Common use of Default of Tenant Clause in Contracts

Default of Tenant. The following events shall be a default by Tenant (a “Default”) under this Lease: (1) Failure of Tenant to pay Rent as and when due; provided, however, that with respect to the first two (2) such failures in any twelve (12) month period only, no Default shall be deemed to have occurred unless such failure continues for a period of five (5) business days after written notice thereof from Landlord to Tenant. (2) Failure of Tenant to comply with or perform any covenant or obligation of Tenant under this Lease, if the failure continues for thirty (30) days after notice from Landlord to Tenant specifying the failure, other than (i) those concerning the payment of Rent, (ii) those set forth in any of Sections 21, 35, 36 and 38 hereof, as to which there shall be no cure rights hereunder, (iii) those set forth in Sections 8.B. and 22 hereof, as to which Tenant shall be entitled to five (5) business days after notice from Landlord to Tenant specifying the failure within which to cure same, (iv) those set forth in Sections 17 and 26 hereof, as to which Tenant shall be entitled to one (1) business day after notice from Landlord to Tenant specifying the failure within which to cure same, and (v) any Default arising under subsections (5) or (6) of this Section 19.A.; provided, however, that if the failure on the part of Tenant is not capable of being cured within such 30-day period but Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant’s time to cure such failure shall be extended for the time necessary to cure same, but in no event longer than ninety (90) days, inclusive of the original 30-day period. (3) [Intentionally omitted.] (4) If Tenant, any Guarantor or, if Tenant is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other Laws, or shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner. (5) If, within thirty (30) days after the commencement of any proceeding against Tenant or any Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other Laws, such proceeding shall not have been dismissed or if, within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise discharged, or if any execution or attachment shall have been issued against the property of Tenant or of any Guarantor or Partner, pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied. (6) If Tenant fails to take possession of the Premises on the Lease Commencement Date or vacates, abandons or ceases to carry on its ordinary activities in the Premises prior to the Lease Expiration Date, with or without an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (30) days prior written notice that it intends to vacate the Premises, (ii) Tenant pays the full amount of all Rent when due under this Lease while the Premises are vacant, (iii) the fact that the Premises are vacant does not adversely affect the Building or other tenants therein and does not result in any liability to, or expenditure of funds by, Landlord, and (iv) Tenant leaves the Premises, and continues to maintain the Premises, in the condition required by this Lease throughout the remainder of the Term, then, and in such event only, Tenant shall not be deemed to be in Default under this Section 19.A.(6).

Appears in 2 contracts

Sources: Lease Agreement (Evolent Health, Inc.), Lease Agreement (Evolent Health, Inc.)

