Common use of Default of Tenant Clause in Contracts

Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.

Appears in 3 contracts

Samples: Laboratory Lease (Dynavax Technologies Corp), Lease Agreement (Dynavax Technologies Corp), Laboratory Lease (Dynavax Technologies Corp)

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Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified (or if such breach or default cannot be cured within said time, then within such additional time (not to exceed an additional thirty (30) days) as may be necessary if within said thirty (30) days Tenant has commenced and is such that more than 30 days are reasonably required diligently pursuing the remedies necessary to cure such breach or default, Tenant ); or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or of (c) if Tenant's leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant's leasehold interest or Tenant's other property, including said leasehold interest, and shall not be discharged within ten (10) days thereafter (or if such lien cannot be discharged within said time, then within such additional time (not to exceed an arrangement, composition, extension additional thirty (30) days) as may be necessary if within said ten (10) days Tenant has commenced and is diligently pursuing the remedies necessary to discharge such lien); or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord's approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a "Default of Tenant"), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the term of this Lease and all of Tenant's rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 3 contracts

Samples: Predix Pharmaceuticals Holdings Inc, EPIX Pharmaceuticals, Inc., EPIX Pharmaceuticals, Inc.

Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default in complying with its obligations under Sections 4.4 and breach 6.1.11 of this Lease by Tenant: and if any such default described in this subclause (aI) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues shall continue for five ten (510) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified (provided that if Tenant is proceeding in good faith and with due diligence to complete the nature cure of the default any such non-monetary performance breach which is curable but cannot reasonably be cured within thirty (30) days, such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty (30) day period it commences shall be extended for up to cure and diligently prosecutes such cure to completionan additional ninety (90) days); or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 2 contracts

Samples: Lease (Leap Therapeutics, Inc.), Leap Therapeutics, Inc.

Default of Tenant. The occurrence of any one or more Each of the following events shall constitute a an event of default and breach of under this Lease by TenantLease: (a) Tenant's ’s failure to pay make any payment of the Base Rent, additional rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for any other sum within five (5) business days after notice from Landlordof such payment’s due date; (b) Tenant's abandonment ’s failure to take possession of the demised PremisesDemised Premises within THIRTY (30) calendar days after delivery thereof to Tenant; (c) Tenant's ’s violation or failure to promptly and fully perform or observe any other covenant, covenant or condition or agreement contained in of this Lease where such failure continues for 30 within ten (10) calendar days after written notice thereof from Landlord to Tenant Landlord; or if such violation or failure is remediable but is of such default a nature that it cannot be remedied within such ten (10) calendar day period, then for such longer period as may reasonably be required up to a maximum of ninety (90) days, provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it promptly commences to cure and diligently prosecutes pursues such cure remedy to completion; (d) Tenant’s abandonment or vacation of the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Demised Premises; (e) the making by Tenant insolvency or bankruptcy of a Tenant, any general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or partner of Tenant (a “General Partner”) or any substantial part of its assets or propertyguarantor; or (f) if Tenant’s dissolution or liquidation. If there shall be an event of default, including an event of default prior to the interest Lease Commencement Date, then Landlord shall have the right, at its sole option, to terminate this Lease. In addition, with or without terminating this Lease, Landlord may reenter the Demised Premises, terminate Tenant’s right of possession and take possession of the Demised Premises. The provisions of this Article shall operate as a notice to quit, any other notice to quit or of Landlord’s intention to reenter the Demised Premises being hereby expressly waived. If necessary, Landlord may proceed to recover possession of the Demised Premises under and by virtue of the laws of the Commonwealth of Virginia, or by such other proceedings, including reentry and possession, as may be applicable. If Landlord elects to terminate this Lease and/or elects to terminate Tenant’s right of possession, then everything contained in this Lease to be done and performed by Landlord shall cease, without prejudice, however, to Landlord’s right to recover from Tenant under all rent and other sums due hereunder through the Lease Expiration Date as defined in Article III. No such re-entry or taking possession of the Demised Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof shall result as a matter of law or be decreed by a court of competent jurisdiction. Whether or not this Lease and/or Tenant’s right of possession is terminated, Landlord may, but shall not be obligated to, relet the Demised Premises or any part thereof, alone or together with other premises, for such rent and upon such terms and conditions (which may include concessions, free rent and alterations of the Demised Premises) as Landlord, in its sole discretion, may determine, but Landlord shall not be liable for, nor shall Tenant’s obligations be diminished by reason of, Landlord’s failure to relet the Demised Premises or collect any rent due upon such reletting. Whether or not this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time periodterminated, Tenant nevertheless shall not remain liable for any Base Rent, additional rent or damages which may be subject due or sustained by reason of such default, and costs, fees and expenses (including without limitation reasonable attorneys’ fees, brokerage fees, expenses incurred in placing the Demised Premises in rentable condition and tenant finish necessitated to penalty under obtain the new tenant) incurred by Landlord in pursuit of its remedies and in renting the Demised Premises to others from time to time. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease so long as for such previous breach. Tenant prosecutes such corrective action diligently and continuously shall also be liable to completion.Landlord for additional damages, which shall be, at Landlord’s option, either (a) or (b) below:

Appears in 2 contracts

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

Default of Tenant. The occurrence 17 a. In the event of any failure of Tenant to pay any Base Rent, Additional Rent or other amounts due hereunder within five (5) days after the same shall be due, or any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant with all reasonable diligence, but in any event for more than thirty (30) days after written notice of such failure shall have been given to Tenant, or if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings, or any person shall file against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant’s or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into any similar arrangement, or if any guarantor of this Lease shall be in default in the performance of any covenant, duty or obligation under any guaranty or other agreement entered into with or in favor of Landlord and such default shall remain uncured for a period of thirty (30) days or more after notice of such default, or if Tenant shall abandon or vacate the Demised Premises or suffer this Lease to be taken under any writ of execution (any one or more of the following events foregoing shall constitute a default and breach an “Event of this Lease by Tenant: (a) Tenant's failure to pay Default”), then in any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, event Tenant shall not be deemed to be in default if within hereunder, and Landlord, in addition to any other rights and remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Demised Premises and such 30 day period it commences to cure property may be removed and diligently prosecutes such cure to completion; (d) stored in a public warehouse or elsewhere at the levy of a writ of attachment or execution on this Lease or on any sole cost of, and for the account of Tenant's property located in the Premises; (e) the making by Tenant , all without service of a general assignment for the benefit notice or resort to legal process and without being guilty of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawstrespass, or the assumption by becoming liable for any court loss or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs damage which cannot reasonably may be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionoccasioned thereby.

Appears in 2 contracts

Samples: Lease (Wireless Ronin Technologies Inc), Lease (Wireless Ronin Technologies Inc)

Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 days are reasonably required to cure such default, Tenant or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant’s right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 2 contracts

Samples: Lease (RMR Group Inc.), Lease (Reit Management & Research Inc.)

Default of Tenant. The occurrence Provided and it is hereby expressly agreed that if and whenever the Annual Rent or Additional Rent hereby reserved or any part thereof shall not be paid on the day appointed for payment thereof, whether lawfully demanded or not, or in case of breach or non-observance or non-performance of any one or more of the following events covenants, agreements, provisos, conditions or Rules and Regulations on the part of the Tenant to be kept, observed or performed, or in case the Leased Premises shall constitute a default be vacated or remain unoccupied for fifteen (15) days or in case the Term shall be taken in execution or attachment for any cause whatever, then and breach in every such case, it shall be lawful for the Landlord thereafter to enter into and upon the Leased Premises or any part thereof in the name of the whole and the same to have again, repossess and enjoy as of its former estate, anything in this Lease contained to the contrary notwithstanding other than the proviso to this paragraph; PROVIDED that the Landlord shall not at any time have the right to re-enter and forfeit this Lease by reason of the Tenant: (a) Tenant's failure to pay any ’s default in the payment of the rent or charges required to be paid reserved by Tenant under this Lease, except as otherwise provided herein, where such failure continues for unless and until the Landlord shall have given to the Portions of this Exhibit were omitted and have been filed separately with the Secretary of the Commission pursuant to the Company’s application requesting confidential treatment under Rule 406 of the Securities Act. Tenant written notice setting forth the default complained of and the Tenant shall have the right during five (5) business days after next following the date on such notice from Landlord; (b) Tenant's abandonment to cure any such default in payment of rent. In case without the written consent of the demised Premises; (c) Tenant's failure to promptly and fully perform Landlord, the Leased Premises shall be used by any other covenant, condition person than the Tenant or agreement contained for any other purpose than that for which the same were let or in this Lease where such failure continues for 30 days after written notice from Landlord to case the Term or any of the goods and chattels of the Tenant shall be at any time seized in execution or attachment by any creditor of such default provided that the Tenant or if the nature Tenant makes any bulk sale, then in any such case this lease shall, at the option of the default is such that more than 30 days are reasonably required to cure such defaultLandlord, Tenant cease and determine and the Term shall not be deemed to be immediately become forfeited and void in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) accordance with the levy provisions of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangementSection 15, compositionRIGHT OF TERMINATION, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionherein.

Appears in 2 contracts

Samples: Indemnity Agreement (Coley Pharmaceutical Group, Inc.), Indemnity Agreement (Coley Pharmaceutical Group, Inc.)

Default of Tenant. The occurrence of any one or more of It is mutually agreed that in the following events shall constitute a default and breach of this Lease by Tenantevent: (a) Tenant's failure the rent herein reserved is not paid at the time and place when and where due and Tenant fails to pay any said rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for within five (5) business days after written demand from Landlord; or (b) Tenant will fail to comply with any material term, provision, condition, or covenant of this Lease, other than the payment of rent, and will not cure such failure within thirty (30) days after notice from Landlord; (b) Tenant's abandonment to Tenant of such failure to comply or such additional time period as may reasonably be necessary to effect a cure of the demised Premisesdefault provided that Tenant commences and diligently pursues a cure of the default; or (c) Tenant's failure Tenant causes any lien to promptly be placed against the Premises and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 does not cure the same within thirty (30) days after written notice from Landlord to Tenant demanding cure, THEN in any of such default provided that if events, Landlord will have the nature option to do any of the default is following, in addition to, and not in limitation of any other remedy permitted by law or by this Lease: (i) Landlord may terminate this Lease, in which event Tenant will immediately surrender the Premises to Landlord. Tenant agrees to indemnify Landlord for all loss and damage which Landlord may suffer by reason of such that more than 30 days are reasonably required termination, whether through inability to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in relet the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agencythrough decrease in rent, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertyotherwise; or (fii) Landlord, as Tenant's agent, without terminating this Lease, may terminate Tenant's right of possession, and, at Landlord's option, enter upon and rent the Premises at the best price obtainable by reasonable effort, without advertisement and by private negotiations and for any term Landlord deems proper. Tenant will be liable to Landlord for the deficiency, if any, between Tenant's rent hereunder and the interest price obtained by Landlord on reletting. Pursuit of Tenant under any of the foregoing remedies will not preclude pursuit of any of the other remedies herein provided or any other remedies provided by law. In any case, Landlord will use best efforts to mitigate Tenant's damages. Any notice in this provision may be given by Landlord or its attorney. No termination of this Lease is held prior to the normal ending thereof, by a partnership or by more than one person or entitylapse of time otherwise, will affect Landlord's right to collect rent for the occurrence of any act or event described in part (e) above in respect of any partner of period prior to the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completiontermination thereof.

Appears in 2 contracts

Samples: Lease Agreement (Hughes Supply Inc), Lease Agreement (Hughes Supply Inc)

Default of Tenant. The occurrence of (a) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges under this Lease when due or more of the following events shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after written notice from Landlord; Landlord designating such default, or (b) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (a) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day thirty (30)-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completion; completion as soon as possible, but in no event later than sixty (d60) days from the levy date of Landlord’s notice to Tenant specifying the default, then, and in any of such cases indicated in clauses (a) and (b) hereof (collectively and individually, a writ “Default of attachment Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, acting through its employees, agents or execution on servants, immediately or at any time thereafter, terminate this Lease or by notice to Tenant in the manner provided in Section 10.1, and shall have the immediate right to re-enter and repossess the Premises, whereupon on any the date specified in such notice, the term of this Lease and all of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant ’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: Lease (Cytek BioSciences, Inc.)

Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure to pay any If the rent or charges required any part thereof shall be unpaid for fifteen days after the same becoming payable (whether formally demanded or not) or if the Tenant shall fail or neglect to perform or observe any of the terms and conditions herein contained and on its part to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition performed or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that observed or if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default become bankrupt or if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; the Tenant (dif a limited company) shall go into liquidation (whether compulsory or voluntary except for the levy purpose of amalgamation of a writ solvent company) or shall enter into any composition of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of arrangement with its creditors or of an arrangement, composition, extension shall suffer its goods or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by chattels to be levied in execution then and in any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises said cases it shall be lawful for the Landlord at any time thereafter (with or of Tenant without notice to the Tenant) to re-enter upon the said premises or any substantial part thereof in the name of its assets or property; or the whole and thereupon this Agreement shall absolutely determine and the said deposit so paid as aforesaid shall be absolutely forfeited to the Landlord (fas liquidated damages and not as penalty) if but without prejudice to any right of action of the interest of Landlord against the Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner breach of the partnership Tenant’s terms and conditions herein contained. All costs and expenses incurred by the Landlord in demanding the rent and other moneys and in recovering vacant possession of the said premises from the Tenant, including legal costs and expenses of the Landlord of all proceedings between the Landlord and the Tenant in respect of the enforcement of the terms and provisions of this Tenancy Agreement or otherwise, shall be paid or repaid by the Tenant to the Landlord on a solicitors-and-own-client basis and shall be recoverable from it as a debt together with interest thereon as hereinafter provided. A written notice served by the Landlord on the Tenant or left at the said premises to the effect that the Landlord thereby exercises the power of re-entry herein contained shall be a full and sufficient exercise of such power notwithstanding any person statutory or entity holding an interest in Tenant of 25% or morecommon law provisions to the contrary. In Further, the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be pay to the Landlord interest at the rate of 2% over and above the Prime rate per annum quoted by The Hongkong and Shanghai Banking Corporation Limited from time to time (subject to penalty fluctuation) on any sum due and payable by the Tenant to the Landlord under this Lease so long as Tenant prosecutes such corrective action diligently and continuously Agreement from the due date to completionthe date of full payment.

Appears in 1 contract

Samples: Tenancy Agreement (Memec Inc)

Default of Tenant. The occurrence of A. If any one or more of the following events occurs: (1) a rent payment or any other payment due from Tenant to Landlord shall constitute be and remain unpaid in whole or in part for more than ten (10) days after Tenant’s receipt of written notice that the same is past due, provided however that Landlord shall only be obligated to provide two (2) such notices in any 12-month period, and thereafter it shall be a default if a rent payment or any other payment due from Tenant to Landlord shall be and breach remain unpaid in whole or in part for more than ten (10) days after the same is due; (2) Tenant shall violate or default on any of this Lease by Tenant: (a) Tenant's failure to pay any rent the other covenants, agreements, stipulations or charges required to be paid by Tenant under this Lease, except as otherwise provided conditions herein, where and such failure continues violation or default shall continue for five a period of thirty (530) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such violation or default (which 30-day period shall be subject to reasonable extension, up to a total of 60 days, provided Tenant has commenced cure and is diligently pursuing the same to completion), except that if the nature of the default is such that more than 30 days are reasonably required a specific time period following notice by Landlord for Tenant to cure such defaultviolation or default is set forth elsewhere in this Lease Agreement, no additional period of notice and cure shall be afforded under this Article; (3) Tenant shall commence or have commenced against Tenant proceedings under a bankruptcy, receivership, insolvency or similar type of action; or (4) Tenant shall purport to assign this Lease Agreement or sublet, license, mortgage or transfer this Lease Agreement or the Premises hereunder in violation of the provisions of Article 16 of this Lease Agreement; then it shall be optional for Landlord, without further notice or demand, to cure such default or to declare this Lease Agreement forfeited and the said Term ended, or to terminate only Tenant's right to possession of the Premises, and to re-enter the Premises, subject to applicable Laws, and Landlord shall not be deemed to be in default if within liable for damages by reason of such 30 day period it commences to cure and diligently prosecutes such cure to completionforfeiture or re-entry; (d) the levy of a writ of attachment but notwithstanding re-entry by Landlord or execution on this Lease or on any termination only of Tenant's property located in right to possession of the Premises; (e) , the making by liability of Tenant of a general assignment for the benefit rent and all other sums provided herein shall not be relinquished or extinguished for the balance of its creditors the Term of this Lease Agreement and Landlord shall be entitled to periodically xxx Tenant for all sums due under this Lease Agreement or of an arrangementwhich become due prior to judgment, compositionbut such suit shall not bar subsequent suits for any further sums coming due thereafter. Tenant shall be responsible for, extension or adjustment with its creditorsin addition to the rentals and other sums agreed to be paid hereunder (as more particularly set forth below), the filing reasonable cost of any necessary maintenance, repair, restoration, reletting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorneys’ fees incurred or awarded in any suit or action instituted by or against Tenant Landlord to enforce the provisions of a petition for relief or other proceeding under this Lease Agreement, regain possession of the federal bankruptcy laws or state or other insolvency lawsPremises, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control collection of the Premises rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of five percent (5%) of the rental installment or other sum due Landlord hereunder if said payment has not been received within ten (10) days from the date said payment becomes due and payable. Tenant agrees to pay interest at the rate of Tenant ten percent (10%) per annum or any substantial part the maximum permissible rate under the applicable usury statutes, whichever is less, on all rentals and other sums due Landlord hereunder not paid within ten (10) days from the date same become due and payable. All of its assets or property; or (f) if the interest of Tenant Landlord’s rights and remedies under this Lease is held by a partnership Agreement shall be cumulative with and in addition to any and all rights and remedies which Landlord may have at law or by more than one person in equity. Any specific right or entity, the occurrence remedy provided for in any provision of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant this Lease Agreement shall not be subject preclude the concurrent or consecutive exercise of a right or remedy provided for in any other provision hereof. Landlord shall exercise at least the level of effort required by applicable Laws to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionmitigate its damages.

Appears in 1 contract

Samples: Lease Agreement (SomaLogic, Inc.)

Default of Tenant. The occurrence of (i) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one or more other charges under this Lease within five (5) days of the following events date when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.10 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice pursuant to Section 10.1 thereof from Landlord; , or (bii) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (i) Tenant has not cured the default or defaults so specified; or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completion; completion within such additional time as may be necessary, but in no event to exceed sixty (d60) days from the levy date of Landlord’s notice to Tenant specifying the default, or (iii) if there shall be a writ default of attachment Tenant’s obligations under any lease between Landlord and Tenant for any space in the Building, which default continues beyond applicable notice and cure periods, then, and in any of such cases indicated in clauses (i), (ii) and (iii) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or execution on at any time thereafter give notice to Tenant terminating this Lease or and the term hereof, which notice shall specify the date of termination, whereupon on any the date so specified, the term of this Lease and all of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant ’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: AxoGen, Inc.

Default of Tenant. The occurrence of any one or more of the following events shall constitute a events of default and breach (each an “Event of this Lease by Tenant: (aDefault”) Tenant's failure to pay any rent or charges required to be paid by Tenant under this LeaseLease and, except as otherwise in any such event, Landlord shall be entitled to exercise any remedies provided herein, where such failure continues herein or that may be available at law or in equity. An Event of Default shall occur if: The Premises shall become vacant or deserted during the Term for five a period of more than thirty (530) consecutive business days other than for reasons beyond the reasonable control of Tenant; Default be made in the payment of rental including, but not limited to, additional rental or any part thereof and such default shall continue for a period of fifteen (15) days after written notice thereof from Landlord; Tenant shall fail, within thirty (b30) Tenant's abandonment days after receiving any notice of violations thereof to comply (or if same reasonably cannot be complied with in thirty (30) days if Tenant fails to commence compliance within thirty (30) days or fails to complete compliance within a reasonable period thereafter) with any Laws now in force or that may hereinafter be in force, pertaining to all or any part of the demised Premises; (c) Tenant's failure Tenant fails to promptly maintain any insurance coverages that it is required to maintain under this Lease; Default be made in the performance of any of the other terms, covenants, and fully perform any other covenant, condition or agreement contained conditions in this Lease where (including, but not limited to, the Rules and Regulations on part of Tenant to be kept or performed), and such failure continues default remains uncured for 30 a period of thirty (30) days after written notice from Landlord to Tenant of that such default provided has occurred, provided, however, that if such period shall be extended in the nature of event the default is such that more than 30 days are reasonably required cure was diligently commenced and pursued to cure such default, Tenant shall completion and could not be deemed to be in default if reasonable have been completed within such 30 day period it commences to cure and diligently prosecutes such cure to completionthirty (30) days; (d) At any time during the levy Term, proceedings shall be commenced by Tenant in bankruptcy or for reorganization or for the readjustment of debts under the Bankruptcy Code or under any other Law, now or hereafter existing for the relief of debtors, or a writ receiver or trustee is appointed for Tenant or for any substantial part of attachment its assets, or execution on this Lease any proceeding is commenced for dissolution, or on any the full or partial liquidation, of Tenant's property located in the Premises; (e) the making by , or Tenant of a general makes an assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.

Appears in 1 contract

Samples: Lease Agreement (Mercantile Bankshares Corp)

Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business Lease within 5 days after of Landlord's delivery of written notice from Landlordto Tenant that said amounts are past due; (b) Tenant's abandonment or vacation of the demised Premisespremises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's the property of Tenant located in the Premisespremises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, ; (f) the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, which petition in not removed or which action is not dismissed within 90 days of its filing, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises premises or of Tenant or any substantial part of its assets or property; or (fg) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part parts (e) or (f) above in respect of any partner of the partnership or any person or entity holding an interest partnership. Except as otherwise specified by this paragraph, in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.

Appears in 1 contract

Samples: Pixar \Ca\

Default of Tenant. The occurrence (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or regularly scheduled payments of Additional Rent under this Lease when due, or if Tenant shall default in its obligations to pay any one invoice for Additional Rent or more of the following events any other charges or amounts under this Lease when due and if any such default shall constitute a continue for seven (7) days after notice from Landlord designating such default, or (II) shall default and breach in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bIII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clauses (I) or (II) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days using diligent efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completioncompletion within such additional time as may be necessary, but in no event to exceed ninety (90) days from the date of Landlord’s notice to Tenant specifying the default (which 90-day period shall be extended on a day for day basis for each day that Tenant’s cure is delayed solely due to Force Majeure events or Landlord-cause delays); or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant's right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: Ultragenyx Pharmaceutical Inc.

Default of Tenant. The occurrence of If any one Base Rent or more Additional Rent reserved, or any part thereof, shall be and remain unpaid for ten (10) days after the date such payment is due, or if Tenant violates or defaults in any of the following events shall constitute a default and breach other provisions of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure which violation or default continues for five a period of thirty (530) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from thereof has been given by Landlord to Tenant, then Landlord may re-enter the Premises with or without legal process, by force if necessary, and either terminate this Lease or Tenant's right of possession. No such re-entry shall terminate this Lease unless Landlord gives Tenant a written notice of such default provided termination. Notwithstanding any re-entry, the liability of Tenant for Base Rent and Additional Rent shall not be extinguished for the balance of the term hereof, and Tenant shall continue to make payments of Base Rent and Additional Rent and all other sums due hereunder as and when due, except that if Landlord relets the nature of the default is such that more than 30 days are reasonably required Premises, which it shall be under no obligation to cure such defaultdo, Tenant shall be entitled to receive a credit against the payments otherwise due hereunder in the amount of the net proceeds of such reletting. The net proceeds of any reletting shall be determined by deducting from the gross rentals received the costs of any such reletting, including, but not limited to, brokerage fees, alterations , rent concessions, and legal fees. The foregoing remedies shall not be deemed exclusive and, in addition to be the rights reserved pursuant to paragraph 14 above, Landlord reserves the right to exercise any other remedy provided for at law or in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or moreequity. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time periodaddition, Tenant shall not be subject to penalty liable for Landlord's costs and expenses, including legal fees, incurred in enforcing its rights under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionLease.

Appears in 1 contract

Samples: Lease and Option Agreement (Workflow Management Inc)

Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges under this Lease when due or more of the following events shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 days are reasonably required to cure such default, Tenant or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant or any guarantor of a general assignment Tenant for the benefit of its creditors creditors; or of an arrangement(c) if Tenant's leasehold interest shall be taken on execution; or (d) if a involuntary lien or other involuntary encumbrance shall be filed against Tenant's leasehold interest or Tenant's other property, compositionincluding said leasehold interest, extension or adjustment with its creditors, the filing by or against Tenant the property of any guarantor of Tenant, and shall not be discharged or a bond obtained in lieu of discharge within ten (10) days thereafter; or (e) if a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption shall be filed by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part guarantor of its assets Tenant for liquidation, or propertyfor reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant or any guarantor of Tenant under this Lease is held by and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a partnership custodian or by more than one person similar agent shall be authorized or entityappointed to take charge of all or substantially all of the assets of Tenant or any guarantor of Tenant; or (h) if Tenant or any guarantor of Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the occurrence result of which is intended to include dissolution or liquidation; or (i) if any act order shall be entered in any proceeding by or event described in part (e) above in respect of any partner of the partnership against Tenant or any person guarantor of Tenant decreeing or entity holding an interest in permitting the dissolution of Tenant or any guarantor of 25% Tenant or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and winding up of its affairs; or (j) if Tenant commences corrective action within said time periodshall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord's approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a "DEFAULT OF TENANT"), Landlord and the agents and servants of Landlord lawfully may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter mail a notice of termination addressed to Tenant, and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be subject to penalty under used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid the term of this Lease shall terminate, and Landlord may store Tenant's effects, and those of any person claiming through or under Tenant, at the expense and risk of Tenant, and, if Landlord so long as Tenant prosecutes elects, may sell or otherwise dispose of such corrective action diligently effects at public auction or private sale or otherwise and continuously apply the net proceeds (if any) to completionthe payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.

