5A(1) Lease for 131 S. Michigan - Laserfiche WebLink

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such terms, covenants and conditions are commercially reasonable in the context of a bankruptcy proceeding of Tenant. Any person or entity to which this Lease is assigned pursuant to the provisions of the Code shall be deemed without further act or deed to have assumed all of the obligations arising under this Lease on and after the date of such assignment. Any such assignee shall upon request execute and deliver to Landlord an instrument confirming such assignment and assumption in form acceptable to Landlord. (c) Adequate Protection. Upon the filing of a petition by or against Tenant under the Code, Tenant, as Debtor and as Debtor in Possession, and any Trustee who may be appointed hereby agree to adequately protect Landlord as follows: i. To immediately perform each and every obligation of Tenant under this Lease until such time as this Lease is either rejected or assumed by order of the bankruptcy court; ii. To pay all monetary obligations required under this Lease, including, without limitation, the payment of Basic Rent and such Additional Rent charges payable hereunder which is considered reasonable compensation for the use and occupancy of the Premises; iii. Provide Landlord a minimum thirty (30) days' prior written notice, unless a shorter period is agreed to in writing by Landlord, of any proceeding relating to any assumption of this Lease or any intent to abandon the Premises, which abandonment shall be deemed a rejection of this Lease; and iv. To perform to and for the benefit of Landlord as otherwise required under the Code. The failure of Tenant to comply with the above shall result in an automatic rejection of this Lease and the automatic stay under Section 362 of the Code shall automatically be terminated as to Landlord and the Premises. (d) Accumulative Rights. The rights, remedies and liabilities of Landlord and Tenant set forth in this Section 11.7 shall be in addition to those which may now or hereafter be accorded, or imposed upon, Landlord and Tenant by the Code. (e) Changes in Code. If the Code is changed or amended such that any references in this Section 11.7 to particular provisions or terms of art lose the meaning that they have as of the Effective Date, such provisions or terms of art of this Lease shall be deemed to be amended to reflect such changes in the Code. ARTICLE XII. ESTOPPEL CERTIFICATES, ATTORNMENT, AND SUBORDINATION. 12.1. Estoppel Certificates. Tenant and Landlord agree to execute and deliver, within ten (10) days after request therefor by the other party, a statement, in writing, certifying to Landlord and/or any party designated by Landlord, or Tenant and/or any party designated by Tenant, as the case may be, that: (a) this Lease is in full force and effect; (b) the Commencement Date; (c) that Rent is paid currently without any off-set or defense thereto, (d) the amount of Rent, if any, paid in advance; (e) that there are no known uncured defaults by Landlord or Tenant, or stating those known and claimed, provided that, in fact, such facts are accurate and ascertainable, and (f) any other information reasonably requested. 12.2. Attornment. In the event any proceedings are brought for the foreclosure of, or in the event of conveyance by deed-in-lieu of foreclosure of, or in the event of exercise of the power of sale under any mortgage made by Landlord covering the Premises, Tenant hereby attorns to the successor-in-interest of Landlord and covenants and agrees to execute an instrument in writing reasonably satisfactory to same whereby Tenant attorns to such successor-in-interest and recognizes such successor-in-interest as Landlord hereunder. 12.3. Subordination. (a) Landlord shall have the right at any time and from time-to-time to create security interests in the form of a mortgage, deed of trust or other similar lien or encumbrance (a "Mort~a~~e") upon or affecting Landlord's