Rent and Additional Rent due for the remainder of the Term shall immediately become due and payable. If Landlord shall elect to accelerate Tenant’s rental obligations pursuant to the preceding sentence, Landlord shall credit Tenant with the net proceeds, if any, of any reletting of the Premises to the extent such proceeds are allocable to periods within the remainder of the Term, after deducting all expenses incurred by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under in terminating this Lease; or (iv) Tenant shall default in fulfilling any Lease and recovering possession of the other covenantsPremises and in connection with such reletting, agreements or obligations including, without limitation, attorney’s fees and expenses, brokerage commissions, advertising costs, alteration costs, the value of this Leaseany tenant inducements (including but without limitation free rent, moving costs, and contributions toward leasehold improvements) and any other expenses incurred in preparation for such default reletting. Landlord shall continue in no event be liable for more than thirty (30) days after written notice thereof from failure to relet the Premises, or, in the event that the Premises are relet, for failure to collect the rent under such reletting. Landlord (or Lender) specifying such default, provided, that if Tenant has commenced shall make a good faith effort to cure relet the Premises following a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary but subject to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to accordance with the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliates.following criteria:

Appears in 1 contract

Samples: Lease (Vidara Therapeutics International LTD)

Tenant Default. (a) Any The occurrence of any one of the following occurrences events constitutes a default by the Tenant and a breach of this Lease and its covenants by the Tenant, if such default, breach or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due non-performance is continued and such failure shall continue uncured for a period of not cured within ten (10) days after Landlord notifies written notice from Landlord: (a) the vacating or abandonment of the Premises by Tenant, or the failure of the Tenant in writing to be open for business and remain open for the conduct of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default business as described in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten Use Clause found in the Lease; (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iiib) the failure by Tenant to maintain insurance as required under make any payment of Base Rent, Additional Rent, and Additional Rent Charges and adjustments on or before the due date thereof, (c) the failure by Tenant to perform any covenants herein or the breach by Tenant of any Lease covenants herein, other than those described in sections (a) and (b) of this LeaseArticle 27, and the further failure by Tenant to cure such covenant, breach or non-performance, or to commence to cure and diligently pursue the cure of the covenant, breach or non-performance which cannot be fully remedied within ten (10) days; (d) the filing of a petition for Tenant’s bankruptcy, insolvency, or general assignment for the benefit of its creditors, or receiver appointment for Tenant for the substantial part of its assets and properties and such receiver is not removed within five (iv5) days after its appointment. If the Tenant shall default as described in fulfilling this Article 27, or in the performance of any of the other covenants, agreements or obligations of covenant contained in this Lease, and if such default is repeated once within the next twelve months then, notwithstanding that such defaults shall continue have been cured within the period after notice as herein provided, any further similar default within such twelve month period shall be deemed a Tenant Default which cannot be cured, notwithstanding provisions for more than thirty (30) days after written notice thereof from Landlord (or Lender) specifying cure provided in this Lease. Upon such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) orthe Landlord may proceed, with respect five days notice but no opportunity for cure, to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a exercise its remedies upon default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliates.

Appears in 1 contract

Samples: Lease (ADS Tactical, Inc.)

Tenant Default. (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under If Tenant fails to comply with any obligation set forth in this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, Lease within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof from Landlord (or Lenderfive (5) specifying business days for any monetary default) after receipt of notice of such defaultfailure, providedthen, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) daysLandlord may with or without further notice or demand, at Landlord's option, and thereafter is in good faith diligently prosecuting same to completion and such default is without being deemed guilty of a nature such that it cannot trespass and/or without prejudicing any remedy or remedies which might otherwise be cured within such thirty (30) day period, said thirty (30) day period shall be extended, used by Landlord for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a arrearages or preceding breach of Tenant’s obligations under Section 40 covenant or condition of this Part IILease, enter into and repossess said Premises and expel the Tenant and all those claiming under Tenant. In such longer period event Landlord may eject and remove from the Premises all goods and effects (forcibly if necessary). This Lease if not otherwise terminated may immediately be declared by Landlord as may reasonably be necessary terminated. The termination of this Lease pursuant to cure such default so long as (A) this Section 19 shall not relieve Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby obligations to make the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and payments required herein. In the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under event this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when madeSection 19, or (x) if Landlord enters the Premises without terminating this Lease and Landlord relets all or a portion of the Premises, Tenant shall be liable to Landlord for all reasonable costs of reletting. Tenant shall remain liable for all unpaid rental which has been earned plus late payment charges and any deficiency between the net amounts received following reletting and the gross amounts due from Tenant, or if Landlord elects, Tenant shall be immediately liable for all rent that would be owing to the end of the term, less any rental loss Tenant proves could be reasonably avoided, which amount shall be discounted by the discount rate of the Federal Reserve Bank, situated nearest to the Premises. Waiver by the Landlord of any default, monetary or non-monetary, under this Lease shall not be deemed a waiver of any future default under the Lease. Acceptance of Rent by Landlord after a default beyond applicable notice and cure periods shall occur in the fulfillment not be deemed a waiver of any defaults (except the default pertaining to the particular payment accepted) and shall not act as a waiver of the covenants, agreements right of Landlord to terminate this Lease as a result of such defaults by an unlawful detainer action or obligations of otherwise. Landlord shall promptly and continually pursue all commercially reasonable efforts and means to relet the tenant under any of the Related Leases and the premises demised thereby are then owned Premises following a default by the entity that is Landlord on the Lease Commencement Date or by one of its AffiliatesTenant.