Appears in 1 contract

Samples: Perficient Inc

Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges under this Lease when due or more of the following events shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 days are reasonably required to cure such default, Tenant or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant or any guarantor of a general assignment Tenant for the benefit of its creditors creditors; or of an arrangement(c) if Tenant's leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant's leasehold interest or Tenant's other property, compositionincluding said leasehold interest, extension or adjustment with its creditors, the filing by or against Tenant the property of any guarantor of Tenant, and shall not be discharged within ten (10) days thereafter; or (e) if a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption shall be filed by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part guarantor of its assets Tenant for liquidation, or propertyfor reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant or any guarantor of Tenant under this Lease is held by and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a partnership custodian or by more than one person similar agent shall be authorized or entityappointed to take charge of all or substantially all of the assets of Tenant or any guarantor of Tenant; or (h) if Tenant or any guarantor of Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the occurrence result of which is intended to include dissolution or liquidation; or (i) if any act order shall be entered in any proceeding by or event described in part (e) above in respect of any partner of the partnership against Tenant or any person guarantor of Tenant decreeing or entity holding an interest in permitting the dissolution of Tenant or any guarantor of 25% Tenant or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and winding up of its affairs; or (j) if Tenant commences corrective action within said time periodshall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord's approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a "DEFAULT OF 217 TENANT"), Landlord and the agents and servants of Landlord lawfully may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter mail a notice of termination addressed to Tenant, and repossess the same as of Landlord's former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice to any remedies which might otherwise be subject to penalty under used for arrears of rent or prior breach of covenant, and upon such entry or mailing as aforesaid the term of this Lease shall terminate, and Landlord, without notice to Tenant, may store Tenant's effects, and those of any person claiming through or under Tenant, at the expense and risk of Tenant, and, if Landlord so long as Tenant prosecutes elects, may sell or otherwise dispose of such corrective action diligently effects at public auction or private sale or otherwise and continuously apply the net proceeds (if any) to completionthe payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant.

Appears in 1 contract

Samples: Sonesta International Hotels Corp

Default of Tenant. The occurrence If tenant shall (i) fail to pay any monthly installment of rent (as required by Article 3 hereof) or shall fail to timely make any one other payment required by the terms and provisions hereof (although no legal or more formal demand has been therefore) , or (ii) violate or fail to perform any of the following events other terms, conditions, covenants or agreements herein made by tenant, or (iii) abandon or vacate the premises, and such failure to pay rent, such other violation or failure or such abandonment shall constitute continue for a default period of time of five (5) days after written notice thereof to Tenant by landlord, or (iv) make or consent to an assignment for the benefit of creditors or a common law composition of creditors, or receiver of Tenant's assets is appointed or tenant files a voluntary petition in any bankruptcy or insolvency proceeding, or an involuntary proceeding is filed against Tenant and breach not discharged by the Tenant within sixty (60) days, or Tenant is adjudicated a bankrupt, then, and in any of said events, this lease shall, at the option of the landlord, cease and terminate and the provisions of this Article "15" shall automatically operate as a notice to quit--any notice to quit, or of Landlords intention to re-enter, required by law or otherwise being hereby expressly waived--and Landlord may proceed to recover possession under and by virtue of the provisions of the laws of the State of Maryland or by such other proceedings, including re-entry and possession, as may be applicable. If landlord elects to terminate this lease, everything contained in this Lease on the part of the Landlord to be done and performed shall cease without prejudice, however, to the right of the Landlord to recover from tenant all rent and any other sums accrued up to the time of termination or recovery of possession by the landlord, whichever is later. Should this Lease be terminated before the expiration of the term of this Lease by Tenant: (a) reason of Tenant's failure default as hereinabove provided, or if tenant shall abandon or vacate the premises before the expiration date of the term of this Lease the premises may be relet by landlord for such rent and upon such terms as are not unreasonable under the circumstances and, if the full rental hereinabove provided (and any other costs, expenses, or damages indicated below) shall not be realized Landlord, Tenant shall be liable for all damages sustained by landlord including, without limitation, deficiency in rent, reasonable attorney's fees, real estate brokers' or agents fees and commissions, and expenses of placing the premises in first class rentable condition. Any damage or loss of rent sustained by Landlord may be recovered by Landlord, at Landlords' option, at the time of the relettings, or in separate actions, from time to pay any rent or charges required to be paid time, as said damages shall have been made more easily ascertainable by Tenant under successive expiration of the term of this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment in which event Tenant hereby agrees that the cause of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant action shall not be deemed to have occurred until the date of expiration of said term. The provisions contained in this paragraph shall be in default if within such 30 day period it commences addition to cure and diligently prosecutes such cure to completion; (d) shall not prevent the levy enforcement of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment claim Landlord may have against tenant for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control anticipatory breach of the Premises or unexpired term of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionLease.

Appears in 1 contract

Samples: Commercial Lease (Hunapu Inc)

Default of Tenant. The occurrence If Tenant shall fail to pay any monthly installment of rent when due as aforesaid and such failure shall continue for a period of ten (10) days after written notice thereof to the Tenant by Landlord, or shall violate or fail to perform any one or more of the following other conditions, covenants or agreements herein made by Tenant, and such violation or failure shall continue for a period of thirty (30) days after written notice thereof to the Tenant by Landlord (unless Tenant has commenced and is diligently pursuing completion of such cure within the 30-day period, Tenant shall have such time as is reasonably necessary to complete such cure), then and in any of said events this Lease shall, at the option of Landlord, cease and terminate and shall constitute operate as a default notice to quit, any notice to quit or of Landlord’s intention to re-enter being hereby expressly waived, and breach Landlord may proceed to recover possession under and by virtue of the provisions of the laws of the State of Virginia or by such other legal proceedings, as may be applicable. If Landlord elects to terminate this Lease, everything herein contained on the part of Landlord to be done and performed shall cease without prejudice, however, to the right of Landlord to recover from Tenant all rental accrued up to the time of termination of recovery of possession by Landlord, whichever is later. Should this Lease be terminated before the expiration of the term of this Lease by reason of Tenant: (a) Tenant's failure to pay any rent ’s default as hereinabove provided, or charges required to be paid by if Tenant under shall abandon or vacate the demised Premises before the expiration or termination of the term of this Lease, except the demised Premises may be relet by Landlord for such rent and upon such terms as otherwise are not unreasonable under the circumstance, and if the full rental hereinabove provided hereinshall not be realized by Landlord, where such failure continues Tenant shall be liable for five (5) business days after notice from all damages sustained by Landlord; (b) , including, without limitation, deficiency in rent, reasonable attorney’s fees, brokerage fees, and expenses of placing the Premises in rentable condition. Any damage or loss of rental sustained by Landlord may be recovered by Landlord, at Tenant's abandonment ’s option, at the time of the demised Premises; (c) Tenant's failure re-letting, or in separate actions, from time to promptly and fully perform any other covenanttime, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature as said expiration of the default is such that more than 30 days are reasonably required to cure such defaultterm of this Lease, Tenant in which event the cause of action shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) have accrued until the levy date of a writ expiration of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.Initials TD / Illegible

Appears in 1 contract

Samples: Website Pros Inc

Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's In the event (i) of any failure of Tenant to pay any rent rental or other charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues due hereunder for five more than ten (510) business days after written notice from Landlordof such default shall have been received by Tenant; or (bii) Tenant's abandonment of the demised Premises; (c) Tenant's any failure to promptly and fully perform any other covenantof the terms, condition conditions or agreement contained in covenants of this Lease where such (other than the covenants for the payment of rent) to be observed or performed by Tenant, including without limitation the failure continues of Tenant to maintain in effect any licence or permit necessary for 30 the use, occupancy or operation in the Demised Premises in accordance with this Lease or a breach of Section 4 of this Lease concerning Tenant’s use of the Demised Premises, for more than twenty (20) days after written notice from Landlord to Tenant of such default provided shall have been received by Tenant (unless a shorter period is specified herein with respect to a specific failure); provided, however, that if the nature curing of the such default is such that more than 30 days are shall reasonably required to cure such defaultrequire in excess of 20 days, Tenant shall not be deemed to be in default hereunder if Tenant shall commence to cure such default within such 30 day 20 days period it commences to cure and thereafter diligently prosecutes such cure to completion; completion or (diii) Tenant shall abandon the levy Demised Premises prior to the last three (3) months of a the term (provided that Tenant’s mere vacating of the Demised Premises shall not be deemed to be abandonment provided that Tenant continues to pay rent and perform all obligations under this Lease) or permits this Lease to be taken under any writ of attachment execution; or execution on this Lease (iv) Tenant assigns, mortgages, sublets, encumbers or on in any of Tenant's property located manner transfers the Demised Premises or its interest in the PremisesLease without Landlord’s consent; or (ev) the making by Tenant of a general makes an assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a allows any petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawslaw, or the assumption appointment of a trustee or receiver of Tenant, or its assets, or the estate created hereby shall be taken in execution or by other process of law or Tenant shall be adjudicated insolvent or bankrupt pursuant to the provisions of any court state or administrative agencyfederal insolvency or bankruptcy act, or if a receiver or trustee of the property of Tenant shall be appointed by reason of the insolvency or inability of Tenant to pay its debts, or if any assignment shall be made of the property of Tenant for the benefit of creditors; or (vi) Tenant shall be liquidated or dissolved or shall begin proceedings towards its liquidation or dissolution, then, unless such failure is caused directly or indirectly by the failure of the Landlord to provide the services under Section 28 hereof, the Oshawa Labour and Management Services Agreement or the ASA, or by the performance or non-performance of employees of the Landlord pursuant to Section 4(f) hereof, Landlord, besides other rights or remedies it may have, shall have the right to declare this Lease terminated and the term ended and/or shall have the immediate right of re-entry and may remove all persons and property from the Demised Premises and such property may be removed and stored in a receiverpublic warehouse or elsewhere at the cost of, trustee or custodian appointed by eitherand for the account of Tenant, without evidence, of jurisdictionnotice or resort to legal process and without being deemed guilty of trespass, custody or control of the Premises becoming liable for any loss or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs damage which cannot reasonably may be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionoccasioned thereby.

Appears in 1 contract

Samples: Management Services Agreement (Delphi Corp)

Default of Tenant. The occurrence of any one If and whenever all or more part of the following events shall constitute a default and breach of this Lease Minimum Rent or any other amounts payable by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid by the Tenant under this LeaseLease are not paid on the day appointed for payment, except as otherwise provided hereinwhether demand for payment has been made or not, where or if the Tenant shall fail to comply with any of the covenants hereunder after the Landlord has given notice to the Tenant in writing stating the default with reasonably sufficient particulars and requiring it to be remedied and such failure continues for five default has not been remedied by the Tenant within fourteen (514) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant receipt of such default provided that if notice, or such longer period as may be reasonably necessary in view of the nature of the default is such that more than 30 days are reasonably default, or if the Tenant shall falsify any report required to cure such default, Tenant shall not be deemed furnished to be in default if within such 30 day period it commences the Landlord pursuant to cure and diligently prosecutes such cure to completion; (d) the levy terms of a writ of attachment or execution on this Lease or on if the Tenant or any indemnifier of this Lease shall become bankrupt or insolvent or file any proposal, or if a Receiver is appointed of all or a portion of the Tenant’s property or any such indemnifier’s property, or if the Tenant makes a sale in bulk, or if the Tenant shall abandon the Premises, or suffer this Lease or any of Tenant's property located its assets to be taken under any writ of execution or like process, or if the Tenant creates a security interest in the Premises; (e) personal property of the making by Tenant in the Premises in favour of a general assignment for third party or if any notice is filed under section 49 of the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control Personal Property Security Act in respect of the Premises or if re-entry is permitted under any other terms of this Lease, then the Landlord, in addition to any other rights or remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Premises and such property may be removed and stored for the account of the Tenant or be sold by the Landlord (and at the sole option of the Landlord, by way of private sale to the Landlord or any substantial part third party) all without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby and to have again, repossess and enjoy the Premises as of its assets or property; or (f) if former estate whether the interest of Tenant under Landlord terminates this Lease is held or not, and notwithstanding the retaking of possession of the Premises by a partnership or by more than one person or entitythe Landlord, the occurrence Landlord specifically reserves all remedies and rights of action herein or at law or in equity provided. The Landlord or its duly authorized agent shall be entitled to distrain for the Rent hereby reserved including accelerated rent, if any, or for any money hereby made recoverable by distress upon the goods and chattels of the Tenant, wheresoever situate, and upon any premises to which the same may have been removed or wherever the same may be found. The Tenant hereby waives and renounces the benefit of any act present or event described in part (e) above in respect future legislation taking away or limiting a Landlord’s right of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completiondistress.

