Common use of Events of Default of Tenant Clause in Contracts

Events of Default of Tenant. The occurrence of any of the following shall constitute a material "Event of Default" and breach of this Lease by Tenant: (a) Any failure by Tenant to pay any installment of rent or other monetary required to be paid hereunder when due, ten (10) business days after written notice thereof from Landlord to Tenant; (b) Any failure by Tenant to perform or observe any covenant, condition or agreement to be performed by Tenant under this Lease, other than a failure to pay rent or any other sum when due, where such failure continues for thirty (30) days after written notice from Landlord to Tenant specifying the nature of such breach, or, if such failure cannot be cured within thirty (30) days thereafter, if curative action is not commenced and thereafter prosecuted to completion with due diligence; (c) Tenant shall fail to promptly move into and take possession of the Premises when the Premises are ready for occupancy or shall cease to do business in or abandon any substantial portion of the Premises; or (d) The occurrence of any of the following: (i) All or substantially all of the Tenant's assets being placed in the hands of a receiver or trustee, and such receivership or trusteeship continues for a period of thirty (30) days; (ii) Tenant making an assignment for the benefit of creditors, being finally adjudicated a bankrupt, or becoming insolvent in either the equity or bankruptcy sense; (iii) Tenant instituting any proceedings under the Bankruptcy Act as the same now exists or under any amendment thereto which may hereafter be enacted, or under any other act relating to the subject of bankruptcy including, but not limited to, any proceeding wherein the Tenant seeks to be adjudicated a bankrupt, or to be discharged of its debts, or to effect a plan of liquidation, composition, extension or reorganization; (iv) Any involuntary proceeding being filed against the Tenant under any such Bankruptcy laws and such proceeding not being dismissed within sixty (60) days thereafter; or (v) Dispossession of Tenant from the Premises due to attachment, levy, imposition of Federal tax lien or other legal proceedings which cause Tenant to remain out of possession for a continuous period of five (5) or more days. In the event any of the above provisions of this Subsection 10.1(d) should occur, then this Lease, and any interest of Tenant in and to the Premises, shall not become an asset in any of such proceedings and, in any such events and in addition to any and all rights or remedies of the Landlord hereunder or by law provided, it shall be lawful for the Landlord to declare the term hereof ended and to reenter the Premises and take possession thereof and remove all persons therefrom, and the Tenant shall have no further claim thereon or hereunder. The provisions of this Article X shall also apply to any guarantor of this Lease.

Events of Default of Tenant. The occurrence of any Each of the following acts, omissions or occurrences shall constitute a material an "Event of DefaultDefault of Tenant" and breach of this Lease by Tenanthereunder: (a) Any failure A. Failure by Tenant to pay any installment or cause to be paid, within three (3) business days of the date required, rent or other monetary required specified to be paid hereunder when due, ten (10) business days after written notice thereof from Landlord under Section 2.1 hereof or any other monetary amount due to TenantLandlord; (b) Any failure B. The vacating of the Leased Premises by ▇▇▇▇▇▇; C. Failure of Tenant to observe and perform or observe any covenant, condition or agreement to be performed by of Tenant under this Lease, other than a failure to pay rent or any other sum when duebreach addressed in Section 12.1(A) above, where within ten days (10) after the date Tenant receives written notice of such failure continues for thirty (30) days after written notice from Landlord to Tenant specifying the nature of such breachperformance, or, if such failure canwith respect to failures of performance not be cured susceptible of cure within thirty ten (3010) days thereafterupon approval in writing by the Landlord, if curative action is not commenced and the failure of Tenant to thereafter prosecuted diligently prosecute same to completion with due diligence; and/or cure the same within sixty (c) Tenant shall fail to promptly move into and take possession of the Premises when the Premises are ready for occupancy or shall cease to do business in or abandon any substantial portion of the Premises; or (d) The occurrence of any of the following: (i) All or substantially all of the Tenant's assets being placed in the hands of a receiver or trustee, and such receivership or trusteeship continues for a period of thirty (3060) days; D. A default in the observance or performance of any of Tenant’s covenants or obligations under this Lease shall include without limitation: (iiA) the revocation or nonrenewal of any license or certificate required to operate the nursing facility or any other use permitted under this Lease; (B) the involuntary termination of any Medicare or Medicaid provider agreement; (C) the conviction of any person having a 5% or more ownership interest in Tenant making of any criminal offense related to federal health care programs; (D) the exclusion of any person having a 5% or more ownership interest in Tenant from direct and/or indirect participation in either the Medicare or Medicaid Programs, including any State program; (E) a final substantiated determination by any authorized government agency or a conviction of Tenant or any person having a 5% or more ownership interest in Tenant for resident abuse, neglect, or exploitation. E. Tenant shall make a transfer in fraud to creditors or shall make an assignment for the benefit of creditors, being finally adjudicated creditors or Tenant shall file a bankrupt, or becoming insolvent in either the equity or bankruptcy sense; (iii) Tenant instituting any proceedings under the Bankruptcy Act as the same now exists or petition under any amendment thereto which may hereafter be enactedsection or chapter of the United States Bankruptcy Code, as amended, or under any other act relating to similar law or statue of the subject of bankruptcy including, but not limited to, United States or any proceeding wherein the Tenant seeks to be adjudicated a bankruptstate thereof, or Tenant shall be adjudged bankrupt or insolvent in proceeding filed against Tenant thereunder or the filing or execution or occurrence (or contemplation thereof) of any of following: (i) the appointment of a trustee or receiver to be discharged take possession of its debts, substantially all of Tenant's assets or to effect a plan of liquidation, composition, extension Tenant's leasehold estate in the Leased Premises; or reorganization(ii) the judicial seizure of substantially all of Tenant's assets or Tenant's leasehold estate in the Leased Premises; (iv) F. Any involuntary proceeding being filed against the Tenant under any such Bankruptcy laws and such proceeding not being dismissed within sixty (60) days thereafter; or (v) Dispossession representation or warranty of Tenant from the Premises due to attachment, levy, imposition of Federal tax lien is breached or other legal proceedings which cause Tenant to remain out of possession for a continuous period of five (5) is false or more days. In the event any of the above provisions of this Subsection 10.1(d) should occur, then this Lease, and any interest of Tenant in and to the Premises, shall not become an asset misleading in any of such proceedings and, in any such events and in addition to any and all rights material respect when made or remedies of which becomes false during the Landlord hereunder or by law provided, it shall be lawful for the Landlord to declare the term hereof ended and to reenter the Premises and take possession thereof and remove all persons therefrom, and the Tenant shall have no further claim thereon or hereunder. The provisions of this Article X shall also apply to any guarantor pendency of this Lease; G. Any sublease, transfer of membership interest in Tenant, assignment of this lease, and/or any party filing for a licensure change of ownership.