Appears in 1 contract

Samples: Office Lease Agreement (F5 Networks Inc)

Tenant Default. If (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when any other sum provided for under this Lease on or before the date that the same shall have become due and payable and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, not be cured within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days after written notice thereof from Landlord; provided, however, that such right to written notice shall be limited to a maximum of two (2) times during each calendar year during the Lease Term, or (iib) Tenant shall default in fail to take possession of the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten Leased Premises within thirty (1030) days after written notice of such default is sent to from Landlord that Landlord’s Work and the Tenant Improvements are Substantially Complete and that the same are ready for occupancy by Landlord (or Lender); Tenant, or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (ivc) Tenant shall default in fulfilling assign this Lease or sublet the whole or any part of the Leased Premises or permit any other covenantsperson to occupy the whole or any part of the Leased Premises in violation of the terms and conditions set forth in Article XI herein, agreements or obligations (d) Tenant shall fail to maintain any insurance pursuant to the terms of this Lease, or (e) bankruptcy or other insolvency proceedings shall be instituted by Tenant, or (f) bankruptcy proceedings shall be instituted against Tenant which are not withdrawn or dismissed within thirty (30) days after the institution of said proceedings, or (g) an assignment shall be made by Tenant for the benefit of creditors by legal proceedings or otherwise, or (h) Tenant shall fail to comply with any provision of Articles IV, V or X of this Lease and such default failure shall continue for more than not be cured within fifteen (15) days after written notice thereof from Landlord, or Tenant shall repeatedly violate the provisions of any such Article, or (j) Tenant shall breach or fail to perform any other term, condition or covenant of this Lease and such failure shall not be cured within thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, Landlord; provided, that if Tenant has commenced to shall commence the cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day periodperiod and proceed diligently thereafter to cure the failure specified in the notice but shall not be able to do so, said thirty (30) day period then any such failure shall not be extended, for considered a Tenant Default so long as Tenant shall continue to exercise good faith diligent efforts to cure such failure and shall do so within a reasonable time (period of time, not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, then and in any such longer period as may reasonably be necessary to cure such default so long as (A) event Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or in default hereunder (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any each of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that foregoing is Landlord on the Lease Commencement Date or by one of its Affiliateshereinafter referred to as a “Tenant Default”).

Appears in 1 contract

Samples: Lease Agreement (Ansys Inc)

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Tenant Default. (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this LeaseIt is expressly agreed that if: if (i) Tenant shall fail neglect to pay make any scheduled installment payment of Fixed Rent or Additional Rent when due or any other charges when due hereunder and such failure shall continue uncured remain in default for a period of ten fifteen (1015) days after written notice of same from Landlord notifies Tenant in writing (except that with respect to the first payment of Rent due hereunder, such failure (each an “Installment Default Notice”); or if, within a twelve (12) month time period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of be forty-five (545) days in order to permit Tenant to set up payments within Tenant’s accounting system) or (ii) Tenant shall default in the payment when due of fail to perform any installment of Additional Rent payable hereunder matter or thing herein agreed to be done and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure performed by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any for a period of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof of same from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced longer period as may be reasonably necessary to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and correct such default is of a nature such that it cannot be cured if within such thirty (30) day periodperiod Tenant shall commence cure of such default and thereafter diligently pursue correction thereof) beyond any applicable notice or cure period provided therein (each of (i) and (ii) hereinafter being referred to as a (“Tenant Default”); then in any such events, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Landlord may thereupon declare Tenant’s obligations under Section 40 rights of possession canceled and take possession of the Premises without prejudice to any other legal remedy it may have on account of such default to collect Rent from Tenant for the remainder of the term of this Part IIAgreement. In any action by Landlord against Tenant that arises under this Lease, such longer period as may reasonably be necessary Landlord shall attempt to cure such default so long as (A) Tenant delivers mitigate damages by using commercially reasonable efforts to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure seek to completion) where, due relet the Premises. Notwithstanding anything to the nature of a defaultcontrary, it is unable in no event shall Landlord have the right to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby accelerate the Premises shall be taken or occupied or attempted to be taken or occupied by someone Rent and other than Tenant, and the same shall not be bonded, dismissedamounts payable hereunder, or discharged as promptly as possible under the circumstances; or (vi) sxx Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reasonconsequential, punitive or the Guarantor asserts in incidental damages including, without limitation, any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliatesclaims for lost profits and/or lost business opportunity.

