My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
6C(2)
sbend
>
Public
>
Redevelopment Commission
>
Agendas & Packets
>
2014
>
08-28-14 Redevelopment Commisssion Meeting
>
6C(2)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/25/2014 10:55:52 AM
Creation date
8/25/2014 10:55:47 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
21
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
ti <br /> 15. Events of Default by Lessee. Each of the following events shall constitute an "Event of <br /> Default" for purposes of this Lease: (i) Lessee defaults in the payment when due of the Rental <br /> Payment or any other amounts owed by Lessee to Lessor under the terms of this Lease, (ii) <br /> Lessee fails to perform any obligation or observe any covenant or condition to be performed or <br /> observed by Lessee, or breaches any representation or provision contained herein and such <br /> failure shall continue un-remedied for thirty(30) consecutive calendar days; (iii) Lessee ceases to <br /> operate the Facility during the term of the Lease; (iv) Lessee: (a) makes an assignment for the <br /> benefit of creditors; (b) becomes insolvent; (c) admits in writing an inability to pay its debts as <br /> they become due; (d)becomes the subject of a voluntary or involuntary case commenced under the <br /> United States Bankruptcy Code, as now constituted or hereafter amended, or any other applicable <br /> Federal or state bankruptcy, insolvency or similar law; (e) is dissolved or liquidated, or any action <br /> is taken which could result in the dissolution or liquidation of Lessee; (f) a receiver, trustee or <br /> liquidator is appointed with respect to Lessee's assets; (v) any lien is created with respect to the <br /> Equipment (other than a lien created by Lessor); or (vi) the occurrence of any sale, transfer, <br /> conveyance or other disposition of all or any part of the Equipment or any attempt to sell, transfer, <br /> convey or otherwise dispose of all or any part of the Equipment. <br /> 16. Remedies. Upon the occurrence of an Event of Default by Lessee under this Lease, <br /> Lessor may, at its option, take any one or more of the following courses of action: <br /> (i) terminate this Lease; <br /> (ii) proceed by appropriate judicial action to enforce this Lease and recover damages caused by <br /> the breach, including, without limitation, attorneys' fees, court costs and other collection costs; <br /> (iii) demand that Lessee return the Equipment to Lessor in Returnable Condition within thirty <br /> (30) days; <br /> (iv) require Lessee to purchase the Equipment pursuant to Section 10 hereof; and/or <br /> (v) accelerate all sums due under this Lease plus interest at the Default Rate. In addition, <br /> Lessee shall be liable for all reasonable attorneys' fees and other costs and expenses resulting from <br /> the occurrence of any Event of Default or the exercise by Lessor of any of the remedies available to <br /> it. <br /> 17. Representations of Lessee. Lessee represents and warrants to Lessor that <br /> (a) The execution, delivery and performance of this Lease have all been duly authorized by all <br /> necessary action on the part of Lessee; and <br /> (b) This Lease constitutes a legal, valid and binding agreement of Lessee and is enforceable in <br /> accordance with its terms. <br /> 18. Representations of Lessor. Lessor represents and warrants to Lessee that <br /> (a) The execution, delivery and performance of this Lease have all been duly authorized by all <br /> necessary action on the part of Lessor; and <br /> (b) This Lease constitutes a legal, valid and binding agreement of Lessor and is enforceable in <br /> accordance with its terms. <br /> 7 <br />
The URL can be used to link to this page
Your browser does not support the video tag.