Default of Tenant. The Each of the following events shall be a default by Tenant (a “an "Event of Default”) " under this Lease: (1a) Failure any failure of Tenant to pay Rent as any rent when due and when due; provided, however, that with respect to the first two (2) such failures in any twelve (12) month period only, no Default shall be deemed to have occurred unless such failure continues uncured for a period of five fifteen (515) business days after written Landlord gives Tenant notice thereof from Landlord to Tenant.of such failure; (2b) Failure any failure of Tenant to comply with or perform any covenant other of the terms, conditions or obligation covenants of this Lease to be performed by Tenant under this Lease, if the and such failure continues uncured for thirty (30) days after written notice from Landlord to Tenant specifying the such failure, other than except that in cases where Tenant cannot reasonably cure within said thirty (30) day period, only if Tenant fails to commence to cure within such thirty (30) day period and thereafter to diligently continue to cure the same until fully corrected; and (c) if both (i) those concerning the payment of Rent, (ii) those set forth in any of Sections 21, 35, 36 and 38 hereof, as to which there Tenant's estate created by this Lease shall be no cure rights hereundertaken upon execution, attachment or other process of law, and any such execution, attachment or other process be not vacated or set aside within thirty (iii30) those set forth in Sections 8.B. and 22 hereofdays thereafter, as to which or if Tenant shall be entitled to five (5) business days after notice from Landlord to Tenant specifying the failure within which to cure sameadjudged as bankrupt, (iv) those set forth in Sections 17 and 26 hereof, as to which Tenant shall be entitled to one (1) business day after notice from Landlord to Tenant specifying the failure within which to cure same, and (v) any Default arising under subsections (5) or (6) of this Section 19.A.; provided, however, that if the failure on the part of Tenant is not capable of being cured within such 30-day period but Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant’s time to cure such failure shall be extended for the time necessary to cure same, but in no event longer than ninety (90) days, inclusive of the original 30-day period. (3) [Intentionally omitted.] (4) If Tenant, any Guarantor or, if Tenant is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other Laws, or shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner. (5) If, within thirty (30) days after the commencement of any proceeding against Tenant or any Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other Laws, such proceeding shall not have been dismissed or if, within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise dischargedbankruptcy, or if any execution an involuntary petition in bankruptcy be filed and not vacated or attachment shall have been issued against the property of Tenant or of any Guarantor or Partner, pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied. set aside within ninety (6) If Tenant fails to take possession of the Premises on the Lease Commencement Date or vacates, abandons or ceases to carry on its ordinary activities in the Premises prior to the Lease Expiration Date, with or without an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (3090) days prior written notice that it intends to vacate the Premisesthereafter, and (ii) Tenant pays the full amount there otherwise occurs an Event of all Rent when due under this Lease while the Premises are vacant, Default as specified in subparagraphs "(iii) the fact that the Premises are vacant does not adversely affect the Building or other tenants therein a)" and does not result in any liability to, or expenditure of funds by, Landlord, and (iv) Tenant leaves the Premises, and continues to maintain the Premises, in the condition required by this Lease throughout the remainder of the Term, then, and in such event only, Tenant shall not be deemed to be in Default under this Section 19.A.(6)."

Appears in 2 contracts

Sources: Agreement of Sale (Plug Power Inc), Lease Agreement (Mechanical Technology Inc)

Default of Tenant. The This Lease is subject to the limitation that if at any time any of the following events (herein called a "Default") shall be a default by Tenant (a “Default”) under this Leaseoccur: (1i) Failure of if Tenant shall fail to pay Rent any installment of rent or any other charge required to be paid by Tenant hereunder, when the same shall become due and payable (it being specifically understood and agreed that the term "rent" includes the Minimum Annual Rent, the Percentage Rent, the share of real estate or other taxes and the share of cost of maintenance and operation of common areas, as referred to in this Lease and when due; provided, howeverany other consideration under the Lease, that with respect is identified as rent in this Lease), if such failure shall continue for five (5) days following written notice thereof to the first Tenant (or if more than two (2) such failures monetary defaults occur in a given Lease Year, then no further notice of monetary defaults need be given to Tenant in that Lease Year); or (ii) if Tenant abandons or vacates the premises; or (iii) if Tenant fails to either (a) be open for business to the public for more than three (3) days in any twelve one Lease Year (12excluding, however, Thanksgiving Day, Christmas Day and New Years Day, during which three (3) month period only, no Default days Tenant shall be deemed entitled to have occurred unless such failure continues close), or (b) be open for a period less than the minimum hours as required under Article 39 for more than an aggregate of five (5) business days after written notice thereof from Landlord to Tenant. (2) Failure of Tenant to comply with or perform any covenant or obligation of Tenant under this Lease, if the failure continues for thirty (30) days after notice from Landlord to Tenant specifying the failure, other than (i) those concerning the payment of Rent, (ii) those set forth in any of Sections 21, 35, 36 and 38 hereof, as to which there shall be no cure rights hereunder, (iii) those set forth in Sections 8.B. and 22 hereof, as to which Tenant shall be entitled to five (5) business days after notice from Landlord to Tenant specifying the failure within which to cure same, one Lease Year; or (iv) those set forth in Sections 17 and 26 hereof, as to which if Tenant shall be entitled violate or fail to one (1) business day after notice from Landlord to Tenant specifying the failure within which to cure sameperform or observe any other term, and (v) any Default arising under subsections (5) provision, covenant, condition or (6) requirement of this Section 19.A.; provided, however, that if the failure Lease on the part of Tenant is not capable of being cured within such 30-day period but Tenant expeditiously commences to cure same be performed or observed, and diligently proceeds with such cure, Tenant’s time to cure if such failure shall be extended continue for the time necessary to cure same, but in no event longer than ninety ten (90) days, inclusive of the original 30-day period. (3) [Intentionally omitted.] (4) If Tenant, any Guarantor or, if Tenant is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other Laws, or shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner. (5) If, within thirty (3010) days after the commencement of any proceeding against Tenant or any Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other Laws, such proceeding shall not have been dismissed or if, within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise discharged, or if any execution or attachment shall have been issued against the property of Tenant or of any Guarantor or Partner, pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied.written notice from Landlord; or (6v) If if Tenant fails to take possession keep in force any insurance required of the Premises on the Lease Commencement Date it hereunder (whether or vacates, abandons or ceases not notice of such failure is given by Landlord to carry on its ordinary activities in the Premises prior to the Lease Expiration Date, with or without an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (30) days prior written notice that it intends to vacate the Premises, (ii) Tenant pays the full amount of all Rent when due under this Lease while the Premises are vacant, (iii) the fact that the Premises are vacant does not adversely affect the Building or other tenants therein and does not result in any liability to, or expenditure of funds by, Landlord, and (iv) Tenant leaves the Premises, and continues to maintain the Premises, in the condition required by this Lease throughout the remainder of the Term, then, and in such event only, Tenant shall not be deemed to be in Default under this Section 19.A.(6Tenant).;