Appears in 1 contract

Samples: Strategic Alliance Agreement (Nationsrent Inc)

Tenant Default. Landlord shall provide written notice to Equipment Lessor (“Default Notice”) of any defaults by the Tenant under the Lease (a “Default”) and such Default Notice shall be sent to Equipment Lessor at Equipment Lessor’s address set forth in the introductory paragraph of this Amendment. If Tenant fails to cure any such Default within ter. {10) days of the date of such Default, and Equipment Lessor (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail provides written notice to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of Landlord within ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment the date of the Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail Notice that Equipment Lessor desires to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured occupy the Premises for a period equal to the lesser of five (5i) days six (6) months commencing on the date of the Default Notice, or (ii) the then remaining term of the Lease (the “Step-In Term”), and (b) Equipment Lessor has cured all Defaults by Tenant (provided however , Equipment Lessor shall default not be required to pay the Extra Rent set forth in Section 2 above), then Landlord consents to Equipment Lessor having the payment when right to occupy the Premises for such Step-In Term provided that Equipment Lessor fulfills all obligations of Tenant under the Lease (and amendments thereto) during such Step-In Term (excluding the Extra Rent due as set forth in Section 2 above). Tenant hereby consents to such occupancy of any installment the Premises by Equipment Lessor under such conditions and for such Step-In Term. During such Step-In Term, Tenant relinquishes its rights to possession of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice the Premises in favor of Equipment Lessor. Upon completion of such default is sent Step-In Term, Equipment Lessor shall vacate the Premises immediately and shall no longer have any rights to Tenant by Landlord (or Lender); or (iii) occupy the failure by Tenant to maintain insurance Premises. Notwithstanding Equipment Lessor occupying the Premises as required under this Lease; or (iv) Tenant shall default in set forth herein and fulfilling any of the other covenants, agreements or obligations of Tenant under the Lease during such Step-In Term, this Amendment shall not release Tenant from any existing or future duty, obligation or liability to Landlord , pursuant to the Lease, and such default Tenant shall continue remain fully responsible for more than thirty (30) days after written notice thereof from all obligations set forth in the Lease. Landlord (does not waive any rights or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued remedies against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible provided under the circumstances; Lease or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice Florida law and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases specifically reserves such rights and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliatesremedies .

Appears in 1 contract

Samples: Lease (U.S. Stem Cell, Inc.)

Tenant Default. (a) Any Subject to Section 10 of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: Addendum, if (i) the Tenant shall fail to pay any scheduled installment of Fixed the Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in installments thereof as aforesaid at the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged become due and payable and any additional rent as promptly as possible under herein provided although no demand shall have been made for the circumstancessame; or (vi) if the Tenant shall violate or Guarantor (A) shall make any assignment fail or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding neglect to keep and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of perform any of the covenants, conditions and agreements contained in this Lease or obligations the Data Center Lease on the part of the tenant under any Tenant to be kept and performed or if the Demised Premises shall become deserted, then, at the option of the Related Leases Landlord, the Tenant’s right of possession shall thereupon cease and determine, and the premises demised thereby are then owned Landlord shall be entitled to the possession of the Demised Premises and to reenter the same without demand of rent or demand of possession of the Demised Premises and may forthwith proceed to recover possession of the Demised Premises by process of law, including by self-help in accordance with law, any notice to quit, or of intention to reenter the same being hereby expressly waived by the entity Tenant. And, in the event of such reentry by process of law or otherwise, the Tenant nevertheless agrees to remain answerable for any and all damage, deficiency, or loss of rent which the Landlord may sustain by such reentry, and in such case, the Landlord reserves full power, which is hereby acceded to by the Tenant, to relet the Demised Premises for the benefit of the Tenant, in liquidation and discharge, in whole or in part, as the case may be, of the liability of the Tenant under the terms and provisions of this Lease. Landlord shall not unreasonably refuse to consent to an assignment or sublease proposed by Tenant in mitigation of Tenant’s liability, provided the conditions of Section 12 of the Addendum are met. And it is further provided, that is if, under the provisions hereof applicable summary process shall be served, and a compromise or settlement thereof shall be made, it shall not be constituted as a waiver of any breach of any covenant, condition or agreement herein contained and that no waiver of any breach of any covenant, condition or agreement herein contained shall operate as a waiver of the covenant, condition or agreement itself, or of any subsequent breach thereof. No provision of this Lease shall be deemed to have been waived by either party unless such waiver shall be in writing signed by such party. No payment by Tenant, or receipt by Landlord of a lesser amount than the monthly installments of Rent herein stipulated shall be deemed to be other than on account of the earliest stipulated Rent nor shall any endorsement or statement on any check or payment as Rent be deemed an accord and satisfaction, and the Landlord may accept such check or payment without prejudice to the Landlord’s right to recover the balance of such Rent or pursue any other remedy in this Lease Commencement Date or by one of its Affiliatesprovided.

