TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant: (a) Failure to make the due and punctual payment of any rent, or to pay any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payable; (b) Failure by Tenant to perform or comply with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivision (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same); (c) The filing by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or (d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal, state or other statute, law, or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of Landlord shall expire and terminate. SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom. SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following: (a) The cost of recovering possession of the Property, including attorney's fees and court costs; (b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and (c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular. SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity. SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning. SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof. SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 2 contracts
Sources: Lease Agreement (Central Freight Lines Inc), Lease Agreement (Central Freight Lines Inc)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder:
(a) Failure to make the due and punctual payment of any rent, or Tenant fails to pay when due any other sums required installment of Rent, and such failure continues for more than five (5) Business Days after written notice by Landlord to be paid by Tenant under this Lease when and as the same shall become due and payable;of such default; or
(b) Failure Except as otherwise specifically set forth in this Section 15.1, Tenant fails to observe or perform any other term, covenant or condition of this Lease and such failure continues for more than 30 days (or 5 Business Days with respect to a failure under Article 3, Article 9 or Section 26.10) after written notice by Landlord to Tenant of such default, or if such default (other than a default under Article 3, Article 9 or Section 26.10) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to perform or comply with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred commence to in the foregoing subdivision (a)remedy such failure within said 30 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default, provided in all events the continuation of such default for a period of thirty same is completed within 90 days (30) days after written notice thereof form Landlord to Tenant which ninety (provided, that if Tenant proceeds with due diligence during such thirty (3090) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended subject to extension for such additional period as shall be necessary to cure the sameUnavoidable Delays);; or
(c) The filing if Landlord applies or retains any part of the security held by it hereunder, and ▇▇▇▇▇▇ fails to deposit with Landlord the amount so applied or retained by Landlord, within 5 Business Days after written notice by Landlord to Tenant of stating the amount applied, retained or drawn, as applicable; or
(d) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute, statute or law, or regulation which petition shall remain undismissed makes an assignment for the benefit of creditors or unstayed for an aggregate seeks or consents to or acquiesces in the appointment of sixty (60) days, or if any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or
(e) A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence of Landlord and such appointment shall remain unvacated approving a petition filed against Tenant seeking reorganization or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights arrangement of Tenant under this Lease at the option bankruptcy laws of Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Leasethe United States, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on as now in effect or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectmenthereafter amended, or otherwiseany state thereof, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of terminationorder, Landlord judgment or decree shall not be entitled to accelerate the rent to recover vacated or set aside or stayed within 60 days from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by entry thereof. The notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, periods provided herein are in recordable form, confirming such assignment and transferlieu of, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, not in addition to to, any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacitynotice periods provided by applicable Requirements.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 2 contracts
Sources: Lease Agreement (Andersen Group Inc.), Lease Agreement (Andersen Group Inc.)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder:
(a) Failure to make the due and punctual payment of any rent, or Tenant fails to pay when due any other sums required installment of Fixed Rent or Additional Rent and such default continues for ten days after Landlord’s notice of such default is given to be paid by Tenant under this Lease when and as the same shall become due and payable;Tenant; or
(b) Failure by Tenant defaults in observing or performing the provisions of Section 3.1(a) (subject to perform or comply with any of Tenant’s right to challenge the covenants, agreements, terms or conditions contained default as set forth in this Lease other than those referred to in the foregoing subdivision (aSection 3.1(a)), and the continuation of such default continues for a period of thirty (30) days 3 Business Days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same);notice; or
(c) The filing Except where a shorter period may be provided in this Lease, Tenant fails to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant and such failure continues for more than 30 days after notice by Landlord to Tenant of such default, or such default is of such a nature that it cannot be completely remedied within 30 days and Tenant fails to commence to remedy such failure within 30 days, and thereafter fails to diligently prosecute to completion all steps necessary to remedy such default; or
(d) Intentionally Omitted; or
(e) Tenant’s interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 16 hereof and Tenant shall not have cured such default within 30 days after receipt of notice from Landlord regarding the same; or
(f) Tenant admits in writing its inability to, pay its debts as they become due; or
(g) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or
(h) if, within 120 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under the present or any future federal bankruptcy act or any other present or future federal or applicable federal, state bankruptcy or insolvency statutes or other consent to statute or acquiescence in law, such proceeding shall not have been dismissed, or if, within 120 days after the appointment of any trustee, receiver receiver, liquidator or liquidator of Tenant other similar official for Tenant, or of for all or any substantial part of its propertiesTenant’s property, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal, state or other statute, law, or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and Tenant, such appointment shall remain unvacated not have been vacated or unstayed for an aggregate otherwise discharged, or if any lien, execution or attachment or other similar filing shall be made or issued against Tenant or any of sixty Tenant’s property pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or
(60i) days. In Tenant shall fail to comply with the event of any such Event of Default, retail covenants set out in Exhibit F to this Lease and the term herein stated and all rights of Tenant under this Lease at the option of such failure shall continue for five (5) Business Days after notice from Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant); provided, shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse not be in default under this clause (i) if, within such five (5) Business Day period, Tenant commences to executeremedy such default and thereafter diligently prosecutes to completion all steps necessary to remedy such default, acknowledge, or deliver but in no event shall such instrument, default continue for more than 15 days after Landlord, in addition to any other rights and remedies, may as ’s initial notice regarding such default; or
(j) if the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant Guaranty shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease cease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect for any reason other than the termination of the Guaranty in accordance with respect the provisions of Section 2(b) of the Guaranty; or
(k) if the Guarantor (as defined Article 35) shall default under the Guaranty beyond any applicable notice and grace period; or
(l) if the Guarantor (i) fails to any other then existing (A) maintain a Net Worth of [*****] or subsequent breach thereof.
