INSOLVENCY OF TENANT Clause Samples

INSOLVENCY OF TENANT. If the term of any of the goods or chattels of the Tenant shall be at any time seized or taken in execution or in attachment by any creditor of the Tenant, or if a writ of execution shall be issued against the goods and chattels of the Tenant and remain unsatisfied for ten days, or if the Tenant shall execute any chattel, mortgage or b▇▇▇ of sale of any of its goods or chattels, other than a b▇▇▇ of sale of goods in the ordinary course of the Tenant’s business, or if the Tenant shall make any assignment for the benefit of creditors of any bulk sale or shall be adjudged bankrupt or insolvent by any court of competent jurisdiction under any legislation then in force of shall take the benefit of any Act that may be in force for bankrupt or insolvent debtors or shall attempt to abandon the Premises, or to sell or dispose of its goods and chattels so that there would not remain after such sale or disposal a sufficient distress on the Premises in the opinion of the Landlord for the then accruing rent, then the current month’s rent, together with the rent for the three months next ensuing and all additional rent and other sums payable hereunder for the said three months next ensuing shall immediately become due and payable, and the term shall, at the option of the Landlord forthwith be determined and in each of the above cases such accelerated rent, additional rent and other amounts shall be recoverable by the Landlord as if it were rent in arrears.

INSOLVENCY OF TENANT. 15.01 Either (a) the appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or (b) a general assignment by Tenant for the benefit of creditors, or (c) any action taken or suffered by Tenant under any insolvency or bankruptcy act shall, if any such appointment, assignment or action continues for a period of sixty (60) days, constitute a breach of this Lease by Tenant, and Landlord may at its elecfion without notice, terminate this Lease and in that event be entitled to immediate possession of the Leased Premises and damages as provided below.

INSOLVENCY OF TENANT. Either (a) the appointment of a trustee, receiver or liquidator to take possession of all or substantially all of the assets of Tenant, or (b) a general assignment by Tenant for the benefit of creditors, or (c) any action taken or suffered by Tenant under any insolvency or bankruptcy act, shall constitute a default of this Lease by Tenant, and Landlord may terminate this Lease forthwith, and upon notice of such termination, Tenant's right to possession of the Premises shall cease, and Tenant shall remain liable as hereinafter provided in Section 16. Notwithstanding the foregoing, Tenant will have sixty (60) days to dismiss any action taken against it and if such action is dismissed within said period, the Tenant will not be in default.

INSOLVENCY OF TENANT an assignment by Tenant for the benefit of creditors; the filing by Tenant of a voluntary petition in bankruptcy; an adjudication that Tenant is bankrupt or the appointment of a receiver of the properties of Tenant; or the filing of any involuntary petition of bankruptcy and failure of Tenant to secure a dismissal of the petition within 90 days after filing shall constitute a default. If Tenant consists of two or more individuals or business entities, the events of default specified in this Section 13.3 shall apply to each individual unless within ten (10) days after an event of default occurs, the remaining individuals produce evidence satisfactory to Landlord that they have unconditionally acquired the interest of the one causing the default. If this Lease has been assigned, the events of default so specified shall apply only with respect to Tenant and to the one then exercising the rights of Tenant under this Lease.

INSOLVENCY OF TENANT. All of the Liabilities and the obligations of Guarantor hereunder shall be immediately due and payable by Guarantor, anything contained herein to the contrary notwithstanding, immediately upon the application for appointment or appointment of a trustee, receiver, conservator, liquidator, sequester, custodian, or other similar judicial representative for Tenant or any of Tenant’s assets; the making by Tenant of any assignment for the benefit of creditors; the commencement of an action by or against Tenant under any insolvency, bankruptcy, creditor adjustment or debtor rehabilitation law, state or federal, including arrangement, composition, liquidation or reorganization laws; the commencement of levy, execution or attachment proceedings against Tenant or any of Tenant’s assets that could reasonably be expected to have a material adverse effect on Tenant’s financial condition, whether or not Landlord has exercised any option which it may have to require payment in full or acceleration of payment of the Liabilities from any other person liable for payment of the Liabilities.

INSOLVENCY OF TENANT. Tenant agrees that in the event all or substantially all of its assets are placed in the hands of a receiver or trustee, and in the event such receivership or trusteeship continues for a period of ten (10) days, or should Tenant make an assignment for the benefit of creditors, or should there be proceedings under any state or federal bankruptcy act where Tenant seeks to be adjudicated a bankrupt, or seeks to be discharged of its debts, or should any voluntary proceeding be filed against such Tenant under such bankruptcy laws and Tenant consents thereto or acquiesces therein by pleading or default, then this Lease or any interest in and to the Premises shall not become an asset in any of such proceedings and, in any of such event and in addition to any and all rights or remedies of Landlord hereunder or as provided by law, it shall be lawful for Landlord, at its option, to declare the Lease Term ended and to re-enter the Premises and take possession thereof and remove all persons therefrom and Tenant shall have no further claim therein or hereunder.

INSOLVENCY OF TENANT an assignment by Tenant for the benefit of creditors; the filing by Tenant of a voluntary petition in bankruptcy; an adjudication that Tenant is bankrupt or the appointment of a receiver of the properties of Tenant; the filing of any involuntary petition of bankruptcy and failure of Tenant to secure a dismissal of the petition within forty-five (45) days after filing; attachment of or the levying of execution on the leasehold interest and failure of Tenant to secure discharge of the attachment or release of the levy of execution within ten (10) days.

INSOLVENCY OF TENANT. The (a) appointment of a receiver to take possession of all or substantially all of the assets of the Tenant which appointment is not stayed or vacated in thirty (30) days, or (b) general assignment by the Tenant for the benefit of creditors, or (c) the initiation of a proceeding by or against the Tenant under any bankruptcy or insolvency law not vacated or stayed in thirty (30) days, or (d) the Tenant’s inability or failure to pay its creditors on a timely basis, shall constitute a default of this Lease by the Tenant, and the Landlord may terminate this Lease forthwith, and upon notice of such termination Tenant’s right to possession of the Premises shall cease, and the Tenant shall then quit and surrender the Premises to the Landlord, but the Tenant shall remain liable as provided in this Lease.

INSOLVENCY OF TENANT. In the event of the insolvency of Tenant, or the filing of a proceeding by or against Tenant or any partner of Tenant or guarantor of this Lease under the Bankruptcy Code or if relief is sought by Tenant under any similar debtor relief laws or proceedings including an offer in or out of court for the compromise of Tenant's debts, or any substantial part thereof, Landlord in addition to any rights available to it at law or equity shall have the right and privilege to immediately terminate this Lease. Landlord shall have the right to immediately re-enter into possession of the Premises for the purpose of leasing same.