Appears in 1 contract

Samples: Office Lease (Visa Inc.)

Tenant Default. (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) If Tenant shall default in the payment when due of rent to be paid by Tenant under this Lease or in the compliance with any installment provision of Additional Rent payable hereunder this Lease and such default of Tenant shall continue uncured for ten fifteen (1015) days after notice in the case of such a monetary default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days in the case of a non-monetary default after written notice thereof from the Landlord, then the Landlord, by giving written notice to Tenant, may either (i) terminate this Lease, or (ii) re-enter the Premises by summary proceedings, in either event, removing Tenant and removing all property from the Premises and re-renting the Premises at the best possible rent obtainable, and receive the rent therefrom and apply such rent to the Annual Rent and other charges due under this Lease; provided, however, Tenant shall remain liable for the amount of all rent for the entire term of this Lease less the monies actually collected from such re-renting which Landlord (or Lender) specifying such shall apply to rent and other charges due under this Lease, if any. Notwithstanding the foregoing, in the case of a non-monetary default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such non- monetary default is not reasonably capable of a nature such that it cannot be being cured within such the original thirty (30) day period, said thirty (30) day then the period for curing such default shall be extended, extended for a so long as Tenant is proceeding with reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary diligence to cure such default so long as (A) default. In no event may Landlord accelerate or otherwise require Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due pay rent prior to the nature of date such rent would otherwise be due. If a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment petition in bankruptcy shall be issued against filed by Tenant, or Tenant or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissedadjudicated a bankrupt, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any a general assignment or other similar act for the benefit of creditors, (B) shall file or if due to any proceeding based upon the insolvency of Tenant, a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either receiver of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after all of the commencement thereof; or (vii) the estate or interest property of Tenant in the Premises shall be levied upon or attached in any proceeding appointed and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty appointment, then Landlord may terminate this Lease by giving written notice to Tenant of Tenant’s obligations its intention to do so. Landlord shall use reasonable efforts to mitigate its damages upon a default by Tenant under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its AffiliatesLease.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (Aei Income & Growth Fund Xxii LTD Partnership)

Tenant Default. (a) Any The failure by Tenant to perform any of its obligations under this Lease shall constitute a "Default" hereunder by Tenant upon expiration of the following occurrences appropriate grace or acts shall constitute an “Event of Default” (herein so called) under cure period provided in this Lease: if (i) Paragraph 19(a). Tenant shall fail have a period of three (3) days from the date of written notice from Landlord within which to cure any failure to pay any scheduled installment of Fixed Monthly Base Rent or Additional Rent when due and Charges; provided, however, that Landlord shall not be required to provide such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less notice more than two (2) Installment Default Notices by Landlord, Tenant shall fail times during any two (2) year period during the Term with respect to pay any scheduled installment non-payment of Fixed Monthly Base Rent or Additional Rent when due and Charges, the third such failure non-payment constituting Default without requirement of notice. Tenant shall continue uncured for have a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after from the date of receipt of written notice thereof from Landlord (or Lender) specifying such default, within which to cure any other curable Default under this Lease; provided, however, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it cannot be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach any curable Default other than the payment of Tenant’s obligations under Section 40 of this Part II, such longer period as may Monthly Base Rent or Additional Charges that cannot reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment , the cure period shall be issued against extended for an additional period of time reasonably required to cause such cure if Tenant or any of its property whereby commences to cure within thirty (30) days from Landlord's notice and continues to prosecute diligently the Premises curing thereof, provided that such cure period shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or in no event extend beyond ninety (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (6090) days after Landlord's notice. Notwithstanding the commencement thereofforegoing, (i) if a specific time for performance or a different cure period is specified elsewhere in this Lease with respect to any specific obligation of Tenant, such specific performance or cure period shall apply with respect to a failure of such obligation in lieu of, and not in addition to, the cure period provided in this Paragraph 19(a); or (viiii) the estate or interest of Tenant cure period specified in Paragraph 23 shall apply with respect to Landlord's rights to cure Tenant's failure to perform pursuant to Paragraph 23, and (iii) the Premises shall be levied upon or attached cure rights provided in any proceeding and such estate or interest is about to be sold or transferred and such process this Paragraph 19(a) shall not be vacated extend the specific time for compliance with any required delivery, approval or discharged within sixty (60) days after such levy performance obligation under Paragraph 13 or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any 15 of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its AffiliatesLease.

