My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
6A (1)
sbend
>
Public
>
Redevelopment Commission
>
Agendas & Packets
>
2012
>
01-03-12 Packet
>
Special Meeting
>
6A (1)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/1/2012 11:50:49 AM
Creation date
12/30/2011 11:59:49 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
29
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
Premises and may have, hold and enjoy the Premises and the right to receive all rental and other income of and from <br />the same. <br />11.4. Reimbursement of Landlord's Costs in Exercising Remedies. Landlord may recover from Tenant, <br />and Tenant shall pay to Landlord upon demand, such reasonable and actual costs and expenses as Landlord may <br />incur in recovering possession of the Premises, placing the same in good order and condition and repairing and <br />altering the same for reletting, and all other reasonable and actual costs and expenses, commissions and charges <br />incurred by Landlord in reletting and otherwise exercising any remedy provided herein or as a result of any Event of <br />Default by Tenant hereunder (including, without limitation, reasonable attorneys' fees). <br />11.5. Remedies Are Cumulative. No right or remedy herein conferred upon or reserved to Landlord is <br />intended to be exclusive of any other right or remedy herein or by law provided, but each shall be cumulative and in <br />addition to every other right or remedy given herein or now or hereafter existing at law or in equity or by statute. <br />11.6. Bankruptcy. <br />(a) Assumption of Lease. In the event that Tenant shall become a Debtor under Chapter 7 of the <br />United States Bankruptcy Code (the "Code ") or a petition for reorganization or adjustment of debts is filed <br />concerning Tenant under Chapters 11 or 13 of the Code, or a proceeding is filed under Chapter 7 and is transferred <br />to Chapters 11 or 13, the Trustee or Tenant, as Debtor and as Debtor In- Possession, may not elect to assume this <br />Lease unless, at the time of such assumption, the Trustee or Tenant has: <br />Cured or provided Landlord "Adequate Assurance," as defined below, that: <br />A. Within ten (10) days from the date of such assumption the Trustee or Tenant will cure all <br />monetary defaults under this Lease and compensate Landlord for any actual pecuniary loss <br />resulting from any existing default including, without limitation, Landlord's reasonable costs, <br />expenses, accrued interest as set forth in Section 11.2 of the Lease, and attorneys' fees incurred as <br />a result of the default and/or to enforce the terms hereof, <br />B. Within thirty (30) days from the date of such assumption the Trustee or Tenant will cure <br />all non - monetary defaults under this Lease; and <br />C. The assumption will be subject in all respects to all of the provisions of this Lease <br />ii. For purposes of this Section 11.7, Landlord and Tenant hereby acknowledge that, in the context of <br />a bankruptcy proceeding of Tenant that this Lease is a lease of real property within a Building and, at a minimum <br />"Adequate Assurance" shall mean: <br />A. The Trustee or Tenant has and will continue to have sufficient unencumbered assets after <br />the payment of all secured and priority obligations and administrative expenses to assure Landlord <br />that the Trustee or Tenant will have sufficient funds to fulfill the obligations of Tenant under this <br />Lease, and to keep the Leased Premises stocked with merchandise and properly staffed with <br />sufficient employees to conduct a fully Operational, actively promoted business in the Leased <br />Premises; <br />B. The bankruptcy court shall have entered an order segregating sufficient cash payable to <br />Landlord, and/or the Trustee or Tenant shall have granted a valid and perfected first lien and <br />security interest and/or mortgage in property of Trustee or Tenant acceptable as to value and kind <br />to Landlord, to secure to Landlord the obligation of the Trustee or Tenant to cure the monetary <br />and/or non - monetary defaults under this Lease within the time periods set forth above; and <br />C. The Trustee or Tenant at the very least shall deposit a sum equal to one (1) month's Rent <br />to be held by Landlord (without any allowance for interest thereon) to secure Tenant's future <br />performance under the Lease. <br />
The URL can be used to link to this page
Your browser does not support the video tag.