TO LANDLORD FREE OF ANY OCCUPANCY
RIGHT UNDER THE CREDIT UNION SUBLEASE AND FREE OF ACTUAL OCCUPANCY BY THE CREDIT
UNION OR ANY PERSON OR ENTITY CLAIMING UNDER OR THROUGH IT.
THE INDEMNIFICATION
OBLIGATIONS OF TENANT SET FORTH IN PARAGRAPH 15.02 SHALL EXTEND TO AND INCLUDE,
WITHOUT LIMITATION, ANY BREACH OR FAILURE OF ANY OF THE REPRESENTATIONS,
WARRANTIES AND COVENANTS OF TENANT SET FORTH IN THIS PARAGRAPH.
ARTICLE XXIV
TENANT'S DEFAULT
The occurrence of any one of the following events shall constitute an event of
default on the part of Tenant ("Default"):
24.01
ABANDONMENT.
THE ABANDONMENT OF THE PREMISES WITHOUT PAYMENT OF
RENT;
24.02
PAYMENT FAILURE.
FAILURE TO PAY ANY INSTALLMENT OF RENT OR OTHER
MONIES DUE HEREUNDER, SAID FAILURE CONTINUING FOR A PERIOD OF FIVE (5) BUSINESS
DAYS AFTER TENANT'S RECEIPT OF WRITTEN NOTICE THAT THE SAME IS DUE;
24.03
ASSIGNMENT TO CREDITORS.
A GENERAL ASSIGNMENT BY TENANT FOR THE
BENEFIT OF CREDITORS;
24.04
BANKRUPTCY.
THE FILING OF A VOLUNTARY PETITION IN BANKRUPTCY BY
TENANT, THE FILING BY TENANT OF A VOLUNTARY PETITION FOR AN ARRANGEMENT, THE
FILING BY OR AGAINST TENANT OF A PETITION, VOLUNTARY OR INVOLUNTARY, FOR
REORGANIZATION, OR THE FILING OF AN INVOLUNTARY PETITION BY THE CREDITORS OF
TENANT, SAID INVOLUNTARY PETITION REMAINING UNDISCHARGED FOR A PERIOD OF
NINETY (90) DAYS;
24.05
RECEIVERSHIP.
RECEIVERSHIP, ATTACHMENT, OR OTHER JUDICIAL SEIZURE
OF SUBSTANTIALLY ALL OF TENANT'S ASSETS ON THE PREMISES, SUCH ATTACHMENT OR
OTHER SEIZURE REMAINING UNDISMISSED OR UNDISCHARGED FOR A PERIOD OF NINETY (90)
DAYS AFTER THE LEVY THEREOF;
24.06
BREACH OF COVENANT.
FAILURE IN THE PERFORMANCE OF ANY OF TENANT'S
COVENANTS, AGREEMENTS OR OBLIGATIONS HEREUNDER (EXCEPT THOSE FAILURES SPECIFIED
AS EVENTS OF DEFAULT IN ANY OTHER SUBPARAGRAPHS OF THIS PARAGRAPH XXIV, WHICH
SHALL BE GOVERNED BY SUCH OTHER PARAGRAPHS) OR ANY BREACH BY TENANT OF ANY
REPRESENTATION OR WARRANTY SET FORTH IN THIS LEASE OR ANY DOCUMENT DELIVERED
PURSUANT HERETO, WHICH FAILURE OR BREACH CONTINUES FOR THIRTY (30) DAYS AFTER
WRITTEN NOTICE THEREOF FROM LANDLORD TO TENANT, PROVIDED THAT, IF TENANT HAS
EXERCISED REASONABLE DILIGENCE TO CURE SUCH FAILURE OR BREACH AND SUCH FAILURE
OR BREACH CANNOT BE CURED WITHIN SUCH THIRTY (30) DAY PERIOD DESPITE REASONABLE
DILIGENCE, TENANT SHALL NOT BE IN DEFAULT UNDER THIS SUBPARAGRAPH SO LONG AS
TENANT THEREAFTER DILIGENTLY AND CONTINUOUSLY PROSECUTES THE CURE TO COMPLETION;
32
24.07
TENANT'S INSURANCE.
ANY FAILURE OF TENANT TO MAINTAIN INSURANCE,
DELIVER EVIDENCE TO LANDLORD THEREOF, IN ANY OTHER RESPECT BREACH TENANT'S
OBLIGATIONS SET FORTH IN THIS LEASE WITH REGARD TO INSURANCE, WHICH FAILURE
CONTINUES FOR TEN (10) DAYS AFTER WRITTEN NOTICE THEREOF FROM LANDLORD TO
TENANT; OR
24.08
FAILURE TO DISCHARGE LIEN.
ANY FAILURE BY TENANT TO DISCHARGE ANY
LIEN OR ENCUMBRANCE PLACED ON THE PROJECT OR ANY PART THEREOF IN VIOLATION OF
THIS LEASE WITHIN TWENTY (20) DAYS AFTER THE DATE TENANT OBTAINS KNOWLEDGE THAT
SUCH LIEN OR ENCUMBRANCE HAS BEEN FILED OR RECORDED AGAINST THE PROJECT OR ANY
PART THEREOF.
ARTICLE XXV
LANDLORD'S REMEDIES
25.01
TERMINATION.
IN THE EVENT OF ANY DEFAULT