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6A (2)
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6A (2)
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11/1/2012 9:49:18 AM
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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withdrawn or dismissed within thirty (30) days after the date of its filing.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 Tenant's <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 />0) 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 />0) 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 />either as a waiver of the Event of Default or of any other right or remedy of Landlord with respect to such Event of <br />Default or as a waiver of any term or condition of this Lease. Notwithstanding the provisions of this Section 11.2(a) <br />and regardless of whether an Event of Default shall have occurred, Landlord may exercise the remedy described in <br />this Section 11.2(a) without any notice to Tenant if Landlord, in its good faith judgment, believes that it or the <br />Premises would be materially injured by failure to take rapid action or if the unperformed obligation of Tenant <br />constitutes an emergency. <br />(b) Tennination of Lease. Landlord may terminate this Lease, by written notice to Tenant, without <br />any right by Tenant to reinstate its right by payment of Rent due or other performance of the terms and conditions <br />hereof. Upon such termination, Tenant shall immediately surrender possession of the Premises to Landlord, and <br />Landlord shall, in addition to all other rights and remedies that Landlord may have, immediately become entitled to <br />receive from Tenant: (i) an amount equal to the aggregate of all Base Rent and Additional Rent which then remains <br />due to Landlord but unpaid by Tenant; (ii) reasonable costs and expenses incurred by Landlord in connection with a <br />re -entry or taking of possession of the Premises; (iii) reasonable costs and expenses incurred by Landlord in <br />connection with making alterations and repairs for the purpose of reletting the Premises; (iv) reasonable attorneys' <br />fees; (v) the unamortized value of the Construction Allowance, if any. <br />
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