My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
5A(1) Lease for 131 S. Michigan
sbend
>
Public
>
Redevelopment Commission
>
Agendas & Packets
>
2010
>
09-03-10 Packet
>
5A(1) Lease for 131 S. Michigan
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/1/2010 10:19:25 AM
Creation date
8/31/2010 3:39:28 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
35
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
Landlord specifying the items in default unless such default is of such nature that it cannot be cured within such <br />thirty (30) day period, in which case no Event of Default shall occur so long as the Tenant shall commence 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 />(f) Tenant's 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 commenced 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) Assignment 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 (10) 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 event described as a default elsewhere in the <br />Lease or any amendment thereto, regardless of whether such event is defined as an "Event of Default." <br />11.2. 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 following: <br />(a) Satisfy Tenant Obli atg ions. Landlord may perform, on behalf of and at the expense of Tenant, any <br />obligation 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 highest 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 11.2(a) shall not be construed <br />
The URL can be used to link to this page
Your browser does not support the video tag.