Appears in 1 contract

Samples: Lease

Default of Tenant. The occurrence of any one (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or more of the following events Additional Rent when due or shall constitute a default and breach in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after written notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 days are reasonably required to cure such default, Tenant or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or of (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if an arrangement, composition, extension involuntary lien or adjustment with its creditors, other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s property at the filing Premises and shall not be discharged within sixty (60) days after Tenant shall have been given notice thereof by any party; or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; (j) if Tenant shall fail to deposit the second half of the Security Deposit with Landlord by April 5, 2013 in accordance with Section 4.7, or (k) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent within five (5) days after the date the same is due, then, and in any of such cases indicated in clauses (a) through (k) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant’s right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: Lease (Mimedx Group, Inc.)

Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, provided that if Tenant is proceeding in good faith and with due diligence to complete the nature cure of the default any such non-monetary performance breach which is such that more than 30 days are curable but cannot reasonably required to cure such defaultbe cured within thirty (30) days, Tenant shall will not be deemed to be held in default if within such 30 day period it commences to cure and diligently prosecutes for not completing such cure within thirty (30) days so long as Tenant is diligently and continuously proceeding to completioncomplete such cure; or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement, composition, extension (c) if Tenant’s leasehold interest shall be taken on execution; or adjustment with its creditors, the filing by (d) if a lien or other involuntary encumbrance shall be filed against Tenant of Tenant’s leasehold interest or Tenant’s other property and shall not be discharged within thirty (30) days thereafter; or (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be stayed, dismissed or vacated within sixty (60) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant’s right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: Curis Inc

Default of Tenant. The occurrence If Tenant shall fail to pay any installment of rent on the day when the same shall become due and payable hereunder and shall continue in default for a period of ten (10) days after Landlord gives written notice thereof, or if Tenant shall fail to keep and perform any one or more of the following events shall constitute a default other terms, covenants, and breach conditions of this Lease by Tenant: on its part to be performed and shall continue in default for a period of thirty (a30) days after Landlord gives notice to Tenant of said default, then in said event, and as often as any said event shall occur, Landlord may, at Landlord's option, cure said default at Tenant's failure sole cost and expense, in which event any cost incurred by Landlord in curing said default shall become immediately due and payable from Tenant, together with interest thereon at the rate of 12% per annum, or Landlord may terminate this Lease and enter into the Leased Premises, or any part thereof, either with or without process of law, and expel Tenant, or any person occupying the Leased Premises, and use such force as may be necessary so to pay any rent or charges required do, and repossess and enjoy the Leased Premises as in Landlord's former estate, but Tenant shall remain fully liable hereunder for all rents and other sums to be paid and all covenants to be performed by Tenant during the remaining balance of the term of this Lease but subject to reduction in accordance with the next sentence. Landlord shall use all reasonable diligence to relet the Leased Premises, and in said event, Landlord, shall apply the rent received from any new tenant thereof on any balance due under this Lease, except as otherwise provided herein, where such failure continues and Tenant shall be responsible for five (5) business days after notice from Landlord; (b) Tenant's abandonment of no more than the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement remaining balance that may then be due hereunder. Notwithstanding anything contained in this Lease where such failure continues for 30 paragraph to the contrary, if any default shall occur, other than in the payment of money, which cannot with due diligence be cured within a period of thirty (30) days, and Tenant, prior to the expiration of thirty (30) days from and after written notice from Landlord the giving of notices as aforesaid, shall commence to Tenant eliminate the cause of such default provided that if the nature of the default is such that more than 30 days are reasonably said default, shall proceed diligently and with reasonable dispatch to take all steps and do all work required to cure such said default, and shall thereafter cure said default, then Landlord shall grant Tenant shall not be deemed to be in default if a reasonable extension of time within such 30 day period it commences which to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completiondefault.

Appears in 1 contract

Samples: Lease (Founders Food & Firkins LTD /Mn)

Default of Tenant. The occurrence of (i) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one or more other charges under this Lease within five (5) days of the following events date when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.10 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after notice pursuant to Section 10.1 thereof from Landlord; , or (bii) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (i) Tenant has not cured the default or defaults so specified; or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completion; completion within such additional time as may be necessary, but in no event to exceed sixty (d60) days from the levy date of Landlord’s notice to Tenant specifying the default, or (iii) if there shall be a writ default of attachment Tenant’s obligations under any lease between Landlord and Tenant for any space in the Building, which default continues beyond applicable notice and cure periods then, and in any of such cases indicated in clauses (i), (ii) and (iii) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or execution on at any time thereafter give notice to Tenant terminating this Lease or and the term hereof, which notice shall specify the date of termination, whereupon on any the date so specified, the term of this Lease and all of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant ’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: AxoGen, Inc.

Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure designating such default, or (II) if as promptly as possible but in any event within thirty (30) days after notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the Term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the Term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: Performance Technologies Inc \De\

Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant (collectively and individually, a “Default of Tenant: ”): (a) Tenant's failure (I) If Tenant shall default in its obligations to pay the Fixed Rent or Additional Rent or any rent other charges or charges required to be paid by Tenant amounts under this Lease, except as otherwise provided herein, where Lease when due or shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease and if any such failure continues default shall continue for five (5) business days Business Days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 or defaults so specified, provided that, if not curable with reasonable diligence within thirty (30) days are reasonably required but curable within one hundred twenty (120) days and Tenant has exercised reasonable diligence to cure such defaultfailure, no Default of Tenant shall not be deemed to be exist as long as Tenant shall in default if fact remedy such failure within such 30 120-day period it commences to cure and diligently prosecutes such cure to completionperiod; or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors and is not discharged within sixty (60) days; or (c) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest due to Tenant’s acts, and shall not be discharged within sixty (60) days thereafter; or (d) if a voluntary petition shall be filed by Tenant for liquidation, or for reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (e) if an arrangement, composition, extension involuntary petition under any of the provisions of any bankruptcy law or adjustment with its creditors, the filing by or code shall be filed against Tenant of a and such involuntary petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertyshall not be dismissed within one hundred twenty (120) days thereafter; or (f) if a receiver shall be authorized or appointed to take charge of all or substantially all of the interest assets of Tenant under this Lease and is held by a partnership not discharged within ninety (90) days; or by more than one person (g) if Tenant dissolves or entityshall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the occurrence result of which is intended to include dissolution or liquidation; or (h) if any act order shall be entered in any proceeding by or event described against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs and is not discharged within ninety (90) days. The notice periods provided herein are in part (e) above lieu of, and not in respect of addition to, any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionnotice periods provided by law.

Appears in 1 contract

Samples: Surgalign Holdings, Inc.

Default of Tenant. The occurrence If Tenant shall (a) fail to pay when due in the manner provided in Section 4(b) hereof any monthly installment of Base Rent or any one other charge or more payment required of Tenant hereunder (any such charge or payment being conclusively deemed to be additional rent payable hereunder), and such default continues for ten (10) days after Landlord gives Tenant a written notice specifying the failure, or (b) violate or fail to perform any of the following other conditions, covenants, or agreements herein made by Tenant, and such violation or failure shall continue for a period of thirty (30) days after written notice thereof to Tenant by Landlord, plus such additional period of time as may be reasonably necessary to cure such violation or failure, provided Tenant commences the cure within the 30-day period and prosecutes the same to completion with due diligence, or (c) vacate or abandon the demised premises, then in any of said events this Lease shall, at the option of Landlord, cease and terminate and shall constitute operate as a default notice to quit (any notice to quit or of Landlord's intention to re-enter being hereby expressly waived) and breach Landlord may proceed to recover possession under and by virtue of the provisions of the laws of the State of Maryland, or by such other proceedings, including re-entry and possession, as may be applicable. If Landlord elects to terminate this Lease, the obligations herein contained on the part of Landlord to be performed shall cease without prejudice; provided, however, that Landlord shall retain the right to recover from Tenant all rental and other charges accrued up to the time of such termination, or recovery of possession by Landlord, whichever is later. Should this Lease be terminated before the expiration of the term of this Lease by Tenant: (a) reason of Tenant's failure to pay any rent default as hereinabove provided, or charges required to be paid by if Tenant under shall abandon or vacate the demised premises before the expiration or termination of the term of this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure premises may be relet by Landlord, for such rent and upon such terms as Landlord is able to promptly and fully perform any other covenantobtain, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that and, if the nature of the default is such that more than 30 days are reasonably required to cure such defaultfull rental hereinabove provided shall not be realized by Landlord, Tenant shall not be deemed to be liable for all damages sustained by Landlord, including, without limitation, deficiency in default if within such 30 day period it commences to cure rent and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangementall other charges due hereunder, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.reasonable

Appears in 1 contract

Samples: Office Lease (Radio One Inc)

Default of Tenant. The occurrence of any one or more of the following events shall constitute a default and breach of this Lease by Tenant (collectively and individually, a “Default of Tenant: ”): (a) Tenant's failure (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any rent other charges or charges required to be paid by Tenant amounts under this Lease, except as otherwise provided herein, where Lease when due and if any such failure continues default shall continue for three (3) days after notice from Landlord designating such default or shall default in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease and if any such default shall continue for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and continuously prosecute such cure to completioncompletion within such additional time as may be necessary, but in no event to exceed forty-five (45) days from the date of Landlord’s notice to Tenant specifying the default; or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within sixty (60) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence provisions of any act bankruptcy law or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in code shall be filed against Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant such involuntary petition shall not be subject dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to penalty under this Lease so long as take charge of all or substantially all of the assets of Tenant; or (h) if Tenant prosecutes such corrective action diligently dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs. The notice periods provided herein are in lieu of, and continuously to completionnot in addition to, any notice periods provided by law.

Appears in 1 contract

Samples: Prometheus Biosciences, Inc.

Default of Tenant. The occurrence of any one or more of In the following events shall constitute a default and breach of this Lease by Tenant: event that Tenant (a) Tenant's fails to pay all or any portion of any sum due from Tenant hereunder when due and such failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five more than ten (510) business days after receipt of written notice from LandlordLandlord (provided that such ten (10) day grace period shall not be available more than three (3) times in any twelve (12) month period); (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure fails to promptly and fully perform any other covenantterms, condition covenants and conditions hereof, or agreement contained is otherwise in breach of any of Tenant's obligations hereunder or commits any other act or omission in violation of this Lease where and such failure to perform or violation continues for 30 more than thirty (30) days after receipt of written notice from Landlord to Tenant of (provided such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant thirty (30) day grace period shall not be deemed to be available more than three (3) times in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completionany twelve (12) month period); or (dc) becomes bankrupt, insolvent or files any debtor proceeding or takes or has taken against Tenant any petition of bankruptcy; takes action or has action taken against Tenant for the levy appointment of a writ of attachment receiver for all or execution on this Lease or on any a portion of Tenant's property located in the Premisesassets, files a petition for a corporate reorganization; (e) the making by Tenant of a general or makes an assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, (any or all of the filing by or against occurrences in this subsection 11.1 (c) shall be deemed a default on account of bankruptcy for the purposes hereof); then Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsshall be in default hereunder and Landlord may, or the assumption by any court or administrative agencyat its option and without further notice to Tenant, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control terminate Tenant's right to possession of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under and without terminating this Lease is held by a partnership re-enter and resume possession of the Premises and/or declare this Lease terminated, and may, thereupon, in either event remove all persons and property from the Premises with or by more than one person or entity, the occurrence without resort to process of any act court, either by force or event described in part (e) above in respect of otherwise. Notwithstanding such re-entry by Landlord, Tenant hereby indemnifies, protects, defends and holds Landlord harmless from any partner and all loss or damage which Tenant may incur by reason of the partnership or any person or entity holding an interest in Tenant termination of 25% or morethis Lease and/or Tenant's right to possession hereunder due to Tenant's default. In no event shall Landlord's termination of this Lease and/or Tenant's right of possession of the event a nonmonetary default occurs which cannot reasonably be cured within Premises abrogate Tenant's agreement to pay Rent and additional charges due hereunder for the time period specified above and Tenant commences corrective action within said time periodfull term hereof. Following re-entry of the Premises by Landlord, Tenant shall not promptly pay all arrearages then due and overdue and shall continue to pay all such Rent and additional charges as same become due under the terms of this Lease, together with all other expenses incurred by Landlord in regaining possession until such time, if any, as Landlord relets same and the Premises are occupied by such successor, it being understood that Landlord shall have no obligation to mitigate Tenant's damages by reletting the Premises. Upon reletting, sums received from such new lessee by Landlord shall be subject applied first to penalty under this Lease so long as payment of costs incident to reletting; any excess shall then be applied to any indebtedness to Landlord from Tenant prosecutes such corrective action diligently other than for Basic Rent; and continuously any excess shall then be applied to completionthe payment of Basic Rent due and unpaid. The balance, if any, shall be applied against the deficiency between all amounts received hereunder and sums to be received by Landlord on reletting, which deficiency Tenant shall pay to Landlord in full, within five (5) days of notice of same from Landlord. Tenant shall have no right to any proceeds of reletting that remain following application of same in the manner set forth herein.