SECTION 19.07(B) a Cash Flow of [*****] and (ii) fails to deliver to Landlord a Letter of Credit (as defined in the Guaranty) within the time period set forth in the Guaranty. In Upon the event occurrence of any breach by one or more of such Events of Default, Landlord may, at its sole option, give to Tenant three days’ notice of any cancellation of the covenants, agreements, terms, or conditions contained in this Lease, Landlord in which event this Lease and the Term shall be entitled come to enjoin such breach an end and expire (whether or not the Term shall have commenced) upon the right expiration of such three day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to invoke any right and remedy allowed at law or Landlord, but Tenant shall remain liable for damages as provided in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this LeaseArticle 20 hereof.
Appears in 2 contracts
Sources: Lease Agreement (MSG Entertainment Spinco, Inc.), Lease Agreement (MSG Entertainment Spinco, Inc.)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant:
(a) Failure to make in the due and punctual payment of any rent, or to pay in the payment of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payable;; or
(b) Failure by Tenant to perform of or comply compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivision subdivisions (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same);; or
(c) The filing by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or federal, state bankruptcy or insolvency statutes or other consent to or acquiescence acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, dissolution or similar relief under any present or future federal, state or other statute, law, law or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver, receiver or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, ejectment or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", " or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 2 contracts
Sources: Eagle Pass Lease (Central Freight Lines Inc/Tx), Fort Worth Lease (Central Freight Lines Inc/Tx)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant:
(a) Failure to make in the due and punctual payment of any rent, or to pay in the payment of any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payable;; or
(b) Failure by Tenant to perform of or comply compliance with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivision subdivisions (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same);; or
(c) The filing by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or federal, state bankruptcy or insolvency statutes or other consent to or acquiescence acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, dissolution or similar relief under any present or future federal, state or other statute, law, law or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver, receiver or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of the Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, ejectment or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment determent proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected effect without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, acknowledge or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment judgement or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", " or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease LEASE by TenantTENANT:
(a) Failure The failure by TENANT to make the due and punctual any payment of any rent, RENT or to pay any other sums payment required to be paid made by Tenant under this Lease TENANT hereunder, as and when and as the same due, where such failure shall become due and payable;continue for a period of ten (10) business days after LANDLORD notifies TENANT in writing of such failure; or
(b) Failure The failure by Tenant TENANT to observe or perform or comply with any of the covenants, agreementsconditions or provisions of this LEASE to be observed or performed by TENANT, terms or conditions contained in this Lease other than those referred to in the foregoing subdivision (a)payment of sums due hereunder, and the continuation of where such default failure shall continue for a period of twenty (20) days after written notice thereof from LANDLORD to TENANT; provided, however, that if the nature of TENANT’s default is such that more than twenty (20) days are reasonably required for its cure, then TENANT shall not be deemed to be in default if TENANT commences such cure within such twenty (20) day period and thereafter diligently pursues such cure to completion.
(c) The commencement of a case under any chapter of the Federal Bankruptcy Code by or against TENANT or any guarantor of TENANT’s obligations hereunder, or the filing of a voluntary or involuntary petition proposing the adjudication of, TENANT or any such guarantor as bankrupt or insolvent, or the reorganization of TENANT or an arrangement by TENANT or any such guarantor with its creditors, unless the petition is filed or case commenced by a party other than TENANT or any such guarantor and is withdrawn or dismissed within thirty (30) days after written notice thereof form Landlord the date of its filing.
(d) The admission in writing by TENANT or any such guarantor of its inability to Tenant pay its debts when due.
(providede) The appointment of a receiver or trustee for the business or property of TENANT or any such guarantor, that if Tenant proceeds with due diligence during unless such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so appointment shall be extended for such additional period as shall be necessary to cure the same);vacated within ten (10) days of its entry.
(cf) The filing making by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all TENANT or any substantial part such guarantor of its properties, or the making by Tenant of any general an assignment for the benefit of its creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal, state or other statute, law, or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if in any trusteeother manner, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, TENANT’s interest in this LEASE shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the pass to another by option of Landlord shall expire and terminatelaw.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on (g) The vacating or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder abandonment of the term and all other damages incurred PREMISES by Landlord by reason of Tenant's default, including but not limited to any TENANT for ten (10) or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singularmore consecutive days.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
Sources: Interlocal Agreement (Lease)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant:
(a) Failure The failure by Tenant to make the due and punctual any payment of any rent, Basic Rent or to pay any other sums payments of rent required to be paid made by Tenant Tenant, as and when due, where the failure continues for a period of five (5) business days after written notice from Landlord to Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under this Lease when and as the same shall become due and payable;Applicable Law.
(b) Failure Any Transfer of this Lease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or other means, in violation of Article IX above.
(c) The failure or inability by Tenant to observe or perform or comply with any of the covenants, agreements, terms covenants or conditions contained in provisions of this Lease to be observed or performed by Tenant, other than those referred to as specified in any other subsection of this Section 14.1, where the foregoing subdivision (a), and the continuation of such default failure continues for a period of thirty (30) days after written notice thereof form from Landlord to Tenant (Tenant; provided, however, that any such notice shall be in lieu of, and not in addition to, any notice required under Applicable Law. However, if Tenant proceeds with due diligence during the nature of the failure is such that more than thirty (30) day period days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences the cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time thereafter diligently pursues the cure to do so shall be extended for such additional period as shall be necessary to cure the same);completion.