Appears in 1 contract

Sources: Assignment and Assumption Agreement (Mason George Bankshares Inc)

Default of Tenant. The Each of the following events shall be a default by Tenant (a “an "Event of Default”) " under this Lease: (1a) Failure any failure of Tenant to pay Rent as any rent when due and when due; provided, however, that with respect to the first two (2) such failures in any twelve (12) month period only, no Default shall be deemed to have occurred unless such failure continues uncured for a period of five fifteen (515) business days after written Landlord gives Tenant notice thereof from Landlord to Tenant.of such failure; (2b) Failure any failure of Tenant to comply with or perform any covenant other of the terms, conditions or obligation covenants of this Lease to be performed by Tenant under this Lease, if the and such failure continues uncured for thirty (30) days after written notice from Landlord to Tenant specifying the such failure, other than except that in cases where Tenant cannot reasonably cure within said thirty (30) day period, only if Tenant fails to commence to cure within such thirty (30) day period and thereafter to diligently continue to cure the same until fully corrected; and (c) if both (i) those concerning the payment of Rent, (ii) those set forth in any of Sections 21, 35, 36 and 38 hereof, as to which there Tenant's estate created by this Lease shall be no cure rights hereundertaken upon execution, attachment or other process of law, and any such execution, attachment or other process be not vacated or set aside within thirty (iii30) those set forth in Sections 8.B. and 22 hereofdays thereafter, as to which or if Tenant shall be entitled to five (5) business days after notice from Landlord to Tenant specifying the failure within which to cure sameadjudged as bankrupt, (iv) those set forth in Sections 17 and 26 hereof, as to which Tenant shall be entitled to one (1) business day after notice from Landlord to Tenant specifying the failure within which to cure same, and (v) any Default arising under subsections (5) or (6) of this Section 19.A.; provided, however, that if the failure on the part of Tenant is not capable of being cured within such 30-day period but Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant’s time to cure such failure shall be extended for the time necessary to cure same, but in no event longer than ninety (90) days, inclusive of the original 30-day period. (3) [Intentionally omitted.] (4) If Tenant, any Guarantor or, if Tenant is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other Laws, or shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner. (5) If, within thirty (30) days after the commencement of any proceeding against Tenant or any Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other Laws, such proceeding shall not have been dismissed or if, within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise dischargedbankruptcy, or if any execution an involuntary petition in bankruptcy be filed and not vacated or attachment shall have been issued against the property of Tenant or of any Guarantor or Partner, pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied. set aside within ninety (6) If Tenant fails to take possession of the Premises on the Lease Commencement Date or vacates, abandons or ceases to carry on its ordinary activities in the Premises prior to the Lease Expiration Date, with or without an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (3090) days prior written notice that it intends to vacate the Premisesthereafter, and (ii) Tenant pays the full amount there otherwise occurs an Event of all Rent when due under this Lease while the Premises are vacant, Default as specifi ed in subparagraphs "(iii) the fact that the Premises are vacant does not adversely affect the Building or other tenants therein a)" and does not result in any liability to, or expenditure of funds by, Landlord, and "(iv) Tenant leaves the Premises, and continues to maintain the Premises, in the condition required by this Lease throughout the remainder of the Term, then, and in such event only, Tenant shall not be deemed to be in Default under this Section 19.A.(6b)" above.