Appears in 1 contract

Samples: Lease Agreement (Sunbelt Automotive Group Inc)

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Default of Tenant. The occurrence of If any one or more of the following events shall constitute a default and breach of this Lease by Tenantoccurs: (a1) Tenant's failure a rent payment or any other payment due from Tenant to pay any rent Landlord shall be and remain unpaid in whole or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues in part for five more than fifteen (515) business days after notice from Landlordsame is due and payable; (b2) Tenant's abandonment Tenant shall violate or default on any of the demised Premises; (c) Tenant's failure to promptly and fully perform other covenants, agreements, stipulations or conditions herein or in any other covenant, condition agreement between Landlord and Tenant relating to the Premises and such violation or agreement contained in this Lease where such failure continues defaults shall continue for 30 a period of thirty (30) days after written notice from Landlord to Tenant of such default provided that violation or default; (3) if Tenant or any guarantor of this Lease Agreement shall commence or have commenced against Tenant or any guarantor proceedings under a bankruptcy, receivership, insolvency or similar types of action; or (4) Landlord may, without process, re-enter immediately into the nature Leased Premises and remove all persons and property therefrom and at its option, cancel this Lease as to all future rights of Tenant, and regain, repossess, and enjoy the Premises, and Tenant hereby expressly waives the right of any notice in writing of intention to re-entry and also the right of restoration to possession of the default is such that more than 30 days are reasonably required to cure such defaultLeased Premises after re-entry or after judgment for possession thereof, Tenant shall not be deemed responsible for, in addition to the rentals and other sums agreed to be paid hereunder, the cost of any necessary maintenance, repair, restoration, relenting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorney's fees incurred or awarded in default if within such 30 day period it commences any suit or action instituted by Landlord to cure and diligently prosecutes such cure to completion; (d) enforce the levy provisions of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangementAgreement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control regain possession of the Premises or the collection of the rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of 10% of rental installment or any substantial part other sum due Landlord hereunder if said payment has not been received within ten (10) days from the date said payment becomes due and payable, or cleared by Landlord's bank within six (6) business days after deposit. Each night or remedy of its assets or property; or (f) if the interest of Tenant under Landlord provided for in this Lease is held by a partnership Agreement shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease Agreement now or hereafter existing at law or in equity or by more than one person statute or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionotherwise.

Appears in 1 contract

Samples: Lien and Agreement (Editek Inc)

Default of Tenant. The occurrence of A. If any one or more of the following events occurs: (1) a rent payment or any other payment due from Tenant to Landlord shall constitute be and remain unpaid in whole or in part for more than ten (10) days after Tenant’s receipt of written notice that the same is past due, provided however that Landlord shall only be obligated to provide two (2) such notices in any 12-month period, and thereafter it shall be a default if a rent payment or any other payment due from Tenant to Landlord shall be and breach remain unpaid in whole or in part for more than ten (10) days after the same is due; (2) Tenant shall violate or default on any of this Lease by Tenant: (a) Tenant's failure to pay any rent the other covenants, agreements, stipulations or charges required to be paid by Tenant under this Lease, except as otherwise provided conditions herein, where and such failure continues violation or default shall continue for five a period of thirty (530) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such violation or default (which 30-day period shall be subject to reasonable extension, up to a total of 60 days, provided Tenant has commenced cure and is diligently pursuing the same to completion), except that if the nature of the default is such that more than 30 days are reasonably required a specific time period following notice by Landlord for Tenant to cure such defaultviolation or default is set forth elsewhere in this Lease Agreement, no additional period of notice and cure shall be afforded under this Article; (3) Tenant shall commence or have commenced against Tenant proceedings under a bankruptcy, receivership, insolvency or similar type of action; or (4) Tenant shall purport to assign this Lease Agreement or sublet, license, mortgage or transfer this Lease Agreement or the Premises hereunder in violation of the provisions of Article 16 of this Lease Agreement; then it shall be optional for Landlord, without further notice or demand, to cure such default or to declare this Lease Agreement forfeited and the said Term ended, or to terminate only Tenant’s right to possession of the Premises, and to re-enter the Premises, subject to applicable Laws, and Landlord shall not be deemed liable for damages by reason of such forfeiture or re-entry; but notwithstanding re-entry by Landlord or termination only of Tenant’s right to possession of the Premises, the liability of Tenant for the rent and all other sums provided herein shall not be relinquished or extinguished for the balance of the Term of this Lease Agreement and Landlord shall be entitled to periodically xxx Tenant for all sums due under this Lease Agreement or which become due prior to judgment, but such suit shall not bar subsequent suits for any further sums coming due thereafter. Tenant shall be responsible for, in addition to the rentals and other sums agreed to be paid hereunder (as more particularly set forth below), the reasonable cost of any necessary maintenance, repair, restoration, reletting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorneys’ fees incurred or awarded in default if within such 30 day period it commences any suit or action instituted by Landlord to cure and diligently prosecutes such cure to completion; (d) enforce the levy provisions of a writ of attachment or execution on this Lease or on any Agreement, regain possession of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control collection of the Premises rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of five percent (5%) of the rental installment or other sum due Landlord hereunder if said payment has not been received within ten (10) days from the date said payment becomes due and payable. Tenant agrees to pay interest at the rate of Tenant ten percent (10%) per annum or any substantial part the maximum permissible rate under the applicable usury statutes, whichever is less, on all rentals and other sums due Landlord hereunder not paid within ten (10) days from the date same become due and payable. All of its assets or property; or (f) if the interest of Tenant Landlord’s rights and remedies under this Lease is held by a partnership Agreement shall be cumulative with and in addition to any and all rights and remedies which Landlord may have at law or by more than one person in equity. Any specific right or entity, the occurrence remedy provided for in any provision of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant this Lease Agreement shall not be subject preclude the concurrent or consecutive exercise of a right or remedy provided for in any other provision hereof. Landlord shall exercise at least the level of effort required by applicable Laws to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionmitigate its damages.

Appears in 1 contract

Samples: Lease Agreement (SomaLogic, Inc.)

Default of Tenant. The occurrence If TENANT shall fail to pay annual installment or item of rent on the date when the same becomes due or shall violate or fail to perform any one or more of the following events shall constitute a default and breach other conditions, covenants, or provisions of City of Miami Beach /CAA 10 • this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required Agreement to be paid observed and performed by Tenant under this LeaseTENANT, except as otherwise provided herein, where and if such violation or failure continues for five a period of thirty (530) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice thereof from Landlord LANDLORD, to Tenant of such default provided TENANT, except for failure to pay rent, which shall have a fifteen (15) day period for cure after written notice thereof from LANDLORD, to TENANT, then LANDLORD may at any time terminate this Lease Agreement upon seven (7) days written notice to TENANT; provided, however, that (except as to rent) if the nature of the default TENANT'S non - compliance is such that more than 30 thirty (30) days are reasonably required to cure such defaultfor its cure, Tenant then TENANT shall not be deemed to be in default if TENANT commenced such cure within such 30 thirty (30) day period it commences to cure and thereafter diligently prosecutes such cure to completion; . In the event of termination, LANDLORD shall also have the right to proceed with any remedy available at law or in equity in the State of Florida. All rights and remedies of LANDLORD under this Lease Agreement shall be cumulative and shall not be exclusive of any other rights and remedies provided to LANDLORD under applicable law, subject to the limitations of Section 768.28 of the Florida Statutes. ARTICLE XXVII WAIVER If, under the provisions hereof, LANDLORD or TENANT shall institute proceedings and a compromise or settlement thereof shall be made, the same shall not constitute a waiver of any covenant herein contained nor of any of LANDLORD's or TENANT's rights hereunder, unless expressly stated in such settlement agreement. No waiver by LANDLORD or TENANT of any provision hereof shall be deemed to have been made unless expressed in writing and signed by both parties. No waiver by LANDLORD or TENANT of any breach of covenant, condition, or agreement herein contained shall operate as a waiver of such covenant, condition, or agreement itself, or of any subsequent breach thereof. No payment by TENANT or receipt by LANDLORD of lesser amount than the monthly installments of rent (dor additional rent obligations stipulated herein) nor shall any endorsement or statement on any check or letter accompanying a check for payment of rent (or additional rent obligations as stipulated herein) or any other amounts owed to LANDLORD be deemed an accord and satisfaction and LANDLORD may accept such check or payment without prejudice to or waiver of LANDLORD's right to recover the levy balance of such rent (or additional rent obligations as stipulated herein) or other amount owed or to pursue any other remedy provided in this Lease Agreement. No reentry by LANDLORD and no acceptance by LANDLORD of keys from TENANT shall be considered an acceptance of a writ surrender of attachment or execution on this Lease Agreement. City of Miami Beach /CAA 11 ARTICLE XXVIII ADDITIONAL RENT (OPERATING EXPENSES) In addition to the Base Rent, TENANT shall also pay the following Additional Rent as provided below: TENANT shall pay One Thousand Three Hundred Twenty Seven Dollars and 94/100 ($ 1,327.94) per month, for its proportionate share of "Operating Expenses" which are defined as follows: "Operating Expenses" shall mean expenses incurred as a result of operating, repairing, and maintaining the Common Facilities . (as herein defined) and shall include electrical service, water service, sewer service, storm water costs and janitorial and custodial services to the Building, including the Demised Premises. "Common Facilities" shall mean all Building areas, spaces, equipment, as well as certain services, available for use by or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of TENANT and /or its creditors or of an arrangementemployees, compositionagents, extension or adjustment with its creditorsservants, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsvolunteers, or the assumption by any court or administrative agencycustomers, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control guests and/or invitees. Irrespective of the Premises or items listed above, amount due by TENANT, associated with Common Facilities Operating Expenses, will be determined based on TENANT's pro -rata share of Tenant or any substantial the items, which is hereby made a part of its assets or property; or (f) if the interest Lease Agreement. Pro -rata share shall mean the percent which the Demised Premises bears to the total square footage of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured leasable space within the time period specified above Building, which share is hereby agreed to be sixteen percent (16 %). TENANT agrees and Tenant commences corrective action within said time periodunderstands that the costs incurred for Operating Expenses may increase or decrease and, Tenant as such, TENANT's pro -rata share of Operating Expenses shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completion.increase or decrease accordingly. ARTICLE XXIX

Appears in 1 contract

Samples: docmgmt.miamibeachfl.gov

Default of Tenant. The occurrence Provided and it is hereby expressly agreed that if and whenever the Annual Rent or Additional Rent hereby reserved or any part thereof shall not be paid on the day appointed for payment thereof, whether lawfully demanded or not, or in case of breach or non-observance or non-performance of any one or more of the following events covenants, agreements, provisos, conditions or Rules and Regulations on the part of the Tenant to be kept, observed or performed, or in case the Leased Premises shall constitute a default be vacated or remain unoccupied for fifteen (15) days or in case the Term shall be taken in execution or attachment for any cause whatever, then and breach in every such case, it shall be lawful for the Landlord thereafter to enter into and upon the Leased Premises or any part thereof in the name of the whole and the same to have again, repossess and enjoy as of its former estate, anything in this Lease contained to the contrary notwithstanding other than the proviso to this paragraph; PROVIDED that the Landlord shall not at any time have the right to re-enter and forfeit this Lease by reason of the Tenant: (a) Tenant's failure to pay any ’s default in the payment of the rent or charges required to be paid reserved by Tenant under this Lease, except as otherwise provided herein, where such failure continues for unless and until the Landlord shall have given to the Tenant written notice setting forth the default complained of and the Tenant shall have the right during five (5) business days after next following the date on such notice from Landlord; (b) Tenant's abandonment to cure any such default in payment of rent. In case without the written consent of the demised Premises; (c) Tenant's failure to promptly and fully perform Landlord, the Leased Premises shall be used by any other covenant, condition person than the Tenant or agreement contained for any other purpose than that for which the same were let or in this Lease where such failure continues for 30 days after written notice from Landlord to case the Term or any of the goods and chattels of the Tenant shall be at any time seized in execution or attachment by any creditor of such default provided that the Tenant or if the nature Tenant makes any bulk sale, then in any such case this lease shall, at the option of the default is such that more than 30 days are reasonably required to cure such defaultLandlord, Tenant cease and determine and the Term shall not be deemed to be immediately become forfeited and void in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) accordance with the levy provisions of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangementSection 15, compositionRIGHT OF TERMINATION, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionherein.

