Common use of Tenant’s Events of Default Clause in Contracts

Tenant’s Events of Default. Upon the occurrence of one or more of the following Events of Default, Landlord shall have any and all rights and remedies set forth in this Lease and at law: (a) In the event Tenant should fail to pay any one or more installments of Base Rent, or any other sums required to be paid as Additional Rent, as and when they become due. (b) In the event a petition in bankruptcy under any present or future bankruptcy laws (including but not limited to reorganization proceedings) be filed by or against Tenant and such petition is not dismissed within thirty (30) days from the filing thereof, or in the event an order for relief under Title II, U.S.C. is entered with respect to Tenant is adjudged to be bankrupt. (c) In the event an assignment for the benefit of creditors is made by Tenant; (d) In the event of an appointment by any court of a receiver or other court officer of the property of Tenant and such receivership is not dismissed within thirty (30) days from such appointment; (e) Intentionally deleted. (f) In the event Tenant, before the expiration of the Lease Term, vacates or abandons the Premises, i.e., fails to occupy and use the Premises for thirty (30) days or more for causes other than fire, casualty or force majeure; (g) In the event Tenant uses the Premises for any purpose other than the Permitted Use of Premises, or ceases to use the Premises for the Permitted Use of the Premises; (h) In the event Landlord discovers that any material representation, warranty or financial statement given to Landlord by Tenant, was materially false or misleading when given. (i) In the event Tenant violates any other term, condition or covenant on the part of Tenant to be performed hereunder, and fails to commence the remedy of the same within ten (10) days after written notice thereof is given by Landlord to Tenant and complete such remedy within thirty (30) consecutive days after such written notice; provided, however, that if such violation is not curable within thirty (30) days, then the Tenant shall be required to have commenced such remedy within such ten (10) days subsequent to such notice and continuously pursues such cure thereafter until completed.

Tenant’s Events of Default. Upon the occurrence of one or more of the following Events of Default, Landlord shall have any and all rights and remedies set forth in this Lease and at lawLease: (a) In the event Tenant should fail to pay any one or more monthly installments of Base Rent, or any other sums required to be paid as Additional Rent, as and when they become due; provided that Tenant shall receive written notice of payment default and have five (5) days following said notice to pay the monthly installment (together with any additional sums due under Section 16.02, if any) in full as to the first of such occurrences of such payment default during any calendar year. If Landlord provides one (1) payment default notice in any calendar year no subsequent payment default during that calendar year shall require notice nor be subject to any grace period. (b) In the event a petition in bankruptcy under any present or future bankruptcy laws (including but not limited to reorganization proceedings) be filed by or against Tenant or any guarantor of this Lease and such petition is not dismissed within thirty (30) days from the filing thereof, or in the event an order for relief under Title II, U.S.C. is entered with respect to Tenant or any guarantor of this Lease is adjudged to be bankrupt. (c) In the event an assignment for the benefit of creditors is made by TenantTenant or any Guarantor of this Lease; (d) In the event of an appointment by any court of a receiver or other court officer of the property of Tenant or of any Guarantor of this Lease, and such receivership is not dismissed within thirty (30) days from such appointment; (e) Intentionally deleted.In the event Tenant removes, attempts to remove, or permits to be removed from the Premises, except in the usual course of trade, the goods, furniture, effects or other property of Tenant brought thereon; (f) In the event Tenant, before the expiration of the Lease Term, substantially vacates or abandons the Premises, i.e., fails to occupy and use the Premises for thirty (30) days or more for causes other than fire, fire casualty or force majeure; (g) In the event Tenant uses the Premises for any purpose other than the Permitted Use of Premises, or ceases to use the Premises for the Permitted Use of the Premises; (h) In the event Landlord discovers that any material representationan execution or other legal process is levied upon the goods, warranty furniture, effects or financial statement given to Landlord by Tenantother property of Tenant brought on the Premises, was materially false or misleading when given.upon the interest of Tenant in this Lease, and the same is not satisfied or dismissed within ten (10) days from such levy; (i) In the event Tenant violates any other term, condition or covenant on the part of Tenant to be performed hereunder, and fails to commence the remedy of the same within ten (10) days after written notice thereof is given by Landlord to Tenant and complete such remedy within thirty (30) consecutive days after such written notice; provided, however, that if such violation is not curable within thirty (30) days, then the Tenant shall be required to have commenced such remedy within such ten (10) days subsequent to such notice and continuously pursues such cure thereafter until completed.