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6C(4) Lease for 131 S. Michigan St
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6C(4) Lease for 131 S. Michigan St
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8/18/2010 9:23:54 AM
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Landlord specifying the items in default unless such default is of such nature that it camlot be cured within such <br />thirty (30) day period, in which case no Event of Default shall occur so long as the Tenant shall conmlence the <br />curing of the default within such thirty (30) day period and shall thereafter diligently prosecute the curing of same; <br />provided, however, if the Tenant shall default in the performance of any such covenant or agreement of this Lease <br />more than one time in any twelve (12) month period notwithstanding that such default shall have been cured by <br />Tenant, the second and further defaults in said twelve (12) month period may be deemed by Landlord, in its sole <br />discretion, an Event of Default without the ability for cure. <br />(d) Falsification of Information. If Tenant, any guarantor of Tenant's obligations under this Lease, or <br />any agent of Tenant falsifies any report in any material respect or misrepresents other information in any material <br />respect required to be furnished to Landlord pursuant to this Lease. <br />(e) Merger or Consolidation. If Tenant is merged or consolidated with any other entity, or there is a <br />transfer of a controlling interest in Tenant, other than as permitted in Section 13.1 (b) of this Lease. <br />(fl Tenants or Guarantor's Death Dissolution or Liquidation. The death of Tenant or any guarantor <br />of Tenant's obligations under this Lease; or the commencement of steps or proceedings toward the dissolution, <br />winding up, or other termination of the existence of Tenant or of any guarantor of Tenant's obligations, or toward <br />the liquidation of either of their respective assets. <br />(g) Bankruptcy. The commencement of a case under any chapter of the United States Bankruptcy <br />Code by or against Tenant or any guarantor of Tenant's obligations hereunder, or the filing of a voluntary or <br />involuntary petition proposing the adjudication of Tenant or any such guarantor as bankrupt or insolvent, or the <br />reorganization of Tenant or any such guarantor, or an arrangement by Tenant or any such guarantor with its <br />creditors, unless the petition is filed or case conmmenced by a party other than Tenant or any such guarantor and is <br />withdrawn or dismissed within thirty (30) days after the date of its filing. <br />(h) Assienment or Attachment. The making of an assignment by Tenant or any guarantor of Tenants <br />obligations hereunder for the benefit of its creditors, or if in any other manner Tenant's interest in this Lease passes <br />to another by operation of law, including, without limitation, by attachment, execution, or similar legal process, <br />which is not discharged or vacated within thirty (30) days, except as permitted under this Lease. <br />(i) Appointment of Receiver or Trustee. The appointment of a receiver or trustee for the business or <br />property of Tenant or any guarantor of Tenant's obligations hereunder, unless such appointment shall be vacated <br />within ten (]0) days after its entry. <br />(j) Inability to Pay. The admission in writing by Tenant or any guarantor of Tenant's obligations <br />under this Lease of its inability to pay its debts when due. <br />(k) Breach by Guarantor. The breach by any guarantor of any of that guarantor's obligations under its <br />guaranty. <br />(1) As Otherwise Provided. The occurrence of any other e~~ent described as a default elsewhere in the <br />Lease or any amendment thereto, re~~ardle,s of whether such e~~ent is defined as an "Event of Default.'" <br />1 1.2. Remedies. Upon the occurrence of an Event of Default. Landlord.. without notice to Tenant in any <br />instance (except where expressly provided for below or by applicable law) may do any one or more of the followv~g: <br />(a) Satisfy Tenant Oblieations. Landlord may perforni, on behalf of and at the expense of Tenant, any <br />obli~~ation of Tenant under this Lease which Tenant has failed to perform and of which Landlord has given Tenant <br />notice (entering upon the Premises for such purpose, if necessary), the cost of which performance by Landlord, plus <br />interest thereon at the lesser of (i) the hi~~hest rate permitted by law. or (ii) eighteen percent (18%) per annum from <br />the date of such expenditure, and reasonable cost and expense incurred by Landlord, shall be deemed Additional <br />Rent and shall be payable by Tenant to Landlord with the first Rent installment thereafter becoming due and <br />payable. The performance by Landlord of any Tenant obligation under this Section 112(a) shall not be construed <br />
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