Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"): (a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect; (b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due; (c) A general assignment by Tenant for the benefit of creditors; (d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days; (e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof; (f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity; (g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40; (h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto; (i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7; (j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice; (k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;
Appears in 1 contract
Sources: Lease Agreement (Affymetrix Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant occur ("DEFAULT"a “Default”):
(a) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of sum required to be paid hereunder within three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof of such failure from Landlord Landlord; provided, however, that any such notice given and served upon Tenant pursuant to Tenantthe requirements of Section 1161 of the California Code of Civil Procedure regarding unlawful detainer actions shall be deemed to be in lieu of, provided thatand not in addition to, if any notice that may be required hereunder; or
(b) If Tenant has exercised reasonable diligence shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant shall have failed to cure such failure and breach within thirty (30) days after written notice from Landlord where such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion and actually completes such cure within sixty completion; or
(60c) days after If Tenant assigns its assets for the giving benefit of its creditors; or
(d) If a court shall make or enter any decree or order other than under the bankruptcy laws of the aforesaid written notice;
(k) Chronic delinquency by United States adjudging Tenant in the payment of Rent, or any other periodic payments required to be paid by insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant under this Lease. "CHRONIC DELINQUENCY" and such decree or order shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof have continued for any three (3) months (consecutive or nonconsecutive) during any a period of twelve thirty (1230) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days.
Appears in 1 contract
Sources: Standard Multi Tenant Office Lease (International Stem Cell CORP)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute occur (each an event “Event of default on the part of Tenant ("DEFAULT"Default”):
(a) The vacation or abandonment of the Premises by 25.1.1 If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereundersum required to be paid hereunder when due, said which failure continuing continues uncured for a period of three (3) business days after written notice thereof; or
25.1.2 If Tenant shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant shall have failed to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period; provided, however, that where such failure could not reasonably be cured, within the thirty (30) day period, that Tenant shall not be in default if it commences such performance within the thirty (30) day period and diligently thereafter prosecutes the same is due;to completion; or
(c) A general assignment by 25.1.3 If Tenant assigns its assets for the benefit of its creditors;; or
(d) The filing 25.1.4 If a court shall make or enter any decree or order other than under the bankruptcy laws of the United States adjudging Tenant to be insolvent; or approving as properly filed a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease (Vocera Communications, Inc.)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary A default under this Lease. Lease by Tenant agrees to notice and service shall exist ------------------ if any of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;the following, occurs:
(bi) Failure If Tenant fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) sum required to be paid under this Lease within five business days after the same date such Rent or other sum is due;; or
(cii) A general assignment by If Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenantfails to perform any term, the filing by Tenant of a voluntary petition for an arrangement, the filing by covenant or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events requiring the payment of Default in subparagraphs (b)money, (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by and Tenant fails to cure such other Paragraphs), which failure continues for ten (10) breach within 20 days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten (10) 20 day period despite reasonable diligenceperiod; provided that, where such failure could not reasonably be cured within the 20 day period, Tenant shall not be in default under this subparagraph so long as Tenant thereafter if it commences such, performance within the 20 day period and diligently and continuously prosecutes the cure same to completion and actually completes such cure within sixty completion; or
(60iii) The making by Tenant of any general assignment for the benefit of creditors; the filing, by or against Tenant of a petition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed with 60 days after such filing); the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event appointment of a Chronic delinquency, in addition trustee or receiver to Landlordtake possession of all or substantially all of Tenant's other remedies for Default provided assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant with 60 days after such appointment; the attachment, execution or other judicial seizure of all or substantially all of Tenant's assets located at Landlordthe Premises or of Tenant's optioninterest in this Lease, Landlord shall have the right to require that Rent be paid by where such seizure is not discharged within 60 days thereafter; or if Tenant quarterly, in advance;is generally not paying its debts as they become due.
Appears in 1 contract
Tenant’s Default. The occurrence At the option of Landlord, a material breach of this Lease by Tenant shall exist if any one of the following events (severally, "Event of Default"; collectively, "Events of Default") shall constitute an event of default on the part of occur: (i) if Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may shall have under any statute or law now or hereafter in effect;
(b) Failure failed to pay any installment Rent, including Tenant's Percentage Share of Rent Operating Expenses, or any other monies sum required to be paid hereunder when due and payable hereunder, said such failure continuing for a period of three is not cured within five (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (105) days after written notice thereof from Landlord (which notice may be in the form of a statutory notice to Tenant, provided that, pay rent or quit); (ii) if Tenant has exercised reasonable diligence shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant shall have failed to cure such failure and such failure cannot the breach within fifteen (15) days after written notice from Landlord if the breach could reasonably be cured within such ten the fifteen (1015) day period despite reasonable diligenceperiod; provided, however, if the failure could not reasonably be cured within the fifteen (15) day period, then Tenant shall not be in default under this subparagraph so long unless it has failed to promptly commence and thereafter continue to make diligent and reasonable efforts to cure the failure as soon as practicable as reasonably determined by Landlord; (iii) if Tenant thereafter diligently shall have assigned its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or execution on, any material part of the property of Tenant or on any property essential to the conduct of Tenant's business shall have occurred, and continuously prosecutes Tenant shall have failed to obtain a return or release of the cure to completion and actually completes such cure property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) if Tenant shall have abandoned the giving Premises and failed to pay Rent; (vi) if a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for a period of thirty (30) days; (vii) if Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, federal Bankruptcy laws or any other periodic payments required applicable state law; or (viii) if Tenant shall have failed to be paid by Tenant comply with the provisions of Section 23 or 25. An Event of Default shall constitute a default under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease (Pc Tel Inc)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectTenant;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant's creditors, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs Paragraph 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(hg) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision provisions of Paragraph 2324, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(jh) Failure in the performance of any of Tenant's covenants, agreements or o obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 2425, which shall be governed by such other Paragraphssubparagraphs), which failure continues for ten thirty (1030) days after written notice thereof from Landlord to Tenant, Tenant provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten thirty (1030) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as unless Tenant fails thereafter diligently and continuously prosecutes to prosecute the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;completion; and
(ki) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In Tenant agrees that any notice given by Landlord pursuant to Paragraph 25(b), (i) or (word unreadable) above shall satisfy the event requirements for notice under California Code of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Civil Procedure Section 1161 and Landlord shall have the right not be required to require that Rent give any additional notice in order to be paid by Tenant quarterly, in advance;entitled to commence an unlawful detainer proceeding.
Appears in 1 contract
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute occur (each is called an event "Event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of the Rent or any other monies due and payable hereunder, said failure continuing as and when due, for a period of three (3) business days after Notice by Landlord; provided, however, the same is dueNotice given hereunder shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure;
(b) Tenant attempts to make or suffers to be made any transfer, assignment or subletting, except as provided in Article XIV hereof;
(c) A general assignment Any of Tenant's rights under this Lease are sold or otherwise transferred by or under court order or legal process or otherwise or if any of the actions described in Section 15.2 are taken by or against Tenant for the benefit of creditorsor any Guarantor;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition Premises are used for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) daysany purpose other than as permitted pursuant to Article V;
(e) Receivership, attachment, Tenant vacates or other judicial seizure of substantially all of Tenant's assets on abandons the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure Any representation or warranty given by Tenant under or in connection with this Lease proves to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust be materially false or other legal entitymisleading;
(g) Failure Tenant fails to timely comply with the provisions of Tenant to execute Article VI ("Hazardous Materials"), Article XIV ("Assignment and deliver to Landlord any estoppel certificateSubletting"), subordination agreementArticle XVI ("Subordination; Estoppel Certificate; Financials"), Section 21.5 ("Modifications for Mortgagees") or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;Section 21.19 ("Authority"); or
(h) An assignment Tenant fails to observe, keep, perform or sublease, or attempted assignment or sublease, of this Lease or the Premises cure within twenty (20) days after Notice by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of Landlord any of Tenant's the other terms, covenants, agreements or obligations hereunder (except conditions contained in this Lease or those failures specified as events of Default set forth in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, agreements or rules or regulations which shall be governed by Tenant is obligated to observe or perform. In the event such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure candefault reasonably could not be cured or corrected within such ten twenty (1020) day period despite reasonable diligenceperiod, but is reasonably susceptible to cure or correction, then Tenant shall not be in default hereunder if Tenant commences the cure or correction of such default within such twenty (20) day period and diligently prosecutes the same to completion after commencing such cure or correction. The Notice required by this subparagraph 15.1(h) shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure. Notices given under this subparagraph so long as Section 15.1 shall specify the alleged default and shall demand that Tenant thereafter diligently and continuously prosecutes perform the cure to completion and actually completes such cure within sixty (60) days after the giving provisions of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In pay the event of a Chronic delinquencyRent that is in arrears, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have as the right to require that Rent be paid by Tenant quarterly, in advance;case may be,
Appears in 1 contract
Tenant’s Default. The occurrence (a) If at any time subsequent to the date of this Lease any one or more of the following events (herein referred to as an “Event of Default”) shall constitute occur:
(i) Tenant shall fail to pay the Basic Rent, Expense Charges or any other Additional Rent hereunder when due and such failure shall continue for five (5) Business Days after written notice to Tenant from Landlord (except that such written notice shall only be required twice (i.e. two separate failures) in any twelve (12) month period, with any subsequent failure to pay such sums constituting an event Event of default Default unless paid within five (5) Business Days after the date due without need for an additional written notice); or
(ii) Tenant shall neglect or fail to perform or observe any other covenant herein contained on Tenant’s part to be performed or observed and Tenant shall fail to remedy the part of same within thirty (30) days after notice to Tenant ("DEFAULT"):
or such shorter period for completing a cure for such default as may be required by applicable Laws or by virtue of an Emergency) specifying such neglect or failure, or if such failure is of such a nature that Tenant cannot reasonably remedy the same within such thirty (a30) The vacation day period, Tenant shall fail to commence promptly (and in any event within such thirty (30) day period) to remedy the same and thereafter to diligently prosecute such remedy to completion with diligence and continuity (and in any event, within ninety (90) days after the notice described in this subparagraph (ii)), provided that (x) in no event shall Tenant have such additional period of time that would (A) subject Landlord or abandonment of the Premises by Tenant any Superior Lessor or any Superior Mortgagee to prosecution for a period of ten (10) consecutive days crime or any vacation other fine or abandonment of charge, or (B) subject the Premises by Tenant Property, or any part thereof, to any lien or encumbrance which would cause any insurance policy to be invalidated is not removed or otherwise lapse, in each of bonded within the foregoing cases irrespective of whether or not Tenant is then in monetary default time period required under this Lease. Tenant agrees to , and (y) such written notice and service shall only be required twice in any twelve (12) month period, with any of notice as provided for in the same subsequent performance default constituting an Event of Default unless cured within the period required under this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;without need for an additional written notice); or
(biii) Failure to pay any installment Tenant’s leasehold interest in the Premises shall be taken on execution or by other process of Rent law directed against Tenant; or
(iv) If Tenant or any other monies due and payable hereunder, said failure continuing for a period guarantor of three this Lease shall (3i) business days after the same is due;
(c) A general make an assignment by Tenant for the benefit of creditors;
, (dii) The filing of acquiesce in a voluntary petition in bankruptcy by Tenantany court in any bankruptcy, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the filing appointment of an involuntary petition by the creditors of Tenantany trustee, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, receiver or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure liquidator of Tenant to execute and deliver to Landlord or of any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, guarantor of this Lease or of all or any part of Tenant’s or such guarantor’s property, (iv) file a petition seeking an order for relief under the Title 11 of the United States Code, as now or hereafter amended or supplemented (the “Bankruptcy Code”), or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (v) fail to win the dismissal, discontinuation or vacating of any involuntary bankruptcy proceeding filed under the Bankruptcy Code, or under any other present or future federal, state or other statute or law for the same or similar relief, within ninety (90) days after such proceeding is initiated; or
(v) Any lien has been filed against the Property, or any portion thereof, as a result of work performed by or on behalf of Tenant (other than any work performed for Tenant by Landlord or its employees, agents or contractors), and Tenant fails, within 30 days after the lien is filed, either (1) to cause said lien to be removed from the Property, or (2) to furnish a bond sufficient to remove the lien or cause a title insurance endorsement to be issued with respect to such lien, which endorsement shall be satisfactory, in form and substance to Landlord, in Landlord’s sole and absolute discretion; or
(vi) Tenant’s interest in the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs)transferred without Landlord prior written consent, which failure continues for ten if so required, in violation of Article 6 hereof, and Tenant shall fail to remedy the same within fifteen (1015) days after written notice thereof from to Tenant specifying such violation; then in any such case Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default may exercise any of Landlord’s rights or remedies available under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, law or in advance;equity.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay when due any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of sum required to be paid hereunder within three (3) business days from the date of Landlord's written notice to Tenant (which notice shall constitute the notice required under California Code of Civil Procedure Section 1161) that such Rent or other sum is due, including, without limitation, any Excess Costs payable by Tenant under Exhibit C; or
(ii) If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same is due;to completion; or
(ciii) A general assignment by If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by return or release of such Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization's Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant vacates or abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;; or
(evii) ReceivershipIf, attachment, or other judicial seizure at any time that Landlord is also the owner of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure premises leased by Tenant to maintain its legal existenceunder the Building 1 Lease and/or the Building 2 Lease, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after Building 1 Lease and/or the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Building 2 Lease, at Landlord's optionas applicable, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;beyond any applicable notice and cure period.
Appears in 1 contract
Sources: Lease Agreement (Excite Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist ---------------- if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay when due any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of sum required to be paid hereunder within three (3) business days from the date of Landlord's written notice to Tenant (which notice shall constitute the notice required under California Code of Civil Procedure Section 1161) that such Rent or other sum is due; or
(ii) If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same is due;to completion; or
(ciii) A general assignment by If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by return or release of such Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization's Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant vacates or abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease (Supportsoft Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
23.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days fails to pay Rent, additional rent or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy other sum required to be invalidated or otherwise lapse, in each paid hereunder within five (5) days of receiving written notice that the foregoing cases irrespective of same is due whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may demand shall have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant been made for the benefit of creditors;same; or
(d) The filing of a voluntary petition in bankruptcy by Tenant23.1.2 If Tenant fails to perform any term, the filing by Tenant of a voluntary petition for an arrangement, the filing by covenant or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified requiring the payment of money to Landlord as events of Default set forth in subparagraphs Article 23.1.1 above and Tenant fails to cure such breach within twenty (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1020) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten twenty (1020) day period despite reasonable diligenceperiod; provided however, that were such failure could not reasonably be cured within the twenty (20) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the twenty (20) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion, such grace period not to exceed a maximum of forty (40) days in the aggregate and actually completes no such cure grace period to be permitted in the event of any one or more of the following: (i) there exists a risk of prosecution of the Landlord (ii) there exits a reasonable possibility of danger to the health or safety of the Landlord, the Tenant, Tenant's invitees or any other occupants of, or visitors to, the Building (iii) the default relates to the maintenance of insurance obligations (iv) the default relates to the assignment and subletting provisions and (v) the default relates to a violation of Article 5.2 of this Lease; the determination as to whether or not any such conditions exist to be made in Landlord's sole discretion; and
23.1.3 If Tenant or any guarantor of this Lease shall (i) make an assignment for the benefit of creditors (ii) acquiesce in a petition in any court in any bankruptcy reorganization composition extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any guarantor of this Lease and of all or any part of Tenant's or such guarantor's property (iv) file a petition seeking an order for relief under the Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief or (v) fail to win the dismissal, discontinuation or vacating of any involuntary bankruptcy proceeding within sixty ninety (6090) days after such proceeding is initiated; or
23.1.4 If Tenant shall have abandoned the giving of the aforesaid written notice;Premises and fails to pay Rent, additional rent or any other sum required to be paid hereunder; or
(k) Chronic 23.1.5 The chronic delinquency by Tenant in the payment of Rent, monthly Rent or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, Rent or any other periodic payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, chronic delinquency at Landlord's option, option Landlord shall have the additional right to require that Rent be paid by Tenant quarterly, quarter-annually in advance;.
Appears in 1 contract
Sources: Lease (Ace Comm Corp)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event a material default and breach of default on the part of Tenant ("DEFAULT"):
(this Lease by Tenant: a) Any failure by Tenant to pay any rent under this Lease, where such failure continues after applicable notice and cure periods; b) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
Tenant; (c) A failure by Tenant to observe and perform any other provision of this Lease to be observed or performed by Tenant, where such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) day period Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, ; the filing by or against Tenant of a petitionpetition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, voluntary in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or involuntaryreceiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, for reorganization, where possession is not restored to Tenant within thirty (30) days; or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, execution or other judicial seizure of substantially all of Tenant's assets on located at the PremisesPremises or of Tenant's interest in this Lease, where such attachment seizure is not discharged, stayed or other seizure remaining undismissed or undischarged for a period bonded against within thirty (30) days. The notice requirements set forth herein are in lieu of sixty (60) days after and not in addition to the levy thereof;
(f) The notices required by California Code of Civil Procedure Section 1161. Any notice given by Landlord to Tenant pursuant to California Code of Civil Procedure Section 1161 with respect to any failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of pay rent under this Lease on or before the Premises by date the rent is due shall provide Tenant contrary to the provision with a period of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for no less than ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, such rent or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;quit.
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectTenant;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant's creditors, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs Paragraph 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(hg) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 2324, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(ih) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 76 above;
(ji) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs Paragraphs of this Paragraph 2425, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, Tenant provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as unless Tenant fails thereafter diligently and continuously prosecutes to prosecute the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;completion; and
(kj) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic delinquencyDelinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;. Tenant agrees that any notice given by Landlord pursuant to Paragraph 25(i) or (j) above shall satisfy the requirements for notice under California Code of Civil Procedure
Appears in 1 contract
Sources: Lease Agreement (PLX Technology Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
24.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent Base Rent,, additional rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within five (35) business days after written notice from Landlord that such payment was due, but was not paid as of the due date (provided, however, if Landlord has delivered two (2) such notices due under this Lease to Tenant in any twelve (12) month period, or five (5) such notices over the Term of this Lease, whichever first occurs, then any subsequent failure to pay Base Rent, additional rent or any other sum required to be paid to Landlord hereunder on or before the due date for such payment shall constitute a default by Tenant without requirement of such five (5) day notice and opportunity to cure); or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money to Landlord as set forth in Section 24.1.1 above, and Tenant fails to cure such breach within fifteen (15) days after written notice from Landlord where such breach could reasonably be cured within such fifteen (15) day period; provided, however, that where such failure could not reasonably be cured within the fifteen (15) day period, Tenant shall not be considered in default if it commences such performance within the fifteen (15) day period and diligently thereafter prosecutes the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premisesto completion, such attachment or other seizure remaining undismissed or undischarged for grace period not to exceed a period maximum of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord aggregate. If any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, provisions of this Lease calls for a shorter or different grace period than that set forth above, then such other provision shall control over this provision. The foregoing notice and cure period notwithstanding, Landlord may exercise its self-help rights hereunder (i.e., Landlord’s right to perform any obligation of Tenant which Tenant has failed to perform hereunder) without any prior notice or upon such shorter notice as may be reasonable under the Premises by Tenant contrary circumstances in the event of any one or more of the following circumstances is present: (i) there exists a reasonable risk of prosecution of Landlord unless such obligation is performed sooner than the stated cure period, (ii) there exists an imminent possibility of danger to the provision health or safety of Paragraph 23the Landlord, the Tenant, Tenant’s invitees, or any other occupants of, or visitors to, the Building, unless such assignment obligation is performed sooner than the stated cure period, and/or (iii) the Tenant has failed to obtain insurance required by this Lease, or sublease is expressly conditioned upon such insurance has been canceled by the insurer without being timely replaced by Tenant, as required herein.
24.1.3 If Tenant having received Landlord's consent thereto;
or any guarantor of this Lease shall (i) Failure make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receiver:or liquidator of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance or of any guarantor of this Lease and of all or any part of Tenant's covenants, agreements ’s or obligations hereunder (except those failures specified as events of Default in subparagraphs (b)such guarantor’s property, (liv) file a petition seeking an order for relief under the Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (mv) above fail to win the dismissal, discontinuation or vacating of any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure involuntary bankruptcy proceeding within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;such proceeding is initiated.
Appears in 1 contract
Tenant’s Default. The occurrence of any one or more of the following events shall constitute an event of a default on the part of Tenant ("DEFAULT"):under this Lease by Tenant:
(a) The the vacation or abandonment of the Premises by Tenant. Abandonment is herein defined to include, but is not limited to, any absence by Tenant from the Premises for a period of ten five (105) consecutive business days or longer while in default of any vacation or abandonment other provision of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure the failure by Tenant to pay make any installment payment of Rent rent or additional rent or any other monies due and payable payment required to be made by Tenant hereunder, said failure continuing for a period of three (3) business days after the same is as and when due;
(c) A general assignment the failure by Tenant for the benefit to timely perform any of creditorsthose covenants described in Paragraphs 8.2, 15, 22.2 and 27.1 of this Lease, which Paragraphs expressly provide that such failure shall be deemed a default by Tenant under this Lease without any additional notice or cure periods;
(d) The filing the failure by Tenant to observe or perform any of a voluntary petition in bankruptcy the express or implied covenants or provisions of this Lease to be served or performed by Tenant, the filing by Tenant of a voluntary petition for an arrangementother than as specified in Subparagraphs 25.1(a), the filing by (b) or against Tenant of a petition(c) above, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged where such failure shall continue for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure, Section 1161 and provided thatfurther that if the nature of Tenant's default is such that more than ten (10) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant has exercised reasonable diligence to shall commence such cure such failure and such failure cannot be cured within such said ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant and thereafter diligently and continuously prosecutes the prosecute such cure to completion, which completion and actually completes such cure within shall occur not later than sixty (60) days after from the giving date of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written such notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to from Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;; and
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within five (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (605) days after the levy thereof;date written notice is given to Tenant of such failure; provided, however, no notice shall be required to be given to Tenant of any such failures occurring during the twelve (12) month period following the first such failure; or
(fii) The failure by If Tenant fails to maintain its legal existenceperform any term, if Tenant is a corporation, partnership, limited liability company, trust covenant or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events requiring the payment of Default in subparagraphs money, and Tenant fails to cure such breach within fifteen (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1015) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten fifteen (1015) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the fifteen (15) day period, that Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes if it commences such cure within the fifteen (15) day period and thereafter diligently prosecutes same to completion, which completion shall occur not later than sixty (60) days after from the giving date of receipt of written notice from Landlord; or
(iii) If Tenant assigns its assets for the benefit of its creditors; or
(iv) If the sequestration or attachment of or execution on any material part of Tenant’s Personal Property essential to the conduct of Tenant’s business occurs, and Tenant fails to obtain a return or release of such Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If a court makes or enters any decree or order other than under the bankruptcy laws of the aforesaid written notice;
(k) Chronic delinquency by United States adjudging Tenant in the payment of Rent, or any other periodic payments required to be paid by insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant under this Lease. "CHRONIC DELINQUENCY" and such decree or order shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof have continued for any three (3) months (consecutive or nonconsecutive) during any a period of twelve thirty (1230) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days.
