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ARTICLE 11: ASSIGNMENT AND SUBLETTING <br /> 11.01. The Lessee shall not assign or sublet all or part of its interest in this Lease without the advance <br /> written consent of the Lessor,which shall not be unreasonable withheld. Consent by the Lessor to <br /> one(1)or more assignments or sublettings shall not operate as a waiver of the Lessor's rights as to <br /> any subsequent assignments or sublettings. Notwithstanding subletting, the Lessee shall remain <br /> fully responsible and liable for the payment of the rent and for compliance with all of its other <br /> obligations under this Lease. <br /> 11.02. In the event of an assignment by the Lessor of all of its interest in this Lease to a person, firm or <br /> corporation that assumes all of the Lessor's obligations, the Lessee agrees to look solely to the <br /> responsibility of the successor-in-interest of the Lessor. Any security given by the Lessee to secure <br /> performance of its obligations may be assigned and transferred by the Lessor to its successor-in- <br /> interest, and the Lessor shall be released of any further obligations under this Lease. <br /> ARTICLE 12: EVENTS OF DEFAULT AND REMEDIES; TERMINATION <br /> 12.01. The following events shall be events of default by the Lessee under this Lease: <br /> a. The Lessee fails to pay when due any rental or any other sums or charges due under this Lease, <br /> and such failure continues for seven (7) days following written notice thereof (provided, <br /> however,that Lessor shall be obligated to give only two such notices in any calendar year,and <br /> after such two notices, Lessor will no longer be obligated to give any other notice under this <br /> Section within such calendar year). <br /> b. The Lessee fails to comply with any other term, provision,or covenant of this Lease,and does <br /> not cure the failure within thirty (30) days after written notice to the Lessee. However, if <br /> Lessee's failure to comply cannot reasonably be cured within thirty(30) days, Lessee shall be <br /> allowed additional time (not to exceed sixty (60) days) as is reasonably necessary to cure the <br /> failure so long as Lessee commences to cure the failure within fifteen (15) days and Lessee <br /> diligently pursues a course of action that will cure the failure. For any subsequent default by <br /> the Lessee for the same or any other reason, the Lessor may terminate the Lease if that <br /> subsequent default continues for more than three(3)days after notice of the subsequent default. <br /> c. The Lessee becomes insolvent, makes a transfer in fraud of creditors, or makes an assignment <br /> for the benefit of creditors. <br /> d. The Lessee commences, or another party commences against the Lessee, proceedings in <br /> bankruptcy, for reorganization, or for the readjustment or arrangement of its debts under the <br /> bankruptcy laws of the United States or under any other law. <br /> e. A receiver or trustee is appointed for all or substantially all of the assets of the Lessee. <br /> Page 11 of 17 <br />