Appears in 1 contract

Samples: Lease Agreement (Handspring Inc)

Tenant Default. (a) Any If Tenant defaults in the payment of the following occurrences any Rent or acts shall constitute an “Event of Default” (herein so called) other sums due and payable to Landlord under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due Lease and such failure shall continue uncured default continues for a period of ten thirty (1030) days after Landlord notifies Tenant in writing written O-11 notice of such failure (each an “Installment Default Notice”); default has been given by Landlord to Tenant, or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, if Tenant shall fail to pay violate or default in the performance of any scheduled installment covenants, agreements, stipulations or other conditions contained herein (other than the payment of Fixed Rent or Additional Rent when due rent and such failure shall continue uncured other sums) for a period of five (5) days or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof from of such violation or default has been given by Landlord to Tenant or, in the case of a default not curable within thirty (or Lender30) specifying such defaultdays, provided, that if Tenant has commenced shall fail to commence to cure a default described in subparagraph (iv) above the same within said thirty (30) days, and thereafter is proceed diligently to complete the cure thereof, then Landlord, at its option, may re-enter and repossess the Premises in good faith diligently prosecuting same to completion accordance with applicable law, and such default is declare this Lease terminated and the Lease Term ended forthwith. Except for the negligence or intentional misconduct of a nature such that it canLandlord, its agents or employees, Landlord shall not be cured within liable for damages by reason of such thirty (30) day periodre-entry and repossession. Notwithstanding such re-entry and repossession by Landlord, said thirty (30) day period shall be extended, the liability of Tenant for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach the payment of the Rent and other sums due hereunder and for the performance of Tenant’s 's other obligations hereunder for the balance of the Lease Term shall not be relinquished or extinguished; and Landlord at any time may commence such one or more actions as it may deem necessary to collect any sums due from Tenant under Section 40 this Lease. In the event of this Part IIany such re-entry and repossession, Landlord shall have the right to relet all or any portion of the Premises upon such longer period terms and conditions as may reasonably be necessary to cure reasonable; and any such default so long as (A) reletting shall not relieve Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby obligations to Landlord under this Lease, except to the extent of any net rents actually received by Landlord from such reletting after deduction of all of Landlord's reasonable expenses (including but not limited to legal expenses and brokerage commissions) incurred in accomplishing such reletting. Landlord agrees to attempt to mitigate its damages by making reasonable efforts to relet the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliatesreasonable terms.

Appears in 1 contract

Samples: Equipment Site Lease Agreement (Commercial Net Lease Realty Inc)

Tenant Default. (a) Any Each of the following occurrences or acts shall constitute an be a Event of Default” by Tenant: (herein so calleda) under this Lease: if (i) Tenant shall fail Tenant’s failure to pay any scheduled installment portion of Fixed Rent or Additional Rent when due and such due, if the failure shall continue uncured continues for a period of ten (10) 3 days after Landlord notifies written notice to Tenant (“Monetary Default”) (provided, however, that in writing lieu of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlordthe foregoing cure period, Tenant shall fail be entitled to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a cure period of five 5 days with respect to the first Monetary Defaults in any 12-month period during the Term; (5b) days Tenant’s failure (other than a Monetary Default or as provided in (iig) Tenant shall default in the payment when due of this sentence) to comply with any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (term, provision, condition or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any of the other covenants, agreements or obligations covenant of this Lease, and such default shall continue for more than thirty (30) if the failure is not cured within 15 days after written notice thereof from Landlord (or Lender) specifying such default, to Tenant provided, that however, if Tenant has commenced Tenant’s failure to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it comply cannot reasonably be cured within such thirty (30) day period15 days, said thirty (30) day period Tenant shall be extended, for a reasonable allowed additional time (not to exceed an additional ninety (90) 60 days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may is reasonably be necessary to cure such default the failure so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured begins the cure within such one hundred eighty (180) 10 days but is curable, and (B) Tenant is in good faith diligently prosecuting such pursues the cure to completion; (c) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any Guarantor becomes insolvent, makes a transfer in fraud of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenantcreditors, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any makes an assignment or other similar act for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (Bd) shall file a petition the leasehold estate is taken by process or take operation of Law; (e) in the case of any tenant located on the 1st or 2nd floor of the Project or on any other action seeking relief floor or area of the Project that is populated by the general public, Tenant does not take possession of or abandons or vacates all or any portion of the Premises; (f) Tenant is in default beyond any notice and cure period under any state other lease or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after agreement with Landlord at the commencement thereofProject; or (viig) Tenant’s failure to comply with any term, provision, condition or covenant of Article 14 (Insurance) of this Lease, including the estate or interest timely provision of certificates of insurance as required thereunder . If Landlord provides Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty with notice of Tenant’s obligations failure to comply with any specific provision of this Lease on 2 separate occasions during any 12 month period, Tenant’s subsequent violation of such provision shall, at Landlord’s option, be an incurable Default by Tenant. All notices sent under this Lease is terminated for any reasonArticle shall be in satisfaction of, or the Guarantor asserts and not in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made addition to, notice required by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its AffiliatesLaw.