Appears in 1 contract

Samples: Indenture (VeriChip CORP)

Default of Tenant. The occurrence If the Tenant shall fail to make any payment of rent within ten (10) days after Xxxxxx has received written notice of such default or if Tenant shall fail to keep and perform any one or more of the following events shall constitute a default and breach other covenant of this Lease by Tenant: and shall continue in default for a period of thirty (a30) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after Xxxxxx has received written notice from Landlord to Tenant of such default provided that if and demand of performance from Landlord, Landlord may declare the nature term ended and enter upon the premises and expel Tenant therefrom without prejudice to other remedies available to Landlord. No such entry by Landlord shall bar Landlord from the recovery of damages [or the breach of any of the default is such that more than 30 days are reasonably required covenants hereof by Tenant, and, Tenant shall remain liable for the payment of rent and other charges under the Lease, including brokerage commissions and expenses to cure such defaultprepare the Premises for re-rental, and all costs of maintaining the Premises until a new Tenant commences payment of rent, and thereafter, Tenant shall remain liable for any deficiencies after application of rent payments received by Landlord, but Tenant shall not be deemed entitled to be in excess payments received by Landlord, if any. Provided, however, if any default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; shall occur (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located other than in the Premises; (epayment of rent) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably with diligence be cured within a period of thirty (30) days and Tenant, prior to the time period specified above expiration of thirty (30) days from and Tenant after the giving of notice as aforesaid, commences corrective action to eliminate such default and proceeds diligently to take steps to cure the same, Landlord shall not have the right to declare the term ended by reason thereof. In addition to Xxxxxxxx's rights hereunder, in the event Landlord does not receive rent payments within said time periodten (10) days of the date required by this Lease, Tenant shall not pay Landlord an amount equal to 5% of the payment past due, as additional rent, together with the next payment of rent by Xxxxxx. Landlord shall be subject entitled to penalty under this Lease so long as recover from Tenant prosecutes such corrective action diligently other all reasonable costs and continuously to completionlegal fees incurred in connection with any default by Tenant.

Appears in 1 contract

Samples: Agreement (Clearview Cinema Group Inc)

Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Subsection 6.1.11 of this Lease by Tenant: (a) Tenant's failure to pay and if any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues default shall continue for five (5) business days after written notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, provided that if Tenant has taken immediate steps to cure such default and the nature of the default is such that requires more than 30 thirty (30) days are reasonably required to cure such defaultcure, Tenant shall, so long as Tenant is diligently pursuing a cure, have such additional time as is reasonably necessary; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, including said leasehold interest, and shall not be discharged within ten (10) days after Tenant has knowledge of an arrangementthe same, composition, extension unless Tenant has timely contested such encumbrance in good faith and has furnished to Landlord security reasonably acceptable to Landlord with respect to Tenant’s obligation to discharge such lien or adjustment with its creditors, the filing by encumbrance; or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the Term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the Term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: Liquid Holdings Group, Inc.

Default of Tenant. The occurrence (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any other charges or amounts under this Lease when due or shall default in complying with its obligations under Subsection 6.1.11 or the last sentence of any one or more of the following events shall constitute a default and breach Section 10.9 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure days (or such additional time, but not to promptly and fully perform any other covenantexceed sixty (60) days, condition or agreement contained in this Lease where as shall be reasonably required to cure such failure continues for 30 if the same is not capable of cure within thirty (30) days despite the use of all reasonable efforts by Tenant to do so) after written notice from Landlord to Tenant of such specifying any default provided that if the nature of or defaults other than those set forth in clause (I) Tenant has not cured the default is such that more than 30 days are reasonably required to cure such default, Tenant or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant or any guarantor of a general assignment Tenant for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension or adjustment with its creditors, the filing by or against Tenant the property of any guarantor of Tenant, and shall not be discharged within ten (10) days thereafter; or (e) if a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption shall be filed by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part guarantor of its assets Tenant for liquidation, or propertyfor reorganization or an arrangement under any provision of any bankruptcy law or code as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant or any guarantor of Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant or any guarantor of Tenant; or (h) if Tenant or any guarantor of Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant or any guarantor of Tenant decreeing or permitting the dissolution of Tenant or any guarantor of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified; the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completion.hereinafter provided,

Appears in 1 contract

Samples: Cuisine Solutions Inc

Default of Tenant. The occurrence a. In the event of any one failure of Tenant to pay any rental due hereunder within ten (10) days after the same becomes due, or more if a check for the payment of the following events shall constitute a default and breach Base Rent or Additional Rent is returned NSF, or any failure to perform any other terms, conditions or covenants of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid observed or performed by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five more than thirty (530) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord of such failure has been given to Tenant of such default (provided that where a cure is not reasonably possible within that period, Tenant will be entitled to additional time to effect a cure, but not beyond thirty (30) additional days, so long as Tenant promptly commences acts reasonably calculated to effect a cure and thereafter diligently prosecutes those acts to completion), or if Tenant or an agent of Tenant falsifies any report required to be furnished to Landlord pursuant to the nature terms of this Lease, or if Tenant or any guarantor of this Lease becomes bankrupt or insolvent, or files any debtor proceedings or any person takes or has against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be United States or of any state a petition in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) bankruptcy or insolvency or for reorganization or for the levy appointment of a writ receiver or trustee of attachment all or execution on this Lease or on any a portion of Tenant’s or any such guarantor's property located in the Premises; (e) the making by property, or if Tenant of a general or any such guarantor's property, or if Tenant or any such guarantor makes an assignment for the benefit of its creditors creditors, or of petitions for or enters into an arrangement, composition, extension or adjustment arrangement with its creditors, the filing by or against if Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of abandons the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under suffers this Lease is held by to be taken under any writ of execution, then in any such event Tenant will be in default hereunder. and Landlord may remove all persons and property from the Premises and such property may be removed and stored in a partnership public warehouse or by more than one person elsewhere at the cost of, and for the account of Tenant, without being guilty of trespass, or entity, the occurrence of becoming liable for any act loss or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs damage which cannot reasonably may be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionoccasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (Aetrium Inc)

Default of Tenant. The occurrence In the event of any one or more failure of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure Tenant to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for rental due hereunder within five (5) business days after notice from Landlord; the same shall be due more than twice in any twelve (b12) Tenant's abandonment of the demised Premises; (c) Tenant's month period, or any failure to promptly and fully perform any other covenantof the terms, condition conditions or agreement contained in covenants of this Lease where such failure continues to be observed or performed by Tenant for 30 more than thirty (30) days after written notice from Landlord to Tenant of such default provided that shall have been given to Tenant, or such larger period of time as is reasonable if the nature Tenant has commenced curing such default within thirty (30) days and is diligently pursuing such cure, or if Tenant shall be finally adjudicated a bankrupt and all appeal rights have been extinguished, or if Tenant, in any court pursuant to any statute either of the United States or of any State, shall file a petition in bankruptcy or insolvency, or for reorganization or for the appointment of a receiver or trustee for all or a portion of Tenant's properly, or shall make an assignment for the benefit of creditors, or if Tenant shall abandon the Leased Premises and remove its furnishings and equipment therefrom, or if Tenant shall abandon said premises and also be in default is under the Lease, or suffer this Lease to be taken under any writ of execution, then Landlord, besides other rights or remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Leased Premises and such property may be removed and stored in a public warehouse or elsewhere at the cost, and for the account of Tenant, all without service of notice or resort to legal process and without being deemed guilty of trespass, or becoming liable for any loss or damage which may be occasioned thereby. Should Landlord elect to reenter as herein provided, or should it take possession pursuant to legal proceedings or pursuant to any notice provided for by law it may either terminate this Lease or it may from time to time without terminating this Lease, make such alterations and repairs as may be necessary to relet the Premises, and relet said Premises or any part thereof for such term or terms (which may be for a term extending beyond the term of this Lease) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable; upon each such reletting all rentals received by the Landlord from such reletting shall be applied, first, to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of any costs and expenses of such reletting, including brokerage and attorneys' fees and of costs of alterations and repairs; third, to the payment of rent due and unpaid hereunder, and the residue, if any, shall be held by the Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than that more than 30 days are reasonably required to cure such defaultbe paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. No such re-entry or taking possession of the Leased Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such reletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach. Should Landlord at any time terminate this Lease for any breach, in addition to any other remedies it may have all remedies available to it at law or in equity. In the event of any breach or threatened breach by Tenant or Landlord of any of the terms and provisions of this Lease, either Tenant or Landlord shall have the right to injunctive relief as if no other remedies were provided herein for such breach. The rights and remedies herein reserved by or granted to Landlord or Tenant are distinct, separate and cumulative, and the exercise of any one of them shall not be deemed to preclude, waive or prejudice Landlord's or Tenant's right to exercise any or all others. Tenant hereby expressly waives any right to assert a defense based on merger and agrees that neither the commencement of any action or proceeding, nor the settlement thereof, nor the entry of judgment therein shall bar Landlord from bringing any subsequent actions or proceedings from time to time. Wherever in this Lease the Landlord has reserved or is granted the right of re-entry into the Leased Premises the use of such word is not intended, nor shall it be in default if within construed, to be limited to its technical legal meaning. If either party incurs any expenses, including court costs and attorneys' fees (and the costs and expenses of such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy attorney), as a result of a writ of attachment or execution on this Lease or on any of Tenant's property located in default by the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant party under this Lease Lease, whether or not litigation is held commenced or concluded, then such expenses shall be reimbursed by a partnership the non-prevailing party, whether or not such default is subsequently cured. Tenant hereby waives demand for rent, demand for possession, notice of forfeiture, notice of termination and any and all other demands or notices required by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionlaw.

Appears in 1 contract

Samples: Lease (Sheffield Pharmaceuticals Inc)

Default of Tenant. The occurrence of (a).(I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease by Tenant: and if any such default shall continue for ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure designating such default, or (II) if as promptly as possible but in any event within thirty (30) days after written, notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified; or (b) if any assignment shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making made by Tenant of a general assignment for the benefit of its creditors creditors; or (c) if Tenant’s leasehold interest shall be taken on execution; of an arrangement(d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property, compositionincluding said leasehold interest, extension and shall not be discharged within ten (10) days thereafter; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than twice to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter give notice to Tenant terminating this Lease and the term hereof, which notice shall specify the date of termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above shall expire and Tenant commences corrective action within said time period, terminate but Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: Amylyx Pharmaceuticals, Inc.

Default of Tenant. The occurrence of Tenant shall be in default if any one or more of the following events ("Events of Default") shall constitute a default and breach of this Lease by Tenantoccur: (a) Tenant's failure Tenant shall fail to pay any rent installment of Rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where any other obligation hereunder involving the payment of money and such failure continues shall continue for five a period of ten (510) business days after written notice from Landlordthereof to Tenant and, in accordance with Section 8.2, to each Leasehold Mortgagee who has provided notice to Landlord of its Leasehold Mortgage; (b) Tenant's abandonment Tenant shall violate any material obligation of Tenant under this Lease not involving the demised Premisespayment of money and such violation shall continue for a period of thirty (30) days after written notice thereof to Tenant and, in accordance with Section 8.2, to each Leasehold Mortgagee who has provided notice to Landlord of its Leasehold Mortgage; provided, however, no Event of Default shall exist if the violation cannot with due diligence be cured within such 30-day period and Tenant shall have commenced to cure such violation and shall be proceeding with reasonable diligence to completely cure such violation; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a any general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, by Tenant; (d) the filing by or against Tenant of a voluntary petition in bankruptcy or a voluntary petition for relief an arrangement or other proceeding reorganization under the federal bankruptcy laws United States Federal Bankruptcy Act (or state similar statute or other insolvency laws, law of any foreign jurisdiction) by Tenant; (e) the appointment of a receiver or the assumption by any court trustee for all or administrative agency, or by a receiver, trustee or custodian appointed by either, substantially all of jurisdiction, custody or control of Tenant's interest in the Premises or of Tenant or any substantial part of its assets or propertyleasehold estate hereunder if not removed with one hundred and eighty (180) days; or and (f) if the interest entry of a final judgment, order or decree of a court of competent jurisdiction adjudicating Tenant under this Lease is held by a partnership or by more than one person or entityto be bankrupt, and the occurrence of any act or event described in part (e) above in respect of any partner expiration without appeal of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject if any, allowed by applicable law in which to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionappeal therefrom.