Appears in 1 contract
Sources: Lease (Brooks Automation Inc)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):
(a) The vacation of the Premises for a consecutive period of sixty (60) days or more, without (i) the intention of retaking possession or occupancy, and (ii) providing for the security of the Building, or the abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any other vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three hereunder within five (35) business days after the date the same is are due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The Death or disability of Tenant, if Tenant is a natural person., or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within in the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision provisions of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to deposit the Letter of Credit with Landlord when required under Paragraph 7, and/or failure of Tenant to restore the Security Deposit Letter of Credit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphssubparagraphs), which failure continues for ten thirty (1030) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten thirty (1030) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written noticecompletion;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other periodic payments required to be paid by Tenant under this Lease within three Lease, when due (3i) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonths or (ii) for any twelve (12) months (consecutive or nonconsecutive) during the Term. In the event of a Chronic delinquencyDelinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occur:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rental or Additional Rent or any other monies due and payable hereundersum required to be paid hereunder when due; provided, said failure continuing for however, that Tenant may cure such default at any time prior to a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, termination of this Lease by Landlord by paying all Rent and other expenses or charges then due together with interest at the Premises by Tenant contrary to Interest Rate from the provision due date through the date of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;payment; or
(iii) Failure If Tenant shall have failed to perform any term, covenant or condition of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (this Lease except those failures specified as events requiring the payment of Default in subparagraphs money, and Tenant shall have failed to cure such breach within twenty (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1020) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten the twenty (1020) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the twenty (20) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the twenty (20) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion; or
(iii) If Tenant assigns its assets for the benefit of its creditors; or
(iv) If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and actually completes Tenant fails to obtain a return or release of such cure Personal Property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If a court shall make or enter any decree or order other than under the giving bankruptcy laws of the aforesaid written notice;
(k) Chronic delinquency by United States adjudging Tenant in the payment to be insolvent; or approving as properly filed a petition seeking reorganization of RentTenant, or any other periodic payments required to be paid by directly the winding up or liquidation of Tenant under this Lease. "CHRONIC DELINQUENCY" and such decree or order shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof have continued for any three (3) months (consecutive or nonconsecutive) during any a period of twelve thirty (1230) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days; or
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event a material default and breach of default on the part of Tenant ("DEFAULT"):
this Lease by Tenant: (a) Any failure by Tenant to pay the rental or to make any other payment required to be made by Tenant hereunder, where such failure continues for five (5) days after receipt by Tenant of written notice of Landlord's failure to receive the payment in question; (b) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
Tenant; (c) A failure by Tenant to observe and perform any other provision of this Lease to be observed or performed by Tenant, where such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) day period Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion; (d) The making by Tenant of any general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, ; the filing by or against Tenant of a petitionpetition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, voluntary in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days after the filing); the appointment of a trustee or involuntary, for reorganization, or the filing receiver to take possession of an involuntary petition by the creditors substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, said involuntary petition remaining undischarged for a period of where possession is not restored to Tenant within sixty (60) days;
(e) Receivership, ; or the attachment, execution or other judicial seizure of substantially all of Tenant's assets on located at the PremisesPremises or of Tenant's interest in this Lease, where such attachment or other seizure remaining undismissed or undischarged for a period of is not discharged within sixty (60) days after days. The notice requirements set forth herein are in lieu of and not in addition to the levy thereof;
(f) The failure notices required by Tenant to maintain its legal existenceCalifornia Code of Civil Procedure Section 1161, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and provided that such notices are given in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;statute.
Appears in 1 contract
Sources: Lease Agreement (Aehr Test Systems)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectTenant;
(b) Failure to pay any installment of Rent or to any other monies due and payable hereunder, said failure continuing for a period of three (3) business 10 calendar days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant's creditors, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs Paragraph 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(hg) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 2324, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(ih) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 76 above;
(ji) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs Paragraphs of this Paragraph 2425, which shall be governed by such other Paragraphs), which failure continues constitutes for ten (10) calendar days after written notice thereof from Landlord to Tenant, Tenant provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, . Tenant shall not be in default under this subparagraph so long as unless Tenant fails thereafter diligently and continuously prosecutes to prosecute the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;completion; and
(kj) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCYChronic Delinquency" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (35) business calendar days after written notice thereof for any 13 14 three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic delinquencyDelinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;. Tenant agrees that any notice given by Landlord pursuant to Paragraph 25(b), (i) or (j) above shall satisfy the requirements for notice under California Code of Civil Procedure Section 1161, and Landlord shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding.
Appears in 1 contract
Sources: Lease Agreement (MMC Networks Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
24.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent Rent, additional rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within five (35) business days after written notice from Landlord that such payment was due, but was not paid as of the due date (provided, however, if Landlord has delivered two (2) such notices to Tenant in any twelve (12) month period, or four (4) such notices over the Term of this Lease, whichever first occurs, then any subsequent failure to pay Base Rent, additional rent or any other sum required to be paid to Landlord hereunder on or before the due date for such payment shall constitute a default by Tenant without requirement of such five (5) day notice and opportunity to cure); or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money to Landlord as set forth in Section 24.1.1 above, and Tenant fails to cure such breach within fifteen (15) days after written notice from Landlord where such breach could reasonably be cured within such fifteen (15) day period; provided, however, that where such failure could not reasonably be cured within the fifteen (15) day period, Tenant shall not be considered in default if it commences such performance within the fifteen (15) day period and diligently thereafter prosecutes the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premisesto completion, such attachment or other seizure remaining undismissed or undischarged for grace period not to exceed a period maximum of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord aggregate. If any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, provisions of this Lease calls for a shorter or different grace period than that set forth above, then such other provision shall control over this provision. The foregoing notice and cure period notwithstanding, Landlord may exercise its self-help rights hereunder (i.e., Landlord's right to perform any obligation of Tenant which Tenant has failed to perform hereunder) without any prior notice or upon such shorter notice as may be reasonable under the Premises by Tenant contrary circumstances in the event of any one or more of the following circumstances is present: (i) there exists a reasonable risk of prosecution of the Landlord unless such obligation is performed sooner than the stated cure period, (ii) there exists an imminent possibility of danger to the provision health or safety of Paragraph 23the Landlord, the Tenant, Tenant's invitees, or any other occupants of, or visitors to, the Building, unless such assignment obligation is performed sooner than the stated cure period, and/or (iii) the Tenant has failed to obtain insurance required by this Lease, or sublease is expressly conditioned upon such insurance has been canceled by the insurer without being timely replaced by Tenant, as required herein.
24.1.3 If Tenant having received Landlord's consent thereto;
shall (i) Failure make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of all or any part of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b)property, (liv) file a petition seeking an order for relief under the Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (mv) above fail to win the dismissal, discontinuation or vacating of any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure involuntary bankruptcy proceeding within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;such proceeding is initiated.
Appears in 1 contract
Sources: Lease (Arbor National Holdings Inc)
Tenant’s Default. The occurrence At the option of Landlord, a default under this ---------------- Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occur:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may shall have under any statute or law now or hereafter in effect;
(b) Failure failed to pay any installment of Rent or any other monies due sum required to be paid hereunder after five (5) days' written notice that such sum is due; or
(ii) If Tenant shall have failed to perform any term, covenant or condition of this Lease, except those requiring the payment of money, and payable hereunder, said failure continuing for a period of three Tenant shall have failed to cure such breach within thirty (330) business days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default if it has commenced such cure within the thirty (30) day period and diligently thereafter prosecutes the same is due;to completion; or
(ciii) A general assignment by If Tenant shall have assigned its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business shall have occurred, and Tenant shall have failed to obtain a voluntary petition in bankruptcy by Tenant, the filing by Tenant return or release of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationsuch Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant shall have abandoned or vacated the filing Premises; or
(vi) If a court shall have made or entered any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;; or
(evii) Receivership, attachment, or other judicial seizure If Tenant shall have failed to comply with the provisions of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 28 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute occur (each is called an event "Event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of Tenant fails to pay the Premises by Tenant Rent payable hereunder, for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectfrom when due;
(b) Failure Tenant attempts to pay make or suffers to be made any installment of Rent transfer, assignment or any other monies due and payable hereundersubletting, said failure continuing for a period of three (3) business days after the same is dueexcept as provided in Article XIV hereof;
(c) A general assignment Any of Tenant's rights under this Lease are sold or otherwise transferred by or under court order or legal process or otherwise or if any of the actions described in Section 15.2 are taken by or against Tenant for the benefit of creditorsor any Guarantor;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition Premises are used for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) daysany purpose other than as permitted pursuant to Article V;
(e) Receivership, attachment, Tenant vacates or other judicial seizure of substantially all of Tenant's assets on abandons the Premises or fails to continuously and uninterruptedly conduct its business in the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure Any representation or warranty given by Tenant under or in connection with this Lease proves to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust be materially false or other legal entitymisleading;
(g) Failure Tenant fails to timely comply with the provisions of Tenant to execute Article VI ("Hazardous Materials"), Article XIV ("Assignment and deliver to Landlord any estoppel certificateSubletting"), subordination agreementArticle XVI ("Subordination; Estoppel Certificate; Financials"), Section 21.5 ("Modifications for Mortgagees") or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;Section 21.19 ("Authority"); or
(h) An assignment Tenant fails to observe, keep, perform or sublease, or attempted assignment or sublease, of this Lease or the Premises cure within fifteen (15) days after Notice by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of Landlord any of Tenant's the other terms, covenants, agreements or obligations hereunder (except conditions contained in this Lease or those failures specified as events of Default set forth in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, agreements or rules or regulations which shall be governed by Tenant is obligated to observe or perform. In the event such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure candefault reasonably could not be cured or corrected within such ten fifteen (1015) day period despite reasonable diligenceperiod, but is reasonably susceptible to cure or correction, then Tenant shall not be in default hereunder if Tenant commences the cure or correction of such default within such default within such fifteen (15) day period and diligently prosecutes the same to completion after commencing such cure or correction. Notices given under this subparagraph Section 15.1 shall specify the alleged default and shall demand that Tenant perform the provisions of this Lease or pay the Rent that is in arrears, as the case may be, within the applicable period of time, or quit the Premises. No such Notice shall be deemed a forfeiture or a termination of this Lease unless Landlord so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant elects in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;Notice.
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of a default on the part of by Tenant ("DEFAULT"):under this Lease:
(a) The vacation or abandonment Tenant's failure to pay when due any Rent required to be paid under this Lease if the failure continues for three (3) days after written notice of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy failure from Landlord to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectTenant;
(b) Failure Tenant's failure to pay provide any installment instrument or assurance as required by section 21.2 or estoppel certificate as required by section 20.1 if the failure continues for five (5) days after written notice of the failure from Landlord to Tenant;
(c) Tenant's failure to perform any other obligation under this Lease if the failure continues for thirty (30) days after written notice of the failure from Landlord to Tenant; provided, however if the default is of the type which cannot reasonably be cured within thirty (30) days, then Tenant shall have such longer time as is reasonably necessary provided Tenant commences to cure within ten (10) days after receipt of written notice from Landlord and diligently prosecutes such cure to completion.
(d) Tenant's abandonment of the Premises, without the payment of Rent or any other monies due and payable hereunder, said failure continuing including Tenant's absence from the Premises for a period of three (3) business consecutive days after the same is due(excluding Saturdays, Sundays, and California legal holidays) while in default of any provision of this Lease;
(ce) To the extent permitted by law:
(1) A general assignment by Tenant or any guarantor of the Lease for the benefit of creditors;
(d2) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationTenant, or any guarantor, of any proceeding under an insolvency or bankruptcy law, unless (in the filing case of an involuntary petition by proceeding) the creditors of Tenant, said involuntary petition remaining undischarged for a period of proceeding is dismissed within sixty (60) days;
(e3) ReceivershipThe appointment of a trustee or receiver to take possession of all or substantially all the assets of Tenant or any guarantor, attachment, unless possession is unconditionally restored to Tenant or that guarantor within thirty (30) days and the trusteeship or receivership is dissolved;
(4) Any execution or other judicial judicially authorized seizure of all or substantially all the assets of Tenant's assets Tenant located on the Premises, such attachment or other of Tenant's interest in this Lease, unless that seizure remaining undismissed or undischarged for a period of sixty is discharged within thirty (6030) days after the levy thereofdays;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;committing of waste on the Premises; or
(g) Failure of Tenant Tenant's failure to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or occupy the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) business days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof Premises are ready for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;occupancy.
Appears in 1 contract
Sources: Lease (Spectranetics Corp)
Tenant’s Default. The occurrence of any one or more of the following events shall constitute an event a default and breach of default on the part of Tenant ("DEFAULT"):this Lease by Tenant:
(a) a. The vacation or abandonment of the Premises by Tenant or the vacation of the Premises by Tenant in breach of the provisions of Paragraph 41 of this Lease.
b. The failure by Tenant to make any payment of Rent or any other payment required to be made by Tenant hereunder as and when due, where such failure shall continue for a period of five (5) days after Tenant receives written notice of such failure, which five (5) days' notice shall be in lieu of three (3) days' notice provided for in Section 1161 of the California Code of Civil Procedure.
c. Tenant's failure to observe or perform any of the covenants, conditions, or provisions of this Lease to be observed or performed by Tenant, other than as described in subparagraph b. above, where such failure shall continue for a period of ten (10) consecutive days or any vacation or abandonment after written notice thereof by Landlord to Tenant (which notice shall be in lieu of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to three days' notice and service of notice as provided for in this Lease Section 1161 of the California Code of Civil Procedure); provided, however, that if the nature of Tenant's default is such that more than ten (10) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said ten (10) day period and waives any right thereafter diligently prosecutes such cure to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter completion but in effect;
no event later than sixty (b60) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;such written notice.
(c) A d. The making by Tenant of any general assignment by Tenant or general arrangement for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing appointment of an involuntary petition by the creditors a trustee or a receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, said involuntary petition remaining undischarged for a period of sixty where possession is not restored to Tenant within thirty (6030) days;
(e) Receivership, or the attachment, execution, or other judicial seizure of substantially all of Tenant's assets on located at the PremisesPremises or of Tenant's interest in this Lease, where such attachment seizure is not discharged in thirty (30) days.
e. The filing of any voluntary petition in bankruptcy by Tenant, or other seizure remaining undismissed or the filing of any involuntary petition by Tenant's creditors, which involuntary petition remains undischarged for a period of sixty thirty (6030) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsdays. In the event that under applicable law the trustee in bankruptcy or Tenant has the right to affirm this Lease and perform the obligations of a Chronic delinquencyTenant hereunder, such trustee or Tenant shall, in addition to Landlord's other remedies for Default provided in such time period as may be permitted by the bankruptcy court having jurisdiction, cure all defaults of Tenant hereunder outstanding as of the date of the affirmance of this Lease, at Landlordand provide to Landlord such adequate assurances as may be necessary to ensure Landlord of the continued performance of Tenant's optionobligation under this Lease.
f. The occurrence of any event which constitutes a default and breach under the ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ Way Restated Lease, Landlord shall have the right to require that Rent be paid by Tenant quarterly, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ Way Restated Lease or in advance;the ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ Way Restated Lease.
Appears in 1 contract
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord’s option, constitute an event a material default by Tenant of default on the part provisions of Tenant ("DEFAULT"):this Lease:
(a) 18.1 The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any the vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure 18.2 The failure by Tenant to pay make any installment payment of Rent, Additional Rent or any other monies due and payable hereunder, said payment required hereunder where such failure continuing continues for a period of three (3) business days after the same written notice to Tenant that said payment is due or past due; provided, any such written notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Sections 1161 et seq. and all similar or successor laws;
18.3 The failure by Tenant to observe, perform or comply with any of the conditions, covenants or provisions of this Lease (except failure to make any payment of Rent and/or Additional Rent and any other payment required hereunder) and such failure is not cured within (i) thirty (30) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures other than with respect to (a) Hazardous Materials (defined in Section 27 hereof), (b) Tenant making the repairs, maintenance and replacements required under the provisions of Section 11.1 hereof, or (c) A the timely delivery by Tenant of a subordination, non-disturbance and attornment agreement (an “SNDA”), a counterpart of a fully executed Transfer document and a consent thereto (collectively, the “Transfer Documents”), an estoppel certificate and insurance certificates, (ii) ten (10) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures in any way related to Hazardous Materials or Tenant failing to timely make the repairs, maintenance or replacements required by Section 11.1, and (iii) the time period, if any, specified in the applicable sections of this Lease with respect to subordination, assignment and sublease, estoppel certificates and insurance. However, Tenant shall not be in default of its obligations hereunder if such failure (other than any failure of Tenant to timely deliver an SNDA, the Transfer Documents, an estoppel certificate or insurance certificates, for which no additional cure period shall be given to Tenant) cannot reasonably be cured within such thirty (30) or ten (10) day period, as applicable, and Tenant promptly commences, and thereafter diligently proceeds with same to completion, all actions necessary to cure such failure as soon as is reasonably possible, but in no event shall the completion of such cure be later than sixty (60) days after the date on which Landlord delivers to Tenant written notice of such failure, unless Landlord, acting reasonably and in good faith, otherwise expressly agrees in writing to a longer period of time based upon the circumstances relating to such failure as well as the nature of the failure and the nature of the actions necessary to cure such failure. Any such written notice shall be in lieu of, and not in addition to, any notice required under California Code of Civil Procedure Sections 1161, et seq. and all similar or successor laws; or
18.4 The making of a general assignment by Tenant for the benefit of creditors;
(d) The , the filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors any of Tenant’s creditors seeking the rehabilitation, said liquidation, or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors and, in the case of an involuntary petition remaining undischarged for action, the failure to remove or discharge the same within sixty (60) days of such filing, the appointment of a period receiver or other custodian to take possession of substantially all of Tenant’s assets or this leasehold which appointment is not vacated within sixty (60) days;
(e) Receivership, Tenant’s insolvency or inability to pay Tenant’s debts or failure generally to pay Tenant’s debts when due, any court entering a decree or order directing the winding up or liquidation of Tenant or of substantially all of Tenant’s assets, Tenant taking any action toward the dissolution or winding up of Tenant’s affairs, the cessation or suspension of Tenant’s use of the Premises, or the attachment, execution or other judicial seizure of substantially all of Tenant's ’s assets on the Premisesor this leasehold unless such attachment, such attachment execution or other judicial seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure vacated within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days.
Appears in 1 contract
Tenant’s Default. The occurrence of At t▇▇ ▇▇▇▇▇▇ ▇▇ Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occur:
(ai) The vacation If Tenant shall have failed to pay Rent or abandonment of the Premises by Tenant any other sum required to be paid hereunder when due; and such failure continues for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) five business days after Tenant's receipt of written n▇▇▇▇▇ from Landlord specifying Tenant's failure to pay when due, provided, however that such notice shall be in lieu of, and not in addition to, any notice required pursuant to Section 1161 of the same is due;California Code of Civil Procedure regarding unlawful detainer actions; or
(cii) A general assignment by If Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenantshall have failed to perform any term, the filing by Tenant of a voluntary petition for an arrangement, the filing by covenant or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events requiring the payment of Default in subparagraphs money, and Tenant shall have failed to cure such breach within thirty (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1020) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the thirty (3O) day period, that Tenant shall snail not be in default under this subparagraph so long as Tenant if it has commenced such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion; or
(iii) If Tenant shall have assigned its assets for the benefit of its creditors; or
(iv) If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business shall have occurred, and actually completes Tenant shall have failed to obtain a return or release of such cure Personal Property within sixty thirty (6030) days after the giving of the aforesaid written notice;thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(kv) Chronic delinquency by If Tenant shall have abandoned or vacated the Premises, provided, however, if Tenant continues to pay Rent as and when it becomes due there shall be no default hereunder and in the payment case of Rent, such abandonment or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, vacation Landlord shall have the right to require that Rent be paid by try to relet the Premises on behalf of Tenant; or
(vi) If a court shall have made or entered any decree or order other than under the bankruptcy or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant quarterly, in advance;and such decree or order shall have continued for a period of thirty (30) days; or
Appears in 1 contract
Sources: Consent to Assignment (Convera Corp)
Tenant’s Default. The occurrence of failure to perform or honor any one covenant, condition or representation made under this Lease shall constitute a “default” hereunder by Tenant upon expiration of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):
(aappropriate grace period hereinafter provided, except as expressly and specifically provided in Subparagraph 9(f) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease[Repair and Maintenance; Cure Rights]. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may shall have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after from the same is due;
date of written notice from Landlord (c) A general assignment by Tenant for which notice shall be in lieu of and not in addition to the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner notice required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement Section 1161 of the California Code of Civil Procedure) within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in any default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of RentBase Rent or Additional Charges; provided, however, that Landlord shall not be required to provide such notice more than twice during any four (4) year period during the Term with respect to non-payment of Base Rent or Additional Charges, the third such non-payment constituting default without requirement of notice. Tenant shall have a period of thirty (30) days from the date of written notice from Landlord (which notice shall be in lieu of and not in addition to the notice required by Section 1161 of the California Code of Civil Procedure) within which to cure any other periodic payments required to be paid by Tenant curable default under this Lease. "CHRONIC DELINQUENCY" ; provided, however, that with respect to any curable default other than the payment of Base Rent or Additional Charges that cannot reasonably be cured within thirty (30) days, the default shall mean failure by Tenant to pay Rent, or any other payments required not be deemed to be paid by uncured if Tenant under commences to cure within thirty (30) days from Landlord’s notice and continues to prosecute diligently the curing thereof. Notwithstanding the foregoing, if a different cure period is specified elsewhere in this Lease within three (3) business days after written notice thereof for with respect to any three (3) months (consecutive or nonconsecutive) during any specific obligation of Tenant, such specific cure period shall apply with respect to a default of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;such obligation.
Appears in 1 contract
Tenant’s Default. The occurrence A material breach of this Lease by Tenant shall exist if any one of the following events (severally, "Event of Default"; collectively, "Events of Default") shall constitute an event of default on the part of occur: (i) if Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may shall have under any statute or law now or hereafter in effect;
(b) Failure failed to pay any installment Base Rent, Tenant's Percentage Share of Rent Operating Expenses, or any other monies due and payable sum required to be paid hereunder, said failure continuing for a period of three including any interest due under Section 3, within five (35) business days after the same is due;
due hereunder; (cii) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporationshall have failed to perform any term, partnership, limited liability company, trust covenant or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events requiring the payment of Default in subparagraphs money, and Tenant shall have failed to cure the breach within thirty (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot the breach could reasonably be cured within such ten the thirty (1030) day period despite reasonable diligenceperiod; provided, however, if the failure could not reasonably be cured within the thirty (30) day period, then Tenant shall not be in default under this subparagraph so long unless it has failed to promptly commence and thereafter continue to make diligent and reasonable efforts to cure the failure as soon as practicable as reasonably determined by Landlord; (iii) if Tenant thereafter diligently shall have assigned its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or execution on, any material part of the property of Tenant upon the Premises or on any property essential to the conduct of Tenant's business upon the Premises shall have occurred, and continuously prosecutes Tenant shall have failed to obtain a return or release of the cure to completion and actually completes such cure property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) if Tenant shall have failed to continuously and uninterruptedly conduct its business in the giving Premises, or shall have abandoned or vacated the Premises; (vi) if a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for a period of thirty (30) days; (vii) if Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, federal Bankruptcy Laws or any other periodic payments required applicable state law; or (viii) if Tenant shall have failed to be paid by Tenant comply with the provisions of Sections 22 or 24 of this Lease within the time periods stated therein. An Event of Default shall constitute a default under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
24.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent, Additional Rent or any other monies due and payable hereundersum required to be paid hereunder when due; or
24.1.2 If Tenant falls to perform any term, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by covenant or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events requiring the payment of Default in subparagraphs money, and Tenant fails to cure such breach within thirty (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion; or
24.1.3 If Tenant assigns its assets for the benefit of its creditors; or
24.1.4 If the sequestration or attachment of or execution on any material part of Tenant's personal property essential to the conduct of Tenant's business occurs, and actually completes Tenant fails to obtain a return or release of such cure personal property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
24.1.5 If Tenant fails to continuously or uninterruptedly conduct its business in the giving Premises, or shall have abandoned or vacated the Premises; or
24.1.6 If a court makes or enters any decree or order other than under the bankruptcy laws of the aforesaid written notice;United States adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and such decree or order shall have continued for a period of thirty (30) days; or
(k) Chronic 24.1.7 The chronic delinquency by Tenant in the payment of monthly Rent, or any other periodic payments required to be paid by Tenant under this Lease, shall constitute a default. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other periodic payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three two (32) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the additional right to require that monthly Rent be paid by Tenant quarterlyquarter-annually, in advance;.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Base Rent or any other monies sum required to be paid hereunder when due and payable hereunder, fails to cure said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days from receipt of verbal or written notice from Landlord or is late three (3) or more times during any consecutive twelve (12) month period; or
(ii) If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite reasonable diligenceperiod, provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant thereafter if it commences such performance within the thirty (30) day period and diligently and continuously thereafter prosecutes the cure same to completion and actually completes such cure within sixty (60but in no event longer than one hundred twenty (120) days after the giving subject to Force Majeure or unless out of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment reasonable control of RentTenant), or if Tenant shall fail to perform or observe any other periodic payments of the provisions required to be paid performed or observed by Tenant under this Lease. "CHRONIC DELINQUENCY" any other agreement relating to the Premises, subject to the above cure periods; or
(iii) If, to the extent permitted by applicable law, Tenant shall mean failure by file or there shall be filed against Tenant, in any court pursuant to any statute either of the United States or any state, a petition or declaration of insolvency or for the reorganization of or for the appointment of a receiver, trustee or liquidator for all or any portion of the assets of Tenant, and, within thirty (30) days thereafter, Tenant fails to pay Rentsecure a discharge thereof, or any other payments required to be paid by if the Tenant under this Lease within three (3) business days after written notice thereof makes an assignment for any three (3) months (consecutive the benefit of creditors, or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by if Tenant quarterly, in advance;is insolvent.