Appears in 1 contract

Samples: Office Lease Agreement (Aspirity Holdings LLC)

Tenant Default. (a) Any If any one or more of the following occurrences or acts events shall constitute an “Event of Default” (herein so called) under this Leaseoccur and be continuing: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when any part thereof shall at any time be past due and (i.e., in the case of Base Rent, not paid by the 1st day of each calendar month), where such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days after receipt by Tenant of written notice thereof from Landlord (provided Landlord shall not be obligated to provide more than two (2) such notices per calendar year, and after such notices, a default shall automatically occur if Base Rent is not paid on the 1st day of the month, or any other items of Rent shall not be paid on the due date therefor, without such notice), or (ii) Tenant shall default in the payment when due of any installment of Additional Rent payable hereunder and such default shall continue for ten (10) days after notice of such default is sent fail to Tenant by Landlord (or Lender); or (iii) the failure by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling perform any of the other covenants, covenants and agreements or obligations of this Lease, and such default shall continue Lease which failure continues for more than thirty (30) days after Tenant has received written notice thereof of such failure from Landlord (or Lender) specifying Landlord, or, if such default, provided, that if Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and such default is of a nature such that it breach cannot with reasonable diligence be cured within such thirty (30) day period, said thirty (30) day period shall be extended, for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach of Tenant’s obligations under Section 40 of this Part II, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to the nature of a default, it is unable to be completely cured within thirty (30) days; , Tenant shall fail to commence a remedy of such breach within thirty (30) days and thereafter diligently pursue in good faith such remedy to completion, or (iii) Tenant shall make an assignment for the benefit of its creditors, or (iv) Tenant shall file, or there shall be filed against Tenant, a petition in bankruptcy, Tenant shall be adjudicated bankrupt or Tenant shall take the benefit of any insolvency act, or (v) any execution or attachment Tenant shall be issued against Tenant dissolved voluntarily or any of its property whereby the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenantinvoluntarily, and the same shall not be bonded, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant an attachment or Guarantor (A) shall make any assignment execution is levied upon Tenant’s property in the Premises or other similar act for in Tenant’s interest under the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action Lease that is not vacated satisfied, released or dismissed stayed within sixty (60) days after the commencement thereofdays; or (vii) a receiver or trustee is appointed for the estate or interest property of Tenant in the Premises shall be levied upon or attached Tenant, then, and in any proceeding one or more of such events. Landlord shall have the right, at its option, then or at any later time while the default is continuing, to give a written notice specifying a date on which this Lease shall terminate, and such estate or interest is about on that date, subject to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty provisions of this Section relating to the survival of Tenant’s obligations under obligations, this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made shall terminate and expire by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliateslimitation.

Appears in 1 contract

Samples: Lease Agreement (AtriCure, Inc.)

