Common use of PROVISO FOR RE-ENTRY Clause in Contracts

PROVISO FOR RE-ENTRY. 4.1.1 The Landlord may terminate this Lease by re-entering the Premises (or a part of them) itself or by an authorised agent if: (a) any rent remains unpaid 21 days after becoming due for payment (whether or not formally demanded in the case of the yearly principal rent); or (b) the Tenant fails to perform or observe any of its covenants or the conditions in this Lease or allows any distress or execution to be levied on its goods; or (c) an event of insolvency occurs in relation to the Tenant or any guarantor of the Tenant; or (d) the Tenant or any guarantor of the Tenant being a company incorporated in the United Kingdom is: (i) struck off the register of companies; or (ii) being an unlimited company is registered with limited liability; or (e) any circumstances exist or event occurs with respect to the Tenant or any guarantor of the Tenant in any jurisdiction which has an effect equivalent or similar to any of those mentioned in this Clause 4.1 (Proviso for re-entry). 4.1.2 Re-entry in exercise of the rights in Clause 4.1.1 does not affect any other right or remedy of the Landlord for breach of covenant or condition by the Tenant occurring before the termination of this Lease. 4.1.3 The expression “an event of insolvency” in Clause 4.1.1 includes: (a) (in relation to a body corporate which is the Tenant or a guarantor) inability of the body corporate to pay its debts, entry into liquidation whether compulsory or voluntary (except for the purpose of amalgamation or reconstruction), the passing of a resolution for a creditors’ winding-up, the making of a proposal to the body corporate and its creditors for a composition in satisfaction of its debts or a scheme of arrangement of its affairs, the application to the court for an administration order, the giving of a notice of appointment or intention to appoint an administrator or liquidator and the appointment of a receiver or administrative receiver; and (b) (in relation to an individual who is the Tenant or a guarantor) inability to pay or having no reasonable prospect of being able to pay his debts, the presentation of a bankruptcy petition, the making of a proposal to his creditors for a composition in satisfaction of his debts or a scheme of an arrangement of his affairs, the application to the court for an interim order, and the appointment of a receiver or interim receiver, and in relation to the various events of insolvency they are, wherever appropriate, to be interpreted in accordance and conjunction with the relevant provisions of the Insolvency ▇▇▇ ▇▇▇▇.

PROVISO FOR RE-ENTRY. 4.1.1 The Landlord may terminate this Lease by re-entering the Premises (or a part of them) itself or by an authorised agent if: (a) 4.1.1.1 any rent remains unpaid 21 days after becoming due for payment (whether or not formally demanded in the case of the yearly principal rentdemanded); or (b) 4.1.1.2 the Tenant fails to perform or observe any of its covenants or the conditions in this Lease or allows any distress or execution to be levied on its goodsgoods which is not satisfied within 7 days; or (c) 4.1.1.3 an event of insolvency occurs in relation to the Tenant or any guarantor of the Tenant; or (d) the Tenant or any guarantor of the Tenant being a company incorporated in the United Kingdom is: (i) struck off the register of companies; or (ii) being an unlimited company is registered with limited liability; or (e) any circumstances exist or event occurs with respect to the Tenant or any guarantor of the Tenant in any jurisdiction which has an effect equivalent or similar to any of those mentioned in this Clause 4.1 (Proviso for re-entry). 4.1.2 Re-entry in exercise of the rights in Clause clause 4.1.1 does not affect any other right or remedy of the Landlord for breach of covenant or condition by the Tenant occurring before the termination of this Lease. 4.1.3 The expression “an event of insolvency” insolvency in Clause clause 4.1.1 includes: (a) 4.1.3.1 (in relation to a body corporate company or other corporation which is the Tenant or a guarantor) inability of the body corporate company to pay its debts, entry into liquidation whether compulsory or voluntary (except for the purpose of amalgamation or reconstruction), the passing of a resolution for a creditors’ ' winding-up, the making of a proposal to the body corporate company and its creditors for a composition in satisfaction of its debts or a scheme of arrangement of its affairs, the application to the court for an administration order, the giving of a notice of appointment or intention to appoint an administrator or liquidator and the appointment of a receiver or administrative receiver; and (b) 4.1.3.2 (in relation to an individual who is the Tenant or a guarantor) inability to pay or having no reasonable prospect of being able to pay his debts, the presentation of a bankruptcy petition, the making of a proposal to his creditors for a composition in satisfaction of his debts or a scheme of an arrangement of his affairs, the application to the court for an interim order, and the appointment of a receiver or interim receiver, ; and in relation to the various events of insolvency they are, wherever appropriate, to be interpreted in accordance and conjunction with the relevant provisions of the Insolvency ▇▇▇ ▇▇▇▇Act 1986.