Appears in 1 contract
Sources: Assignment and Assumption of Lease (Microage Inc /De/)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event a material default and breach of default on the part of Tenant ("DEFAULT"):
(this Lease by Tenant: a) The vacation or abandonment of the Premises Any failure by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three rent under this Lease within five (35) business days after notice from Landlord that such rent is delinquent; b) A failure by Tenant to observe and perform any other provision of this Lease to be observed or performed by Tenant, where such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same is due;
cannot reasonably be cured within such thirty (30) day period Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion; c) A The making by Tenant of any general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, ; the filing by or against Tenant of a petitionpetition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, voluntary in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or involuntaryreceiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, for reorganization, where possession is not restored to Tenant within thirty (30) days; or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, execution or other judicial seizure of substantially all of Tenant's assets on located at the PremisesPremises or of Tenant's interest in this Lease, where such attachment or other seizure remaining undismissed or undischarged for a period is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of sixty (60) days after and not in addition to the levy thereof;
(f) The notices required by California Code of Civil Procedure Section 1161. Any notice given by Landlord to Tenant pursuant to California Civil Code 1161 with respect to any failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of pay rent under this Lease on or before the Premises by date the rent is due shall provide Tenant contrary to the provision with a period of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for no less than ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, such rent or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;quit.
Appears in 1 contract
Sources: Lease Agreement (Therma Wave Inc)
Tenant’s Default. (a) The occurrence of any one or more of the following events shall constitute an event of default on the part (herein referred to as an "Event of Default") of Tenant ("DEFAULT"):under this Lease:
(ai) The vacation if Tenant fails to pay Base Rent or abandonment of the Premises by Tenant any Additional Rent hereunder as and when such rent becomes due and such failure shall continue for a period of more than ten (10) consecutive days after receipt of written notice from Landlord of such failure; provided, however, that any such notice will be in lieu of, and not in addition to, any notice required under applicable law (including, without limitation, the provisions of California Code of Civil Procedure Section 1161 regarding unlawful detainer actions or any vacation successor statute or abandonment law of a similar nature);
(ii) Tenant fails to take possession of the Demised Premises on the Lease Commencement Date (or within a reasonable time thereafter);
(iii) if Tenant permits to be done anything (except Landlord's Work and any other work at the Demised Premises which Landlord is required to perform pursuant to this Lease) which creates a lien upon the Demised Premises and fails either (A) to discharge, (B) bond such lien, or (C) post security with Landlord reasonably acceptable to Landlord, within thirty (30) days after receipt by Tenant which would cause any of written notice thereof from Landlord;
(iv) if Tenant violates the provisions of Section 30 of this Lease by attempting to make an unpermitted assignment or sublease;
(v) if Tenant fails to maintain in force all policies of insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in required by this Lease and waives any right to any other or further such failure shall continue for more than ten (10) days after Landlord gives Tenant notice or service of notice which Tenant may have under any statute or law now or hereafter in effectsuch failure;
(bvi) Failure to pay if any installment of Rent petition is filed by or against Tenant or any other monies due and payable hereunderguarantor of this Lease under any present or future section or chapter of the Bankruptcy Code, said failure continuing or under any similar law or statute of the United States or any state thereof (which, in the case of an involuntary proceeding, is not permanently discharged, dismissed, stayed, or vacated, as the case may be, within ninety (90) days of commencement), or if any order for a period relief shall be entered against Tenant or any guarantor of three (3) business days after the same is duethis Lease in any such proceedings;
(cvii) A general if Tenant becomes insolvent or makes a transfer in fraud of creditors or makes an assignment by Tenant for the benefit of creditors;
(dviii) The filing of if a voluntary petition in bankruptcy by Tenantreceiver, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationcustodian, or trustee is appointed for the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged Demised Premises or for a period of sixty (60) days;
(e) Receivership, attachment, all or other judicial seizure of substantially all of Tenant's the assets on of Tenant or of any guarantor of this Lease, which appointment is not vacated within ninety (90) days following the Premises, date of such attachment appointment; or
(ix) if Tenant fails to perform or observe any other seizure remaining undismissed or undischarged term of this Lease and such failure shall continue for a period of sixty more than thirty (6030) days after the levy thereof;
(f) The failure by Landlord gives Tenant to maintain its legal existencenotice of such failure, or, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured corrected within such ten thirty (1030) day period, if Tenant does not commence to correct such default within said thirty (30) day period despite and thereafter diligently prosecute the correction of same to completion within a reasonable diligencetime and in any event prior to the time a failure to complete such correction could cause Landlord to be subject to criminal prosecution for violation of any law, rule, ordinance or regulation or causes, or would result in a default under any mortgage or other Permitted Encumbrance.
(b) Upon the occurrence of any one or more Events of Default, Landlord, without any demand or notice whatsoever (except as expressly required in this Section 22) shall have the immediate right to pursue the following remedies (all of which shall be cumulative and in addition to any other remedies available to Landlord at law or in equity):
(i) Landlord may terminate this Lease by giving Tenant notice of termination, in which event this Lease shall expire and terminate on the date specified in such notice of termination with the same force and effect as though the date so specified were the date herein originally fixed as the termination date of the Term, and all rights of Tenant under this Lease and in and to the Demised Premises shall expire and terminate and Tenant shall not be in default remain liable for all obligations under this subparagraph Lease arising up to the date of such termination, and Tenant shall surrender the Demised Premises to Landlord on the date specified in such notice, and if Tenant fails to so long as surrender Landlord shall have the right, upon prior notice and only to the extent permitted by law, to enter upon and take possession of the Demised Premises and to expel or remove Tenant thereafter diligently and continuously prosecutes its effects without being liable for prosecution or any claim for damages therefor.
(ii) In addition to any other remedies available to Landlord at law or in equity under applicable law (including, without limitation, the cure remedies of California Civil Code Section 1951.4 and any successor statute or similar law), Landlord will have the immediate right and option to completion terminate this Lease and actually completes all rights of Tenant hereunder. If Landlord elects to terminate this Lease then, to the extent permitted under applicable law, Landlord may recover from Tenant (a) the worth at the time of award of any unpaid rent which had been earned at the time of such cure within sixty termination; plus (60b) days the worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rent loss that Tenant proves could have been reasonably avoided; plus (c) the worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the giving time of award exceeds the amount of such rent loss that Tenant proves could be reasonably avoided; plus (d) any other amount necessary to compensate Landlord, without duplication, for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease including, but not limited to, to the extent permitted under applicable law, attorneys' fees and costs; brokers' commissions; the costs of refurbishment, alterations, renovation and repair of the aforesaid written notice;Demised Premises, and removal (including the repair of any damage caused by such removal) and storage (or disposal) of Tenant's personal property, equipment, fixtures, alterations and any other items which Tenant is required under this Lease to remove but does not remove, as well as the unamortized value of the cost of any Change Orders amortized in accordance with Section 18(a) or other costs or economic concessions provided, paid, granted or incurred by Landlord pursuant to this Lease. The unamortized value of such concessions shall be determined by taking the total value of such concessions and multiplying such value by a fraction, the numerator of which is the number of months of the Term not yet elapsed as of the date on which the Lease is terminated, and the denominator of which is the total number of months of the Term. As used in Subsection 22(b)(ii)(a) and (b) above, the "worth at the time of award" is computed by allowing interest at the Interest Rate (as defined in Section 31). As used in Subsection 22(b)(ii)(c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
(kiii) Chronic delinquency If permitted by applicable law, Landlord will also have the right, with or without terminating this Lease, to re-enter the Demised Premises and remove all persons and property from the Demised Premises; such property may be removed and stored in a public warehouse or elsewhere. No re-entry or taking possession of the Demised Premises by Landlord pursuant to this Subsection 22(b)(iii) will be construed as an election to terminate this Lease unless a written notice of such intention is given to Tenant or unless the termination thereof is decreed by a court of competent jurisdiction.
(iv) Landlord has the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in effect after lessee's breach and abandonment and recover rent as it becomes due, if lessee has right to sublet or assign, subject only to reasonable limitations). Accordingly, upon the occurrence of an Event of Default and abandonment of the Demised Premises by Tenant or in the event that Landlord elects to re-enter the Demised Premises or takes possession of the Demised Premises pursuant to legal proceeding or pursuant to any notice provided by law, then if Landlord does not elect to terminate this Lease, Landlord may from time to time, without terminating this Lease, either recover all rent as it becomes due or relet the Demised Premises or any part thereof on terms and conditions as Landlord in its sole and absolute discretion may deem advisable with the right to make alterations and repairs to the Demised Premises in connection with such reletting. If Landlord elects to relet the Demised Premises, then rents received by Landlord from such reletting will be applied; first, to the payment of Rentany indebtedness other than rent due hereunder from Tenant to Landlord; second, or to the payment of any other periodic payments required cost of such reletting; third, to the payment of the reasonable cost of any alterations and repairs to the Demised Premises incurred in connection with such reletting; fourth, to the payment of rent due and unpaid hereunder and the residue, if any, will be paid held by Landlord and applied to payment of future rent as the same may become due and payable hereunder. Should that portion of such rents received from such reletting during any month, which is applied to the payment of rent hereunder, be less than the rent payable during that month by Tenant under this Leasehereunder, then Tenant agrees to pay such deficiency to Landlord immediately upon demand therefor by Landlord. "CHRONIC DELINQUENCY" shall mean Such deficiency will be calculated and paid monthly.
(v) If an Event of Default occurs as a result of a failure by Tenant to pay Rentany sum of money owed to any party other than Landlord, for which it is liable under this Lease, or as a result of a failure by Tenant to perform any other payments required act on its part to be performed hereunder, Landlord may, without waiving or releasing Tenant from its obligations, but shall not be obligated to, make any such payment or perform any such other act to be made or performed by Tenant. Tenant agrees to reimburse Landlord upon demand for all reasonable sums so paid by Tenant under Landlord and all necessary incidental costs, together with interest thereon at the Interest Rate, from the date of such payment by Landlord until reimbursed by Tenant.
(vi) Pursue such other remedies as are available at law or in equity.
(c) If this Lease within three shall terminate as a result of or while there exists a default hereunder, any funds of Tenant held by Landlord may be applied by Landlord to any damages payable by Tenant (3whether provided for herein or by law) business days after as a result of such termination or default.
(d) Neither the commencement of any action or proceeding, nor the settlement thereof, nor entry of judgment thereon shall bar Landlord from bringing subsequent actions or proceedings from time to time, nor shall the failure to include in any action or proceeding any sum or sums then due be a bar to the maintenance of any subsequent actions or proceedings for the recovery of such sum or sums so omitted.
(e) If any statute or rule of law shall limit any of Landlord's remedies as hereinabove set forth, Landlord shall nonetheless be entitled to any and all other remedies hereinabove set forth.
(f) No agreement to accept a surrender of the Demised Premises and no act or omission by Landlord or Landlord's agents during the Term shall constitute an acceptance or surrender of the Demised Premises unless made in writing and signed by Landlord. No re-entry or taking possession of the Demised Premises by Landlord shall constitute an election by Landlord to terminate this Lease unless a written notice of such intention is given to Tenant.
(g) No provision of this Lease shall be deemed to have been waived by either party unless such waiver is in writing and signed by the party making such waiver. Landlord's acceptance of Base Rent or Additional Rent following an Event of Default hereunder shall not be construed as a waiver of such Event of Default (except as to acceptance by Landlord of payment in full of all Base Rent and Additional Rent past due at the time of such acceptance). No custom or practice which may grow up between the parties in connection with the terms of this Lease shall be construed to waive or lessen either party's right to insist upon strict performance of the terms of this Lease, without a written notice thereof for any three to the other party.
(3h) months (consecutive The rights granted to Landlord in this Section 22 shall be cumulative of every other right or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default remedy provided in this Lease or which Landlord may otherwise have at law or in equity or by statute, and the exercise of one or more rights or remedies shall not prejudice or impair the concurrent or subsequent exercise of other rights or remedies or constitute a forfeiture or waiver of Base Rent, Additional Rent or damages accruing to Landlord by reason of any Event of Default. If an Event of Default shall occur and be continuing, Tenant shall pay to Landlord, on demand, all reasonable expenses incurred by Landlord as a result thereof, including reasonable attorneys' fees, court costs and expenses. Other than in connection with a claim arising from the negligence or intentional misconduct of Landlord, its employees, agents, contractors or representatives, if Landlord shall be made a party to any litigation commenced against Tenant as a result of this Lease, at Landlord's optionownership of the Demised Premises or the relationship of Landlord and Tenant arising by virtue of this Lease, Tenant shall pay all reasonable costs and reasonable attorneys' fees incurred by Landlord shall have in connection with such litigation. Notwithstanding anything to the right to require that Rent be paid by Tenant quarterlycontrary contained herein, in advance;the event any third party prevails in any action to which Landlord is made a party and it is ultimately determined that there was no negligence or intentional misconduct on the part of Landlord, its employees, agents or contractors, Tenant shall pay all reasonable costs and reasonable attorneys' fees incurred by Landlord in connection with such litigation.
(i) Nothing contained in this Lease will relieve Landlord of any obligation which Landlord may have under the laws of the state of California to mitigate its damages resulting from an Event of Default.
Appears in 1 contract
Sources: Lease Agreement (I Flow Corp /Ca/)
Tenant’s Default. The occurrence of any one or more of the following events shall constitute an event a “Default” under this Lease by Tenant:
a. the failure by Tenant to make any payment of default on Rent, Additional Rent or any other payment required to be made by Tenant hereunder, where such failure continues for five (5) business days after written notice thereof from Landlord that such payment was not received when due; provided that if Landlord provides two (2) or more notices of late payment within any twelve (12) month period, then the part third failure of Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or to make any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment payment of Rent or any other monies payment required to be made by Tenant hereunder when due and payable hereunderin the twelve (12) month period following the second (2nd) such notice shall be an automatic Default without notice from Landlord;
b. the failure by Tenant to observe or perform any of the express or implied covenants or provisions of this Lease to be observed or performed by Tenant, said other than as specified in Sections 22.1(a) or (b) above, where such failure continuing shall continue for a period of three thirty (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord to Tenant; provided, provided thathowever, that if Tenant has exercised reasonable diligence to cure the nature of Tenant’s default is such failure and such failure cannot that it may be cured within such ten but more than thirty (1030) day period despite reasonable diligencedays are reasonably required for its cure, then Tenant shall not be deemed to be in default under this subparagraph so long as if Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes shall commence such cure within sixty said thirty (6030) days after the giving of the aforesaid written notice;day period and thereafter diligently prosecute such cure to completion; or
c. a Bankruptcy Event (kas defined below) Chronic delinquency involving Tenant shall occur, and in connection therewith Tenant is liquidated or dissolved or Tenant is proceeding towards its liquidation or dissolution. Any notice sent by Landlord to Tenant pursuant to this Section 22.1 shall be in the payment of Rentlieu of, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, and not in addition to Landlord's other remedies for Default provided in this Leaseto, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;any notice required under any applicable Law.
Appears in 1 contract
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute occur (each is called an event "Event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of Tenant fails to pay the Premises by Tenant Monthly Rent, as and when due, for a period of five (5) days after written notice by Landlord, or Tenant fails to pay any item of Additional Rent within the time specified in the invoice of such Additional Rent (or if no time is specified, within ten (10) consecutive days or after receipt thereof); provided, however, the notices given pursuant to this Section 15.1(a) shall be in lieu of, and not in addition to, any vacation or abandonment notice required under Section 1161, et seq., of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each California Code of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectCivil Procedure;
(b) Failure Tenant attempts to pay make or suffers to be made any installment of Rent transfer, assignment or any other monies due and payable hereundersubletting, said failure continuing for a period of three (3) business days after the same is dueexcept as provided in Article 14;
(c) A general assignment Any of Tenant's rights under this Lease are sold or otherwise transferred by or under court order or legal process or otherwise or if any of the actions described in Section 15.2 are taken by or against Tenant for the benefit of creditorsor any Guarantor;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition Premises are used for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) daysany purposes other than as permitted pursuant to Article 5;
(e) Receivership, attachment, Tenant vacates or other judicial seizure of substantially all of Tenant's assets on abandons the Premises or fails to continuously and uninterruptedly conduct its business in the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure Any representation or warranty given by Tenant under or in connection with this Lease proves to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust be materially false or other legal entitymisleading;
(g) Failure Tenant fails to timely comply with the provisions of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
Article 6 (h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b"Hazardous Materials"), Article 14 (l"Assignment and Subletting"), Article 16 ("Subordination; Estoppel Certificate"}, Section 21.6 ("Modifications for Mortgagees"), Section 21.9 ("Financial Information") or Section 21.22 (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs"Authority"), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;; or
Appears in 1 contract
Sources: Lease (Broadcom Corp)
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord's option, constitute an event a material default by Tenant of default on the part provisions of Tenant ("DEFAULT"):this Lease:
(a) 18.1 The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any the vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure 18.2 The failure by Tenant to pay make any installment payment of Rent, Additional Rent or any other monies due and payable payment required hereunder, said failure continuing for a period of three or to fulfill any obligation under this Lease which endangers or threatens imminent damage or injury to life or property, within five (35) business days after the same of receipt of written notice that such amount is duepast due or of such failure to fulfill any obligation;
18.3 The failure by Tenant to observe, perform or comply with any of the conditions, covenants or provisions of this Lease (except failure to make any payment of Rent and/or Additional Rent) and such failure is not cured within (i) thirty (30) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures other than with respect to (a) Hazardous Materials (defined in Section 27 hereof), (b) Tenant making the repairs, maintenance and replacements required under the provisions of Section 11.1 hereof, which endangers or threatens imminent damage or injury to life or property, or (c) A the timely delivery by Tenant of a subordination, non-disturbance and attornment agreement (an "SNDA"), a counterpart of a fully executed Transfer document and a consent thereto (collectively, the "Transfer Documents"), an estoppel certificate and insurance certificates, (ii) ten (10) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures in any way related to Hazardous Materials or Tenant failing to timely make the repairs, maintenance or replacements required by Section 11.1 which endangers or threatens imminent damage or injury to life or property, and (iii) the time period, if any, specified in the applicable sections of this Lease with respect to subordination, assignment and sublease, estoppel certificates and insurance. However, Tenant shall not be in default of its obligations hereunder if such failure (other than any failure of Tenant to timely and properly make the repairs, maintenance, or replacements required by Section 11.1 which endangers or threatens imminent damage or injury to life or property, or timely deliver an SNDA, the Transfer Documents, an estoppel certificate or insurance certificates, for which no additional cure period shall be given to Tenant) cannot reasonably be cured within such thirty (30) or ten (10) day period, as applicable, and Tenant promptly commences, and thereafter diligently proceeds with same to completion, all actions necessary to cure such failure as soon as is reasonably possible, but in no event shall the completion of such cure be later than ninety (90) days after the date on which Landlord delivers to Tenant written notice of such failure, unless Landlord, acting reasonably and in good faith, otherwise expressly agrees in writing to a longer period of time based upon the circumstances relating to such failure as well as the nature of the failure and the nature of the actions necessary to cure such failure; or
18.4 The making of a general assignment by Tenant for the benefit of creditors;
(d) The , the filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors any of Tenant's creditors seeking the rehabilitation, said liquidation, or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors and, in the case of an involuntary petition remaining undischarged for a period of action, the failure to remove or discharge the same within sixty (60) days;
(e) Receivershipdays of such filing, the appointment of a receiver or other custodian to take possession of substantially all of Tenant's assets or this leasehold, Tenant's insolvency or inability to pay Tenant's debts or failure generally to pay Tenant's debts when due, any court entering a decree or order directing the winding up or liquidation of Tenant or of substantially all of Tenant's assets, Tenant taking any action toward the dissolution or winding up of Tenant's affairs, the cessation or suspension of Tenant's use of the Premises, or the attachment, execution or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;leasehold.
Appears in 1 contract
Sources: Lease Agreement (New Focus Inc)
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute occur (each is called an event "Event of default on the part of Tenant (Default"DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect);
(bi) Failure Tenant fails to pay any installment of the Rent or any other monies due and payable hereunder, said failure continuing as and when due, for a period of three (3) business days after Notice by Landlord; provided, however, the same is dueNotice given hereunder shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure;
(cii) A general assignment Any of Tenant's rights under this Lease are sold or otherwise transferred by Tenant for or under court order or legal process or otherwise or if any of the benefit of creditors;
(d) The filing of a voluntary petition actions described in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing Section 15.2 are taken by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) daysany Guarantor;
(eiii) ReceivershipTenant vacates or abandons the Premises while in default in the payment of Rent;
(iv) Tenant fails to timely comply with the provisions of Article VI ("Hazardous Materials"), attachmentArticle XIV ("Assignment and Subletting"), Article XVI ("Subordination; Estoppel Certificate; Financials"), Section 21.5 ("Modifications for Mortgagees") or other judicial seizure of substantially all of Tenant's assets on the PremisesSection 21.19 (Authority"); or
(v) Tenant fails to observe, such attachment keep, perform or other seizure remaining undismissed or undischarged for a period of sixty cure within thirty (6030) days after the levy thereof;
(f) The failure Notice by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificateof the other terms, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except conditions contained in this Lease or those failures specified as events of Default set forth in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, agreements or rules or regulations which shall be governed by Tenant is obligated to observe or perform. In the event such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure candefault reasonably could not be cured or corrected within such ten (10) thirty-day period despite reasonable diligenceperiod, but is reasonably susceptible to cure or correction, then Tenant shall not be in default hereunder if Tenant commences the cure or correction of such default within such thirty-day period and diligently prosecutes the same to completion after commencing such cure or correction. The Notice required by this clause (viii) shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure. Notices given under this subparagraph Section 15.1 shall specify the alleged default and shall demand that Tenant perform the provisions of this Lease or pay the Rent that is in arrears, as the case may be, within the applicable period of time, or quit the Premises. No such Notice shall be deemed a forfeiture or a termination of this Lease unless Landlord so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant elects in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;Notice.
Appears in 1 contract
Sources: Lease Agreement (Surebeam Corp)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten fails to pay, within five (105) consecutive days or after written notice from Landlord, any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due sum required to be paid hereunder when due, including, without limitation, any Tenant Improvement costs payable by Tenant under EXHIBIT B; or
(ii) If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and payable hereunder, said failure continuing for a period of three Tenant fails to cure such breach within thirty (330) business days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same is due;to completion; or
(ciii) A general assignment by If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant’s Personal Property essential to the conduct of Tenant’s business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by return or release of such Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization’s Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Sublease (BigBand Networks, Inc.)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation If Tenant fails to pay any Rent or abandonment of the Premises any other sum required to be paid hereunder, including, without limitation, any Tenant Improvement costs or Capital Improvement costs payable by Tenant for a period of under EXIIBIT B and paragraph 10.A., respectively, within ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same date such Rent or other sum is due;; or
(cii) A general assignment by If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same to completion; or
(iii) If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by Tenant, the filing by Tenant return or release of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationsuch Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease (Ampex Corp /De/)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten fails to pay, within five (105) consecutive days or after written notice from Landlord, any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due sum required to be paid hereunder when due, including, without limitation, any Tenant Improvement costs payable by Tenant under EXHIBIT B; or
(ii) If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and payable hereunder, said failure continuing for a period of three Tenant fails to cure such breach within thirty (330) business days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same is due;to completion; or
(ciii) A general assignment by If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by return or release of such Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization's Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease Agreement (Broadvision Inc)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of a default on the part of by Tenant ("DEFAULT"):under this Lease:
(a) The vacation or abandonment Tenant's failure to pay when due any Rent required to be paid under this Lease if the failure continues for three (3) days after written notice of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy failure from Landlord to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectTenant;
(b) Failure Tenant's failure to pay provide any installment of Rent instrument or any other monies due and payable hereunder, said assurance as required by section 21.2 or estoppel certificate as required by section 20.1 if the failure continuing continues for a period of three five (35) business days after written notice of the same is duefailure from Landlord to Tenant;
(c) Tenant's failure to perform any other obligation under this Lease if the failure continues for thirty days after written notice of the failure from Landlord to Tenant; or such longer reasonable period necessary to cure such default if Tenant promptly commences and diligently pursues cure after notice from Landlord not to exceed an additional sixty days if the default materially interferes with Landlord's ability to use, finance or transfer the Real Property.
(d) Tenant's abandonment of the Premises, including Tenant's absence from the Premises for seven consecutive days (excluding Saturdays, Sundays, and California legal holidays) while in default of any material provision of this Lease, including the obligation to pay Rent;
(e) To the extent permitted by law:
(1) A general assignment by Tenant or any guarantor of the Lease for the benefit of creditors;
(d2) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationTenant, or any guarantor, of any proceeding under an insolvency or bankruptcy law, unless (in the filing case of an involuntary petition by proceeding) the creditors of Tenant, said involuntary petition remaining undischarged for a period of proceeding is dismissed within sixty (60) days;
(e3) ReceivershipThe appointment of a trustee or receiver to take possession of all or substantially all the assets of Tenant or any guarantor, attachment, unless possession is unconditionally restored to Tenant or that guarantor within thirty (30) days and the trusteeship or receivership is dissolved;
(4) Any execution or other judicial judicially authorized seizure of all or substantially all the assets of Tenant's assets Tenant located on the Premises, such attachment or other of Tenant's interest in this Lease, unless that seizure remaining undismissed or undischarged for a period of sixty is discharged within thirty (6030) days after the levy thereofdays;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;committing of waste on the Premises; or
(g) Failure of Tenant Tenant's failure to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or occupy the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) business days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof Premises are ready for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;occupancy.