Appears in 1 contract

Samples: Lease Agreement (Six Flags Inc)

Default of Tenant. The occurrence 17. a. In the event of any one or more failure of the following events shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure Tenant to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five rental due hereunder within ten (510) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant; or any failure to perform any other term, condition or covenant of this Lease to be observed or performed by Tenant of such default provided that if the nature of the default is such that for more than 30 thirty (30) days are (or such additional time, in no event more than 60 additional days unless paragraph 17A.d applies, as is reasonably required to cure correct such default, failure) after written notice of such failure shall have been given to Tenant; or if Tenant or an agent of Tenant shall not be deemed falsify any report required to be furnished to Landlord pursuant to the terms of this Lease; or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings, or any person shall take or have against Tenant or any guarantor of this Lease in default if within such 30 day period it commences any court pursuant to cure and diligently prosecutes such cure to completion; (d) any statute either of the levy United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a writ receiver or trustee of attachment all or execution on this Lease or on any a portion of Tenant's property located in the Premises; (e) the making by or any such guarantor's property, or if Tenant of a general or any such guarantor makes an assignment for the benefit of its creditors creditors, or of petitions for or enters into an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or if Tenant shall abandon the Demised Premises (fother than as permitted under paragraph 31) if the interest or suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder, and Landlord, in addition to other rights and remedies it may have, may declare all rents reserved under this Lease is for the then unexpired balance of the term to be immediately due and payable, and shall have (as and when allowed pursuant to judicial process) the immediate right of re-entry and may remove all persons and property from the Demised Premises, and such property may be removed and stored in a public warehouse or elsewhere at the cost and for the account of Tenant, all without service of notice or resort to legal process (except as required by law or this Lease) and without Landlord's being guilty of trespass or becoming liable for any loss or damage which may be occasioned thereby. b. Should Landlord elect to re-enter the Demised Premises as herein provided, or should it take possession of the Demised Premises pursuant to legal proceedings or pursuant to any notice provided for by law, Landlord may either terminate this Lease or may from time to time, without terminating this Lease, make such alterations and repairs as may be necessary in order to relet the Demised Premises, and may relet the Demised Premises or any part thereof for such term or terms (which may be for a term extending beyond the Lease Term) and at such rental or rentals and upon such other terms and conditions as Landlord in its sole discretion may deem advisable. Upon each such reletting, all rentals received by Landlord from such reletting shall be applied first to the payment of any indebtedness other than rent due hereunder from Tenant to Landlord; second, to the payment of Landlord's reasonable costs and expenses of such reletting, including brokerage fees, attorney's fees, and costs of alterations and repairs necessary to prepare the space for a new tenant; third, to the payment of rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future rent as the same may become due and payable hereunder. If such rentals received from such reletting during any month be less than the rentals to be paid during that month by Tenant hereunder, then Tenant shall pay any such deficiency to Landlord on demand. No such re-entry or taking possession of the Demised Premises by Landlord, nor any other act or omission to act by Landlord, shall be construed as an election on Landlord's part to terminate this Lease unless a partnership written notice of Landlord's intention to terminate be given to Tenant, or unless the termination hereof be decreed by more than one person or entitya court of competent jurisdiction. Notwithstanding any such reletting without termination, the occurrence Landlord may at any time after such re-entry and reletting elect to terminate this Lease for Tenant's said previous breach. Should Landlord at any time terminate this Lease by reason of any act or event described breach by Tenant, then in part (e) above in respect addition to any other remedies it may have, Landlord may recover from Tenant all damages it may incur by reason of any partner such breach, including the cost of recovering possession of the partnership Demised Premises, reasonable attorney's fees, and the excess, if any, of (i) the amount of Base Rent and Additional Rent reserved in this Lease for the remainder of its stated term, over (ii) the then reasonable rental value of the Demised Premises for the remainder of the stated term, all of which amounts shall be immediately due and payable from Tenant to Landlord. c. Landlord may, at its option, after providing Tenant notice and the requisite cure period as specified in this Lease, instead of exercising any other rights or remedies available to it in this Lease or otherwise available by law, by statute or in equity, spend such money as is reasonably necessary to cure any person or entity holding an interest default of Tenant hereunder; and the amount so spent by Landlord, and costs incurred in curing such default, including reasonable attorney's fees, shall be paid by Tenant of 25% or moreas Additional Rent to Landlord upon demand. d. In the event a nonmonetary default occurs which cannot reasonably suit shall be cured within brought for recovery of possession of the time period specified above Demised Premises, for the recovery of rent or any other amount due under the provisions of this Lease, or for relief because of the breach of any other covenant herein contained on the part of Tenant to be kept or performed, and Tenant commences corrective action within said time period, in the event such breach by Tenant shall not be subject established in such action, then Tenant shall pay to penalty Landlord all expenses therein incurred, including reasonable attorney's fees, together with interest on all such rents, other amounts and expenses at the rate of one and one-half percent (1.5%) per month from the date of such breach of the covenants of this Lease. e. Tenant hereby expressly waives any and all rights of redemption (except to the extent, if any, that such rights are nonwaivable under applicable law) granted by or under any present or future laws in the event of Tenant being evicted or dispossessed for any cause, or in the event of Landlord obtaining possession of the Demised Premises, by reason of the violation by Tenant of any of the covenants or conditions of this Lease so long or otherwise. Tenant also waives any demand for possession of the Demised Premises, and any demand for payment of rent and any notice of intent to re-enter the Demised Premises, or of intent to terminate this Lease, other than the notices provided for in this Lease, and waives any and every other notice or demand prescribed by any applicable statutes or laws, except to the extent (if any) that any such statutes or laws provide that any notice or demand is nonwaivable. f. No remedy herein or elsewhere in this Lease, or otherwise by law, statute or equity conferred upon or reserved to Landlord or Tenant, shall be exclusive of any other remedy, but all such remedies shall be cumulative, and may be exercised from time to time and as Tenant prosecutes such corrective action diligently and continuously to completionoften as the occasion may arise.

Appears in 1 contract

Samples: Possis Medical Inc

Default of Tenant. The occurrence If at any time the rental or any money payments here under, or any part thereof, shall remain unpaid for a period of any one or more of the following events shall constitute a default and breach of this Lease by Tenant: ten (a10) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenantsame becomes due, condition or agreement contained in this Lease where such failure continues for 30 days after Landlord shall give written notice from Landlord to Tenant of such default provided that if and intent to terminate the nature Lease in ten (10) days and shall allow Tenant to cure such default by making the rental or any money payments due together with a late charge of $500.00 dollars per each month's (or portion of a month) delinquency, plus the money due and any attorneys' fees detailed in Section 18. If the default is not corrected after this period, Landlord has all remedies available at law including the lockout provisions of ARS ss.33-361. If at any time Tenant is otherwise in breach of the Lease, Landlord shall give notice of such that more than 30 default to Tenant. If Tenant shall fail to pay the rental or any money payment plus the late charge, or fail to fulfill or perform any of the other agreements and provisions hereof obligatory upon Tenant, and if said nonpayment, nonfulfillment or nonperformance shall continue for a period of ten (10) days are reasonably required to cure such defaultafter written notice thereof, Tenant shall not be deemed to be considered in default if within hereunder, and upon such 30 day period default it commences shall be lawful and optional for Landlord to cure and diligently prosecutes such cure to completion; (d) the levy declare a termination of a writ of attachment or execution on this Lease and to reenter upon said premises and to again repossess and enjoy the same and all improvements thereon, and thereupon this Lease shall terminate; and in addition thereto, upon such default Landlord shall be entitled to whatever remedies Landlord may have at law for the collection of any unpaid rental hereunder or for damages hereunder or for damages that Landlord may have sustained on any account of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors nonfulfillment or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control nonperformance of the Premises agreements and provisions hereof or of Tenant or for any substantial part of its assets or property; or (f) if other sums that may be due according to the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionterms hereof.

Appears in 1 contract

Samples: Titan Motorcycle Co of America Inc

Default of Tenant. The occurrence of any one or more of In the following events event Tenant shall constitute a default and breach of this Lease by Tenant: (a) Tenant's failure fail to pay make any rent rental or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five other payment due hereunder within ten (510) business days after notice from Landlordthe same shall become due, or in the event; (b) a petition in bankruptcy (including Chapter X and Chapter XI bankruptcy proceedings or any other reorganization proceedings under the Bankruptcy Act) be filed by the Tenant's abandonment of , or be filed against the demised PremisesTenant, and such petition is not dismissed within thirty (30) days from the filing thereof, or in the event Tenant is adjudged a bankrupt; or, (c) an assignment for the benefit of creditors is made by Tenant; or, (d) of an appointment by any court of a receiver or other court officer of Tenant's failure property and such receivership is not dismissed within thirty (30) days from such appointment; or (e) Tenant removes, attempts to promptly remove, or permits to be removed from the leased premises, except in the usual course of trade, the goods, furniture, effects or other property of the Tenant brought thereon; or, (f) Tenant before the expiration of the term hereof and fully without the written consent of the Landlord, vacates the leased premises or abandons the possession thereof, or uses the same for purposes other than the purpose for which the same are leased, or ceases to use the leased premises for the purposes herein expressed; or, (g) an execution or other legal process is levied upon the goods, furniture, effects or other property of Tenant brought on the leased premises, or upon the interest of Tenant in this lease, and the same is not satisfied or dismissed within ten (10) days from such levy or process; or, the breach or fail to perform any of the agreements herein other covenantthan the agreement to pay rent, condition or agreement contained in this Lease where and shall fail to cure such failure continues for 30 breach within ten (10) days after written notice from Landlord, then Landlord to Tenant of in any such default provided that if event shall have the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long options as Tenant prosecutes such corrective action diligently and continuously to completion.follows:

Appears in 1 contract

Samples: Seagrape Square Lease Agreement (Admiralty Bancorp Inc)

Default of Tenant. The occurrence a. In the event of any one failure of Tenant to pay any rental due hereunder within ten (10) days after the same becomes due, or more of the following events shall constitute a default and breach any failure to perform any other terms, conditions or covenants of this Lease by Tenant: (a) Tenant's failure to pay any rent or charges required to be paid observed or performed by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five more than thirty (530) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord of such failure shall have been given to Tenant of (or, if such default is reasonably incapable of cure within thirty (30) days as reasonably determined by Landlord, such reasonably longer period of time not to exceed a total of sixty (60) days provided that Tenant commences the cure within thirty (30) days and diligently pursues the same to completion within said sixty (60) day period), or if Tenant or an agent of Tenant shall falsify any report required to be furnished to Landlord pursuant to the nature terms of this Lease, or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings or any person shall take or have against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be United States or of any state a petition in default if within such 30 day period it commences to cure and diligently prosecutes such cure to completion; (d) bankruptcy or insolvency or for reorganization or for the levy appointment of a writ receiver or trustee of attachment all or execution on this Lease or on any a portion of Tenant's property located in the Premises; (e) the making by ’s or any such guarantor’s property, or if Tenant of a general or any such guarantor’s property, or if Tenant or any such guarantor makes an assignment for the benefit of its creditors creditors, or of petitions for or enters into an arrangement, composition, extension or adjustment arrangement with its creditors, or if Tenant shall abandon the filing by Demised Premises pursuant to the provisions in Article 20.0 above or against suffer this Lease to be taken under any writ of execution, then in any such event Tenant shall be in default hereunder, and Landlord, in addition to other rights of remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Demised Premises and such property may be removed and stored in a petition public warehouse or elsewhere at the cost of, and for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsaccount of Tenant, without being guilty of trespass, or the assumption by becoming liable for any court loss or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs damage which cannot reasonably may be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionoccasioned thereby.