Appears in 1 contract

Sources: Agreement of Sale (Plug Power Inc)

Default of Tenant. The Tenant shall be in default if any of the following events ("Events of Default") shall be a default by occur: (a) Tenant (a “Default”) under this Lease: (1) Failure of Tenant shall fail to pay any installment of Rent as or any other obligation hereunder involving the payment of money and when due; provided, however, that with respect to the first two (2) such failures in any twelve (12) month period only, no Default shall be deemed to have occurred unless such failure continues shall continue for a period of five ten (510) business days after written notice thereof from to Tenant and, in accordance with Section 8.2, to each Leasehold Mortgagee who has provided notice to Landlord to Tenant. of its Leasehold Mortgage; (2b) Failure of Tenant to comply with or perform shall violate any covenant or material obligation of Tenant under this Lease, if Lease not involving the failure continues payment of money and such violation shall continue for a period of thirty (30) days after written notice from Landlord thereof to Tenant specifying the failureand, other than (i) those concerning the payment in accordance with Section 8.2, to each Leasehold Mortgagee who has provided notice to Landlord of Rent, (ii) those set forth in any of Sections 21, 35, 36 and 38 hereof, as to which there shall be no cure rights hereunder, (iii) those set forth in Sections 8.B. and 22 hereof, as to which Tenant shall be entitled to five (5) business days after notice from Landlord to Tenant specifying the failure within which to cure same, (iv) those set forth in Sections 17 and 26 hereof, as to which Tenant shall be entitled to one (1) business day after notice from Landlord to Tenant specifying the failure within which to cure same, and (v) any Default arising under subsections (5) or (6) of this Section 19.A.its Leasehold Mortgage; provided, however, that no Event of Default shall exist if the failure on the part of Tenant is violation cannot capable of being with due diligence be cured within such 30-day period but and Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant’s time shall have commenced to cure such failure violation and shall be extended proceeding with reasonable diligence to completely cure such violation; (c) the making of any general assignment for the time necessary to cure same, but in no event longer than ninety benefit of creditors by Tenant; (90d) days, inclusive the filing of the original 30-day period. (3) [Intentionally omitted.] (4) If Tenant, any Guarantor or, if Tenant is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt a voluntary petition for an arrangement or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution reorganization under the United States Federal Bankruptcy Act (or similar relief under statute or law of any present or future federal, state or other Laws, or shall make an assignment for the benefit of creditors, or shall seek or acquiesce in foreign jurisdiction) by Tenant; (e) the appointment of any trustee, a receiver or liquidator of Tenant or of any Guarantor or Partner or of trustee for all or any part substantially all of the property of Tenant or of such Guarantor or Partner. (5) If, within thirty (30) days after the commencement of any proceeding against Tenant or any Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other Laws, such proceeding shall not have been dismissed or if, within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise discharged, or if any execution or attachment shall have been issued against the property of Tenant or of any Guarantor or Partner, pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied. (6) If Tenant fails to take possession of the Premises on the Lease Commencement Date or vacates, abandons or ceases to carry on its ordinary activities Tenant's interest in the Premises prior to the Lease Expiration Date, or its leasehold estate hereunder if not removed with or without an intention of paying Rentone hundred and eighty (180) days; provided, however, that if and (i) Tenant gives Landlord at least thirty (30) days prior written notice that it intends to vacate the Premises, (ii) Tenant pays the full amount of all Rent when due under this Lease while the Premises are vacant, (iiif) the fact that the Premises are vacant does not adversely affect the Building entry of a final judgment, order or other tenants therein and does not result in any liability to, or expenditure decree of funds by, Landlorda court of competent jurisdiction adjudicating Tenant to be bankrupt, and (iv) Tenant leaves the Premises, and continues to maintain the Premises, in the condition required by this Lease throughout the remainder expiration without appeal of the Termperiod, thenif any, and allowed by applicable law in such event only, Tenant shall not be deemed which to be in Default under this Section 19.A.(6)appeal therefrom.