Appears in 1 contract
Sources: Office Lease (Quokka Sports Inc)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"“Default”):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten thirty (1030) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectdays;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three ten (310) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant’s creditors, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's ’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs Paragraph 29 or 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;39.
(hg) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's ’s consent thereto;
(ih) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 76 above;
(ji) Failure in the performance of any of Tenant's ’s covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) other Paragraphs or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, Tenant provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as unless Tenant fails thereafter diligently and continuously prosecutes to prosecute the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;completion; and
(kj) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" “Chronic delinquency” shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (35) business calendar days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of consecutive twelve (12) monthsmonth period. In the event of a Chronic delinquencyDelinquency, in addition to Landlord's ’s other remedies for Default provided in this Lease, at Landlord's ’s option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;. Tenant agrees that any notice given by Landlord pursuant to Paragraph 24(b), (i) or (j) above shall satisfy the requirements for notice under California Code of Civil Procedure Section 1161, and Landlord shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding.
Appears in 1 contract
Sources: Lease Agreement (Silicon Image Inc)
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord’s option, constitute an event a material default by Tenant of default on the part provisions of Tenant ("DEFAULT"):this Lease:
(a) 18.1 The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any the vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse;
18.2 The failure by Tenant to make any payment of Rent, in each Additional Rent or any other payment required hereunder within three (3) business days after Landlord’s delivery of written notice to Tenant that said payment is past due. Tenant agrees that any such written notice delivered by Landlord shall, to the foregoing cases irrespective of whether or not Tenant is then in monetary default fullest extent permitted by law, serve as the statutorily required notice under this Leaseapplicable law. In addition to the foregoing, Tenant agrees to notice and service of notice as provided for in this Lease.
18.3 The failure by Tenant to observe, perform or comply with any of the conditions, covenants or provisions of this Lease (except failure to make any payment of Rent and/or Additional Rent and waives any right to any other or further payment required hereunder) and such failure is not cured within (i) thirty (30) days of the date on which Landlord delivers written notice or service of notice which such failure to Tenant may have under any statute or law now or hereafter for all failures other than with respect to (a) Hazardous Materials (defined in effect;
Section 27 hereof), (b) Failure Tenant making the repairs, maintenance and replacements required under the provisions of Section 11.1 hereof, or (c) the timely delivery by Tenant of a subordination, non-disturbance and attornment agreement (an “SNDA”), a counterpart of a fully executed Transfer document and a consent thereto (collectively, the “Transfer Documents”), an estoppel certificate and insurance certificates, (ii) ten (10) days of the date on which Landlord delivers written notice of such failure to pay Tenant for all failures in any installment way related to Hazardous Materials or Tenant failing to timely make the repairs, maintenance or replacements required by Section 11.1, and (iii) the time period, if any, specified in the applicable sections of Rent this Lease with respect to subordination, assignment and sublease, estoppel certificates and insurance. However, Tenant shall not be in default of its obligations hereunder if such failure (other than any failure of Tenant to timely and properly make the repairs, maintenance, or any other monies due replacements required by Section 11.1, or timely deliver an SNDA, the Transfer Documents, an estoppel certificate or insurance certificates, for which no additional cure period shall be given to Tenant) cannot reasonably be cured within such thirty (30) or ten (10) day period, as applicable, and payable hereunderTenant promptly commences, said and thereafter diligently proceeds with same to completion, all actions necessary to cure such failure continuing for a period as soon as is reasonably possible, but in no event shall the completion of three such cure be later than ninety (390) business days after the same is due;date on which Landlord delivers to Tenant written notice of such failure, unless Landlord, acting reasonably and in good faith, otherwise expressly agrees in writing to a longer period of time based upon the circumstances relating to such failure as well as the nature of the failure and the nature of the actions necessary to cure such failure; or
(c) A 18.4 The making of a general assignment by Tenant for the benefit of creditors;
(d) The , the filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors any of Tenant’s creditors seeking the rehabilitation, said liquidation, or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors and, in the case of an involuntary petition remaining undischarged for a period of action, the failure to remove or discharge the same within sixty (60) days;
(e) Receivershipdays of such filing, the appointment of a receiver or other custodian to take possession of substantially all of Tenant’s assets or this leasehold, Tenant’s insolvency or inability to pay Tenants debts or failure generally to pay Tenant’s debts when due, any court entering a decree or order directing the winding up or liquidation of Tenant or of substantially all of Tenant’s assets, Tenant taking any action toward the dissolution or winding up of Tenant’s affairs, the cessation or suspension of Tenant’s use of the Premises, or the attachment, execution or other judicial seizure of substantially all of Tenant's ’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;leasehold.
Appears in 1 contract
Sources: Lease Agreement (Alphasmart Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is sum required to be paid hereunder when due;
(cii) A general assignment by If Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenantfails to perform any term, the filing by Tenant of a voluntary petition for an arrangement, the filing by covenant or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23Lease, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events requiring the payment of Default in subparagraphs money, and Tenant fails to cure such breach within twenty (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1020) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten twenty (1020) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the twenty (20) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the twenty (20) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written noticecompletion;
(kiii) Chronic delinquency by If Tenant in assigns its assets for the payment benefit of Rentits creditors;
(iv) If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs and Tenant fails to obtain a return or release of such Personal Property within thirty (30) days thereafter or prior to sale pursuant to such sequestration, attachment or any other periodic payments required to be paid by levy, whichever is earlier;
(v) If Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by have abandoned the Premises, Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent vacate the Premises so long as it continues to timely pay Rent, comply with its obligations under this Lease, and keep in effect all of its permits and licenses necessary to continue its business at the Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of the United States adjudging Tenant to be paid by insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant quarterly, in advance;and such decree or order shall have continued for a period of thirty (30) days.
Appears in 1 contract
Sources: Lease (Cruel World Inc)
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord’s option, constitute an event a material default by Tenant of default on the part provisions of Tenant ("DEFAULT"):this Lease:
(a) 18.1 The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any the vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not while Tenant is then in monetary default of any obligation under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure 18.2 The failure by Tenant to pay make any installment payment of Rent, Additional Rent or any other monies due payment required hereunder within three (3) business days after Landlord’s delivery of written notice to Tenant that said payment is past due. Tenant agrees that any such written notice delivered by Landlord shall, to the fullest extent permitted by law, serve as the statutorily required notice under applicable law provided that such notice is served in accordance with California Code of Civil Procedure Section 1162;
18.3 The failure by Tenant to observe, perform or comply with any of the conditions, covenants or provisions of this Lease (except failure to make any payment of Rent and/or Additional Rent) and payable hereundersuch failure is not cured within (i) thirty (30) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures other than with respect to (a) Hazardous Materials (defined in Section 27 hereof) or (b) the timely delivery by Tenant of an SNDA, said a counterpart of a fully executed Transfer document and a consent thereto (collectively, the “Transfer Documents”), an estoppel certificate and insurance certificates, (ii) fifteen (15) days of the date on which Landlord delivers written notice of such failure continuing to Tenant for a all failures in any way related to Hazardous Materials and (iii) the time period, if any, specified in the applicable sections of this Lease with respect to subordination, assignment and sublease, estoppel certificates and insurance. However, Tenant shall not be in default of its obligations hereunder if such failure (other than any failure of Tenant to timely deliver an SNDA, the Transfer Documents, an estoppel certificate or insurance certificates, for which an additional cure period of three (3) business days shall be given to Tenant) cannot reasonably be cured within such thirty (30)- day period, and Tenant promptly commences, and thereafter diligently proceeds with same to completion, all actions necessary to cure such failure as soon as is reasonably possible, but in no event shall the completion of such cure be later than ninety (90) days after the same is due;date on which Landlord delivers to Tenant written notice of such failure, unless Landlord, acting reasonably and in good faith, otherwise expressly agrees in writing to a longer period of time based upon the circumstances relating to such failure as well as the nature of the failure and the nature of the actions necessary to cure such failure; or
(c) A 18.4 The making of a general assignment by Tenant for the benefit of creditors;
(d) The , the filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors any of Tenant’s creditors seeking the rehabilitation, said liquidation, or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors and, in the case of an involuntary petition remaining undischarged for a period of action, the failure to remove or discharge the same within sixty (60) days;
(e) Receivershipdays of such filing, the appointment of a receiver or other custodian to take possession of substantially all of Tenant’s assets or this leasehold, any court entering a decree or order directing the winding up or liquidation of Tenant or of substantially all of Tenant’s assets, Tenant taking any action toward the dissolution or winding up of Tenant’s affairs, the cessation or suspension of Tenant’s use of the Premises, or the attachment, execution or other judicial seizure of substantially all of Tenant's ’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;leasehold.
Appears in 1 contract
Sources: Lease Agreement (Linkedin Corp)
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord's option, constitute an event a material default by Tenant of default on the part provisions of Tenant ("DEFAULT"):this Lease:
(a) 20.1 The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any the vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse.
20.2 The failure by Tenant to make any payment of Rent, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Additional Rent or any other monies due and payable hereunder, payment required hereunder on the date said failure continuing for a period of three (3) business days after the same payment is due;
20.3 The failure by Tenant to observe, perform or comply with any of the conditions, covenants or provisions of this Lease (except failure to make any payment of Rent and/or Additional Rent) and such failure is not cured within (i) thirty (30) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures other than with respect to (a) Hazardous Materials (defined in Section 29 hereof), (b) Tenant making the repairs, maintenance and replacements required under the provisions of Section 11.1 hereof, or (c) A the timely delivery by Tenant of a subordination, non-disturbance and attornment agreement, an assignment or sublease agreement, an estoppel certificate and insurance certificates, (ii) ten (10) business days of the date on which Landlord delivers written notice of such failure to Tenant for all failures in any way related to Hazardous Materials or Tenant failing to timely make the repairs, maintenance or replacements required by Section 11.1, and (iii) the time period specified in the applicable sections of this Lease with respect to subordination, assignment and sublease, estoppel certificates and insurance. However, Tenant shall not be in default of its obligations hereunder if such failure (other than any failure of Tenant to timely and properly make the repairs, maintenance, or replacements required by Section 11.1, or timely deliver a subordination, non-disturbance and attornment agreement, an assignment or sublease agreement, an estoppel certificate or insurance certificates, for which no additional cure period shall be given to Tenant) cannot reasonably be cured within such thirty (30) or ten (10) business day period, as applicable, and Tenant promptly commences, and thereafter diligently proceeds with same to completion, all actions necessary to cure such failure as soon as is reasonably possible, but in no event shall the completion of such cure be later than sixty (60) days after the date on which Landlord delivers to Tenant written notice of such failure, unless Landlord, acting reasonably and in good faith, otherwise expressly agrees in writing to a longer period of time based upon the circumstances relating to such failure as well as the nature of the failure and the nature of the actions necessary to cure such failure;
20.4 The making of a general assignment by Tenant for the benefit of creditors;
(d) The , the filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors any of Tenant's creditors seeking the rehabilitation, said liquidation, or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors and, in the case of an involuntary petition remaining undischarged for a period of action, the failure to remove or discharge the same within sixty (60) days;
(e) Receivershipdays of such filing, the appointment of a receiver or other custodian to take possession of substantially all of Tenant's assets or this leasehold, Tenant's insolvency or inability to pay Tenant's debts or failure generally to pay Tenant's debts when due, any court entering a decree or order directing the winding up or liquidation of Tenant or of substantially all of Tenant's assets, Tenant taking any action toward the dissolution or winding up of Tenant's affairs, the cessation or suspension of Tenant's use of the Premises, or the attachment, execution or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereofthis leasehold;
(f) 20.5 Tenant's use or storage of Hazardous Materials in, on or about any portion of the Premises or the Park other than as expressly permitted by the provisions of Section 29 below; or
20.6 The failure intentional making of any material misrepresentation or omission by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust in any materials delivered by or other legal entity;
(g) Failure on behalf of Tenant to execute and deliver Landlord pursuant to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Tenant’s Default. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: Any one of the following events shall constitute an event a default “Default”:
26.1.1 Tenant shall fail to pay any monthly installment of Rent as herein provided, and such default shall continue for a period of five (5) days after the due date (provided, that following the second such failure to pay on the part date due within any twelve (12) month period any subsequent payment within such twelve (12) month period shall be deemed an Event of Tenant ("DEFAULT"):Default if not paid on the date due;
(a) 26.1.2 The abandonment or vacation or abandonment of the Premises by Tenant for a period of ten fourteen (1014) consecutive days (with or without payment of rent).
26.1.3 Tenant shall violate or fail to perform any vacation or abandonment of the Premises other conditions, covenants or agreements herein made by Tenant which would cause any insurance policy to and such default shall continue for fifteen (15) days after notice from Landlord; provided, however, that if the nature of such default is such that Tenant can cure the default, but not within fifteen (15) days, then the Event of Default shall be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing suspended for a period not in excess of three thirty (330) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenantadditional days, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant commences cure within fifteen (15) days and thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving curing of the aforesaid written noticedefault, and so long as continuation of the default does not create material risk to the Project or to persons using the Project;
(k) Chronic delinquency 26.1.4 Tenant shall, upon provision of written confirmation of amounts paid or payable by Tenant in the payment of RentLandlord, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquencyreimburse Landlord, in addition to Landlord's any other remedies obligation hereunder, for the actual cost of sending each Notice of Default provided in this Leasehereunder, at Landlord's optionand no default shall be deemed cleared or satisfied until reimbursement of such cost is made; provided, Landlord shall have however, that the right to require that Rent be paid maximum amount payable by Tenant quarterlyfor each Notice sent shall be One Hundred and Fifty Dollars ($150.00).
26.1.5 Tenant shall file or have filed against it or any guarantor of this Lease any bankruptcy or other creditor’s action, in advance;or make an assignment for the benefit of its creditors.
Appears in 1 contract
Sources: Office Lease Agreement
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectTenant;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business 10 calendar days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant's creditors, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs Paragraph 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;.
(hg) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 2324, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(ih) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 76 above;
(ji) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) other Paragraphs or (m) above or any other subparagraphs of this Paragraph 2425, which shall be governed by such other Paragraphs), which failure continues for ten (10) calendar days after written notice thereof from Landlord to Tenant, Tenant provided that, that if Tenant has exercised ------------- reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as unless Tenant fails thereafter diligently and continuously prosecutes to prosecute the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;completion; and
(kj) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (35) business calendar days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic delinquencyDelinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;. Tenant agrees that any notice given by Landlord pursuant to Paragraph 25(b), (i) or (j) above shall satisfy the requirements for notice under California Code of Civil Procedure Section 1161, and Landlord shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding.
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of a default on the part of by Tenant ("DEFAULT"):
under this Lease: (a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or Tenant’s failure to pay when due any vacation or abandonment of the Premises by Tenant which would cause any insurance policy Rent required to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default paid under this Lease. Tenant agrees to notice and service of notice as provided Lease if the failure continues for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after written notice of the same is due;
failure from Landlord to Tenant; (b) Tenant’s failure to provide any instrument or assurance as required by section 20.2 or estoppel certificate as required by section 19.1 if the failure continues for five (5) days after written notice of the failure from Landlord to Tenant; (c) Tenant’s failure to perform any other obligation under this Lease if the failure continues for thirty (30) days after written notice of the failure from Landlord to Tenant; (d) Tenant’s abandonment of the Premises, including Tenant’s absence from the Premises for thirty (30) consecutive days (excluding Saturdays, Sundays, and California legal holidays) while in default of any provision of this Lease; (e) To the extent permitted by law: (1) A general assignment by Tenant or any guarantor of the Lease for the benefit of creditors;
; (d2) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationTenant, or any guarantor, of any proceeding under an insolvency or bankruptcy law, unless (in the filing case of an involuntary petition by proceeding) the creditors of Tenant, said involuntary petition remaining undischarged for a period of proceeding is dismissed within sixty (60) days;
; (e3) Receivership, attachment, The appointment of a trustee or other judicial seizure receiver to take possession of all or substantially all of Tenant's the assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord or any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23guarantor, unless such assignment or sublease possession is expressly conditioned upon unconditionally restored to Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure orthat guarantor within sixty (60) days after and the giving trusteeship or receivership is dissolved; (4) Any execution or other judicially authorized seizure of all or substantially all the aforesaid written notice;
(k) Chronic delinquency by assets of Tenant in located on the payment of RentPremises, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided Tenant’s interest in this Lease, at Landlord's option, Landlord shall have unless that seizure is discharged within sixty (60) days; (f) The committing of waste on the right to require that Rent be paid by Tenant quarterly, in advance;Premises.
Appears in 1 contract
Sources: Office Lease (Inpixon)
Tenant’s Default. The occurrence of any one of Tenant shall be in default under this Lease in the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):of:
(a1) The vacation or abandonment of the Premises failure by Tenant to make any payment of Base Rent, Additional Rent or any other monetary payment required to be made by Tenant hereunder, whether to Landlord or to a third party , as and when due, where such failure continues for a period of ten (10) consecutive days following written notice thereof by or on behalf of Landlord to Tenant; provided that any vacation or abandonment such notice of the Premises default shall be in lieu of, and not in addition to, any notice of default required by Applicable Laws.
(2) The failure by Tenant which would cause to perform any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default other obligation under this Lease. Tenant agrees to notice and service of notice Lease (except as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
clause (b1) Failure to pay any installment of Rent or any other monies due and payable hereunderabove), said where such failure continuing continues for a period of three thirty (30) days after written notice thereof by or on behalf of Landlord to Tenant; provided, however, that if the nature of such failure is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in Default hereunder if Tenant commences such cure within such thirty (30) day period and thereafter diligently prosecutes such cure to completion; provided, further, that any such notice of default shall be in lieu of, and not in addition to, any notice of default required by Applicable Laws.
(3) business days after The occurrence of any of the same is due;
following events: (ci) A general assignment the making by Tenant of any general arrangement or assignment for the benefit of creditors;
; (dii) The filing Tenant's becoming a "debtor" as defined in 11 U.S.C. 101 or any successor statute thereto (unless, in the case of a voluntary petition in bankruptcy by filed against Tenant, ,the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of same is dismissed within sixty (60) days;
); (eiii) Receivershipthe appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within thirty (30) days; or (iv) the attachment, execution or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or located at the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided interest in this Lease, at Landlord's optionwhere such seizure is not discharged within thirty (30) days, Landlord shall have the right to require that Rent be paid by Tenant quarterlyprovided, however, in advance;the event that any provision of this subparagraph (3) is contrary to any Applicable Law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions.
Appears in 1 contract
Sources: Assignment and Assumption of Lease (Aei Income & Growth Fund Xxi LTD Partnership)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay when due any installment of Rent or any other monies sum required to be paid hereunder when due AND TENANT FAILS TO CURE SUCH NON-PAYMENT WITHIN FIVE (5) DAYS AFTER WRITTEN NOTICE FROM LANDLORD; or
(ii) If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and payable hereunder, said failure continuing for a period of three Tenant fails to cure such breach within thirty (330) business days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same is due;to completion; or
(ciii) A general assignment by If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by Tenant, the filing by Tenant return or release of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationsuch Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
24.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Base Rent, Additional Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant sum required to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment be paid hereunder within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord said amount is due; or
24.1.2 If Tenant fails to Tenantperform any term, provided thatcovenant or condition of this Lease except those requiring the payment of money, if and Tenant has exercised reasonable diligence fails to cure such failure and breach within thirty (30) days after written notice from Landlord where such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion; or
24.1.3 If Tenant assigns its assets for the benefit of its creditors; or
24.1.4 If the sequestration or attachment of or execution on any material part of Tenant's personal property essential to the conduct of Tenant's business occurs, and actually completes Tenant fails to obtain a return or release of such cure personal property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
24.1.5 If a court makes or enters any decree or order other than under the giving bankruptcy laws of the aforesaid written notice;United States adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and such decree or order shall have continued for a period of thirty (30) days.
(k) Chronic 24.1.6 The chronic delinquency by Tenant in the payment of monthly Rent, or any other periodic payments required to be paid by Tenant under this Lease, shall constitute a default. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant tenant to pay Rent, or any other periodic payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutivenon-consecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the additional right to require that monthly Rent be paid by Tenant quarterlyquarter-annually, in advance;.
24.1.7 If there is a Guarantor, the happening of any of the events described in paragraphs 24.13, 24.1.4 or 24.1.6 of this Section with respect to the Guarantor shall constitute a default of Tenant hereunder.
Appears in 1 contract
Sources: Lease (Smtek International Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay when due any installment of Rent or any other monies due sum required to be paid, hereunder within five (5) days from the date of Landlord’s written notice to Tenant (which notice, shall constitute the notice required under California Code of Civil Procedure Section 1161) that such Rent or other sum is due; or
(ii) If Tenant fails to perform, any term, covenant or condition of this Lease except those requiring the payment of money, and payable hereunder, said failure continuing for a period of three Tenant fails to cure such breach within thirty (330) business days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same is due;to completion; or
(ciii) A general assignment by If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant’s Personal Property essential to the conduct of Tenant’s business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by return or release of such Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization’s Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant vacates or abandons the filing Premises as determined under applicable California law; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease (BigBand Networks, Inc.)
Tenant’s Default. The occurrence of any one or more of the following events shall constitute an event a default and breach of default on the part of this Lease by Tenant ("DEFAULT"an “Event of Default”):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment pursuant to Section 1951.3 of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;California Civil Code.
(b) Failure The failure by Tenant to pay make any installment payment of Rent or any other monies due payment required to be made by Tenant hereunder as and payable hereunderwhen due, said which such failure continuing shall continue for a period of three (3) business five days after the same is due;following Tenant’s receipt of written demand from Landlord.
(c) A Tenant’s failure to observe or perform any of the covenants, conditions, or provisions of this Lease to be observed or performed by Tenant, other than as described in Sections 24(a) or 24(b), where such failure shall continue for a period of 10 days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of Tenant’s default is such that more than 10 days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within such 10-day period and thereafter diligently prosecutes such cure to completion; provided that such cure shall not be in excess of 120 days.
(d) The making by Tenant of any general assignment by Tenant or general arrangement for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing appointment of an involuntary petition by the creditors a trustee or a receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, said involuntary petition remaining undischarged for a period of sixty (60) where possession is not restored to Tenant within 60 days;
(e) Receivership, or the attachment, execution, or other judicial seizure of substantially all of Tenant's ’s assets on located at the PremisesPremises or of Tenant’s interest in this Lease, where such attachment seizure is not discharged in 60 days.
(e) The filing of any voluntary petition in bankruptcy by Tenant, or other seizure remaining undismissed or the filing of any involuntary petition by Tenant’s creditors, which involuntary petition remains undischarged for a period of sixty (60) days after 60 days. In the levy thereof;event that under applicable law the trustee in bankruptcy or Tenant has the right to affirm this Lease and perform the obligations of Tenant hereunder, such trustee or Tenant shall, in such time period as may be permitted by the bankruptcy court having jurisdiction, cure all defaults of Tenant hereunder outstanding as of the date of the affirmance of this Lease, and provide to Landlord such adequate assurances as may be necessary to ensure Landlord of the continued performance of Tenant’s obligation under this Lease.
(f) The failure by Tenant to maintain its legal existenceSelling, if Tenant is a corporationleasing, partnershipassigning, limited liability companyencumbering, trust hypothecating, transferring, or other legal entity;otherwise disposing of all or substantially all of the Tenant’s assets, except (I) as otherwise provided in this Lease or (2) without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed.
(g) Failure If Tenant is a partnership or consists of Tenant to execute and deliver to Landlord more than one person or entity, if any estoppel certificate, subordination agreement, partner of the partnership or lease amendment within the time periods and other person or entity is involved in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements the acts or obligations hereunder (except those failures specified as events of Default described in subparagraphs (b), (lSections 24(d) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs24(e), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Tenant’s Default. The occurrence of any one or more of the ----------------- following events (each, an "Event of Default") shall constitute an event a breach of default on the part of Tenant ("DEFAULT"):this ---------------- Lease by Tenant:
(a) The vacation or abandonment of the Premises by Tenant fails to pay any Rent when due and such failure continues for a period of ten five (105) consecutive days or any vacation or abandonment more following Landlord's notice of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;such failure.
(b) Failure Tenant fails to pay any installment of Rent perform its obligations under Section 17 (Assignment and Sublease), or any other monies due and payable hereunder, said failure continuing for a period of three Section 28 (3) business days after the same is due;Hazardous Substances).