(ci) The filing by Tenant of a voluntary petition in bankruptcy or the adjudication of Tenant as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or
(dii) The the filing by or against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, to have Tenant adjudged a Chapter 7 debtor under the Bankruptcy Code or similar relief to have debts discharged or a petition for reorganization or arrangement under any present or future federallaw relating to bankruptcy (unless, state or other statutein the case of a petition filed against Tenant, law, or regulation which petition shall remain undismissed or unstayed for an aggregate of the same is dismissed within sixty (60) days, ); (iii) the appointment of a trustee or if any trustee, receiver, or liquidator receiver to take possession of substantially all of Tenant, ’s assets located at the Premises or of all or any substantial part of its propertiesTenant’s interest in this Lease, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of if possession is not restored to Tenant within sixty (60) days; (iv) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, where the seizure is not discharged within sixty (60) days; or (v) Tenant’s convening of a meeting of its creditors for the purpose of effecting a moratorium upon or composition of its debts. In the event of that any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination provision of this Leasesubsection (d) is contrary to the Bankruptcy Code or any other Applicable Law, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord provision shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any no force or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singulareffect.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
Sources: Lease (Leo Holdings III Corp.)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called shall be an "Events of Default") shall constitute a material default and breach of this Lease by TenantEVENT OF DEFAULT" hereunder:
(a) Failure Tenant fails to make pay when due any installment of Rent and such default shall continue for five days after notice of such default is given to Tenant except that if Landlord shall have given two such notices of default in the due and punctual payment of any rentRent in any 12 month period, or Tenant shall not be entitled to pay any other sums required further notice of its delinquency in the payment of any Rent until such time as 12 consecutive months shall have elapsed without Tenant having failed to be paid by Tenant under this Lease make any such payment when due, and as the same occurrence of any default in the payment of any Rent within such 12 month period which continues for 5 days after the giving of two such notices shall become due and payable;constitute an Event of Default; or
(b) Failure Tenant fails to observe or perform any other term, covenant or condition of this Lease and such failure continues for more than 30 days (10 days with respect to a default under Section 3.1) after notice by Landlord to Tenant of such default, or if such default (other than a default under Section 3.1) is of a nature that it cannot be completely remedied within 30 days, failure by Tenant to perform or comply with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred commence to in the foregoing subdivision (a)remedy such failure within said 30 days, and the continuation of thereafter diligently prosecute to completion all steps necessary to remedy such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provideddefault, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure provided in all events the same is completed within the said thirty (30) 90 days, its time to do so shall be extended for such additional period as shall be necessary to cure the same);; or
(c) The filing by Tenant of files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute, statute or law, or regulation which petition shall remain undismissed makes an assignment for the benefit of creditors or unstayed for an aggregate seeks or consents to or acquiesces in the appointment of sixty (60) days, or if any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or
(d) a court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence of Landlord and such appointment shall remain unvacated approving a petition filed against Tenant seeking reorganization or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights arrangement of Tenant under this Lease at the option bankruptcy laws of Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Leasethe United States, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on as now in effect or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectmenthereafter amended, or otherwiseany state thereof, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of terminationorder, Landlord judgment or decree shall not be entitled to accelerate the rent to recover vacated or set aside or stayed within 60 days from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach entry thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.; or
Appears in 1 contract
Sources: Lease Agreement (Philadelphia Consolidated Holding Corp)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder:
(a) Failure to make the due and punctual payment of any rent, or Tenant fails to pay when due any other sums required installment of Fixed Rent or Additional Rent and such default continues for ten days after Landlord’s notice of such default is given to be paid by Tenant under this Lease when and as the same shall become due and payable;Tenant; or
(b) Failure by Tenant defaults in observing or performing the provisions of Section 3.1(a) (subject to perform or comply with any of Tenant’s right to challenge the covenants, agreements, terms or conditions contained default as set forth in this Lease other than those referred to in the foregoing subdivision (aSection 3.1(a)), and the continuation of such default continues for a period of thirty (30) days 3 Business Days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the nature of the work involved, to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same);notice; or
(c) The filing Except where a shorter period may be provided in this Lease, Tenant fails to observe or perform any other term, covenant or condition of this Lease to be observed or performed by Tenant and such failure continues for more than 30 days after notice by Landlord to Tenant of such default, or such default is of such a nature that it cannot be completely remedied within 30 days and Tenant fails to commence to remedy such failure within 30 days, and thereafter fails to diligently prosecute to completion all steps necessary to remedy such default; or
(d) Intentionally Omitted; or
(e) Tenant’s interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, except as expressly permitted under Article 16 hereof and Tenant shall not have cured such default within 30 days after receipt of notice from Landlord regarding the same; or
(f) ▇▇▇▇▇▇ admits in writing its inability to, pay its debts as they become due; or
(g) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or
(h) if, within 120 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under the present or any future federal bankruptcy act or any other present or future federal or applicable federal, state bankruptcy or insolvency statutes or other consent to statute or acquiescence in law, such proceeding shall not have been dismissed, or if, within 120 days after the appointment of any trustee, receiver receiver, liquidator or liquidator of Tenant other similar official for Tenant, or of for all or any substantial part of its propertiesTenant’s property, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal, state or other statute, law, or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and Tenant, such appointment shall remain unvacated not have been vacated or unstayed for an aggregate otherwise discharged, or if any lien, execution or attachment or other similar filing shall be made or issued against Tenant or any of sixty Tenant’s property pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or
(60i) days. In Tenant shall fail to comply with the event of any such Event of Default, retail covenants set out in Exhibit F to this Lease and the term herein stated and all rights of Tenant under this Lease at the option of such failure shall continue for five (5) Business Days after notice from Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant); provided, shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse not be in default under this clause (i) if, within such five (5) Business Day period, Tenant commences to executeremedy such default and thereafter diligently prosecutes to completion all steps necessary to remedy such default, acknowledge, or deliver but in no event shall such instrument, default continue for more than 15 days after Landlord, in addition to any other rights and remedies, may as ’s initial notice regarding such default; or
(j) if the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant Guaranty shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease cease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect for any reason other than the termination of the Guaranty in accordance with respect the provisions of Section 2(b) of the Guaranty; or
(k) if the Guarantor (as defined Article 35) shall default under the Guaranty beyond any applicable notice and grace period; or
(l) if the Guarantor (i) fails to any other then existing (A) maintain a Net Worth of [*****] or subsequent breach thereof.