Appears in 1 contract

Sources: Lease Agreement (Six Flags Inc)

Default of Tenant. The following events shall be a default by Tenant (a “Default”a) under For purposes of this Lease: , any of the following shall constitute a "Tenant Default": (1i) Failure any failure of Tenant to pay any Base Rent as and when due; or any installment of Tenant's TI Contribution due hereunder within ten (10) days after written notice of default (provided, however, that with respect to the first two (2) if Lessor shall give three such failures notices in any twelve (12) month period, no notice of any further default shall be required during the balance of the twelve month period only, no Default shall be deemed commencing the first date of such notice); or (ii) any failure of Tenant to have occurred unless such failure continues for a period pay any Additional Rent which is not being contested in good faith pursuant to the provisions of five Section 6(c) hereof within ten (510) business days after written notice thereof from Landlord to Tenant. of default; or (2iii) Failure any failure of Tenant to comply with or perform any covenant other of the terms, conditions or obligation covenants of this Lease to be observed or performed by Tenant under this Lease, if the failure continues for more than thirty (30) days after written notice from Landlord of such failure shall have been given to Tenant specifying the failure, other than (i) those concerning the payment of Rent, (ii) those set forth in any of Sections 21, 35, 36 and 38 hereof, as to which there shall be no cure rights hereunder, (iii) those set forth in Sections 8.B. and 22 hereof, as to which Tenant shall be entitled to five (5) business days after notice from Landlord to Tenant specifying the failure within which to cure same, (iv) those set forth in Sections 17 and 26 hereof, as to which Tenant shall be entitled to one (1) business day after notice from Landlord to Tenant specifying the failure within which to cure same, and (v) any Default arising under subsections (5) or (6) of this Section 19.A.Tenant; provided, however, that if the failure on the part of Tenant is such default cannot capable of being with due diligence be wholly cured within such 30-day period but Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant’s time to cure such failure shall be extended for the time necessary to cure same, but in no event longer than ninety (90) days, inclusive of the original 30-day period. (3) [Intentionally omitted.] (4) If Tenant, any Guarantor or, if Tenant is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other Laws, or shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner. (5) If, within thirty (30) days after days, Tenant shall have such longer period as may be reasonably necessary to cure the commencement default, so long as Lessor proceeds promptly to commence the cure of any proceeding against Tenant or any Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other Laws, same within such proceeding shall not have been dismissed or if, within thirty (30) days after day period and diligently prosecutes the cure to completion, or (iv) if Tenant or any guarantor of this Lease shall file or have filed against it any petition or claim for relief under any federal or state law relating to bankruptcy or insolvency or for reorganization or for the appointment of any trustee, a receiver or liquidator of Tenant or any Guarantor or Partner, or trustee of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise discharged, or if any execution or attachment shall have been issued against the property of Tenant or of any Guarantor or Partner, pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied. (6) If Tenant fails to take possession of the Premises on the Lease Commencement Date or vacates, abandons or ceases to carry on its ordinary activities in the Premises prior to the Lease Expiration Date, with or without an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (30) days prior written notice that it intends to vacate the Premises, (ii) Tenant pays the full amount of all Rent when due under this Lease while the Premises are vacant, (iii) the fact that the Premises are vacant does not adversely affect the Building or other tenants therein and does not result in any liability to, or expenditure of funds by, Landlord, and (iv) Tenant leaves the Premises, and continues to maintain the Premises, in the condition required by this Lease throughout the remainder of the Term, then, and in such event only, Tenant shall not be deemed to be in Default under this Section 19.A.(6).or