Appears in 1 contract

Samples: Commercial Lease (EnteroMedics Inc)

Default of Tenant. The occurrence of If any one or more of the following events shall constitute a default and breach of this Lease by Tenantoccurs: (a2) Tenant's failure a rent payment or any other payment due from Tenant to pay any rent Landlord shall be and remain unpaid in whole or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues in part for more than five (5) business days after following written notice from Landlordform Landlord of non-payment by Tenant; provide, however, if Landlord has given two (2) or more of such notices during the preceding twelve (12) month period, no such prior notice need be given by Landlord and Tenant shall be in default under this Lease Agreement if the payment is not made by Tenant within ten (10) days of the date same is due and payable; (b2) Tenant's abandonment Tenant shall not violate or default on any of the demised Premises; (c) Tenant's failure to promptly and fully perform other covenants, agreements, stipulations or conditions herein or in any other covenantagreement between Landlord and Tenant relating to the Premises and such violation or default shall continue for a period of thirty (30) days (or such additional period of time, condition not to exceed and additional sixty (60) days, as is reasonable under the circumstances if the violation or agreement contained in this Lease where default is of the type that can be reasonably be cured within thirty (30) days and Tenant promptly commences such failure continues for 30 days cure and at all times diligently pursues same) after written notice from Landlord to Tenant of such default provided that violation or default; or (3) if the nature Tenant or any guarantor of the default is such that more than 30 days are reasonably required this Lease Agreement shall commence or have commenced against Tenant or any guarantor proceedings under a bankruptcy, receivership, insolvency or similar type of action; then it shall be optional for Landlord, without further notice or demand, to cure such defaultdefault or to declare this Lease Agreement forfeited and the said Term ended, Tenant or to terminate only Tenant's right to possession of the Premises, and to re-enter the Premises with or without process of law, using such force as may be necessary to remove all persons or chattels therefrom, and Landlord shall not be deemed to be in default if within liable for damages by reason of such 30 day period it commences to cure and diligently prosecutes such cure to completionre-entry or forfeiture; (d) the levy but notwithstanding re-entry by Landlord of a writ forfeiture of attachment or execution on termination of this Lease Agreement or on any termination only of Tenant's property located in right to possession of the Premises; (e) , the making by Liability of Tenant of a general assignment for the benefit rent and all other sums provided for herein shall not be relinquished or extinguished for the balance of its creditors the Term of this Lease Agreement and Landlord shall be entitled to periodically sue Xxxant for all sums due under this Lease Agreement or of an arrangementwhich become due prior to judgment, compositionbut such suit shall not bar subsequent suits for any further sums coming due thereafter. Tenant shall be responsible for, extension or adjustment with its creditorsin addition to the rentals and other sums agreed to be paid hereunder, the filing cost of any necessary maintenance, repair, restoration, reletting (including related cost of removal or modification of tenant improvements) or cure as well as reasonable attorney's fees incurred or awarded in any suit or action instituted by or against Tenant Landlord to enforce the provisions of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsthis Lease Agreement, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control regain possession of the Premises or the collection of the rentals due Landlord hereunder. Tenant shall also be liable to Landlord for the payment of a late charge in the amount of 10% of the rental installment or any substantial part other sum due Landlord hereunder if said payment has not been received within ten (10 days) from the date said payment becomes due and payable, or cleared by Landlord's bank within three (3) business days after deposit. Tenant agrees to pay interest at 12% per annum or the maximum permissible rate under the applicable usury statutes, whichever is less, on all rentals and other sums due Landlord hereunder not paid within ten (10) days from the date the same becomes due and payable. Each right or remedy of its assets or property; or (f) if the interest of Tenant under Landlord provided for in this Lease is held by a partnership Agreement shall be cumulative and shall be in addition to every other right or remedy provided for in this Lease Agreement now or hereafter existing at law or in equity or by more than one person the statute or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionotherwise.

Appears in 1 contract

Samples: Lease Agreement (Cray Inc)

Default of Tenant. The occurrence a. In the event of any failure of Tenant to pay any Base Rent, Additional Rent or other amounts due hereunder within ten (10) days after the same shall be due, or any failure to perform any other of the terms, conditions or covenants of this Lease to be observed or performed by Tenant with all reasonable diligence, but in any event for more than thirty (30) days after written notice of such failure shall have been given to Tenant provided that, if such default cannot with due diligence by wholly cured within such thirty (30) days, Tenant shall have such longer period, up to ninety (90) days, as may be reasonably necessary to cure the default, so long as Tenant proceeds promptly to commence the cure of same within such thirty (30) day period and diligently prosecutes the cure to completion, or if Tenant or an agent of Tenant shall intentionally falsify any report required to be furnished to Landlord pursuant to the terms of this Lease, or if Tenant or any guarantor of this Lease shall become bankrupt or insolvent, or file any debtor proceedings, or any person shall file against Tenant or any guarantor of this Lease in any court pursuant to any statute either of the United States or of any state a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Tenant's or any such guarantor's property, or if Tenant or any such guarantor makes an assignment for the benefit of creditors, or petitions for or enters into any similar arrangement, and such bankruptcy, insolvency, receivership or other proceeding is not dismissed in ninety (90) days or if any guarantor of this Lease shall be in default in the performance of any covenant, duty or obligation under any guaranty or other agreement entered into with or in favor of Landlord and such default shall remain uncured for a period of thirty (30) days or more after notice of such default, or if Tenant shall abandon the Demised Premises (provided Tenant may vacate the Demised Premises provided it continues to perform its obligations hereunder) or suffer this Lease to be taken under any writ of execution (any one or more of the following events foregoing shall constitute a default and breach an "Event of this Lease by Tenant: (a) Tenant's failure to pay Default"), then in any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days after notice from Landlord; (b) Tenant's abandonment of the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, event Tenant shall not be deemed to be in default if within hereunder, and Landlord, in addition to any other rights and remedies it may have, shall have the immediate right of re-entry and may remove all persons and property from the Demised Premises and such 30 day period it commences to cure property may be removed and diligently prosecutes such cure to completion; (d) stored in a public warehouse or elsewhere at the levy of a writ of attachment or execution on this Lease or on any sole cost of, and for the account of Tenant's property located , all in the Premises; (e) the making by Tenant accordance with applicable legal process and without being guilty of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawstrespass, or the assumption by becoming liable for any court loss or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs damage which cannot reasonably may be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completionoccasioned thereby.

Appears in 1 contract

Samples: Lease (Mgi Pharma Inc)

Default of Tenant. The occurrence of (a) (I) If Tenant shall default in its obligations to pay the Annual Fixed Rent or Additional Rent or any one other charges or more of the following events amounts under this Lease when due or shall constitute a default and breach in complying with its obligations under Sections 4.4 or 6.1.11 of this Lease by Tenant: and if any such default shall continue for seven (a7) Tenant's failure to pay any rent or charges required to be paid by Tenant under this Lease, except as otherwise provided herein, where such failure continues for five (5) business days Business Days after notice from Landlord; Landlord designating such default, or (bII) Tenant's abandonment of the demised Premises; if as promptly as possible but in any event within thirty (c30) Tenant's failure to promptly and fully perform any other covenant, condition or agreement contained in this Lease where such failure continues for 30 days after written notice from Landlord to Tenant specifying any default or defaults other than those set forth in clause (I) Tenant has not cured the default or defaults so specified, or if such default is of such a nature that it cannot be cured within thirty (30) days using best efforts, if Tenant does not commence the curing of such default provided that if the nature of the default is such that more than 30 days are reasonably required to cure such default, Tenant shall not be deemed to be in default if within such 30 thirty-day period it commences to cure and thereafter diligently prosecutes and {B2323618; 13} - 38 - continuously prosecute such cure to completioncompletion within such additional time as may be necessary, but in no event to exceed forty-five (45) days from the date of Landlord’s notice to Tenant specifying the default; or (db) the levy of a writ of attachment or execution on this Lease or on if any of Tenant's property located in the Premises; (e) the making assignment shall be made by Tenant of a general assignment for the benefit of its creditors creditors; or of an arrangement(c) if Tenant’s leasehold interest shall be taken on execution; or (d) if a lien or other involuntary encumbrance shall be filed against Tenant’s leasehold interest or Tenant’s other property which includes said leasehold interest, composition, extension and shall not be discharged within ten (10) days after Tenant has notice thereof; or adjustment with its creditors, the filing by or against Tenant of (e) if a petition shall be filed by Tenant for relief or other proceeding under the federal bankruptcy laws or state or other insolvency lawsliquidation, or the assumption by for reorganization or an arrangement under any court provision of any bankruptcy law or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or propertycode as then in force and effect; or (f) if an involuntary petition under any of the interest provisions of any bankruptcy law or code shall be filed against Tenant and such involuntary petition shall not be dismissed within thirty (30) days thereafter; or (g) if a custodian or similar agent shall be authorized or appointed to take charge of all or substantially all of the assets of Tenant; or (h) if Tenant dissolves or shall be dissolved or shall liquidate or shall adopt any plan or commence any proceeding, the result of which is intended to include dissolution or liquidation; or (i) if any order shall be entered in any proceeding by or against Tenant decreeing or permitting the dissolution of Tenant or the winding up of its affairs; or (j) if Tenant shall fail to pay any installment of Annual Fixed Rent or Additional Rent when due, Tenant shall cure such default within the grace period provided in clause (a) (I) above (or with Landlord’s approval after the expiration of such grace period) and Tenant shall, within the next year following the date such initial defaulted payment was first due, fail more than once to pay any installment of Annual Fixed Rent or Additional Rent when due, then, and in any of such cases indicated in clauses (a) through (j) hereof (collectively and individually, a “Default of Tenant”), Landlord may, in addition to and not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter (x) give notice to Tenant terminating this Lease and/or the term hereof, which notice shall specify the date of such termination, whereupon on the date so specified, the term of this Lease and all of Tenant’s rights and privileges under this Lease is held by a partnership shall expire and terminate or by more than one person or entity, the occurrence (y) without terminating this Lease terminate Tenant's right of any act or event described in part (e) above in respect of any partner possession and/or occupancy and reenter and take possession of the partnership Premises or any person part thereof, without notice and expel Tenant and any party claiming under Tenant and remove any of their effects, without being liable on account thereof, whether in trespass or entity holding breach or covenant or otherwise, (and no such reentry or taking possession shall be construed as an interest election by Landlord to terminate this Lease unless Landlord shall affirm such election by notice expressly to such effect), but in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, either case Tenant shall not be subject to penalty under this Lease so long remain liable as Tenant prosecutes such corrective action diligently and continuously to completionhereinafter provided.

Appears in 1 contract

Samples: Lease (Pc Tel Inc)

Default of Tenant. The occurrence If Tenant shall fail to pay any installment of rent on the day when the same shall become due and payable hereunder and shall continue in default for a period of ten (10) days after Landlord gives written notice thereof, or if Tenant shall fail to keep and perform any one or more of the following events shall constitute a default other terms, covenants, and breach conditions of this Lease by Tenant: on its part to be performed and shall continue in default for a period of thirty (a30) days after Landlord gives notice to Tenant of said default, then in said event,- and as often as any said event shall occur, Landlord may, at Landlord's option, cure said default at Tenant's failure sole cost and expense, in which event any cost incurred by Landlord in curing said default shall become immediately due and payable from Tenant, together with interest thereon at the rate of 12% per annum, or Landlord may terminate this Lease and enter into the Leased Premises, or any part thereof, either with or without process of law, and expel Tenant, or any person occupying the Leased Premises, and use such force as may be necessary so to pay any rent or charges required do, and repossess and enjoy the Leased Premises as in Landlord's former estate, but Tenant shall remain fully liable hereunder for all rents and other sums to be paid and all covenants to be performed by Tenant during the remaining balance of the term of this Lease but subject to reduction in accordance with the next sentence. Landlord shall use all reasonable diligence to relet the Leased Premises, and in said event, Landlord, shall apply the rent received from any new tenant thereof on any balance due under this Lease, except as otherwise provided herein, where such failure continues and Tenant shall be responsible for five (5) business days after notice from Landlord; (b) Tenant's abandonment of no more than the demised Premises; (c) Tenant's failure to promptly and fully perform any other covenant, condition or agreement remaining balance that may then be due hereunder. Notwithstanding anything contained in this Lease where such failure continues for 30 paragraph to the contrary, if any default shall occur, other than in the payment of money, which cannot with due diligence be cured within a period of thirty (30) days, and Tenant, prior to the expiration of thirty (30) days from and after written notice from Landlord the giving of notices as aforesaid, shall commence to Tenant eliminate the cause of such default provided that if the nature of the default is such that more than 30 days are reasonably said default, shall proceed diligently and with reasonable dispatch to take all steps and do all work required to cure such said default, and shall thereafter cure said default, then Landlord shall grant Tenant shall not be deemed to be in default if a reasonable extension of time within such 30 day period it commences which to cure and diligently prosecutes such cure to completion; (d) the levy of a writ of attachment or execution on this Lease or on any of Tenant's property located in the Premises; (e) the making by Tenant of a general assignment for the benefit of its creditors or of an arrangement, composition, extension or adjustment with its creditors, the filing by or against Tenant of a petition for relief or other proceeding under the federal bankruptcy laws or state or other insolvency laws, or the assumption by any court or administrative agency, or by a receiver, trustee or custodian appointed by either, of jurisdiction, custody or control of the Premises or of Tenant or any substantial part of its assets or property; or (f) if the interest of Tenant under this Lease is held by a partnership or by more than one person or entity, the occurrence of any act or event described in part (e) above in respect of any partner of the partnership or any person or entity holding an interest in Tenant of 25% or more. In the event a nonmonetary default occurs which cannot reasonably be cured within the time period specified above and Tenant commences corrective action within said time period, Tenant shall not be subject to penalty under this Lease so long as Tenant prosecutes such corrective action diligently and continuously to completiondefault.

Appears in 1 contract

Samples: Lease (Founders Food & Firkins LTD /Mn)

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