SECTION 19.07(B) a Cash Flow of [*****] and (ii) fails to deliver to Landlord a Letter of Credit (as defined in the Guaranty) within the time period set forth in the Guaranty. In Upon the event occurrence of any breach by one or more of such Events of Default, Landlord may, at its sole option, give to Tenant three days’ notice of any cancellation of the covenants, agreements, terms, or conditions contained in this Lease, Landlord in which event this Lease and the Term shall be entitled come to enjoin such breach an end and expire (whether or not the Term shall have commenced) upon the right expiration of such three day period with the same force and effect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to invoke any right and remedy allowed at law or Landlord, but Tenant shall remain liable for damages as provided in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this LeaseArticle 20 hereof.
Appears in 1 contract
Sources: Lease (MSGE Spinco, Inc.)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder:
(a) Failure Tenant fails to make pay when due any installment of Rent and such default shall continue for ten (10) days after notice of such default is given to Tenant except that if Landlord shall have given three (3) such notices of default in the due and punctual payment of any rentRent in any twelve (12) month period, Tenant shall not be entitled to any further notice of its delinquency in the payment of any Rent or an extended period in which to pay make payment until such time as twelve (12) consecutive months shall have elapsed without Tenant having failed to make any other sums required to be paid by Tenant under this Lease such payment when due, and as the same occurrence of any default in the payment of any Rent within such twelve (12) month period after the giving of three (3) such notices shall become due and payable;constitute an Event of Default; or
(b) Failure by Tenant fails to observe or perform any other term, covenant or comply with any condition of the covenants, agreements, terms or conditions contained in this Lease other and such failure continues for more than those referred to in the foregoing subdivision (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form by Landlord to Tenant (providedof such default, or if such default is of a nature that if Tenant proceeds with due diligence during such it cannot be completely remedied within thirty (30) day period days, failure by Tenant to cure commence to remedy such default and is unable by reason of the nature of the work involved, to cure the same failure within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be and thereafter diligently take all steps necessary to cure the same);remedy such default; or
(c) The filing by [intentionally omitted]; or
(d) Tenant of files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute, statute or law, or regulation which petition shall remain undismissed makes an assignment for the benefit of creditors or unstayed for an aggregate seeks or consents to or acquiesces in the appointment of sixty (60) days, or if any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or
(e) a court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence of Landlord and such appointment shall remain unvacated approving a petition filed against Tenant seeking reorganization or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights arrangement of Tenant under this Lease at the option bankruptcy laws of Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Leasethe United States, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on as now in effect or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectmenthereafter amended, or otherwiseany state thereof, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of terminationorder, Landlord judgment or decree shall not be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any vacated or all of the following:
set aside or stayed within ninety (a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (1590) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to from the date of terminationentry thereof; or
(f) Guarantor generally does not, or (c) after Landlord shall have commenced a proceeding to recover possession of the Propertyis unable to, but prior or admits in writing its inability to, pay its debts as they become due or is subject to the termination filing of this Leasea petition, all subleases theretofore executed by case or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, proceeding in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacitybankruptcy.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
Sources: Deed of Lease (FBR & Co.)
TENANT’S DEFAULTS. SECTION 19.01. The In addition to any other event of default set forth in this Lease, the occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant:
(a) Failure The failure by Tenant to make the due and punctual any payment of any rent, Base Rent or to pay any other sums Additional Rent required to be paid made by Tenant under this Lease Tenant, as and when and as the same shall become due and payable;
due, where such failure continues for more than five (b) Failure by Tenant to perform or comply with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivision (a), and the continuation of such default for a period of thirty (305) days after written notice thereof form from Landlord to Tenant (of the delinquency thereof; provided, however, that if Tenant proceeds with due diligence during any such thirty notice shall constitute and/or be in lieu of, and shall not be in addition to, any notice required under applicable law.
(30b) day period to cure such default and is unable by reason Assignment, sublease, encumbrance or other transfer of the nature Lease by Tenant, either voluntarily or by operation of law, whether by judgment, execution, transfer by intestacy or testacy, or other means without the work involvedprior written consent of Landlord, except as expressly permitted pursuant to cure the same within the said thirty (30Section 9.1(c) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same);hereof.
(c) The filing discovery by Landlord that any financial statement provided by Tenant of a voluntary petition in bankruptcy or the adjudication by any affiliate, successor or guarantor of Tenant as a bankrupt was materially false.
(d) The failure or insolvent, or taking inability by Tenant to observe or perform any of the benefit express covenants or provisions of this Lease to be observed or performed by Tenant, other than as specified in any relevant debtors or other subsection of this Section, where the filing by failure continues for a period of fifteen (15) days after written notice from Landlord to Tenant; provided, however, that any such notice shall constitute and/or be in lieu of and not in addition to any notice required under applicable law. However, if the nature of the failure is such that more than fifteen (15) days are reasonably required for its cure, then Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent shall not be deemed to or acquiescence be in default if Tenant commences the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or cure within fifteen (15) days and thereafter diligently pursues the cure to completion.
(i) The making by Tenant of any general assignment for the benefit of creditors; or
(dii) The the filing by or against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, to have Tenant adjudged a Chapter 7 debtor under the Bankruptcy Code or similar relief to have debts discharged or a petition for reorganization or arrangement under any present law relating to bankruptcy (unless, in the case of a petition filed against Tenant, the same is dismissed within sixty [60] days); (iii) the appointment of a trustee or future federalreceiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, state if possession is not restored to Tenant within thirty (30) days; (iv) the attachment, execution or other statutejudicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease where the seizure is not discharged within thirty (30) days; or (v) Tenant’s convening of a meeting of its creditors for the purpose of effecting a moratorium upon or composition of its debts. Landlord shall not be deemed to have knowledge of any event described in this subsection unless notification in writing is received by Landlord, nor shall there be any presumption attributable to Landlord of Tenant’s insolvency. In the event that any provision of this subsection is contrary to applicable law, the provision shall be of no force or regulation which petition shall remain undismissed effect.
