DAYS AFTER THERE HAS BEEN AN ORDER FOR RELIEF UNDER
THE UNITED STATES BANKRUPTCY CODE, THEN THIS LEASE SHALL BE DEEMED REJECTED,
TENANT OR ANY OTHER PERSON IN POSSESSION SHALL VACATE THE PREMISES, AND LANDLORD
SHALL BE ENTITLED TO RETAIN ANY RENT OR SECURITY DEPOSIT PREVIOUSLY RECEIVED
FROM TENANT AND SHALL HAVE NO FURTHER LIABILITY TO TENANT OR ANY PERSON CLAIMING
THROUGH TENANT OR ANY TRUSTEE.
IF TENANT RECEIVES OR IS TO RECEIVE ANY VALUABLE
CONSIDERATION FOR SUCH AN ASSIGNMENT OF THIS LEASE, SUCH CONSIDERATION, AFTER
DEDUCTING THEREFROM (A) THE BROKERAGE COMMISSIONS, IF ANY, AND OTHER EXPENSES
REASONABLY INCURRED BY TENANT FOR SUCH ASSIGNMENT AND (B) ANY PORTION OF SUCH
CONSIDERATION REASONABLY DESIGNED BY THE ASSIGNEE AS PAID FOR THE PURCHASE OF
TENANT'S PROPERTY IN THE PREMISES, SHALL BE AND BECOME THE SOLE EXCLUSIVE
PROPERTY OF LANDLORD AND SHALL BE PAID OVER TO LANDLORD DIRECTLY BY SUCH
ASSIGNEE.
IF TENANT'S TRUSTEE, TENANT OR TENANT AS DEBTOR-IN-POSSESSION ASSUMES
THIS LEASE AND PROPOSES TO ASSIGN THE SAME (PURSUANT TO TITLE 11 U.S.C.
SECTION 365, AS THE SAME MAY BE AMENDED) TO ANY PERSON, INCLUDING, WITHOUT
LIMITATION, ANY INDIVIDUAL, PARTNERSHIP OR CORPORATE ENTITY, WHO SHALL HAVE MADE
A BONA FIDE OFFER TO ACCEPT AN ASSIGNMENT OF THIS LEASE ON TERMS ACCEPTABLE TO
THE TRUSTEE, TENANT OR TENANT AS DEBTOR-IN-POSSESSION, THEN NOTICE OF SUCH
PROPOSED ASSIGNMENT, SETTING FORTH (X) THE NAME AND ADDRESS OF SUCH PERSON,
(Y) ALL OF THE TERMS AND CONDITIONS OF SUCH OFFER, AND (Z) THE ADEQUATE
ASSURANCE TO BE PROVIDED LANDLORD TO ASSURE SUCH PERSON'S FUTURE PERFORMANCE
UNDER THIS LEASE, INCLUDING, WITHOUT LIMITATION, THE ASSURANCES REFERRED TO IN
TITLE 11
63
U.S.C. SECTION 365(B)(3) (AS THE SAME MAY BE AMENDED), SHALL BE GIVEN TO
LANDLORD BY THE TRUSTEE, TENANT OR TENANT AS DEBTOR-IN-POSSESSION NO LATER THAN
TWENTY (20) DAYS AFTER RECEIPT BY THE TRUSTEE, TENANT OR TENANT AS
DEBTOR-IN-POSSESSION OF SUCH OFFER, BUT IN ANY EVENT NO LATER THAN TEN (10) DAYS
PRIOR TO THE DATE THAT THE TRUSTEE, TENANT OR TENANT AS DEBTOR-IN-POSSESSION
SHALL MAKE APPLICATION TO A COURT OF COMPETENT JURISDICTION FOR AUTHORITY AND
APPROVAL TO ENTER INTO SUCH ASSIGNMENT AND ASSUMPTION, AND LANDLORD SHALL
THEREUPON HAVE THE PRIOR RIGHT AND OPTION, TO BE EXERCISED BY NOTICE TO THE
TRUSTEE, TENANT OR TENANT AS DEBTOR-IN- POSSESSION, GIVEN AT ANY TIME PRIOR TO
THE EFFECTIVE DATE OF SUCH PROPOSED ASSIGNMENT, TO ACCEPT AN ASSIGNMENT OF THIS
LEASE UPON THE SAME TERMS AND CONDITIONS AND FOR THE SAME CONSIDERATION, IF ANY,
AS THE BONA FIDE OFFER MADE BY SUCH PERSON, LESS ANY BROKERAGE COMMISSIONS WHICH
MAY BE PAYABLE OUT OF THE CONSIDERATION TO BE PAID BY SUCH PERSON FOR THE
ASSIGNMENT OF THIS LEASE.
ARTICLE 23
REENTRY BY LANDLORD
23.01
IF TENANT SHALL DEFAULT IN THE PAYMENT OF ANY FIXED
RENT OR ADDITIONAL CHARGES, AND SUCH DEFAULT SHALL CONTINUE FOR TEN (10) DAYS
AFTER WRITTEN NOTICE THEREOF HAS BEEN GIVEN TO TENANT, OR IF THIS LEASE SHALL
TERMINATE AS PROVIDED IN ARTICLE 22 HEREOF, LANDLORD OR LANDLORD'S AGENTS AND