(c) A general assignment by Tenant for abandons the benefit of creditors;Premises.
(d) The filing of a voluntary petition Tenant fails to perform any obligation to Landlord under this Lease other than those described in bankruptcy by TenantSections 12.1(a), 12.1(b) or 12.1(c) above, and such failure continues for thirty (30) days after written notice from Landlord or Landlord's agent, except that if Tenant begins to cure its failure within the thirty (30) day period but cannot reasonably complete its cure within such period, then, so long as Tenant continues to diligently attempt to cure its failure, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationthirty (30) day period shall be extended to one hundred twenty (120) days, or such lesser period as is reasonably necessary to complete the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;cure.
(e) Receivership, attachment, One of the following credit defaults occurs:
(i) Tenant (or other judicial seizure of substantially all any guarantor of Tenant's assets on the Premisesobligations hereunder) commences any proceeding under any law relating to bankruptcy, such attachment insolvency, reorganization or relief of debts, or seeks appointment of a receiver, trustee, custodian or other seizure remaining similar official for the Tenant (or the guarantor) or for any substantial part of its property, or any such proceeding is commenced against Tenant (or the guarantor) and either remains undismissed or undischarged for a period of sixty (60) days or results in the entry of an order for relief against Tenant (or the guarantor) which is not fully stayed within seven (7) days after the levy thereofentry;
(fii) The failure by Tenant (or any guarantor of Tenant's obligations hereunder) becomes bankrupt, does not generally pay its debts as they become due, or admits in writing its inability to maintain pay its legal existencedebts, if Tenant is or makes a corporation, partnership, limited liability company, trust or other legal entitygeneral assignment for the benefit of creditors;
(giii) Failure Any third party obtains a levy or attachment under process of law against Tenant's leasehold interest. Tenant to execute acknowledges and deliver to Landlord any estoppel certificateagrees that, subordination agreement, or lease amendment within notwithstanding the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, foregoing provisions of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23Section 12, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of that any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments notices required to be paid given by Tenant Landlord under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquencySection 12 shall, in each case, be in lieu of, and not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure, and shall be deemed to Landlord's other remedies for Default provided in this Leasesatisfy the requirement, at Landlord's optionif any, Landlord shall have the right that notice be given pursuant to require that Rent be paid by Tenant quarterly, in advance;such section.
Appears in 1 contract
Sources: Lease (Ydi Wireless Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
24.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent Base Rent, additional rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant sum required to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment be paid hereunder within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenantthat such payment was due, provided thatbut was not paid as of the due date (provided, however, if Landlord has delivered two (2) such notices to Tenant has exercised reasonable diligence in any twelve (12) month period, or four (4) such notices over the Term of this Lease, whichever first occurs, then any subsequent failure to cure pay Base Rent, additional rent or any other sum required to be paid to Landlord hereunder on or before the due date for such failure and such failure cannot be cured within payment shall constitute a default by Tenant without requirement of such ten (10) day period despite reasonable diligencenotice and opportunity to cure); or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money to Landlord as set forth in Section 24.1.1 above, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, Tenant shall not be considered in default under this subparagraph so long as Tenant if it commences such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion and actually completes completion, such cure within sixty grace period not to exceed a maximum of ninety (6090) days after in the giving aggregate, subject to Force Majeure. If any provisions of this Lease calls for a shorter or different grace period than that set forth above, then such other provision shall control over this provision. The foregoing notice and cure period notwithstanding, Landlord may exercise its self-help rights hereunder (i.e., Landlord's right to perform any obligation of Tenant which Tenant has failed to perform hereunder) without any prior notice or upon such shorter notice as may be reasonable under the circumstances in the event of any one or more of the aforesaid written notice;
following circumstances is present: (ki) Chronic delinquency by Tenant in there exists a reasonable risk of prosecution of Landlord unless such obligation is performed sooner than the payment stated cure period, (ii) there exists an imminent possibility of Rentdanger to the health or safety of the Landlord, the Tenant, Tenant's invitees, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rentoccupants of, or any other payments visitors to, the Building, unless such obligation is performed sooner than the stated cure period, and/or (iii) the Tenant has failed to obtain insurance required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlordor such insurance has been canceled by the insurer without being timely replaced by Tenant, as required herein.
24.1.3 If Tenant or any guarantor of this Lease shall (i) make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any guarantor of this Lease and of all or any part of Tenant's optionor such guarantor's property, Landlord shall have (iv) file a petition seeking an order for relief under the right Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (v) fail to require that Rent be paid by Tenant quarterlywin the dismissal, in advance;discontinuation or vacating of any involuntary bankruptcy proceeding within ninety (90) days after such proceeding is initiated.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist ---------------- if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation If Tenant fails to pay Rent or abandonment of the Premises by Tenant for a period of any other sum required to be paid hereunder within ten (10) consecutive days or any vacation or abandonment of the Premises by date due; or
(ii) If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money and except for those obligations for which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant default thereof is then in monetary default under this Lease. Tenant agrees to notice and service of notice as separately provided for in other subparagraphs of this Lease paragraph 25.A., and waives any right Tenant fails to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
cure such breach within thirty (b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (6030) days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period; provided, however, that where such failure could not reasonably be cured within the levy thereof;thirty (30) day period, that Tenant shall not be in default if it commences such cure within the thirty (30) day period and thereafter diligently prosecutes same to completion, which completion shall occur not later than ninety (90) days from the date of receipt of written notice from Landlord; or
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(giii) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 Paragraph 29 or 31 26 or 4236, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;respectively; or
(hiv) An assignment or sublease, or attempted assignment or sublease, of this Lease by Tenant contrary to the provisions of Paragraph 24, or a sublease or attempted sublease of the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;24; or
(iv) Failure If Tenant assigns its assets for the benefit of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;its creditors; or
(jvi) Failure in If the performance sequestration or attachment of or execution on any material part of Tenant's covenantsPersonal Property essential to the conduct of Tenant's business occurs, agreements and Tenant fails to obtain a return or obligations hereunder release of such Personal Property within thirty (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord thereafter, or prior to Tenantsale pursuant to such sequestration, provided thatattachment or levy, if whichever is earlier; or
(vii) If Tenant has exercised reasonable diligence fails to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligencecontinuously or uninterruptedly conduct its business in the Premises, or shall have abandoned or vacated the Premises; provided, however, Tenant shall not be in default under hereunder pursuant to the provisions of this subparagraph so long as Paragraph 25A(vii) if Tenant thereafter diligently and continuously prosecutes ceases conducting its business in the cure to completion and actually completes such cure within Premises or vacates the Premises for no more than sixty (60) consecutive or non-consecutive days after during the giving Term of this Lease; or
(viii) If a court makes or enters any decree or order other than under the bankruptcy laws of the aforesaid written notice;
(k) Chronic delinquency by United States adjudging Tenant in the payment of Rent, or any other periodic payments required to be paid by insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant under this Lease. "CHRONIC DELINQUENCY" and such decree or order shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof have continued for any three (3) months (consecutive or nonconsecutive) during any a period of twelve thirty (1230) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days.
Appears in 1 contract
Sources: Lease (Hiway Technologies Inc)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of the Premises by Tenant for a period in excess of ten fourteen (1014) consecutive days or any vacation or abandonment of the Premises by days, while Tenant which would cause any insurance policy fails to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectpay Rent;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant's creditors, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs Paragraph 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(hg) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 2324, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(ih) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 76 above;
(ji) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs Paragraphs of this Paragraph 2425, which shall be governed by such other Paragraphs), which failure continues for ten thirty (1030) days after written notice thereof from Landlord to Tenant, Tenant provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten thirty (1030) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as unless Tenant fails thereafter diligently and continuously prosecutes to prosecute the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;completion; and
(kj) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic delinquencyDelinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;. Tenant agrees that any notice given by Landlord pursuant to Paragraph 25(i) or (j) above shall satisfy the requirements for notice under California Code of Civil Procedure Section 1161, and Landlord shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding.
Appears in 1 contract
Tenant’s Default. The occurrence of any one or more of the following events shall constitute an event a default and breach of default on the part of Tenant ("DEFAULT"):this Lease by Tenant:
(a) a. The vacation or abandonment of the Premises failure by Tenant for a period of ten (10) consecutive days or to make any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment payment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three payment required hereunder within five (35) business days after from the date the same is duedue and payable;
(c) A general assignment by b. Tenant for abandons the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged Premises for a continuous period of sixty at least thirty (6030) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) c. The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord observe, perform or comply with any estoppel certificate, subordination agreement, of the conditions or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, provisions of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23for a period, unless such assignment or sublease a longer period is expressly conditioned upon Tenant having received Landlord's consent thereto;
otherwise provided herein, of thirty (i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord to Tenantnotice, provided that, or if Tenant has exercised reasonable diligence to cure such failure and such failure default cannot be cured within that time, then such ten additional time as may be reasonably necessary if within such thirty (1030) day period despite reasonable diligencedays Tenant has commenced and is diligently pursuing such activities as are necessary to cure the default; and
d. Tenant becomes the subject of any bankruptcy, reorganization or insolvency proceeding, whether voluntary or involuntary, and, in the case of an involuntary bankruptcy proceeding, Tenant shall not fails to cause the same to be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure dismissed within sixty (60) days after the giving following that date of the aforesaid written notice;
(k) Chronic delinquency by filing of such bankruptcy. Any notice from Landlord to Tenant described in this Section 19 shall, in the payment sole discretion of RentLandlord, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within constitute a three (3) business days after written day notice thereof for pursuant to California Code of Civil Procedure section 1161 or any three (3) months (consecutive or nonconsecutive) during successor statute. With respect to any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided "default" by Tenant referenced in this Lease, at Landlord's optionthe term "default" as used in such context shall mean any of the events described in subsections (a), Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;(b) and/or (c) of this Section 19.
Appears in 1 contract
Sources: Lease Agreement (Avanex Corp)
Tenant’s Default. The occurrence of any one or more of the following events shall if uncured before the expiration of the cure periods set forth below, if any, will be a material default and breach of this Lease by Tenant (“Default”). Any notice required by the terms of this Lease in connection with any such default will be in lieu of, and not in addition to, any notice required under Sections 1161, et seq., of the California Code of Civil Procedure:
(a) Tenant fails to pay any Rent payment or other sum due under this Lease after the same will be due and payable, and such failure continues for a period of five (5) days after Tenant’s receipt of written notice thereof from Landlord; it being understood, however, that Tenant will only be given two (2) such notices and cure periods during the Term, and after the second (2nd) such notice given to Tenant by Landlord, any subsequent failure by Tenant to pay Rent and other sums due under this Lease as and when due will constitute an event of default a Default under this Lease without any requirement on the part of Tenant ("DEFAULT"):Landlord to provide any further notice or opportunity to cure.
(ab) The vacation Tenant fails to perform or abandonment of the Premises observe any term, condition, covenant, or obligation required to be performed or observed by Tenant it under this Lease for a period of ten thirty (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord (or such shorter time period as may be provided in this Lease); provided, however, that if the term, condition, covenant, or obligation to Tenant, provided that, if be performed by Tenant has exercised reasonable diligence to cure is of such failure and such failure nature that the same cannot reasonably be cured within thirty (30) days and if Tenant commences such ten (10) performance within said 30-day period despite reasonable diligenceand thereafter diligently undertakes to complete the same, then such failure will not constitute a Default hereunder if it is cured within sixty (60) days following receipt of Landlord’s notice.
(c) A trustee, disbursing agent, or receiver is appointed to take possession of all or substantially all of Tenant’s assets in, on or about the Premises or of Tenant’s interest in this Lease (and Tenant or any guarantor of Tenant’s obligations under this Lease does not regain possession within sixty (60) days after such appointment); or Tenant makes an assignment for the benefit of creditors; or all or substantially all of Tenant’s assets in, on or about the Premises or Tenant’s interest in this Lease are attached or levied upon under execution (and Tenant does not discharge the same within sixty (60) days thereafter).
(d) A petition in bankruptcy, insolvency, or for reorganization or arrangement is filed by or against Tenant or any guarantor of Tenant’s obligations under this Lease pursuant to any federal or state statute, and, with respect to any such petition filed against it, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure or such guarantor fails to completion and actually completes such cure secure a stay or discharge thereof within sixty (60) days after the giving filing of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthssame. In the event that any provision of a Chronic delinquencythis Section 20.1(d) is contrary to any applicable Laws, in addition to Landlord's such provision will be of no force or effect.
(e) Any assignment, subletting, or other remedies transfer for Default provided in this Lease, at Landlord's option, which the prior written consent of the Landlord shall have the right to require that Rent be paid has not been obtained.
(f) Discovery of any false or misleading statement concerning financial information submitted by Tenant quarterly, or any guarantor of Tenant’s obligations under this Lease to Landlord in advance;connection with obtaining this Lease or any other consent or agreement by Landlord.
(g) Tenant’s admission in writing of its inability to pay its debts as they mature.
Appears in 1 contract
Sources: Lease Agreement (Ryland Group Inc)
Tenant’s Default. The occurrence of A “Default” under this Lease by Tenant shall exist if any one of the following events shall constitute an event occurs (taking into account the expiration of default on the part of Tenant ("DEFAULT"notice and cure periods provided for below):
(a) The vacation or abandonment of the Premises by 24.1.1 If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Base Rent, Additional Rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within five (35) business days after the same is due;
receipt (cor deemed receipt pursuant to Section 30) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangementwritten notice from Landlord that such payment was due, but was not paid as of the filing by due date; or
24.1.2 If Tenant fails to perform any term, covenant or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or except those requiring the payment of money to Landlord as set forth in Section 24.1.1 above (including Tenant’s obligation to accept delivery of possession of phases of the Premises by Tenant contrary to the provision of Paragraph 23in accordance with Section 1.3, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (babove), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if and Tenant has exercised reasonable diligence fails to cure such failure and breach within fifteen (15) calendar days after receipt (or deemed receipt pursuant to Section 30) by Tenant of written notice from Landlord where such failure cannot breach could reasonably be cured within such ten fifteen (1015) calendar day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the fifteen (15) calendar day period, Tenant shall not be in default Default if it commences such performance promptly after its receipt of Landlord’s written notice and diligently thereafter prosecutes the same to completion; provided that the foregoing cure period shall not be invoked to prevent Landlord from exercising its rights under Section 38 below to perform an obligation which Tenant has failed to perform under this subparagraph so long Lease on Tenant’s behalf (and at Tenant’s expense), and with notice to the extent reasonable, in cases of Emergency; or
24.1.3 If Tenant shall (i) make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant and of all or substantially all of Tenant’s property, (iv) file a petition seeking an order for relief under the Bankruptcy Code, as Tenant thereafter diligently and continuously prosecutes now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the cure same or similar relief, or (v) fail to completion and actually completes such cure win the dismissal, discontinuation or vacating of any involuntary bankruptcy proceeding within sixty ninety (6090) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;such proceeding is initiated.
Appears in 1 contract
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute an event occur: (i) if Tenant shall have failed to pay Rent or any other sum required to be paid hereunder when due; or (ii) if Tenant shall have failed to perform any term, covenant or condition of this Lease other than those requiring the payment of money, and Tenant shall have failed to cure such failure within fifteen (15) days after written notice from Landlord where such failure could reasonably be cured within such fifteen (15) day period, provided however, that where such failure could not reasonably be cured within the fifteen (15) day period, that Tenant shall not be in default if it has commenced such cure within the fifteen (15) day period and diligently thereafter prosecutes the same to completion which in all events must occur within sixty (60) days thereafter; (iii) if Tenant shall have assigned its assets for the benefit of its creditors; (iv) if the sequestration or attachment of or execution on the any material part of Tenant's Personal Property essential to the conduct of Tenant's business shall have occurred, and Tenant shall have failed to obtain a return or release of such Personal Property within thirty ("DEFAULT"):
30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; (av) The vacation if Tenant shall have failed to continuously or abandonment uninterruptedly conduct its business in the Premises, or shall have abandoned or vacated the Premises; (vi) if a court shall have made or entered any decree or order other than under the bankruptcy laws of the Premises by United States or any state adjudging Tenant to be insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of ten thirty (1030) consecutive days or any vacation or abandonment of days; (vii) the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, involuntary petition for reorganization, or the filing of an involuntary petition by Tenant's creditors, immediately (unless involuntary, which case when the creditors of Tenant, said involuntary petition remaining remains undischarged for a period of sixty thirty (6030) days;
); (eviii) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust shall have failed to timely comply with the provisions of Paragraph 26 or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, 29 of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Sublease Agreement (Steri Oss Inc)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"“Default”):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapselapse unless, within five (5) days after the lapse of such policy, Tenant obtains a replacement insurance policy providing coverage equivalent to that provided by the lapsed policy and otherwise reasonably satisfactory to Landlord in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Leaseform and substance. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three five (35) business days after written notice that the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's ’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 4232 or 43, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 4041, where such failure continues for five (5) days after written notice to Tenant of such failure;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's ’s consent thereto;
(i) Failure of Tenant to provide the Letter of Credit to Landlord on or before October 5, 2003 or, thereafter, to restore the Security Deposit Letter of Credit to the amount and within the time period provided in Paragraph 77 above;
(j) Failure in the performance of any of Tenant's ’s covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten thirty (1030) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten thirty (1030) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written noticecompletion;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments Any insurance required to be paid maintained by Tenant under pursuant to this Lease shall be canceled or terminated or shall expire or be reduced or materially changed, except as permitted in this Lease. "CHRONIC DELINQUENCY" shall mean , where such failure is not cured within five (5) days of written notice thereof from Landlord to Tenant; and
(l) Any failure by Tenant to pay Rent, discharge any lien or encumbrance placed on the Project or any other payments required to be paid by Tenant under part thereof in violation of this Lease within three thirty (330) business days after the date Tenant obtains knowledge that such lien or encumbrance has been filed or recorded against the Project or any part thereof. Tenant agrees that any written notice thereof of default given by Landlord pursuant to this Paragraph 24 shall satisfy the requirements for any three (3) months (consecutive or nonconsecutive) during any period notice under California Code of twelve (12) months. In the event Civil Procedure Section 1161, provided that such notice is served in accordance with California Code of a Chronic delinquencyCivil Procedure Section 1162, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, and Landlord shall have the right not be required to require that Rent give any additional notice in order to be paid by Tenant quarterly, in advance;entitled to commence an unlawful detainer proceeding.
Appears in 1 contract
Sources: Lease Agreement (Kyphon Inc)
Tenant’s Default. The occurrence A material breach of this Lease by Tenant shall, exist if any one of the following events (severally, “Event of Default”; collectively, “Events of Default”) shall constitute an event of default on the part of occur: (i) if Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may shall have under any statute or law now or hereafter in effect;
(b) Failure failed to pay any installment Base Rent, Tenant’s Percentage Share of Rent increased Operating Expenses, or any other monies sum required to be paid hereunder when due, including any interest due and payable hereunder, said failure continuing for a period of three under Section 3; (3ii) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporationshall have failed to perform any term, partnership, limited liability company, trust covenant or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events requiring the payment of Default in subparagraphs money, and Tenant shall have failed to cure the breach within thirty (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot the breach could reasonably be cured within such ten the thirty (1030) day period despite reasonable diligenceperiod; provided, however, if the failure could not reasonably be cured within the thirty (30) day period, then Tenant shall not be in default under this subparagraph so long unless it has failed to promptly commence and thereafter continue to make diligent and reasonable efforts to cure the failure as soon as practicable as reasonably determined by Landlord; (iii) if Tenant thereafter diligently shall have assign its assets for the benefit of its creditors; (iv) if the sequestration of, attachment of, or execution on, any material part of the property of Tenant or on any property essential to the conduct of Tenant’s business shall have occurred, and continuously prosecutes Tenant shall have failed to obtain a return or release of the cure to completion and actually completes such cure property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to any sequestration, attachment or levy, whichever is earlier; (v) if Tenant shall have abandoned or vacated the giving Premises; (vi) if a court shall have made or entered any decree or order adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and the decree or order shall have continued for a period of thirty (30) days; (vii) if Tenant shall make or suffer any transfer which constitutes a fraudulent or otherwise avoidable transfer under any provision of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, federal Bankruptcy Laws or any other periodic payments required applicable state law; or (viii) if Tenant shall have failed to be paid by Tenant comply with the provisions of Sections 23 or 25 of this Lease within the time periods stated therein. An Event of Default shall constitute a default under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Net Lease (Renovis Inc)
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute occur (each is called an event “Event of default on the part of Tenant ("DEFAULT"Default”):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of the Rent or any other monies due and payable hereunder, said failure continuing as and when due, for a period of three (3) business days after Notice by Landlord; provided, however, the same is dueNotice given hereunder shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure;
(b) Tenant attempts to make or suffers to be made any transfer, assignment or subletting, except as permitted in Article XIV hereof;
(c) A general assignment Any of Tenant’s rights under this Lease are sold or otherwise transferred by Tenant for or under court order or legal process or otherwise or if any of the benefit of creditorsactions described in Section 15.2 are taken by or against Tenant;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition Premises are used for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) daysany purpose other than as permitted pursuant to Article V;
(e) Receivership, attachment, Tenant vacates or other judicial seizure of substantially all of Tenant's assets on abandons the Premises or fails to continuously and uninterruptedly conduct its business in the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure Any representation or warranty given by Tenant or any Guarantor under or in connection with this Lease proves to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust be materially false or other legal entitymisleading;
(g) Failure Tenant fails to timely comply with the provisions of Tenant to execute Section 3.2 (“Term and deliver to Landlord any estoppel certificateCommencement”), subordination agreementArticle VI (“Hazardous Materials”), Article XI (Indemnity and Insurance) and Exhibit F (Insurance Rider), Article XIV (“Assignment and Subletting”), Article XVI (“Subordination; Estoppel Certificate; Financials”), Section 21.5 (“Modifications for Mortgagees”) or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;Section 21.19 (“Authority”); or
(h) An assignment Tenant fails to observe, keep, perform or sublease, or attempted assignment or sublease, of this Lease or the Premises cure within thirty (30) days after Notice by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of Landlord any of Tenant's the other terms, covenants, agreements or obligations hereunder (except conditions contained in this Lease or those failures specified as events of Default set forth in subparagraphs (b), (l) or (m) above or any other subparagraphs agreements or rules or regulations which Tenant is obligated to observe or perform. The Notice required by this Section 15.1(h) shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure. No Notice given under this Section 15.1 shall be deemed a forfeiture or a termination of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Lease unless Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant elects in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;Notice.
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"“Default”):
(a) The vacation of the Premises for a consecutive period of sixty (60) days or more, without (i) the intention of retaking possession or occupancy, and (ii) providing for the security of the Building, or the abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any other vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three hereunder within five (35) business days after the date the same is are due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's ’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The Death or disability of Tenant, if Tenant is a natural person, or the failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within in the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision provisions of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's ’s consent thereto;
(i) Failure of Tenant to deposit the Letter of Credit with Landlord when required under Paragraph 7, and/or failure of Tenant to restore the Security Deposit Letter of Credit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's ’s covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphssubparagraphs), which failure continues for ten thirty (1030) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten thirty (1030) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written noticecompletion;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" “Chronic delinquency” shall mean failure by Tenant to pay Rent, or any other periodic payments required to be paid by Tenant under this Lease within three Lease, when due (3i) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonths or (ii) for any twelve (12) months (consecutive or nonconsecutive) during the Term. In the event of a Chronic delinquencyDelinquency, in addition to Landlord's ’s other remedies for Default provided in this Lease, at Landlord's ’s option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;
Appears in 1 contract
Tenant’s Default. The occurrence An Event of Default under this Lease by Tenant ---------------- shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within fourteen (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (6014) days after the levy thereof;
(f) The failure by receipt of written notice; provided, however, that Tenant may cure such default at any time prior to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, termination of this Lease by Landlord by paying all Rent and other expenses or charges then due together with interest at the Premises by Tenant contrary to Interest Rate from the provision due date through the date of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;payment; or
(iii) Failure If Tenant fails to perform any term, covenant or condition of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (this Lease except those failures specified as events requiring the payment of Default in subparagraphs money, and Tenant fails to cure such breach within twenty (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1020) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten twenty (1020) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the twenty (20) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the twenty (20) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion; or
(iii) If Tenant assigns its assets for the benefit of its creditors; or
(iv) If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and actually completes Tenant fails to obtain a return or release of such cure Personal Property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If a court makes or enters any decree or order other than under the giving bankruptcy laws of the aforesaid written notice;
(k) Chronic delinquency by United States adjudging Tenant in the payment of Rent, or any other periodic payments required to be paid by insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant under this Lease. "CHRONIC DELINQUENCY" and such decree or order shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof have continued for any three (3) months (consecutive or nonconsecutive) during any a period of twelve thirty (1230) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
25.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within five (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (605) days after the levy thereof;date due; or
(f) The failure by 25.1.2 If Tenant falls to maintain its legal existenceperform any term, if Tenant is a corporation, partnership, limited liability company, trust covenant or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events requiring the payment of Default in subparagraphs (b)money, (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by and Tenant fails to cure such other Paragraphs), which failure continues for breach within ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten (10) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the ten (10) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the ten (10) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion; or
25.1.3 If Tenant assigns its assets for the benefit of its creditors; or
25.1.4 If the sequestration or attachment of or execution on any material part of Tenant's personal property essential to the conduct of Tenant's business occurs, and actually completes Tenant fails to obtain a return or release of such cure personal property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
25.1.5 If a court makes or enters any decree or order other than under the giving bankruptcy laws of the aforesaid written notice;
(k) Chronic delinquency by United States adjudging Tenant in the payment of Rent, or any other periodic payments required to be paid by insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant under this Lease. "CHRONIC DELINQUENCY" and such decree or order shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof have continued for any three (3) months (consecutive or nonconsecutive) during any a period of twelve thirty (1230) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days.