(f) The Tenant’s failure to take possession of the Premises or unstayed for an aggregate of to occupy same within sixty (60) days, or if any trustee, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without days after the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of Landlord shall expire and terminateCommencement Date.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called "Events shall be an “Event of Default") shall constitute a material default and breach of this Lease by Tenant” hereunder:
(a) Failure Tenant fails to make pay when due any installment of Rent and such default shall continue for ten (10) days after notice of such default is given to Tenant except that if Landlord shall have given two such notices of default in the due and punctual payment of any rentRent in any twelve (12) month period, Tenant shall not be entitled to any further notice of its delinquency in the payment of any Rent or an extended period in which to pay make payment until such time as twelve (12) consecutive months shall have elapsed without Tenant having failed to make any other sums required such payment when due at which time Tenant’s right to receive notice shall be paid by Tenant under this Lease when reinstated as set forth above, and as the same occurrence of any default in the payment of any Rent within such twelve (12) month period after the giving of two (2) such notices shall become due and payable;constitute an Event of Default; or
(b) Failure by Tenant fails to observe or perform any other term, covenant or comply with any condition of the covenants, agreements, terms or conditions contained in this Lease other and such failure continues for more than those referred to in the foregoing subdivision (a), and the continuation of such default for a period of thirty (30) days after written notice thereof form by Landlord to Tenant (providedof such default, or if such default is of a nature that if Tenant proceeds with due diligence during such it cannot be completely remedied within thirty (30) day period days, failure by Tenant to cure commence to remedy such default and is unable by reason of the nature of the work involved, to cure the same failure within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be and thereafter diligently take all steps necessary to cure the same);remedy such default to completion; or
(c) The filing by [intentionally omitted]; or
(d) Tenant of files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute, statute or law, or regulation which petition shall remain undismissed makes an assignment for the benefit of creditors or unstayed for an aggregate seeks or consents to or acquiesces in the appointment of sixty (60) days, or if any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant’s property; or
(e) a court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or appointing a trustee, receiver or liquidator of Tenant, or of all the whole or any substantial part of its propertiesproperty, shall be appointed without the consent of Tenant, or acquiescence approving a petition filed against Tenant seeking reorganization or arrangement of Landlord Tenant under the bankruptcy laws of the United States, as now in effect or hereafter amended, or any state thereof, and such appointment order, judgment or decree shall remain unvacated not be vacated or unstayed for an aggregate of set aside or stayed within sixty (60) days. In days from the event date of entry thereof; or
(f) Guarantor generally does not, or is unable to pay its debts as they become due or is subject to the filing of a petition, case or proceeding in bankruptcy; or
(g) the occurrence of a default under any such Event guaranty of Default, this Lease and the term herein stated and all rights or any portion of Tenant Tenant’s liabilities under this Lease at the option of Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to default continues beyond the expiration of the term of this Lease, or any applicable notice and/or cure period(s) (bif any) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do set forth in such capacityguaranty.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
Sources: Deed of Lease (Carlyle Group L.P.)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach an event of this Lease by Tenant:
default: (ai) Failure to make the due and punctual payment Any installment of any rent, Fixed Rent or to pay any other sums required to be paid by Tenant under this Lease when hereunder, or any part thereof shall at any time be in arrears and as unpaid for ten (10) days after the same shall become due and payable;
date due, or (bii) Failure by There is any default or breach on the part of Tenant to perform in the observance or comply with performance of any of the other covenants, agreements, terms or conditions contained in of this Lease other than those referred on the part of Tenant to in the foregoing subdivision (a), be kept and the continuation of such performed and said default or breach shall continue for a period of thirty (30) days after written notice thereof form from Landlord to Tenant (provided, that if Tenant proceeds with due diligence during unless such default cannot reasonably be cured within thirty (30) day period days and in such case, Tenant shall have commenced to cure such said default and is unable by reason of the nature of the work involved, to cure the same within the said thirty ({30) daysdays and thereafter continue diligently to pursue to completion the curing of same, its time but in no event to do so exceed sixty (60) days after notice from Landlord to Tenant), or (iii) Tenant shall be extended for such additional period as shall be necessary to cure the same);
(c) The filing by Tenant of file a voluntary petition in bankruptcy or the adjudication of Tenant as be adjudicated a bankrupt or insolventbankrupt, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes Federal, State or other consent to statute, law or acquiescence in regulation, or make an assignment for the appointment benefit of any creditors, or (iv) Any trustee, receiver or liquidator of Tenant or of all or any substantial part of its properties, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal, state or other statute, law, or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, properties shall be appointed in any action, suit or proceeding by or against Tenant and such proceeding or action shall not have been dismissed within ten (10) days after such appointment, or (v) Tenant shall attempt to assign this Lease or sublet any portion of the Premises without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies except as permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this LeaseParagraph 15 hereof, or (bvi) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail to deliver within twenty (20) days after a request therefor any document described in Paragraphs 11 or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity17 hereof.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
Sources: Lease Agreement (Ace Hardware Corp)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called shall be an "Events Event of Default") shall constitute a material default and breach of this Lease by Tenant" hereunder:
(a) Failure to make the due and punctual payment of any rent, or to pay any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payable;
(bi) Failure by Tenant to pay when due any installment of Fixed Rent; or
(ii) Failure by Tenant to observe or perform any other term, covenant or comply condition of this Lease to be observed or performed by Tenant and if such failure continues for more than 10 days after notice by Landlord to Tenant of such default, or if such default is of such a nature that it cannot be completely remedied within 10 days, failure by Tenant to commence to remedy such failure within said 10 days, and thereafter diligently prosecute to completion all steps necessary to remedy such default; or