Tenant Default. (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this LeaseIt is expressly agreed that if: if (i) Tenant shall fail neglect to pay make any scheduled installment payment of Fixed Rent or Additional Rent when due or any other charges when due hereunder and such failure shall continue uncured remain in default for a period of ten fifteen (1015) days after written notice of same from Landlord notifies Tenant in writing (except that with respect to the first payment of Rent due hereunder, such failure (each an “Installment Default Notice”); or if, within a twelve (12) month time period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of be forty-five (545) days in order to permit Tenant to set up payments within Tenant's accounting system) or (ii) Tenant shall default in the payment when due of fail to perform any installment of Additional Rent payable hereunder matter or thing herein agreed to be done and such default shall continue for ten (10) days after notice of such default is sent to Tenant by Landlord (or Lender); or (iii) the failure performed by Tenant to maintain insurance as required under this Lease; or (iv) Tenant shall default in fulfilling any for a period of the other covenants, agreements or obligations of this Lease, and such default shall continue for more than thirty (30) days after written notice thereof of same from Landlord (or Lender) specifying such default, provided, that if Tenant has commenced longer period as may be reasonably necessary to cure a default described in subparagraph (iv) above within said thirty (30) days, and thereafter is in good faith diligently prosecuting same to completion and correct such default is of a nature such that it cannot be cured if within such thirty (30) day periodperiod Tenant shall commence cure of such default and thereafter diligently pursue correction thereof) beyond any applicable notice or cure period provided therein (each of (i) and (ii) hereinafter being referred to as a ("Tenant Default"); then in any such events, said thirty (30) day period shall be extended, Landlord may thereupon declare Tenant's rights of possession canceled and take possession of the Premises without prejudice to any other legal remedy it may have on account of such default to collect Rent from Tenant for a reasonable time (not to exceed an additional ninety (90) days) or, with respect to a breach the remainder of Tenant’s obligations under Section 40 the term of this Part IIAgreement. In any action by Landlord against Tenant that arises under this Lease, such longer period as may reasonably be necessary Landlord shall attempt to cure such default so long as (A) Tenant delivers mitigate damages by using commercially reasonable efforts to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, and (B) Tenant is in good faith diligently prosecuting such cure seek to completion) where, due relet the Premises. Notwithstanding anything to the nature of a defaultcontrary, it is unable in no event shall Landlord have the right to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant or any of its property whereby accelerate the Premises shall be taken or occupied or attempted to be taken or occupied by someone Rent and other than Tenant, and the same shall not be bonded, dismissedamounts payable hereunder, or discharged as promptly as possible under the circumstances; or (vi) xxx Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit of creditors, (B) shall file a petition or take any other action seeking relief under any state or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after the commencement thereof; or (vii) the estate or interest of Tenant in the Premises shall be levied upon or attached in any proceeding and such estate or interest is about to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) the Guarantor’s guaranty of Tenant’s obligations under this Lease is terminated for any reasonconsequential, punitive or the Guarantor asserts in incidental damages including, without limitation, any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to this Lease is misleading or false in material respect when made, or (x) a default beyond applicable notice and cure periods shall occur in the fulfillment of any of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is Landlord on the Lease Commencement Date or by one of its Affiliatesclaims for lost profits and/or lost business opportunity.

Appears in 1 contract

Samples: Strategic Alliance Agreement (Nationsrent Inc)