Appears in 1 contract
Sources: Office Lease (Shrena Software Inc)
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occur:
22.1.1. If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may shall have under any statute or law now or hereafter in effect;
(b) Failure failed to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within twenty (320) business days after receipt of written notice from Landlord that payment is past due; provided, however, that Tenant may cure said default at any time prior to a termination of this Lease by Landlord by paying all Rent and other expenses or charges then due together with interest through the date of payment; or
22.1.2. If Tenant shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant shall have failed to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default if it has commenced such performance within the thirty (30) day period and diligently thereafter prosecutes the same is due;to completion; or
(c) A general assignment by 22.1.3. If Tenant shall have assigned its assets for the benefit of creditors;its creditors pursuant to any proceeding under the United States Bankruptcy Code; or
22.1.4. If the sequestration or attachment of or execution on any material part of Tenant's personal property essential to the conduct of Tenant's business shall have occurred, and Tenant shall have failed to obtain a return or release of such personal property within sixty (d60) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationdays thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
22.1.5. If a court shall have made or entered any decree or order other than under the filing bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;; or
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event a material default and breach of default on the part of Tenant ("DEFAULT"):
(this Lease by Tenant: a) Any failure by Tenant to pay the rental or to make any other payment required to be made by Tenant hereunder provided however, that Tenant may cure such default by payment to Landlord of the Base Monthly Rent or other sum due within ten (10) days after receipt by Tenant of written notice specifying Landlord has failed to receive the amount in question; b) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(Tenant; c) A failure by Tenant to observe and perform any other provision of this Lease to be observed or performed by Tenant, where such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) day period Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, ; the filing by or against Tenant of a petitionpetition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, voluntary in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or involuntaryreceiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, for reorganization, where possession is not restored to Tenant within thirty (30) days; or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, execution or other judicial seizure of substantially all of Tenant's ’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or located at the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided ’s interest in this Lease, at Landlord's option, Landlord shall have where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and not in addition to the right to require that Rent be paid notices required by Tenant quarterly, in advance;California Code of Civil Procedure Section 1161.
Appears in 1 contract
Sources: Lease Agreement (Affymetrix Inc)
Tenant’s Default. The occurrence of any one of the following events shall be an "Event of Default" (sometimes referred to herein as a "default") by Tenant and a material breach of this Lease:
(1) Tenant shall fail to make any payment owed by Tenant under this Lease, as and when due, and such failure is not cured within five (5) days after Tenant receives written notice from Landlord specifying such failure, unless Landlord is legally prohibited from issuing a notice of default, in which event no grace period shall apply. At Landlord's election, any such notice shall be concurrent with, and not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure;
(2) Tenant shall fail to observe, keep or perform any of the terms, covenants, agreements or conditions under this Lease that Tenant is obligated to observe or perform, other than that described in subsection (1) above, for a period of thirty (30) days after Tenant receives written notice from Landlord of said failure; provided, however, that if the nature of Tenant's default is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default under this Lease if Tenant shall commence the cure of such default within said thirty (30) day period and diligently prosecute the same to completion within such time period as is reasonably needed but not to exceed ninety (90) days from the date of Landlord's notice. Notwithstanding the foregoing, if Landlord is legally prohibited from issuing a notice of default, then no grace period shall apply. At Landlord's election, any such notice from Landlord shall be concurrent with, and not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure. Notwithstanding the foregoing, the following shall constitute an event of default on the part without any additional notice or lapse of Tenant time: ("DEFAULT"):
(ai) The vacation or abandonment of the Premises by Tenant for a period of failure to provide an estoppel certificate as required under Paragraph 31(i.e., within ten (10) consecutive days following written notice from Landlord), or any vacation or abandonment (ii) failure to provide an agreement for the benefit of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapsea Lender under Paragraph 22 (i.e., in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to within fifteen (15) days following written notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectfrom Landlord);
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
Tenant shall (ci) A make any general arrangement or assignment by Tenant for the benefit of creditors;
; (dii) The filing become a "debtor" as defined in 11 U.S.C. Section 101 or any successor statute thereto (unless, in case of a voluntary petition in bankruptcy by filed against Tenant, the filing by Tenant same is dismissed within 60 days); (iii) suffer the appointment of a voluntary petition for an arrangement, the filing by trustee or against Tenant receiver to take possession of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, said involuntary petition remaining undischarged for a period of sixty where possession is not restored to Tenant within 30 days; or (60iv) days;
(e) Receivership, suffer the attachment, execution or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or located at the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided interest in this Lease, at Landlord's option, Landlord where such seizure is not discharged within 30 days. The provisions of this subparagraph 24(3) shall have the right also apply to require that Rent be paid by Tenant quarterlyany Guarantor of this Lease. However, in advance;the event that any provision of this subparagraph is contrary to any applicable law, such provision shall be of no force or effect; or
(4) Tenant shall vacate or abandon the Premises at any time during the Lease Term (except that Tenant may vacate so long as it pays Rent, provides an on site security guard during normal business hours from Monday through Friday, and otherwise performs its obligations hereunder).
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
24.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent, Additional Rent or any other monies sum required to be paid hereunder after written notice from Landlord that such sums are due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, fails to cure such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment breach within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days of receipt of such notice; or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion; and
24.1.3 If Tenant assigns its assets for the benefit of its creditors; or
24.1.4 If the sequestration or attachment of or execution on any material part of Tenant's personal property essential to the conduct of Tenant's business occurs, and actually completes Tenant fails to obtain a return or release of such cure personal property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
24.1.5 If a court makes or enters any decree or order other than under the giving bankruptcy laws of the aforesaid written notice;United States adjudging Tenant to be insolvent, or approving as properly filed a petition seeking reorganization of Tenant, or directing the winding up or liquidation of Tenant, and such decree or order shall have continued for a period of thirty (30) days.
(k) Chronic 24.1.6 The chronic delinquency by Tenant in the payment of monthly Rent, or any other periodic payments required to be paid by Tenant under this Lease, shall constitute a default. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other periodic payments required to be paid by Tenant under this Lease within three five (35) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the additional right to require that monthly Rent be paid by Tenant quarterlyquarter-annually, in advance;.
Appears in 1 contract
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord’s option, constitute an event a material default by Tenant of default on the part provisions of Tenant ("DEFAULT"):this Lease:
(a) 18.1 The vacation or abandonment of the Premises by Tenant;
18.2 The failure by Tenant for a period to make any payment of ten (10) consecutive days Rent, Additional Rent or any vacation or abandonment other payment required hereunder within three (3) business days after Landlord’s delivery of written notice to Tenant that said payment is past due. Tenant agrees that any such written notice delivered by Landlord shall, to the Premises fullest extent permitted by Tenant which would cause any insurance policy law, serve as the statutorily required notice under applicable law. In addition to be invalidated or otherwise lapsethe foregoing, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease;
18.3 The failure by Tenant to observe, perform or comply with any of the conditions, covenants or provisions of this Lease (except failure to make any payment of Rent and/or Additional Rent and waives any right to any other or further payment required hereunder) and such failure is not cured within (i) thirty (30) days of the date on which Landlord delivers written notice or service of notice which such failure to Tenant may have under any statute or law now or hereafter for all failures other than with respect to (a) Hazardous Materials (defined in effect;
Section 27 hereof), (b) Failure Tenant making the repairs, maintenance and replacements required under the provisions of Section 11.1 hereof, or (c) the timely delivery by Tenant of a subordination, non-disturbance and attornment agreement (an “SNDA”), a counterpart of a fully executed Transfer document and a consent thereto (collectively, the “Transfer Documents”), an estoppel certificate and insurance certificates, (ii) ten (10) days of the date on which Landlord delivers written notice of such failure to pay Tenant for all failures in any installment way related to Hazardous Materials or Tenant falling to timely make the repairs, maintenance or replacements required by Section 11.1, and (iii) the time period, if any, specified in the applicable sections of Rent this Lease with respect to subordination, assignment and sublease, estoppel certificates and insurance. However, Tenant shall not be in default of its obligations hereunder if such failure (other than any failure of Tenant to timely and properly make the repairs, maintenance, or any other monies due replacements required by Section 11.1, or timely deliver an SNDA, the Transfer Documents, an estoppel certificate or insurance certificates, for which no additional cure period shall be given to Tenant) cannot reasonably be cured within such thirty (30) or ten (10) day period, as applicable, and payable hereunderTenant promptly commences, said and thereafter diligently proceeds with same to completion, all actions necessary to cure such failure continuing for a period as soon as is reasonably possible, but in no event shall the completion of three such cure be later than sixty (360) business days after the same is due;date on which Landlord delivers to Tenant written notice of such failure, unless Landlord, acting reasonably and in good faith, otherwise expressly agrees in writing to a longer period of time based upon the circumstances relating to such failure as well as the nature of the failure and the nature of the actions necessary to cure such failure; or
(c) A 18.4 The making of a general assignment by Tenant for the benefit of creditors;
(d) The , the filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors any of Tenant’s creditors seeking the rehabilitation, said liquidation, or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors and, in the case of an involuntary petition remaining undischarged for a period of action, the failure to remove or discharge the same within sixty (60) days;
(e) Receivershipdays of such filing, the appointment of a receiver or other custodian to take possession of substantially all of Tenant’s assets or this leasehold, Tenant’s insolvency or inability to pay Tenant’s debts or failure generally to pay Tenant’s debts when due, any court entering a decree or order directing the winding up or liquidation of Tenant or of substantially all of Tenant’s assets, Tenant taking any action toward the dissolution or winding up of Tenant’s affairs, the cessation or suspension of Tenant’s use of the Premises, or the attachment, execution or other judicial seizure of substantially all of Tenant's ’s assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;leasehold.
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectTenant;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business 10 calendar days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant's creditors, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs Paragraph 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;.
(hg) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 2324, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(ih) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 76 above;
(ji) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) other Paragraphs or (m) above or any other subparagraphs of this Paragraph 2425, which shall be governed by such other Paragraphs), which failure continues for ten (10) calendar days after written notice thereof from Landlord to Tenant, provided thatTenant PROVIDED THAT, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as unless Tenant fails thereafter diligently and continuously prosecutes to prosecute the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;completion; and
(kj) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (35) business calendar days after written notice thereof for any three (3) months (consecutive or nonconsecutivenon-consecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic delinquencyDelinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;. Tenant agrees that any notice given by Landlord pursuant to Paragraph 25(b), (i) or (j) above shall satisfy the requirements for notice under California Code of Civil Procedure Section 1161, and Landlord shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding.
Appears in 1 contract
Tenant’s Default. The occurrence of A “Default” under this Lease by Tenant shall exist if any one of the following events shall constitute an event occurs (taking into account the expiration of default on the part of Tenant ("DEFAULT"notice and cure periods provided for below):
(a) The vacation or abandonment of the Premises by 24.1.1 If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Base Rent, Additional Rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within five (35) business days after written notice from Landlord that such payment was due, but was not paid as of the due date (provided, however, if Landlord has delivered two (2) such notices to Tenant within the prior twelve (12) month period, any subsequent failure to pay Base Rent, Additional Rent or any other sum required to be paid to Landlord hereunder on or before the due date for such payment occurring shall constitute a Default by Tenant without requirement of such five (5) day notice and opportunity to cure, but in the event a full year elapses between such failures then Tenant shall again have the right to such cure period), or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money to Landlord as set forth in Section 24.11 above, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period, provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in Default if it commences such performance promptly after its receipt of Landlord’s written notice and diligently thereafter prosecutes the same to completion, provided that no such grace period to be permitted in the event of any one or more of the following: (i) the Default relates to the maintenance of insurance obligations, (ii) the Default relates to the assignment and subletting provisions, (iii) the Default relates to a violation of Section 5.2 of this Lease, (iv) the Default is due;of a nature as set forth in Section 24.1.3, in which event the periods set forth therein shall control, or Section 24.1.4, in which event there shall be no applicable cure period, or (v) there exists a reasonable possibility of danger to the health or safety of the Landlord, the Tenant, Tenant’s invitees, or any other occupants of, or visitors to, the Building, or
24.1.3 lf Tenant shall (ci) A general make an assignment by Tenant for the benefit of creditors;
, (dii) The filing of acquiesce in a voluntary petition in bankruptcy by Tenantany court in any bankruptcy, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the filing appointment of an involuntary petition by the creditors any trustee, receiver or liquidator of Tenant, said involuntary petition remaining undischarged for a period Tenant and of sixty (60) days;
(e) Receivership, attachment, all or other judicial seizure of substantially all of Tenant's assets on ’s property, (iv) file a petition seeking an order for relief under the PremisesBankruptcy Code, such attachment as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other seizure remaining undismissed statute or undischarged law for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust same or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreementsimilar relief, or lease amendment within (v) fail to win the time periods and in the manner required by Paragraphs 30 dismissal, discontinuation or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance vacating of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure involuntary bankruptcy proceeding within sixty (60) days after such proceeding is initiated, or
24.1.4 If Tenant shall have abandoned the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, Premises or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three material (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquencyi.e., in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;excess of 70%) portion thereof.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occur:
26.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies sum required to be paid hereunder when due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days; or
26.1.2 If Tenant shall have failed to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant shall have failed to cure such breach within thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite period; provided, however, that where such failure could not reasonable diligencehe cured within the thirty (30) period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion; or
26.1.3 If permitted by law, Tenant assigns its assets for the benefit of its creditors; or
26.1.4 If permitted by law, the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and actually completes Tenant fails to obtain a return or release of such cure Personal Property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
26.1.5 If permitted by law, a court shall make or enter any decree or order other than under the giving bankruptcy laws of the aforesaid written notice;
(k) Chronic delinquency by United States adjudging Tenant in the payment of Rent, or any other periodic payments required to be paid by insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant under this Lease. "CHRONIC DELINQUENCY" and such decree or order shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof have continued for any three (3) months (consecutive or nonconsecutive) during any period of twelve thirty (1230) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days,
Appears in 1 contract
Sources: Lease Extension and Modification Agreement (Coast Bancorp)
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord's option, constitute an event a material default by Tenant of default on the part provisions of Tenant this Lease:
18.1 The abandonment ("DEFAULT"):
(aas statutorily defined) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any the vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) 18.2 The failure by Tenant to maintain its legal existencemake any payment of Rent, if Additional Rent or any other payment required hereunder within five (5) days after Landlord's delivery of written notice to Tenant that said payment is a corporationpast due. Tenant agrees that any such written notice delivered by Landlord, partnershipto the fullest extent permitted by Law, limited liability company, trust or other legal entityshall serve as the statutorily required notice under applicable Law;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or 18.3 The failure by Tenant to deliver to Landlord observe, perform or comply with any financial statement within of the time period and in the manner required by Paragraph 40;
(h) An assignment conditions, covenants or sublease, or attempted assignment or sublease, provisions of this Lease or the Premises by Tenant contrary (except failure to the provision make any payment of Paragraph 23, unless Rent and/or Additional Rent) and such assignment or sublease failure is expressly conditioned upon Tenant having received Landlord's consent thereto;
not cured within (i) Failure thirty (30) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures other than with respect to restore the Security Deposit to the amount and within the time period provided (a) Hazardous Materials (defined in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (bSection 27 hereof), (lb) Tenant making the repairs, maintenance and replacements required under the provisions of Section 11.1 hereof, or (mc) above or any other subparagraphs the timely delivery by Tenant of this Paragraph 24a subordination, which shall be governed by such other Paragraphsnon-disturbance and attornment agreement (an "SNDA"), which failure continues for a counterpart of a fully executed Transfer document and a consent thereto (collectively, the "Transfer Documents"), an estoppel certificate and insurance certificates, (ii) ten (10) days after of the date on which Landlord delivers written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure of such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligenceto Tenant for all failures in any way related to Hazardous Materials or Tenant failing to timely make the repairs, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;maintenance or
Appears in 1 contract
Sources: Lease Agreement (Abaxis Inc)
Tenant’s Default. The occurrence of any one or more of the following events shall constitute an event of a default on the part of Tenant ("DEFAULT"):under this Lease by Tenant:
(a) The vacation or the abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, ▇▇▇▇▇▇ as defined in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectCalifornia Civil Code Section 1951;
(b) Failure the failure by Tenant to pay make any installment payment of Rent or any other monies due and payable payment required to be made by Tenant hereunder, said failure continuing for a period of three within ten (310) business days after the same is due▇▇▇▇▇▇'s receipt of written notice from Landlord that such payment was not received;
(c) A the failure by Tenant to observe or perform any of the express or implied covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in section (a) or (b) above, where such failure shall continue for a period of thirty (30) days after ▇▇▇▇▇▇'s receipt of written notice specifying in detail Tenant's failure to perform thereof from Landlord to Tenant; provided, however, that if the nature of Tenant's default is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant shall commence such cure within said thirty (30) day period and thereafter diligently prosecute such cure to completion; and
(d) the making by Tenant of any general assignment by Tenant for the benefit of creditors;
, (dii) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary petition to have Tenant adjudged a bankrupt or involuntary, a petition for reorganization, reorganization or arrangement under any law relating to bankruptcy (unless in the filing case of an involuntary a petition by filed against the creditors of Tenant, said involuntary petition remaining undischarged for a period of Tenant the same is dismissed within sixty (60) days;
), (eiii) Receivershipthe appointment of a trustee or receiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, where possession is not restored to Tenant within sixty (60) days, or (iv) the attachment, execution or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or located at the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default interest in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by Lease where such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure canseizure is not be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure discharged within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days.
Appears in 1 contract
Sources: Lease (Ufp Technologies Inc)
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute occur (each is called an event "Event of default on Default"): Tenant fails to pay the part of Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant Rent payable hereunder, as and when due, for a period of ten five (105) consecutive days or after Notice by Landlord; provided, however, the Notice given hereunder shall be in lieu of, and not in addition to, any vacation or abandonment notice required under Section 1161, et seq., of the Premises by California Code of Civil Procedure; Tenant which would cause any insurance policy attempts to make or suffers to be invalidated made any transfer, assignment or subletting, except as permitted in Article XIV hereof; Any of Tenant's rights under this Lease are sold or otherwise lapse, in each transferred by or under court order or legal process or otherwise or if any of the foregoing cases irrespective of whether or not Tenant is then actions described in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing Section 15.2 are taken by or against Tenant of a petition, voluntary or involuntary, any Guarantor; The Premises are used for reorganization, any purpose other than as permitted pursuant to Article V; Tenant vacates or abandons the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, Premises or other judicial seizure of substantially all of Tenant's assets on fails to continuously and uninterruptedly conduct its business in the Premises, such attachment ; Any representation or other seizure remaining undismissed warranty given by Tenant under or undischarged for a period in connection with this Lease proves to be materially false or misleading; Tenant fails to timely comply with the provisions of sixty (60i) Section 3.2 ("Term and Commencement") within five (5) days after the levy Notice thereof;
, (fii) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
Article VI (g"Hazardous Materials") Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods set forth therein, (iii) Article XI (Indemnity and in the manner required by Paragraphs 30 or 31 or 42Insurance) within five (5) days after Notice thereof, and/or failure by Tenant to deliver to Landlord any financial statement (iv) Article XIV ("Assignment and Subletting") within five (5) days after Notice thereof, (v) Article XVI ("Subordination; Estoppel Certificate; Financials") within the time period and in the manner required by Paragraph 40;
periods set forth therein, (hvi) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
Section 19.2 (i"Holding Over") Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
periods set forth therein, or (jvii) Failure in Section 21.5 ("Modifications for Mortgagees") within the performance of time periods set forth therein; or Tenant fails to observe, keep, perform or cure within fifteen (15) days after Notice by Landlord any of Tenant's the other terms, covenants, agreements or obligations hereunder (except conditions contained in this Lease or those failures specified as events of Default set forth in subparagraphs (b), (l) or (m) above or any other subparagraphs agreements or rules or regulations which Tenant is obligated to observe or perform. The Notice required by this Subparagraph 15.1(h) shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure. No Notice given under this Section 15.1 shall be deemed a forfeiture or a termination of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Lease unless Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant elects in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;Notice.
Appears in 1 contract
Sources: Office Lease (8x8 Inc /De/)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist ---------------- if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation If Tenant fails to pay Rent or abandonment of the Premises by Tenant for a period of any other sum required to be paid hereunder within ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same date such Rent or other sum is due;; or
(cii) A general assignment by If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same to completion; or
(iii) If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by Tenant, the filing by Tenant return or release of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationsuch Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier, or
(v) If Tenant abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Sublease Agreement (Fogdog Inc)
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord's option, constitute an event a material default by Tenant of default on the part provisions of Tenant this Lease:
18.1 The abandonment ("DEFAULT"):
(aas statutorily defined) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any the vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure 18.2 The failure by Tenant to pay make any installment payment of Rent, Additional Rent or any other monies due payment required hereunder within five (5) days after Landlord's delivery of written notice to Tenant that said payment is past due. Tenant agrees that any such written notice delivered by Landlord, to the fullest extent permitted by Law, shall serve as the statutorily required notice under applicable Law;
18.3 The failure by Tenant to observe, perform or comply with any of the conditions, covenants or provisions of this Lease (except failure to make any payment of Rent and/or Additional Rent) and payable hereundersuch failure is not cured within (i) thirty (30) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures other than with respect to (a) Hazardous Materials (defined in Section 27 hereof), said (b) Tenant making the repairs, maintenance and replacements required under the provisions of Section 11.1 hereof, or (c) the timely delivery by Tenant of a subordination, non-disturbance and attornment agreement (an "SNDA"), a counterpart of a fully executed Transfer document and a consent thereto (collectively, the "Transfer Documents"), an estoppel certificate and insurance certificates, (ii) ten (10) days of the date on which Landlord delivers written notice of such failure continuing to Tenant for all failures in any way related to Hazardous Materials or Tenant failing to timely make the repairs, maintenance or replacements required by Section 11.1, (iii) the time period, if any, specified in the applicable sections of this Lease with respect to subordination, assignment and sublease, estoppel certificates and insurance, and (iv) Tenant's use of the Premises which will increase the existing rate of or affect any policy of fire or other insurance upon the Building or any of its contents, or cause a cancellation of any insurance policy as required by Section 9.2 herein. However, Tenant shall not be in default of its obligations hereunder if such failure (other than any failure of Tenant to timely and properly make the repairs, maintenance, or replacements required by Section 11.1, or timely deliver an SNDA, the Transfer Documents, an estoppel certificate or insurance certificates, for which no additional cure period shall be given to Tenant) cannot reasonably be cured within such thirty (30) or ten (10) day period, as applicable, and Tenant promptly commences, and thereafter diligently proceeds with same to completion, all actions necessary to cure such failure as soon as is reasonably possible, but in no event shall the completion of three such cure be later than sixty (360) business days after the same is due;date on which Landlord delivers to Tenant written notice of such failure, unless Landlord, acting reasonably and in good faith, otherwise expressly agrees in writing to a longer period of time based upon the circumstances relating to such failure as well as the nature of the failure and the nature of the actions necessary to cure such failure; or
(c) A 18.4 The making of a general assignment by Tenant for the benefit of creditors;
(d) The , the filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors any of Tenant's creditors seeking the rehabilitation, said liquidation, or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors and, in the case of an involuntary petition remaining undischarged for a period of action, the failure to remove or discharge the same within sixty (60) days;
(e) Receivershipdays of such filing, the appointment of a receiver or other custodian to take possession of substantially all of Tenant's assets or this leasehold, Tenant's insolvency or inability to pay Tenant's debts or failure generally to pay Tenant's debts when due, any court entering a decree or order directing the winding up or liquidation of Tenant or of substantially all of Tenant's assets, Tenant taking any action toward the dissolution or winding up of Tenant's affairs, the cessation or suspension of Tenant's use of the Premises, or the attachment, execution or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;leasehold.