(iii) Tenant defaults in the observance or performance of any term, covenant or condition on Tenant's part to be observed or performed under any other lease with Landlord or Landlord's predecessor-in-interest for space in the Building and such default shall continue beyond any grace period set forth in such other lease for the remedying of the covenants, agreements, terms or conditions contained such default; or
(iv) Tenant's interest in this Lease other than those referred shall devolve upon or pass to in the foregoing subdivision any person, whether by operation of law or otherwise, except as expressly permitted under Article 15 hereof, or
(a)v) Tenant generally does not, and the continuation of such default for a period of thirty (30) days after written notice thereof form Landlord to Tenant (provided, that if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and or is unable by reason of the nature of the work involvedto, to cure the same within the said thirty (30) daysor admits in writing its inability to, pay its time to do so shall be extended for such additional period debts as shall be necessary to cure the same);they become due; or
(cvi) The filing by Tenant of files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or
(vii) if, within 60 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under the present or any future federal bankruptcy act or any other present or future federal or applicable federal, state bankruptcy or insolvency statutes or other consent to statute or acquiescence in law, such proceeding shall not have been dismissed, or if, within 60 days after the appointment of any trustee, receiver receiver, liquidator or liquidator of other similar official for Tenant or of for all or any substantial part of its propertiesTenant's property, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal, state or other statute, law, or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and Tenant, as the case may be, such appointment shall remain unvacated not have been vacated or unstayed for an aggregate of sixty (60) days. In otherwise discharged, or if any lien, Upon the event occurrence of any one or more of such Event Events of Default, Landlord may, at its sole option, give to Tenant three days' notice of cancellation of this Lease, in which event this Lease and the term herein stated Term shall come to an end and all rights of Tenant under this Lease at expire (whether or not the option of Landlord Term shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter have commenced) upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of such three day period with the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to same force and effect as if the date of termination, or (c) after Landlord expiration of such three days were the Expiration Date stated herein; and Tenant shall have commenced a proceeding then quit and surrender the Premises to recover possession of the PropertyLandlord, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, remain liable for damages as provided in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacityArticle 19 hereof.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
Sources: Lease Agreement (Martha Stewart Living Omnimedia Inc)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Any of the following events (herein sometimes called "Events of Default") shall constitute a material default and breach of this Lease by Tenant“Tenant Default”:
(a) Failure to make A. Tenant defaults in the due and punctual payment of any rentRent, or to pay any other sums required to be paid by Tenant under this Lease when and as the same shall become due and payablesuch default continues for ten (10) days after written notice from Tenant;
(b) Failure by B. Tenant breaches any of the other representations, agreements, terms, covenants or conditions set forth in this A&R Lease that Tenant is required to perform or comply with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivision (a)observe, and the continuation of such default breach continues for a period of thirty (30) days after written notice thereof form from Landlord or the County to Tenant (Tenant; provided, that however if Tenant proceeds the curing or remedying of such default requires the doing of work or the taking of action which cannot with due diligence during such be completed in a thirty (30) day period, continues beyond such period to cure such default and is unable by reason following the end of the nature period of the work involved, to cure the same within the said thirty (30) daysdays after the service of a notice of default as is reasonably necessary, its time taking into account unavoidable delays, to do so shall be extended for the work required or to complete such additional period other action as shall be necessary is required to cure or remedy the same)default in question;
C. Tenant breaches any of the agreements, terms, covenants or conditions set forth in the Management Agreement that Tenant is required to perform or observe pursuant to the terms thereof and said breach continues beyond the greater of (ca) The filing any applicable notice and cure period provided for in such agreement and (b) ninety (90) days after written notice from Landlord to Tenant;
D. Tenant defaults in the performance or observance of any term, covenant, condition or provision of Development Agreement subject to the same notice, cure and other provisions as if such default were under this A&R Lease;
E. This A&R Lease or the Sports Complex or any part of the Sports Complex is taken upon execution or by other process of law directed against ▇▇▇▇▇▇, or are taken upon or subject to any attachment by any creditor of Tenant or claimant against Tenant, and said attachment is not discharged or disposed of within ninety (90) days after its levy;
F. Tenant files a voluntary petition in bankruptcy or insolvency or for reorganization or arrangement under the adjudication bankruptcy laws of Tenant as a bankrupt the United States or insolventunder any insolvency act of any state, or taking by Tenant of admit the benefit material allegations of any relevant debtors such petition by answer or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of its propertiesotherwise, or the making by Tenant of any general are dissolved or make an assignment for the benefit of creditors; or
(d) The filing G. Involuntary proceedings under any such bankruptcy law or insolvency act or for the dissolution of Tenant are instituted against Tenant of a petition seeking any reorganizationTenant, arrangement, composition, readjustment, liquidation, dissolutionas applicable, or similar relief under a receiver or trustee is appointed for any present or future federal, state or other statute, law, or regulation which petition shall remain undismissed or unstayed for an aggregate material portion of sixty (60) days, or if any trustee, receiver, or liquidator the property of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated proceeding is not dismissed or unstayed for an aggregate of sixty such receivership or trusteeship vacated within one hundred and twenty (60120) days. In the event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or days after such termination, Landlord may without further notice, enter upon the Property by force, summary proceedings, ejectment, institution or otherwise, and dispose and remove Tenant therefromappointment.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
Appears in 1 contract
Sources: Lease Agreement
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more of the following events (herein sometimes called "Events of Default") shall constitute a material an event of default and breach of under this Lease by TenantLease:
(ai) Failure Tenant's failure to make the due and punctual payment pay, in full, any installment of Basic Rent or additional rent when it is first due;
(ii) Tenant's failure to perform any rent, or to pay any other sums required to be paid by Tenant of its obligations under this Lease when and as the same shall become due and payableif such failure has caused loss or damage that cannot promptly be cured by Tenant;
