SHALL BE COMMENCED SEEKING: (I) TO
HAVE AN ORDER FOR RELIEF ENTERED AGAINST IT AS DEBTOR OR TO ADJUDICATE IT A
BANKRUPT OR INSOLVENT (II) REORGANIZATION, ARRANGEMENT, ADJUSTMENT, LIQUIDATION,
DISSOLUTION OR COMPOSITION OF IT OR ITS DEBTS UNDER ANY LAW RELATING TO
BANKRUPTCY, INSOLVENCY, REORGANIZATION OR RELIEF OF DEBTORS; (III) APPOINTMENT
OF A RECEIVER, TRUSTEE, CUSTODIAN OR OTHER SIMILAR OFFICIAL FOR IT OR FOR ALL OR
ANY SUBSTANTIAL PART OF ITS PROPERTY, AND SUCH CASE, PROCEEDING OR OTHER ACTION
(A) RESULTS IN THE ENTRY OF AN ORDER FOR RELIEF AGAINST IT WHICH IS NOT FULLY
STAYED WITHIN SEVEN (7) BUSINESS DAYS AFTER THE ENTRY THEREOF OR (B) SHALL
REMAIN UNDISMISSED FOR A PERIOD OF FORTY-FIVE (45) DAYS.
D.
TENANT SHALL (I) FAIL TO TAKE POSSESSION OF THE PREMISES WITHIN
THIRTY (30) DAYS OF SUBSTANTIAL COMPLETION OF THE LEASEHOLD IMPROVEMENTS, (II)
VACATE, DESERT, OR ABANDON ALL OR A SUBSTANTIAL PORTION OF THE PREMISES, OR
THREATEN TO DO SO OR (III) FAIL TO CONTINUOUSLY OPERATE ITS BUSINESS AT THE
PREMISES FOR THE PERMITTED USE SET FORTH HEREIN, WHETHER OR NOT TENANT IS IN
DEFAULT IN PAYMENT OF THE RENTAL PAYMENTS DUE UNDER THIS LEASE.
E.
TENANT SHALL FAIL TO PROMPTLY DISCHARGE ANY LIEN PLACED UPON THE
PREMISES IN VIOLATION OF PARAGRAPH 22 HEREOF.
F.
TENANT SHALL FAIL TO COMPLY WITH ANY TERM, PROVISION OR COVENANT
OF THIS LEASE (OTHER THAN THOSE LISTED ABOVE IN THIS PARAGRAPH 19), AND SHALL
NOT CURE SUCH FAILURE WITHIN TWENTY (20) DAYS AFTER WRITTEN NOTICE THEREOF TO
TENANT PROVIDED, HOWEVER, IF SUCH FAILURE CANNOT THROUGH THE EXERCISE OF
REASONABLE DILIGENCE BE CURED WITHIN SUCH TWENTY (20) DAYS, AN EVENT OF DEFAULT
SHALL NOT BE DEEMED TO HAVE OCCURRED UNDER THIS PARAGRAPH 19F SO LONG AS TENANT
COMMENCES IT CURATIVE EFFORTS WITHIN SUCH TWENTY (20)-DAY PERIOD AND DILIGENTLY
PROSECUTES SAME TO COMPLETION.
G.
TENANT, ITS BANKRUPTCY TRUSTEE, OR ANY ENTITY AUTHORIZED BY COURT
ORDER TO ACT ON BEHALF OF TENANT, SHALL REJECT THIS LEASE UNDER 11 U.S.C. SEC.
365(A) OR ANY OTHER PROVISION OF TITLE 11 OF THE UNITED STATES CODE, OR THE
DEEMED REJECTION OF THIS LEASE BY OPERATION OF LAW UNDER 11 U.S.C. SEC.
365(D)(4).
ANY SUCH REJECTION OF THIS LEASE TERMINATES THIS LEASE, WITHOUT
NOTICE OF ANY KIND TO TENANT, EFFECTIVE ON THE LATER OF: (1) THE DATE TENANT
VACATES THE PREMISES FOLLOWING SUCH REJECTION; (2) THE DATE THE BANKRUPTCY COURT
WITH JURISDICTION OVER TENANT'S BANKRUPTCY CASE ENTERS AN ORDER ON ITS DOCKET
AUTHORIZING TENANT TO REJECT THIS LEASE; OR (3) THE DATE THIS LEASE IS DEEMED
REJECTED UNDER 11 U.S.C. SEC. 365(D)(4).
20.
REMEDIES.
A.
UPON EACH OCCURRENCE OF AN EVENT OF DEFAULT, LANDLORD SHALL HAVE
THE OPTION TO PURSUE, WITHOUT ANY NOTICE OR DEMAND, (EXCEPT AS EXPRESSLY
PROVIDED OTHERWISE HEREIN) ANY ONE OR MORE OF THE FOLLOWING REMEDIES AND/OR ANY
OTHER REMEDIES TO WHICH LANDLORD IS ENTITLED AT LAW OR IN EQUITY:
14
I.
TERMINATE THIS LEASE, IN WHICH EVENT TENANT SHALL IMMEDIATELY
SURRENDER THE PREMISES TO LANDLORD.
IF TENANT FAILS TO