Appears in 1 contract
Sources: Lease Agreement (Abaxis Inc)
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of a default on the part of by Tenant ("DEFAULT"):
under this Lease: (a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or Tenant's failure to pay when due any vacation or abandonment of the Premises by Tenant which would cause any insurance policy Rent required to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default paid under this Lease. Tenant agrees to notice and service of notice as provided Lease if the failure continues for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after written notice of the same is due;
failure from Landlord to Tenant; (b) Tenant's failure to provide any instrument or assurance as required by Section 21.2 or estoppel certificate as required by Section 20.1 if the failure continues for five (5) days after written notice of the failure from Landlord to Tenant; (c) A Tenant's failure to perform any other obligation under this Lease if the failure continues for fifteen (15) days after written notice of the failure from Landlord to Tenant; (d) Tenant's abandonment of the Premises, including Tenant's absence from the Premises for three (3) consecutive days (excluding Saturdays, Sundays, and California legal holidays) while in default of any provision of this Lease; (e) to the extent permitted by law: (1) a general assignment by Tenant or any guarantor of the Lease for the benefit of creditors;
; (d2) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationTenant, or any guarantor, of any proceeding under an insolvency or bankruptcy law, unless (in the filing case of an involuntary petition by proceeding) the creditors of Tenant, said involuntary petition remaining undischarged for a period of proceeding is dismissed within sixty (60) days;
; (e3) Receivershipthe appointment of a trustee or receiver to take possession of all or substantially all the assets of Tenant or any guarantor, attachment, unless possession is unconditionally restored to Tenant or that guarantor within thirty (30) days and the trusteeship or receivership is dissolved; (4) any execution or other judicial judicially authorized seizure of all or substantially all the assets of Tenant's assets Tenant located on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided interest in this Lease, at Landlord's option, Landlord shall have unless that seizure is discharged within thirty (30) days; (f) the right to require that Rent be paid by Tenant quarterly, in advance;committing of waste on the Premises; or
Appears in 1 contract
Tenant’s Default. The occurrence of A “Default” under this Lease by Tenant shall exist if any one of the following events shall constitute an event occurs (taking into account the expiration of default on the part of Tenant ("DEFAULT"notice and cure periods provided for below):
(a) The vacation or abandonment of the Premises by 24.1.1 If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Base Rent, Additional Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant sum required to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment be paid hereunder within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenantthat such payment was due, provided thatbut was not paid as of the due date (provided, however, if Landlord has delivered two (2) such notices to Tenant has exercised reasonable diligence within the prior twelve (12) month period, any subsequent failure to cure pay Base Rent, Additional Rent or any other sum required to be paid to Landlord hereunder on or before the due date for such failure and such failure cannot be cured within payment occurring shall constitute a Default by Tenant without requirement of such ten (10) day period despite reasonable diligencenotice and opportunity to cure; but in the event a full year elapses between such failures then Tenant shall again have the right to such cure period); or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money to Landlord as set forth in Section 24.1.1 above, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period; provided, however, that where such failure could not Deed of Lease Alliance Home Funding, LLC Page 27 of 63 reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant Default if it commences such performance promptly after its receipt of Landlord’s written notice and diligently thereafter diligently and continuously prosecutes the same to completion; provided that no such grace period to be permitted in the event of any one or more of the following: (A) the Default relates to the maintenance of insurance obligations, (B) the Default relates to the assignment and subletting provisions, (C) the Default relates to a violation of Section 5.2 of this Lease, (D) the Default is of a nature as set forth in Section 24.1.3, in which event the periods set forth therein shall control, or Section 24.1.4, in which event there shall be no applicable cure period, or (E) there exists a reasonable possibility of danger to completion the health or safety of the Landlord, the Tenant, Tenant’s invitees, or any other occupants of, or visitors to, the Building; or
24.1.3 If Tenant shall (A) make an assignment for the benefit of creditors, (B) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (C) seek, consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant and actually completes such cure of all or substantially all of Tenant’s property, (D) file a petition seeking an order for relief under the Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (E) fail to win the dismissal, discontinuation or vacating of any involuntary bankruptcy proceeding within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;such proceeding is initiated; or
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of a default on the part of by Tenant ("DEFAULT"):under this Lease:
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure Tenant's failure to pay when due any installment of Rent or any other monies amount required to be paid under this Lease on or before the date on which the same is due and payable hereunder, said and such failure continuing continues for a period of three five (35) business days after the same is due;
(cb) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premisesfailure to perform or observe any other term, such attachment condition, covenant or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and obligation contained in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or if the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten fifteen (1015) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure unless such failure and default shall be of such failure a nature that the same cannot be cured within such ten fifteen (1015) day period despite reasonable diligence, in which event Tenant's failure shall constitute a default unless Tenant shall not be in default under this subparagraph so long as Tenant thereafter undertakes to cure the failure within fifteen (15) days after such notice and diligently and continuously prosecutes attempts to complete the cure as soon as reasonably possible;
(c) To the extent permitted by law:
(1) A general assignment by Tenant or any guarantor of the Lease for the benefit of creditors;
(2) The filing by or against Tenant, or any guarantor, of any proceeding under an insolvency or bankruptcy law, unless (in the case of an involuntary proceeding) the proceeding is dismissed within sixty (60) days;
(3) The appointment of a trustee or receiver to completion and actually completes such cure take possession of all or substantially all the assets of Tenant or any guarantor, unless possession is unconditionally restored to Tenant or that guarantor within sixty (60) days after and the giving of the aforesaid written noticetrusteeship or receivership is dissolved;
(k4) Chronic delinquency by Any execution or other judicially authorized seizure of all or substantially all the assets of Tenant in located on the payment of RentPremises, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to LandlordTenant's other remedies for Default provided interest in this Lease, at Landlord's option, Landlord shall have the right to require unless that Rent be paid by Tenant quarterly, in advance;seizure is discharged within sixty (60) days.
Appears in 1 contract
Tenant’s Default. The occurrence of any one or more of the following ---------------- events shall constitute an event a default and breach of default on the part of Tenant ("DEFAULT"):this Lease by Tenant:
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant make any payment of Rent or any other payment required hereunder within five (5) days from the date the same is a corporation, partnership, limited liability company, trust or other legal entitydue and payable;
(gb) Failure The failure of Tenant to execute and deliver to Landlord observe, perform or comply with any estoppel certificate, subordination agreement, of the conditions or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, provisions of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23for a period, unless such assignment or sublease a longer period is expressly conditioned upon Tenant having received Landlord's consent thereto;
otherwise provided herein, of thirty (i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord to Tenantnotice, provided that, or if Tenant has exercised reasonable diligence to cure such failure and such failure default cannot be cured within that time, then such ten additional time as may be reasonably necessary if within such thirty (1030) day period despite reasonable diligencedays Tenant has commenced and is diligently pursuing such activities as are necessary to cure the default; and
(c) Tenant becomes the subject of any bankruptcy, reorganization or insolvency proceeding, whether voluntary or involuntary, and, in the case of an involuntary bankruptcy proceeding, Tenant shall not fails to cause the same to be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure dismissed within sixty (60) days after the giving following that date of the aforesaid written notice;
(k) Chronic delinquency by filing of such bank- ruptcy. Any notice from Landlord to Tenant described in this Section 19 shall, in the payment sole discretion of RentLandlord, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within constitute a three (3) business days after written day notice thereof for pursuant to California Code of Civil Procedure section 1161 or any three (3) months (consecutive or nonconsecutive) during successor statute. With respect to any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided "default" by Tenant referenced in this Lease, at Landlord's optionthe term "default" as used in such context shall mean any of the events described in subsections (a), Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;(b) and/or (c) of this Section 19.
Appears in 1 contract
Sources: Lease Agreement (Ise Labs Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall ---------------- exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies sum required to be paid hereunder when due and payable hereunder, said failure continuing for a period of three Tenant fails to cure such breach within five (35) business days after written notice from Landlord that such Rent or other sum is past due; provided, however, that such notice shall be in lieu of, and not in addition to, any notice required under Section 1161 of the same is dueCalifornia Code of Civil Procedure regarding unlawful detainer actions;
(cii) A general assignment by If Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant fails to execute and deliver to Landlord any estoppel certificateLandlord, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after Landlord's written notice thereof from Landlord request therefor, any subordination documentation required under Paragraph 27, or any estoppel certificate required under Paragraph 31;
(iii) If Tenant fails to Tenantperform any other term, covenant or condition of this Lease except as provided thatin Paragraphs 26.A.(i) or (ii) above, if and Tenant has exercised reasonable diligence fails to cure such failure and breach within thirty (30) days after written notice from Landlord where such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written noticecompletion;
(kiv) Chronic delinquency by If Tenant in assigns its assets for the payment benefit of Rentits creditors;
(v) If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a return or release of such Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier;
(vi) If Tenant shall have abandoned the Premises and failed to pay Rent when due; or
(vii) If a court makes or enters any decree or order other periodic payments required than under the bankruptcy laws of the United States adjudging Tenant to be paid by insolvent; or approving as properly filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant under this Lease. "CHRONIC DELINQUENCY" and such decree or order shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof have continued for any three (3) months (consecutive or nonconsecutive) during any a period of twelve thirty (1230) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;days.
Appears in 1 contract
Sources: Lease (Artisan Components Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
24.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent Base Rent, additional rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within five (35) business days after written notice from Landlord that such payment was due, but was not paid as of the due date (provided, however, if Landlord has delivered two (2) such notices due under this Lease to Tenant in any twelve (12) month period, or five (5) such notices over the Term of this Lease, whichever first occurs, then any subsequent failure to pay Base Rent, additional rent or any other sum required to be paid to Landlord hereunder on or before the due date for such payment shall constitute a default by Tenant without requirement of such five (5) day notice and opportunity to cure); or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money to Landlord as set forth in Section 24.1.1 above, and Tenant fails to cure such breach within fifteen (15) days after written notice from Landlord where such breach could reasonably be cured within such fifteen (15) day period; provided, however, that where such failure could not reasonably be cured within the fifteen (15) day period, Tenant shall not be considered in default if it commences such performance within the fifteen (15) day period and diligently thereafter prosecutes the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premisesto completion, such attachment or other seizure remaining undismissed or undischarged for grace period not to exceed a period maximum of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord aggregate. If any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, provisions of this Lease calls for a shorter or different grace period than that set forth above, then such other provision shall control over this provision. The foregoing notice and cure period notwithstanding, Landlord may exercise its self-help rights hereunder (i.e., Landlord’s right to perform any obligation of Tenant which Tenant has failed to perform hereunder) without any prior notice or upon such shorter notice as may be reasonable under the Premises by Tenant contrary circumstances in the event of any one or more of the following circumstances is present: (i) there exists a reasonable risk of prosecution of Landlord unless such obligation is performed sooner than the stated cure period, (ii) there exists an imminent possibility of danger to the provision health or safety of Paragraph 23the Landlord, the Tenant, Tenant’s invitees, or any other occupants of, or visitors to, the Building, unless such assignment obligation is performed sooner than the stated cure period, and/or (iii) the Tenant has failed to obtain insurance required by this Lease, or sublease is expressly conditioned upon such insurance has been canceled by the insurer without being timely replaced by Tenant, as required herein.
24.1.3 If Tenant having received Landlord's consent thereto;
or any guarantor of this Lease shall (i) Failure make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receivor liquidator of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance or of any guarantor of this Lease and of all or any part of Tenant's covenants, agreements ’s or obligations hereunder (except those failures specified as events of Default in subparagraphs (b)such guarantor’s property, (liv) file a petition seeking an order for relief under the Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (mv) above fail to win the dismissal, discontinuation or vacating of any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure involuntary bankruptcy proceeding within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;such proceeding is initiated.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
24.1.1 If Tenant ("DEFAULT"):
(a) The vacation fails to pay Rent, additional rent or abandonment of the Premises by Tenant for a period of any other sum required to be paid hereunder within ten (10) consecutive business days or any vacation or abandonment after written notice from Landlord that such payment was due, but was not paid as of the Premises by due date (provided, however, if Landlord has delivered two (2) such notices to Tenant which would cause in any insurance policy to be invalidated twelve (12) month period, or otherwise lapse, in each four (4) such notices over the Term of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives , whichever first occurs, then any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure subsequent failure to pay any installment of Rent Base Rent, additional rent or any other monies sum required to be paid to Landlord hereunder on or before the due and payable hereunder, said failure continuing date for such payment shall constitute a period default by Tenant without requirement of three such ten (310) business day notice and opportunity to cure); or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money to Landlord as set forth in Section 24.1.1 above, and Tenant fails to cure such breach within fifteen (15) days after written notice from Landlord where such breach could reasonably be cured within such fifteen (15) day period; provided, however, that where such failure could not reasonably be cured within the fifteen (15) day period, Tenant shall not be considered in default if it commences such performance within the fifteen (15) day period and diligently thereafter prosecutes the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premisesto completion, such attachment or other seizure remaining undismissed or undischarged for grace period not to exceed a period maximum of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord aggregate. If any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, provisions of this Lease calls for a shorter or different grace period than that set forth above, then such other provision shall control over this provision. The foregoing notice and cure period notwithstanding, Landlord may exercise its self-help rights hereunder (i.e., Landlord's right to perform any obligation of Tenant which Tenant has failed to perform hereunder) without any prior notice or upon such shorter notice as may be reasonable under the Premises by Tenant contrary circumstances in the event of any one or more of the following circumstances is present: (i) there exists a reasonable risk of prosecution of the Landlord unless such obligation is performed sooner than the stated cure period, (ii) there exists an imminent possibility of danger to the provision health or safety of Paragraph 23the Landlord, the Tenant, Tenant's invitees, or any other occupants of, or visitors to, the Building, unless such assignment obligation is performed sooner than the stated cure period, and/or (iii) the Tenant has failed to obtain insurance required by this Lease, or sublease is expressly conditioned upon such insurance has been canceled by the insurer without being timely replaced by Tenant, as required herein.
24.1.3 If Tenant having received Landlord's consent thereto;
or any guarantor of this Lease shall (i) Failure make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance or of any guarantor of this Lease and of all or any part of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b)such guarantor's property, (liv) file a petition seeking an order for relief under the Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (mv) above fail to win the dismissal, discontinuation or vacating of any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure involuntary bankruptcy proceeding within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;such proceeding is initiated.
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event a material default and breach of default on the part of Tenant ("DEFAULT"):
(this Lease by Tenant: a) Any failure by Tenant to pay the rental or to make any other payment required to be made by Tenant hereunder provided however, that Tenant may cure such default by payment to Landlord of the Base Monthly Rent or other sum due within ten (10) days after receipt by Tenant of written notice specifying Landlord has failed to receive the amount in question; b) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(Tenant; c) A failure by Tenant to observe and materially perform any other provision of this Lease to be observed or performed by Tenant, where such failure continues for thirty (30) days after written notice thereof by Landlord to Tenant; provided, however, that if the nature of such default is such that the same cannot reasonably be cured within such thirty (30) day period Tenant shall not be deemed to be in default if Tenant shall within such period commence such cure and thereafter diligently prosecute the same to completion; d) The making by Tenant of any general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, ; the filing by or against Tenant of a petitionpetition to have Tenant adjudged a bankrupt or of a petition for reorganization or arrangement under any law relating to bankruptcy (unless, voluntary in the case of a petition filed against Tenant, the same is dismissed after the filing); the appointment of a trustee or involuntaryreceiver to take possession of substantially all of Tenant's assets located at the Premises or of Tenant's interest in this Lease, for reorganization, where possession is not restored to Tenant within thirty (30) days; or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, execution or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or located at the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided interest in this Lease, at Landlord's option, Landlord shall have where such seizure is not discharged within thirty (30) days. The notice requirements set forth herein are in lieu of and not in addition to the right to require that Rent be paid notices required by Tenant quarterly, in advance;California Code of Civil Procedure Section 1161.
Appears in 1 contract
Sources: Lease Agreement (Visx Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation or abandonment of the Premises by If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay when due any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of sum required to be paid hereunder within three (3) business days from the date of Landlord's written notice to Tenant (which notice shall constitute the notice required under California Code 54 of Civil Procedure Section 1161) that such Rent or other sum is due, including, without limitation, any Tenant Improvement costs payable by Tenant under Exhibit C; or
(ii) If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same is due;to completion; or
(ciii) A general assignment by If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by return or release of such Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization's Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant vacates or abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease Agreement (Excite Inc)
Tenant’s Default. The occurrence At the option of Landlord, a default under this Lease by Tenant shall exist if any one of the following events shall constitute occur (each is called an event "Event of default on the part of Tenant ("DEFAULTDefault"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of the Rent or any other monies due and payable hereunder, said failure continuing as and when due, for a period of three (3) business days after Notice by Landlord; provided, however, the same is dueNotice given hereunder shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure;
(b) Tenant attempts to make or suffers to be made any transfer, assignment or subletting, except as provided in Article XIV hereof;
(c) A general assignment Any of Tenant's rights under this Lease are sold or otherwise transferred by or under court order or legal process or otherwise or if any of the actions described in Section 15.2 are taken by or against Tenant for the benefit of creditorsor any Guarantor;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition Premises are used for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) daysany purpose other than as permitted pursuant to Article V;
(e) Receivership, attachment, Tenant vacates or other judicial seizure of substantially all of Tenant's assets on abandons the Premises, such attachment Premises or other seizure remaining undismissed or undischarged for a period of sixty (60) days after fails to continuously and uninterruptedly conduct its business in the levy thereof;Premises and thereafter fails to pay rent:
(f) The failure Any representation or warranty given by Tenant under or in connection with this Lease proves to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust be materially false or other legal entitymisleading;
(g) Failure Tenant fails to timely comply with the provisions of Tenant to execute Article VI ("Hazardous Materials"), ArticleXIV ("Assignment and deliver to Landlord any estoppel certificateSubletting"), subordination agreementArticle XVI ("Subordination; Estoppel Certificate; Financials"), Section 21.5 ("Modifications for Mortgagees") or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;Section 21.19 ("Authority"); or
(h) An assignment Tenant fails to observe, keep, perform or sublease, or attempted assignment or sublease, of this Lease or the Premises cure within thirty (30) days after Notice by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of Landlord any of Tenant's the other terms, covenants, agreements or obligations hereunder (except conditions contained in this Lease or those failures specified as events of Default set forth in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, agreements or rules or regulations which shall be governed by Tenant is obligated to observe or perform. In the event such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure candefault reasonably could not be cured or corrected within such ten thirty (1030) day period despite reasonable diligenceperiod, but is reasonably susceptible to cure or correction, then Tenant shall not be in default hereunder if Tenant commences the cure or correction of such default within such default within such thirty(30) day period and diligently prosecutes the same to completion after commencing such cure or correction. The Notice required by his subparagraph15.1(h) shall be in lieu of, and not in addition to, any notice required under Section 1161, et seq., of the California Code of Civil Procedure. Notices given under this subparagraph Section 15.1 shall specify the alleged default and shall demand that Tenant perform the provisions of this Lease or pay the Rent that is in arrears, as the case may be, within the applicable period of time, or quit the Premises. No such Notice shall be deemed a forfeiture or a termination of this Lease unless Landlord so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant elects in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;Notice.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):occurs:
(ai) The vacation If Tenant fails to pay Rent or abandonment of the Premises by Tenant for a period of any other sum required to be paid hereunder within ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same date such Rent or other sum is due;; or
(cii) A general assignment by If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such 30-day period; provided, however, that where such failure could not reasonably be cured within the 30-day period, that Tenant shall not be in default if it commences such performance within the 30-day period and diligently thereafter prosecutes the same to completion; or
(iii) If Tenant assigns its assets for the benefit of its creditors;; or
(div) The filing If the sequestration or attachment of or execution on any material part of Tenant's Personal Property essential to the conduct of Tenant's business occurs, and Tenant fails to obtain a voluntary petition in bankruptcy by Tenant, the filing by Tenant return or release of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganizationsuch Personal Property within thirty (30) days thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
(v) If Tenant abandons the filing Premises; or
(vi) If a court makes or enters any decree or order other than under the bankruptcy laws of an involuntary the United States adjudging Tenant to be insolvent; or approving as properly filed a petition by the creditors seeking reorganization of Tenant, said involuntary petition remaining undischarged ; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease (Ampex Corp /De/)
Tenant’s Default. The occurrence of any one or more of the following events (each, an “Event of Default”) shall constitute an event a breach of default on the part of Tenant ("DEFAULT"):this Lease by Tenant:
(a) The vacation Tenant fails to pay any Rent when due, and such failure continues for five (5) days or abandonment more following Landlord’s notice of such failure.
(b) Tenant fails to perform its obligations under Section 11.9 (Relocation), Section 16 (Subordination), Section 17 (Assignment and Sublease), Section 19 (Estoppel Certificate) or Section 28 (Hazardous Substances).
(c) Tenant vacates or abandons the Premises.
(d) Tenant fails to perform any obligation to Landlord under this Lease other than those described in Sections 12.1(a), 12.1(b) or 12.1(c) above, and such failure continues for fifteen (15) days after written notice from Landlord or Landlord’s agent, except that if Tenant begins to cure its failure within the fifteen (15) day period but cannot reasonably complete its cure within such period, then, so long as Tenant continues to diligently attempt to cure its failure, the fifteen (15) day period shall be extended to ninety (90) days, or such lesser period as is reasonably necessary to complete the cure.
(e) One of the Premises by following credit defaults occurs:
(i) Tenant (or any guarantor of Tenant’s obligations hereunder) commences any proceeding under any law relating to bankruptcy, insolvency, reorganization or relief of debts, or seeks appointment of a receiver, trustee, custodian or other similar official for the Tenant (or the guarantor) or for any substantial part of its property, or any such proceeding is commenced against Tenant (or the guarantor) and either remains undismissed for a period of ten thirty (1030) consecutive days or any vacation results in the entry of an order for relief against Tenant (or abandonment of the Premises by Tenant guarantor) which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or is not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effectfully stayed within seven (7) days after entry;
(bii) Failure Tenant (or any guarantor of Tenant’s obligations hereunder) becomes insolvent or bankrupt, does not generally pay its debts as they become due, or admits in writing its inability to pay any installment of Rent its debts, or any other monies due and payable hereunder, said failure continuing for makes a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(diii) The filing Any third party obtains a levy or attachment under process of a voluntary petition law against Tenant’s leasehold interest. Tenant acknowledges and agrees that, notwithstanding the foregoing provisions of this Section 12, Tenant shall be in bankruptcy default for purposes of Section 1161 of the California Code of Civil Procedure immediately following Tenant’s failure to perform or comply with any covenants, agreements, terms or conditions of this Lease to be performed or observed by Tenant, the filing by Tenant of a voluntary petition for an arrangementincluding, the filing by or against Tenant of a petitionwithout limitation, voluntary or involuntaryTenant’s failure to pay Rent when due, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord that any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, or any other periodic payments notices required to be paid given by Tenant Landlord under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquencySection 12 shall, in each case, be in lieu of, and not in addition to, any notice required under Section 1161 of the California Code of Civil Procedure, and shall be deemed to Landlord's other remedies for Default provided in this Leasesatisfy the requirement, at Landlord's optionif any, Landlord shall have the right that notice be given pursuant to require that Rent be paid by Tenant quarterly, in advance;such section.
Appears in 1 contract
Sources: Lease (PortalPlayer, Inc.)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occur:
19.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three sum required to be paid hereunder within five (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (605) days after the levy thereof;of when due; or
(f) 19.1.2 The failure by Tenant to maintain its legal existenceobserve or perform any of the terms, covenants, conditions or provisions of the Lease to be observed or performed by Tenant, if Tenant such failure is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment not cured within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenant, provided thatprovided, however, that if Tenant has exercised reasonable diligence to cure the nature of Tenant's default is such failure and such failure that it cannot be cured solely by payment of money and that more than then (10) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within such the ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant and thereafter diligently and continuously prosecutes the such cure to completion completion, and actually completes provided, further, that violations by Tenant of the Rules and Regulations described in Exhibit "D" shall be cured by Tenant within forty-eight (48) hours after written notice thereof from Landlord, failing which Landlord may (but need not) cure same at Tenant's sole cost; or
19.1.3 If Tenant assigns its assets for the benefit of its creditors; or
19.1.4 If the sequestration or attachment of or execution on any material part of ▇▇▇▇▇▇'s personal property essential to the conduct of ▇▇▇▇▇▇'s business occurs, and Tenant fails to obtain a return or release of such cure personal property within sixty thirty (6030) days after thereafter, or prior to sale pursuant to such sequestration, attachment or levy, whichever is earlier; or
19.1.5 If a court shall make or enter any decree or order other than under the giving bankruptcy laws of the aforesaid written notice;United States adjudging Tenant to be insolvent; or approving as property filed a petition seeking reorganization of Tenant; or directing the winding up or liquidation of Tenant and such decree or order shall have continued for a period of thirty (30) days; or
(k) 19.1.6 Chronic delinquency by Tenant in the payment of Rent, Rent or any other periodic payments required to be paid by Tenant under this Leaselease shall constitute a separate default. "CHRONIC DELINQUENCYChronic delinquency" shall mean the failure by Tenant to pay Rent, the Rent or any other periodic payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof when due for any three (3) months (consecutive or nonconsecutive) during in any period of twelve (12) monthsmonth period. In the event of a Chronic chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Tenant to pay Rent be paid by Tenant quarterly, in advance;.