(biii) Failure by Tenant Tenant's failure to perform or comply with any of the covenants, agreements, terms or conditions contained in its obligations under this Lease (other than those referred to in the foregoing subdivision contemplated by clauses (a), i) and the continuation (ii) of such default for a period of this Section 21.01) within thirty (30) days after written the receipt of notice thereof form Landlord to Tenant (providedspecifying the default, that if Tenant proceeds with due diligence during unless complete performance of such obligation within such thirty (30) day period to cure such default is not possible using diligence and is unable by reason expedience, then within a reasonable time after Tenant's receipt of the nature Landlord's notice, so long as Tenant shall have commenced performance of the work involvedrequired to correct the default and Tenant shall continue to perform such remedy, diligently and expediently, through to cure the same within the said thirty (30) days, its time to do so shall be extended for such additional period as shall be necessary to cure the same)completion of performance;
(civ) The filing discovery that any representation made by Tenant in this Lease shall have been inaccurate or incomplete in any material respect on the date it was made;
(v) The sale, transfer or other disposition of a voluntary petition in bankruptcy or the adjudication any interest of Tenant in the Demised Premises, whether voluntarily or by way of execution or other legal process;
(vi) Tenant, if a corporation, shall cease to exist as a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under any present or future federal or state bankruptcy or insolvency statutes or other consent to or acquiescence corporation in good standing in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part state of its propertiesincorporation, or the making by Tenant of any general assignment for state in which the benefit of creditorsDemised Premises is located, or Tenant, if a partnership or other entity, shall be dissolved or otherwise liquidated; or
(dvii) The filing against Tenant shall use any property adjoining the Demises Premises for any purpose whatsoever, without the written permission of a petition seeking the property owner and any reorganizationthird party who may have an interest in such property (including, arrangementwithout limitation, compositionholding an interest as tenant, readjustmenteasement holder) or do any act (including, liquidationwithout limitation, dissolutionthe parking or staging of any vehicle) that interferes with the operations of Landlord, or similar relief under any present third party who may have an interest in property owned by Landlord or future federalmanaged by Manager (including, state without limitation, those holding an interest as tenant or other statute, laweasement holder), or regulation which petition any adjacent property owner. Upon the occurrence of an event of default, Landlord shall remain undismissed or unstayed for an aggregate deliver written notice to Tenant specifying the default (hereinafter "First Notice"). At the expiration of sixty the time period specified in (60iii) daysabove, or if at the expiration of ten (10) days in any trustee, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and such appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days. In the other event of any such Event of Default, this Lease and the term herein stated and all rights of Tenant under this Lease at the option of Landlord shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such terminationdefault, Landlord may without further notice(x) cancel and terminate this Lease on not less than five (5) days written notice (hereinafter "Second Notice") to Tenant, and on the date specified in the Second Notice the Term of this Lease shall terminate and expire, and Tenant shall then quit and surrender the premises to Landlord, but Tenant shall remain liable as hereinafter provided and/or (y) at any time thereafter re-enter upon and resume possession of the Property Premises by force, summary proceedings, ejectment, an action in ejectment or otherwise, by force or otherwise and dispose and dispossess or remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due occupants and owing under their effects and hold the Premises as if this Lease for had not been made; and Tenant waives the remainder service of any additional notice of intention to re-enter or to institute legal proceedings to that end. Notwithstanding the term and all other damages incurred by Landlord by reason of Tenant's defaultforegoing, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course event: Tenant is contesting, in good faith, the payment of things would be likely to result therefromsuch additional rent; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) Tenant has provided Landlord with written fifteen (15) days notice of such contest prior to the expiration of the term of this Lease, or aforestated ten (b10) after Landlord or Tenant shall have been served any days; and Such written notice of termination of this Lease, but prior to contains the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord basis for Tenant's proper and legal attorney-in-fact for such purposecontest, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives including any and all right required supporting documentation; and Tenant diligently prosecutes such contest in an expeditious manner; and Tenant has deposited the amount of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure additional rent billed by Landlord with an escrow agent; then, Landlord agrees to insist upon delay sending the strict performance aforesaid Second Notice until ten (10) days after Tenant's receipt of any covenant, agreement, term, or condition Landlord's Response. Landlord agrees to deliver to Tenant written notice of this Lease or it's response to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during Tenant's written contest setting forth Landlord's basis for the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full force and effect with respect to any other then existing or subsequent breach thereof.
SECTION 19.07. In the event of any breach by Tenant of any validity of the covenantsadditional rent billing ("Landlord's Response"), agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach including any and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Leaseall required supporting documentation.
Appears in 1 contract
Sources: Multiple Occupancy Net Lease (United Natural Foods Inc)
TENANT’S DEFAULTS. SECTION 19.01. The occurrence of any one or more Each of the following events (herein sometimes called shall be an "Events Event of Default") shall constitute a material default and breach of this Lease by Tenant" hereunder:
(a) Failure Tenant fails to make pay when due any installment of Fixed Rent or Additional Rent and such default continues for three Business Days after notice of such default is given to Tenant, except that if Landlord shall have given two such notices of default in the due and punctual payment of any rentRent in any consecutive twelve month period, Tenant shall not be entitled to any further notice of delinquency in the payment of any Rent or an extended period in which to pay make payment until such time as twelve consecutive months shall have elapsed without Tenant having failed to make any other sums required to be paid by Tenant under this Lease such payment when due, and as the same occurrence of any default in the payment of any Rent within such twelve month period after the giving of two such notices shall become due and payable;constitute an Event of Default; or
(b) Failure Tenant defaults in the observance or performance of any other term, covenant or condition of this Lease to be observed or performed by Tenant to perform or comply with any of the covenants, agreements, terms or conditions contained in this Lease other than those referred to in the foregoing subdivision (a), and the continuation of such default continues for a period of thirty (30) more than 30 days after written notice thereof form by Landlord to Tenant (provided, that of such default; or if Tenant proceeds with due diligence during such thirty (30) day period to cure such default and is unable by reason of the such a nature of the work involved, to cure the same that it can be remedied but cannot be completely remedied within the said thirty (30) 30 days, its time Tenant fails to do so shall be extended for commence to remedy such additional period as shall be default within 30 days after such notice or, with respect to any such default, Tenant, having commenced such remedy within 30 days after such notice, fails to diligently prosecute to completion all steps necessary to cure the same);remedy such default; or