Appears in 1 contract

Sources: Office/Warehouse Lease (Manufacturers Services LTD)

Default of Tenant. The Each of the following events shall be a default by Tenant (a “an "Event of Default”) " under this Lease:; (1a) Failure any failure of Tenant to pay any Rent as or Additional Rent when due and when due; provided, however, that with respect to the first two (2) such failures in any twelve (12) month period only, no Default shall be deemed to have occurred unless such failure continues uncured for a period of five (5) business days after written notice thereof from Landlord to Tenant.such due date; or (2b) Failure any failure of Tenant to comply with or perform any covenant other of the terms, conditions or obligation covenants of this Lease to be performed by Tenant under this Lease, if the and such failure continues uncured for thirty (30) days after written notice from Landlord to Tenant specifying the such failure, other than except that in cases where Tenant cannot reasonably cure within the thirty (30) day period, only if Tenant fails to commence to cure within such thirty (30) day period and thereafter to diligently continue to cure the same until fully corrected; and (c) if both (i) those concerning the payment of Rent, (ii) those set forth in any of Sections 21, 35, 36 and 38 hereof, as to which there Tenant's estate created by this Lease shall be no cure rights hereundertaken upon execution, attachment or other process of law, and any such execution, attachment or other process be not vacated or set aside within thirty (iii30) those set forth in Sections 8.B. and 22 hereofdays thereafter, as to which or if Tenant shall be entitled to five (5) business days after notice from Landlord to Tenant specifying the failure within which to cure sameadjudged as bankrupt, (iv) those set forth in Sections 17 and 26 hereof, as to which Tenant shall be entitled to one (1) business day after notice from Landlord to Tenant specifying the failure within which to cure same, and (v) any Default arising under subsections (5) or (6) of this Section 19.A.; provided, however, that if the failure on the part of Tenant is not capable of being cured within such 30-day period but Tenant expeditiously commences to cure same and diligently proceeds with such cure, Tenant’s time to cure such failure shall be extended for the time necessary to cure same, but in no event longer than ninety (90) days, inclusive of the original 30-day period. (3) [Intentionally omitted.] (4) If Tenant, any Guarantor or, if Tenant is a partnership, any partner of Tenant (“Partner”), shall file a voluntary petition in bankruptcy or insolvency, shall be adjudicated bankrupt or insolvent or shall file a petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future federal, state or other Laws, or shall make an assignment for the benefit of creditors, or shall seek or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any Guarantor or Partner or of all or any part of the property of Tenant or of such Guarantor or Partner. (5) If, within thirty (30) days after the commencement of any proceeding against Tenant or any Guarantor or Partner, whether by the filing of a petition or otherwise, seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future applicable federal, state or other Laws, such proceeding shall not have been dismissed or if, within thirty (30) days after the appointment of any trustee, receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any part of the property of Tenant or of any Guarantor or Partner, without the acquiescence of such individual or entity, such appointment shall not have been vacated or otherwise dischargedbankruptcy, or if any execution an involuntary petition in bankruptcy be filed and not vacated or attachment shall have been issued against the property of Tenant or of any Guarantor or Partner, pursuant to which the Premises shall be taken or occupied or attempted to be taken or occupied. set aside within ninety (6) If Tenant fails to take possession of the Premises on the Lease Commencement Date or vacates, abandons or ceases to carry on its ordinary activities in the Premises prior to the Lease Expiration Date, with or without an intention of paying Rent; provided, however, that if (i) Tenant gives Landlord at least thirty (3090) days prior written notice that it intends to vacate the Premisesthereafter, and (ii) Tenant pays the full amount there otherwise occurs an Event of all Rent when due under this Lease while the Premises are vacant, Default as specified in subparagraphs "(iii) the fact that the Premises are vacant does not adversely affect the Building or other tenants therein a)" and does not result in any liability to, or expenditure of funds by, Landlord, and (iv) Tenant leaves the Premises, and continues to maintain the Premises, in the condition required by this Lease throughout the remainder of the Term, then, and in such event only, Tenant shall not be deemed to be in Default under this Section 19.A.(6)."

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Sources: Lease Agreement (National Medical Health Card Systems Inc)