Tenant Default. Tenant covenants and agrees that (a) Any of the following occurrences or acts shall constitute an “Event of Default” (herein so called) under this Lease: if (i) Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of ten (10) days after Landlord notifies Tenant be in writing of such failure (each an “Installment Default Notice”); or if, within a twelve (12) month period following delivery of not less than two (2) Installment Default Notices by Landlord, Tenant shall fail to pay any scheduled installment of Fixed Rent or Additional Rent when due and such failure shall continue uncured for a period of five (5) days or (ii) Tenant shall default in the payment when due of rent or any installment other payment or sum required of Additional Rent payable hereunder Tenant hereunder, and such default shall continue for ten (10) days after notice of such default is shall be sent to Tenant by Landlord Landlord, and if such default shall not be cured within seven (or Lender); 7) days after receipt of such notice by Tenant, or (iiib) the failure by Tenant to maintain insurance as required under this Lease; or (iv) if Tenant shall be in default in fulfilling any of the other covenants, agreements or obligations of this Leaseby it to be performed hereunder, and notice of such default shall continue for more than thirty (30) days after written notice thereof from Landlord (or Lender) specifying such default, provided, that if be sent to Tenant has commenced to cure a default described in subparagraph (iv) above within said thirty (30) daysby Landlord, and thereafter is in good faith diligently prosecuting same to completion and if such default is of a nature such that it canshall not be cured within forty-five (45) days after receipt of such thirty notice by Tenant (30or, if the default requires more than forty-five (45) day perioddays to be cured, said thirty if Tenant does not begin to cure the default within that period after notice and then diligently prosecute the cure to completion), or (30c) day period if there shall occur the dissolution of Tenant or if Tenant shall become insolvent or make an assignment for the benefit of creditors or agree to a composition of creditors or institute any proceeding under any bankruptcy or insolvency law, or (d) if Tenant shall be extendedadjudged bankrupt, for a reasonable time or (e) if any proceeding under any bankruptcy or insolvency law is instituted against Tenant by another and such proceeding shall not to exceed an additional be vacated within ninety (90) days) or, with respect then in any of such cases, Landlord lawfully may, in addition to a and not in derogation of any remedies for breach of Tenant’s obligations under Section 40 of this Part IIcovenant, such longer period as may reasonably be necessary to cure such default so long as (A) Tenant delivers to Landlord a certificate of a qualified environmental remediation specialist that such default could not be cured within such one hundred eighty (180) days but is curable, immediately or at any time thereafter enter into and (B) Tenant is in good faith diligently prosecuting such cure to completion) where, due to upon the nature of a default, it is unable to be completely cured within thirty (30) days; or (v) any execution or attachment shall be issued against Tenant Premises or any part thereof, or mail a notice of its property whereby termination addressed to Tenant at the Premises shall be taken or occupied or attempted address herein provided for notices to be taken or occupied by someone other than Tenant, and repossess the same as of Landlord’s former estate and expel Tenant and those claiming by, through or under Tenant and remove its and their effects without prejudice to any remedies which might otherwise be used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid, this Lease shall not be bondedterminate. To the fullest extent permitted by law, dismissed, or discharged as promptly as possible under the circumstances; or (vi) Tenant or Guarantor (A) shall make any assignment or other similar act for the benefit hereby waives all rights of creditors, (B) shall file a petition or take any other action seeking relief redemption granted under any state present or federal insolvency or bankruptcy Laws, or (C) shall have an involuntary petition or any other action filed against either of them under any state or federal insolvency or bankruptcy Laws which petition or other action is not vacated or dismissed within sixty (60) days after future laws in the commencement thereof; or (vii) the estate or interest event of Tenant in being evicted or dispossessed, but Tenant shall remain liable as hereinafter provided. Landlord, without notice to Tenant, may store Tenant’s effects and those of any person claiming by, through or under Tenant at the Premises expense and risk of Tenant, and if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant. Any remaining funds shall be levied upon or attached in any proceeding and such estate or interest is about paid to be sold or transferred and such process shall not be vacated or discharged within sixty (60) days after such levy or attachment; or (viii) Tenant. In the Guarantor’s guaranty of Tenant’s obligations under event that this Lease is terminated for any reason, or the Guarantor asserts in any pleading or judicial or administrative proceeding that such guaranty is void or unenforceable or that Guarantor is not liable thereunder; or (ix) any material representation or warranty made by Tenant or Guarantor to Landlord or the Lender herein or in any document delivered pursuant to the provisions of this Lease is misleading or false in material respect when madeArticle XI, or (x) a default beyond applicable notice and cure periods Tenant shall occur in during the fulfillment of any remainder of the covenants, agreements or obligations of the tenant under any of the Related Leases and the premises demised thereby are then owned by the entity that is term hereof pay to Landlord on the last day of each calendar month the difference, if any, between the rental which would have been due for such month had there been no such termination and the amount actually received by Landlord as rent from occupants of the Premises, if any, Tenant hereby agreeing that Landlord may (i) relet the Premises or any part or parts thereof for a term or terms which may at Landlord’s option be equal to or less than or exceed the period which would have otherwise constituted the balance of the term hereof and upon such other terms and conditions as Landlord in its sole judgment considers advisable or necessary to relet the same and (ii) make such reasonable alterations and repairs to the Premises as Landlord in its sole discretion considers advisable or necessary to relet the same (not to include any part of fit-up costs or structural alterations for a new tenant), and no action of Landlord in accordance with the foregoing or failure to relet or to collect rent under such reletting shall operate or be construed to release or reduce Tenant’s liability as aforesaid. Upon any such reletting, all rentals received by Landlord from such reletting shall be applied first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of repossession and reletting costs, including, without limitation, brokerage commissions, fees for legal services and expenses of repairs for damage caused by Tenant; third, to the payment of rent due and unpaid hereunder, and the residue, if any, shall be applied in payment of future rent as the same would have become due and payable hereunder. Landlord shall use commercially reasonable efforts to mitigate damages from Tenant’s default; provided, however, so long as Landlord has exercised such efforts to mitigate its damages, Landlord shall not be liable to Tenant for, nor shall Tenant’s liability to Landlord be diminished by, Landlord’s inability to relet the Premises. Notwithstanding the foregoing provisions of this Article XI, at the election of Landlord, exercised at the time of the termination or at any time thereafter, Tenant will indemnify Landlord each month as aforesaid until the exercise of the election, and upon the exercise of the election Tenant will pay to Landlord as damages such amount as at the time of the exercise of the election represents the amount by which the rental value of the Premises for the period from the exercise of the election until the expiration of the tern shall be less than the amount of rent and other payments provided herein to be paid by Tenant to Landlord during said period. Nothing contained in this Lease Commencement Date shall, however, limit or prejudice the right of Landlord to prove for and obtain in proceedings for bankruptcy or insolvency an amount equal to the maximum allowed by one any statute or rule of its Affiliateslaw in effect at the time when, and governing the proceedings in which, the damages are to be proved, whether or not the amount be greater, equal to, or less than the amount of the loss or damage referred to above.

Appears in 1 contract

Samples: Lease (Vapotherm Inc)

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