(c) The filing Tenant's interest in this Lease shall devolve upon or pass to any Person, whether by operation of law or otherwise, in violation of Article 15; or
(d) Tenant of admits in writing its inability to, pay its debts as they become due; or
(e) Tenant files a voluntary petition in bankruptcy or the adjudication of Tenant as insolvency, or is adjudicated a bankrupt or insolvent, or taking by Tenant of the benefit of any relevant debtors or the filing by Tenant of files any petition or answer seeking any reorganization, liquidation, dissolution or similar relief under any present or future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or makes an assignment for the benefit of creditors or seeks or consents to or acquiesces in the appointment of any trustee, receiver, liquidator or other similar official for Tenant or for all or any part of Tenant's property; or
(f) if, within 90 days after the commencement of any proceeding against Tenant, whether by the filing of a petition or otherwise, seeking bankruptcy, insolvency, reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief for itself under the present or any future federal bankruptcy act or any other present or future federal or applicable federal, state bankruptcy or insolvency statutes or other consent to statute or acquiescence in law, such proceeding shall not have been dismissed, or if, within 90 days after the appointment of any trustee, receiver receiver, liquidator or liquidator of other similar official for Tenant or of for all or any substantial part of its propertiesTenant's property, or the making by Tenant of any general assignment for the benefit of creditors; or
(d) The filing against Tenant of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future federal, state or other statute, law, or regulation which petition shall remain undismissed or unstayed for an aggregate of sixty (60) days, or if any trustee, receiver, or liquidator of Tenant, or of all or any substantial part of its properties, shall be appointed without the consent or acquiescence of Landlord and Tenant, such appointment shall remain unvacated not have been vacated or unstayed for an aggregate otherwise discharged, or if any lien, execution or attachment or other similar filing shall be made or issued against Tenant or any of sixty Tenant's property pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied by someone other than Tenant; or
(60g) daysif Landlord applies or retains any part of the Security Deposit, and Tenant fails to deposit with Landlord the amount so applied or retained by Landlord, or to provide Landlord with a replacement Letter of Credit (as defined in Section 35.2), if applicable, within 5 Business Days after notice by Landlord to Tenant stating the amount applied or retained. In Upon the event occurrence of any one or more of such Event Events of Default, Landlord may, at its sole option, give to Tenant three days' notice of cancellation of this Lease, in which event this Lease and the term herein stated Term shall come to an end and all rights of Tenant under this Lease at expire (whether or not the option of Landlord Term shall expire and terminate.
SECTION 19.02. Upon any such termination of this Lease, Tenant shall quit and peacefully surrender the Property to Landlord and the buildings and improvements thereon shall automatically be and become the property of Landlord free and clear of any claims of Tenant. At any time on or after such termination, Landlord may without further notice, enter have commenced) upon the Property by force, summary proceedings, ejectment, or otherwise, and dispose and remove Tenant therefrom.
SECTION 19.03. In such event of termination, Landlord shall be entitled to accelerate the rent to recover from Tenant all unpaid installments of rent and other sums due and owing under this Lease for the remainder of the term and all other damages incurred by Landlord by reason of Tenant's default, including but not limited to any or all of the following:
(a) The cost of recovering possession of the Property, including attorney's fees and court costs;
(b) Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and
(c) Any other amounts and remedies permitted by law. All remedies are cumulative and are not alternate or singular.
SECTION 19.04. At any time (a) written fifteen (15) days prior to the expiration of such three day period with the term of this Lease, or (b) after Landlord or Tenant shall have been served any notice of termination of this Lease, but prior to the date of termination, or (c) after Landlord shall have commenced a proceeding to recover possession of the Property, but prior to the termination of this Lease, all subleases theretofore executed by or assigned to Tenant and the rents payable thereunder, at the option of Landlord (such option to be exercised by notice to Tenant), shall be deemed assigned and transferred by Tenant to Landlord. Such assignment and transfer shall be effected without execution by Tenant of any instrument. However, Tenant at Landlord's request, shall execute, acknowledge and deliver to Landlord an instrument or instruments, in recordable form, confirming such assignment and transfer, and in the event that Tenant shall fail or refuse to execute, acknowledge, or deliver such instrument, Landlord, in addition to any other rights and remedies, may as the attorney-in-fact of Tenant, execute, acknowledge and deliver it, and Tenant hereby irrevocably nominates, constitutes and appoints Landlord Tenant's proper and legal attorney-in-fact for such purpose, coupled with an interest, hereby ratifying all that Landlord may do in such capacity.
SECTION 19.05. Tenant, for and on behalf of itself and all persons claiming through or under Tenant waives any and all right of redemption or reentry or repossession or to restore the operation of this Lease in case Tenant shall be dispossessed by a judgment or by warrant of any court or judge or in case of expiration or termination of this Lease. The terms "enter", "reenter", "entry", or "reentry", as used in this Lease, are not restricted to their technical legal meaning.
SECTION 19.06. No failure by Landlord to insist upon the strict performance of any covenant, agreement, term, or condition of this Lease or to exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any such breach, shall constitute a wavier of any such breach or of such covenant, agreement, term or condition. No covenant, agreement, term or condition of this Lease to be performed or complied with by Landlord or Tenant, and no breach thereof, shall be waived, altered, or modified, except by a written instrument executed by the party to be charged therewith. No waiver of any breach shall affect or alter this Lease, but each and every covenant, agreement, term, and condition of this Lease shall continue in full same force and effect with respect as if the date set forth in the notice was the Expiration Date stated herein; and Tenant shall then quit and surrender the Premises to any other then existing or subsequent breach thereofLandlord, but Tenant shall remain liable for damages as provided in Article 19 hereof.
SECTION 19.07. In the event of any breach by Tenant of any of the covenants, agreements, terms, or conditions contained in this Lease, Landlord shall be entitled to enjoin such breach and shall have the right to invoke any right and remedy allowed at law or in equity for such breach as though re-entry, summary proceedings, and other remedies were not provided for in this Lease.
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Sources: Lease (Advent Software Inc /De/)