Appears in 1 contract
Sources: Lease Agreement (Utstarcom Inc)
Tenant’s Default. The occurrence (a) If at any time subsequent to the date of this Lease any one or more of the following events (herein sometimes called an “Event of Default”) shall constitute an event of default on the part of Tenant ("DEFAULT"):occur:
(ai) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure shall fail to pay any installment of the Annual Fixed Rent, Additional Rent or other charges for which provision is made herein on or before the date on which the same become due and payable, and the same continues for three (3) days after notice from Landlord thereof; or
(ii) Landlord having rightfully given the notice specified in subdivision (i) above twice in any calendar year, Tenant shall thereafter in the same calendar year fail to pay the Annual Fixed Rent, Additional Rent or any other monies monetary amount due under this Lease on or before the date on which the same become due and payable hereunderpayable; or
(iii) Tenant shall assign its interest in this Lease or sublet any portion of the Premises in violation of the requirements of Sections 5.6 through 5.6.6 of this Lease; or
(iv) Tenant shall fail to perform or observe some term or condition of this Lease which, said because of its character, would immediately jeopardize Landlord’s interest (such as, but without limitation, failure continuing to maintain general liability insurance, or the employment of labor and contractors within the Premises which interfere with Landlord’s work, in violation of Exhibit B-1), and such failure continues for a period of three five (35) business days after notice from Landlord to Tenant thereof; or
(v) Tenant shall neglect or fail to perform or observe any other covenant herein contained on Tenant’s part to be performed or observed and Tenant shall fail to remedy the same within thirty (30) days after notice to Tenant specifying such neglect or failure, or if such neglect or failure is due;of such a nature that Tenant cannot reasonably remedy the same within such thirty (30) day period, Tenant shall fail to commence promptly to remedy the same and to prosecute such remedy to completion with diligence and continuity; or
(cvi) A general Tenant’s leasehold interest in the Premises shall be taken on execution or by other process of law directed against Tenant; or
(vii) Tenant shall make an assignment by Tenant for the benefit of creditors;
(d) The filing of creditors or shall file a voluntary petition in bankruptcy by Tenantor shall be adjudicated bankrupt or insolvent, or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation for the filing by relief of debtors, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of a voluntary all or any substantial part of its properties, or shall admit in writing its inability to pay its debts generally as they become due; or
(viii) A petition shall be filed against Tenant in bankruptcy or under any other law seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future Federal, State or other statute, law or regulation and shall remain undismissed or unstayed for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period aggregate of sixty (60) days after the levy thereof;
(fwhether or not consecutive), or if any debtor in possession (whether or not Tenant) The failure by Tenant to maintain its legal existencetrustee, if Tenant is a corporation, partnership, limited liability company, trust receiver or other legal entity;
(g) Failure liquidator of Tenant to execute or of all or any substantial part of its properties or of the Premises shall be appointed without the consent or acquiescence of Tenant and deliver to Landlord any estoppel certificatesuch appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days (whether or not consecutive) then, subordination agreement, or lease amendment within the time periods and in any of said cases (notwithstanding any license of a former breach of covenant or waiver of the manner required by Paragraphs 30 benefit hereof or 31 consent in a former instance). Landlord lawfully may, immediately or 42at any time thereafter, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment without demand or sublease, or attempted assignment or sublease, of further notice terminate this Lease or the Premises by Tenant contrary notice to the provision of Paragraph 23Tenant, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for specifying a date not less than ten (10) days after written the giving of such notice thereof on which this Lease shall terminate, and this Lease shall come to an end on the date specified therein as fully and completely as if such date were the date herein originally fixed for the expiration of the Lease Term (Tenant hereby waiving any rights of redemption), and Tenant will then quit and surrender the Premises to Landlord, but Tenant shall remain liable as hereinafter provided.
(b) If this Lease shall have been terminated as provided in this Article, then Landlord may, without notice, re-enter the Premises, either by force, summary proceedings, ejectment or otherwise, and remove and dispossess Tenant and all other persons and any and all property from Landlord the same, as if this Lease had not been made, and Tenant hereby waives the service of notice of intention to re-enter or to institute legal proceedings to that end.
(c) In the event that this Lease is terminated under any of the provisions contained in Section 7.1 (a) or shall be otherwise terminated by breach of any obligation of Tenant, provided thatTenant covenants and agrees forthwith to pay and be liable for, on the days originally fixed herein for the payment thereof, amounts equal to the several installments of rent and other charges reserved as they would, under the terms of this Lease, become due if Tenant has exercised reasonable diligence to cure such failure this Lease had not been terminated or if Landlord had not entered or re-entered, as aforesaid, and such failure cannot whether the Premises be cured within such ten (10) day relet or remain vacant, in whole or in part, or for a period despite reasonable diligenceless than the remainder of the Term, and for the whole thereof, but in the event the Premises be relet by Landlord, Tenant shall be entitled to a credit in the net amount of rent and other charges received by Landlord in reletting, after deduction of all expenses incurred in reletting the Premises (including, without limitation, remodeling costs, brokerage fees and the like), and in collecting the rent in connection therewith, in the following manner: Amounts received by Landlord after reletting shall first be applied against such Landlord’s expenses, until the same are recovered, and until such recovery, Tenant shall pay, as of each day when a payment would fall due under this Lease, the amount which Tenant is obligated to pay under the terms of this Lease (Tenant’s liability prior to any such reletting and such recovery not in any way to be diminished as a result of the fact that such reletting might be for a rent higher than the rent provided for in this Lease); when and if such expenses have been completely recovered, the amounts received from reletting by Landlord as have not previously been applied shall be credited against Tenant’s obligations as of each day when a payment would fall due under this Lease, and only the net amount thereof shall be payable by Tenant. Further, amounts received by Landlord from such reletting for any period shall be credited only against obligations of Tenant allocable to such period, and shall not be credited against obligations of Tenant hereunder accruing subsequent or prior to such period; nor shall any credit of any kind be due for any period after the date when the term of this Lease is scheduled to expire according to its terms. Landlord agrees to use reasonable efforts to relet the Premises after Tenant vacates the same in default the event this Lease is terminated based upon an Event of Default by Tenant hereunder. The marketing of the Premises in a manner similar to the manner in which Landlord markets other premises within Landlord’s control within the Building shall be deemed to have satisfied Landlord’s obligation to use “reasonable efforts” hereunder. In no event shall Landlord be required to (i) solicit or entertain negotiations with any other prospective tenant for the Premises until Landlord obtains full and complete possession of the Premises (including, without limitation, the final and unappealable legal right to relet the Premises free of any claim of Tenant), (ii) relet the Premises before leasing other vacant space in the Building, or (iii) lease the Premises for a rental less than the current fair market rent then prevailing for similar office space in the Building.
(i) In the alternative, Landlord may elect, by notice given to Tenant at any time after such termination and whether or not Landlord shall have collected any damages under this subparagraph so long subsection (c) above, but as final damages and in lieu of all other damages beyond the date of such notice, to require Tenant thereafter diligently and continuously prosecutes to pay such a sum as at the cure to completion and actually completes such cure within sixty (60) days after time of the giving of such notice represents the aforesaid written notice;
amount of the excess, if any, of (ka) Chronic delinquency by Tenant in the payment discounted present value, at a discount rate of 6%, of the Annual Fixed Rent, or any Additional Rent and other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid charges which would have been payable by Tenant under this Lease within three from the date of such notice for what would be the then unexpired Lease Term if the Lease terms had been fully complied with by Tenant, over and above (3b) business days after written the discounted present value, at a discount rate of 6%, of the Annual Fixed Rent, Additional Rent and other charges that would be received by Landlord if the Premises were re- leased at the time of such notice for the remainder of the Lease Term at the fair market value (including provisions regarding periodic increases in Annual Fixed Rent and Additional Rent if such are applicable) prevailing at the time of such notice as reasonably determined by Landlord, plus all expenses which Landlord may have incurred with respect to the collection of such damages.
(ii) For the purposes of this Article, if Landlord elects to require Tenant to pay damages in accordance with the immediately preceding paragraph, the total rent shall be computed by assuming that Tenant’s share of excess taxes, Tenant’s share of excess operating costs and Tenant’s share of excess electrical costs would be, for the balance of the unexpired Term from the date of such notice, the amount thereof (if any) for the immediately preceding annual period payable by Tenant to Landlord.
(e) In case of any three Event of Default, re-entry, dispossession by summary proceedings or otherwise, Landlord may (3i) months re-let the Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may at Landlord’s option be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term of this Lease and may grant concessions, abatements or free rent to the extent that Landlord considers advisable or necessary to re-let the same and (consecutive ii) may make such alterations, repairs and decorations in the Premises as Landlord in its sole judgment considers advisable or nonconsecutive) during necessary for the purpose of reletting the Premises; and the making of such alterations, repairs and decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Landlord shall in no event be liable in any period way whatsoever for failure to re-let the Premises, or, in the event that the Premises are re-let, for failure to collect the rent under re-letting. Tenant hereby expressly waives any and all rights of twelve (12) months. In redemption granted by or under any present or future laws in the event of a Chronic delinquencyTenant being evicted or dispossessed, or in addition the event of Landlord obtaining possession of the Premises, by reason of the violation by Tenant of any of the covenants and conditions of this Lease.
(f) The specified remedies to Landlord's other which Landlord may resort hereunder are not intended to be exclusive of any remedies or means of redress to which Landlord may at any time be entitled lawfully, and Landlord may invoke any remedy (including the remedy of specific performance) allowed at law or in equity as if specific remedies were not herein provided for. Further, nothing contained in this Lease shall limit or prejudice the right of Landlord to prove for Default provided and obtain in proceedings for bankruptcy or insolvency by reason of the termination of this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at Landlord's optionthe time when, Landlord shall have and governing the right proceedings in which, the damages are to require that Rent be paid by Tenant quarterlyproved, in advance;whether or not the amount be greater, equal to, or less than the amount of the loss or damages referred to above.
Appears in 1 contract
Sources: Lease Agreement (Arsanis, Inc.)
Tenant’s Default. The occurrence of A “Default” under this Lease by Tenant shall exist if any one of the following events shall constitute an event occurs (taking into account the expiration of default on the part of Tenant ("DEFAULT"notice and cure periods provided for below):
(a) The vacation or abandonment of the Premises by 24.1.1 If Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Base Rent, Additional Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant sum required to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment be paid hereunder within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days after written notice thereof from Landlord to Tenantthat such payment was due, provided thatbut was not paid as of the due date (provided, however, if Landlord has delivered two (2) such notices to Tenant has exercised reasonable diligence within the prior twelve (12) month period, any subsequent failure to cure pay Base Rent, Additional Rent or any other sum required to be paid to Landlord hereunder on or before the due date for such failure and such failure cannot be cured within payment occurring shall constitute a Default by Tenant without requirement of such ten (10) day period despite reasonable diligencenotice and opportunity to cure; but in the event a full year elapses between such failures then Tenant shall again have the right to such cure period); or
24.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money to Landlord as set forth in Section 24.1.1 above, and Tenant fails to cure such breach within thirty (30) days after written notice from Landlord where such breach could reasonably be cured within such thirty (30) day period; provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant Default if it commences such performance promptly after its receipt of Landlord’s written notice and diligently thereafter diligently and continuously prosecutes the same to completion; provided that no such grace period to be permitted in the event of any one or more of the following: (i) the Default relates to the maintenance of insurance obligations, (ii) the Default relates to the assignment and subletting provisions, (iii) the Default relates to a violation of Section 5.2 of this Lease, (iv) the Default is of a nature as set forth in Section 24.1.3, in which event the periods set forth therein shall control, or Section 24.1.4, in which event there shall be no applicable cure period, or (v) there exists a reasonable possibility of danger to completion the health or safety of the Landlord, the Tenant, Tenant’s invitees, or any other occupants of, or visitors to, the Building; or
24.1.3 If Tenant shall (i) make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant and actually completes such cure of all or substantially all of Tenant’s property, (iv) file a petition seeking an order for relief under the Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (iv) fail to win the dismissal, discontinuation or vacating of any involuntary bankruptcy proceeding within sixty (60) days after such proceeding is initiated; or
24.1.4 If Tenant shall have abandoned or vacated the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rent, Premises or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rentmaterial (i.e., or any other payments required to be paid by Tenant under this Lease within three (3in excess of 50%) business days after written notice portion thereof for any three (3) months (consecutive or nonconsecutive) during any a period of twelve forty five (1245) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;consecutive days.
Appears in 1 contract
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
23.1.1 If Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure fails to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant sum required to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment be paid hereunder within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (10) days of written notice of nonpayment on the date when due; provided, however, that if Tenant fails to pay any sum required to be paid hereunder when due, on two (2) or more occasions in a twelve (12) month period, no notice by Landlord shall be required and Tenant shall be deemed in default, as further stated in Section 23.1.5 of this Lease; or
23.1.2 If Tenant fails to perform any term, covenant or condition of this Lease except those requiring the payment of money, and Tenant fails to cure such breach within thirty (30) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten thirty (1030) day period despite reasonable diligenceperiod, provided, however, that where such failure could not reasonably be cured within the thirty (30) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the thirty (30) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion and actually completes such cure completion, or if Tenant shall fail to perform or observe any of the provisions required to be performed or observed by Tenant under any other agreement relating to the Premises; or
23.1.3 If, to the extent permitted by applicable law, there shall be filed by or against Tenant, in any court pursuant to any statute either of the United States or any state, a petition in bankruptcy or insolvency or for the reorganization of or for the appointment of a receiver, trustee or liquidator for all or any portion of the assets of Tenant, and, within sixty (60) days after thereafter, Tenant fails to secure a discharge thereof, or if Tenant makes an assignment for the giving benefit of creditors, or if Tenant admits in writing its or their inability to pay its or their debts; or
23.1.4 If Tenant shall fail to take possession of and/or occupy the aforesaid written notice;Premises within the thirty (30) days following the Lease Commencement Date or if Tenant shall desert or abandon the Premises for a period of thirty (30) days at any time following the Lease Commencement Date; or
(k) Chronic 23.1.5 The chronic delinquency by Tenant in the payment of monthly Rent, or any other periodic payments required to be paid by Tenant under this Lease, shall constitute a default. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other periodic payments required to be paid by Tenant under this Lease within three ten (310) business days after written notice thereof for any three two (32) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;twelve
Appears in 1 contract
Sources: Lease (Tel Save Com Inc)
Tenant’s Default. The occurrence of A default under this Lease by Tenant shall exist if any one of the following events shall constitute an event of default on the part of occurs:
23.1.1 If Tenant fails to pay Rent, additional rent or any other sum required to be paid hereunder within five ("DEFAULT"):
(a5) The vacation or abandonment days of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapsedue date thereof, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may demand shall have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant been made for the benefit of creditors;same; or
(d) The filing of a voluntary petition in bankruptcy by Tenant23.1.2 If Tenant fails to perform any term, the filing by Tenant of a voluntary petition for an arrangement, the filing by covenant or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, condition of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified requiring the payment of money to Landlord as events of Default set forth in subparagraphs Section 23.1.1 above, and Tenant fails to cure such breach within fifteen (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1015) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence to cure where such failure and such failure cannot breach could reasonably be cured within such ten fifteen (1015) day period despite reasonable diligenceperiod; provided, however, that where such failure could not reasonably be cured within the fifteen (15) day period, that Tenant shall not be in default under this subparagraph so long as Tenant if it commences such performance within the fifteen (15) day period and diligently thereafter diligently and continuously prosecutes the cure same to completion completion, such grace period not to exceed a maximum of thirty (30) days in the aggregate, and actually completes no such cure grace period to be permitted in the event of any one or more of the following: (i) there exists a risk of prosecution of the Landlord, (ii) there exits a reasonable possibility of danger to the health or safety of the Landlord, the Tenant, Tenant's invitees, or any other occupants of, or visitors to, the Building, (iii) the default relates to the maintenance of insurance obligations, (iv) the default relates to the assignment and subletting provisions, and (v) the default relates to a violation of Section 5.2 of this Lease; the determination as to whether or not any such conditions exist to be made in Landlord's sole discretion; and
23.1.3 If Tenant or any guarantor of this Lease shall (i) make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment of any trustee, receiver or liquidation of Tenant or of any guarantor of this Lease and of all or any part of Tenant's or such guarantor's property, (iv) file a petition seeking an order for relief under the Bankruptcy Code, as now or hereafter amended or supplemented, or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (v) fail to win the dismissal, discontinuation or vacating of any involuntary bankruptcy proceeding within sixty (60) days after such proceeding is initiated; or
23.1.4 If Tenant shall have abandoned or vacated the giving of the aforesaid written notice;Premises; or
(k) Chronic 23.1.5 The chronic delinquency by Tenant in the payment of monthly Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCYChronic delinquency" shall mean failure by Tenant to pay Rent, or any other periodic payments required to be paid by Tenant under this Lease Lease, within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) monthsmonth period. In the event of a Chronic chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the additional right to require that Rent be paid by Tenant quarterlyquarter-annually, in advance;.
Appears in 1 contract
Tenant’s Default. The occurrence of any one or more of the following events shall shall, at Landlord’s option, constitute an event a material default by Tenant of default on the part provisions of Tenant ("DEFAULT"):this Lease:
(a) 18.1 The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any the vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure to pay any installment of Rent or any other monies due and payable hereunder, said failure continuing for a period of three (3) business days after the same is due;
(c) A general assignment by Tenant for the benefit of creditors;
(d) The filing of a voluntary petition in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) 18.2 The failure by Tenant to maintain its legal existencemake any payment of Rent, if Tenant Additional Rent or any other payment required hereunder within three (3) days after written notice that such payment is a corporation, partnership, limited liability company, trust or other legal entityoverdue;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or 18.3 The failure by Tenant to deliver to Landlord observe, perform or comply with any financial statement within of the time period and in the manner required by Paragraph 40;
(h) An assignment conditions, covenants or sublease, or attempted assignment or sublease, provisions of this Lease or the Premises by Tenant contrary (except failure to the provision make any payment of Paragraph 23, unless Rent and/or Additional Rent and any other payment required hereunder) and such assignment or sublease failure is expressly conditioned upon Tenant having received Landlord's consent thereto;
not cured within (i) Failure thirty (30) days of the date on which Landlord delivers written notice of such failure to Tenant for all failures other than with respect to restore the Security Deposit to the amount and within the time period provided (a) Hazardous Materials (defined in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or obligations hereunder (except those failures specified as events of Default in subparagraphs (bSection 27 hereof), (lb) Tenant making the repairs, maintenance and replacements required under the provisions of Section 11.1 hereof, or (mc) above or any other subparagraphs the timely delivery by Tenant of this Paragraph 24a subordination, which shall be governed by such other Paragraphsnon-disturbance and attornment agreement (an “SNDA”), which failure continues for a counterpart of a fully executed Transfer document and a consent thereto (collectively, the “Transfer Documents”), an estoppel certificate and insurance certificates, (ii) ten (10) days after of the date on which Landlord delivers written notice thereof from Landlord of such failure to TenantTenant for all failures in any way related to Hazardous Materials, provided thatand (iii) the time period, if Tenant has exercised reasonable diligence to cure such failure and such failure cannot be cured within such ten (10) day period despite reasonable diligenceany, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure within sixty (60) days after the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant specified in the payment of Rent, or any other periodic payments required to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, or any other payments required to be paid by Tenant under this Lease within three (3) business days after written notice thereof for any three (3) months (consecutive or nonconsecutive) during any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's option, Landlord shall have the right to require that Rent be paid by Tenant quarterly, in advance;applicable
Appears in 1 contract
Tenant’s Default. The occurrence of any one of the following events shall constitute an event of default on the part of Tenant ("DEFAULT"):
(a) The vacation or abandonment of the Premises by Tenant for a period of ten (10) consecutive days or any vacation or abandonment of the Premises by Tenant which would cause any insurance policy to be invalidated or otherwise lapse, in each of the foregoing cases irrespective of whether or not Tenant is then in monetary default under this Lease. Tenant agrees to notice and service of notice as provided for in this Lease and waives any right to any other or further notice or service of notice which Tenant may have under any statute or law now or hereafter in effect;
(b) Failure Default: Any failure to pay any installment of Rent rent or any other monies charges due hereunder as and when the same shall be due and payable hereunder(provided, said however, that no more than twice during any calendar year, a Default shall not have occurred unless Tenant has failed to cure any such failure continuing for a period of within three (3) business days after the same is due;
(cfollowing written notice thereof from Landlord) A general assignment by or if Tenant for the benefit of creditors;
(d) The filing of a voluntary petition defaults in bankruptcy by Tenant, the filing by Tenant of a voluntary petition for an arrangement, the filing by or against Tenant of a petition, voluntary or involuntary, for reorganization, or the filing of an involuntary petition by the creditors of Tenant, said involuntary petition remaining undischarged for a period of sixty (60) days;
(e) Receivership, attachment, or performing any other judicial seizure of substantially all of Tenant's assets on the Premises, such attachment or other seizure remaining undismissed or undischarged for a period of sixty (60) days after the levy thereof;
(f) The failure by Tenant to maintain its legal existence, if Tenant is a corporation, partnership, limited liability company, trust or other legal entity;
(g) Failure of Tenant to execute and deliver to Landlord any estoppel certificate, subordination agreement, or lease amendment within the time periods and in the manner required by Paragraphs 30 or 31 or 42, and/or failure by Tenant to deliver to Landlord any financial statement within the time period and in the manner required by Paragraph 40;
(h) An assignment or sublease, or attempted assignment or sublease, of this Lease or the Premises by Tenant contrary to the provision of Paragraph 23, unless such assignment or sublease is expressly conditioned upon Tenant having received Landlord's consent thereto;
(i) Failure of Tenant to restore the Security Deposit to the amount and within the time period provided in Paragraph 7;
(j) Failure in the performance of any of Tenant's covenants, agreements or non-monetary obligations hereunder and fails to cure such default within thirty (except those failures specified as events of Default in subparagraphs (b), (l) or (m) above or any other subparagraphs of this Paragraph 24, which shall be governed by such other Paragraphs), which failure continues for ten (1030) days after written notice thereof from Landlord to Tenant, provided that, if Tenant has exercised reasonable diligence (or such longer period as may reasonably necessary to cure such failure default if such default is not reasonably susceptible of being cured within thirty (30) days, provided Tenant promptly commences its efforts to cure such default within thirty (30) days and proceeds with due diligence and good faith thereafter); or if Tenant files for or is adjudicated a bankrupt; or if a permanent receiver is appointed for Tenant's property, including Tenant's interest in the Premises, and such failure canreceiver is not be cured within such ten (10) day period despite reasonable diligence, Tenant shall not be in default under this subparagraph so long as Tenant thereafter diligently and continuously prosecutes the cure to completion and actually completes such cure removed within sixty (60) days after written notice from Landlord to Tenant to obtain such removal; or if whether voluntarily or involuntarily, Tenant takes advantage of any debtor relief proceedings under any present or future law, whereby the giving of the aforesaid written notice;
(k) Chronic delinquency by Tenant in the payment of Rentrent or any part thereof is, or any other periodic payments required is proposed to be paid by Tenant under this Lease. "CHRONIC DELINQUENCY" shall mean failure by Tenant to pay Rent, reduced or any other payments required payment thereof deferred; or is proposed to be paid by Tenant reduced or payment should be levied upon or attached under this Lease process against Tenant, not satisfied or dissolved within three thirty (330) business days after written notice thereof for from Landlord to Tenant to obtain satisfaction thereof. Upon the occurrence of any three (3) months (consecutive of the aforesaid events of Default, without further notice or nonconsecutive) during demand of Tenant in any period of twelve (12) months. In the event of a Chronic delinquency, in addition to Landlord's other remedies for Default provided in this Lease, at Landlord's optioninstance, Landlord shall have the right option to require that Rent be paid by Tenant quarterly, in advance;pursue any one or more of the following remedies:
Appears in 1 contract