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Lease Agreement - Catalyst Two LLC - IT Lease at Innovation Park
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Lease Agreement - Catalyst Two LLC - IT Lease at Innovation Park
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4/2/2025 8:52:38 AM
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12/21/2018 10:55:09 AM
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Board of Public Works
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Contracts
Document Date
12/20/2018
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DocuSign Envelope ID: 3FB83184-B2B8-4211-B06A-AD20CB7020F8 <br />(e) All or substantially all of Tenant's assets in the Leased Premises or Tenant's interest <br />in this Lease are attached or levied under execution (and Tenant does not discharge the same within <br />sixty (60) days thereafter); a petition in bankruptcy, insolvency or for reorganization or <br />arrangement is filed by or against Tenant (and Tenant fails to secure a stay or discharge thereof <br />within sixty (60) days thereafter); Tenant is insolvent and unable to pay its debts as they become <br />due; Tenant makes a general assignment for the benefit of creditors; Tenant takes the benefit of <br />any insolvency action or law; the appointment of a receiver or trustee in bankruptcy for Tenant or <br />its assets if such receivership has not been vacated or set aside within thirty (30) days thereafter; <br />or, dissolution or other termination of Tenant's corporate charter if Tenant is a corporation. <br />Section 13.2 Remedies, Upon the occurrence of any Default, Landlord shall have the <br />following rights and remedies, in addition to those allowed by law or in equity, any one or more <br />of which may be exercised without further notice to Tenant: <br />(a) Terminate this Lease by giving Tenant notice of termination, in which event this <br />Lease shall expire and terminate on the date specified in such notice of termination and all rights <br />of Tenant under this Lease and in and to the Leased Premises shall terminate. Tenant shall remain <br />liable for all obligations under this Lease arising up to the date of such termination, and Tenant <br />shall surrender the Leased Premises to Landlord on the date specified in such notice. Furthermore, <br />Tenant shall be liable to Landlord for the unamortized balance of any Tenant improvement <br />allowance and brokerage fees paid in connection with this Lease. <br />(b) Without terminating this Lease, and with or without notice to Tenant, re-enter the <br />Leased Premises and cure any default of Tenant, and Tenant shall reimburse Landlord as additional <br />rent for any costs and expenses which Landlord thereby incurs; and Landlord shall not be liable to <br />Tenant for any loss or damage which Tenant may sustain by reason of Landlord's action. <br />(c) Terminate this Lease as provided in subparagraph (a) above and recover from <br />Tenant all damages Landlord may incur by reason of Tenant's default, including, without <br />limitation, an amount which, at the date of such termination is equal to the sum of the following: <br />(i) the value of the excess, if any, discounted at the Prime Rate, of (A) the Base Rent, additional <br />rent and all other sums that would have been payable hereunder by Tenant for the period for the <br />remainder of the Lease Term had this Lease not been terminated (said period being referred to <br />herein as the "Remaining Term"), less (B) the aggregate reasonable rental value of the Leased <br />Premises for the Remaining Term, as determined by a real estate broker licensed in the State of <br />Indiana who has at least ten (10) years of experience; (ii) the costs of recovering possession of the <br />Leased Premises and all other expenses incurred by Landlord due to Tenant's Default, including, <br />without limitation, reasonable attorney's fees actually incurred, without regard to statutory <br />interpretation, and the cost necessary to prepare the Leased Premises for re -letting (all costs and <br />expenses set forth in this clause (ii) being referred to herein, collectively, as the "Default <br />Damages"); and (iii) the unpaid Base Rent and any additional rent that accrued prior to the date of <br />termination, plus any interest and late fees due hereunder and any other sums of money and <br />damages owing on the date of termination by Tenant to Landlord under this Lease or in connection <br />with the Leased Premises (all amounts set forth in this clause (iii) being referred to herein, <br />collectively, as the "Prior Obligations"). The amount as calculated above shall be deemed <br />immediately due and payable. Landlord and Tenant acknowledge and agree that the payment of <br />LEASE AGREEMENT — CITY OF SOUTH BEND AT IGNITION PARK PAGE 13 <br />
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