Laserfiche WebLink
14.04. Assigmnent by Lessor. In the event of an assignment by Lessor of all of its interest in the <br />Leased Premises to a person or entity that assumes all of Lessor's obligations pursuant to <br />this Lease, Lessee agrees to look solely to such assignee. <br />ARTICLE 15: EVENTS OF DEFAULT AND REMEDIES• TERMINATION <br />15.01. Events of Default by Lessee. The following shall constitute "events of default" by Lessee <br />under this Lease: <br />a. Rent. Failure by Lessee to make any payment of Rent or any other payment <br />required to be made by Lessee under this Lease when due where such <br />failure continues for a period of ten days after written notice by Lessor to <br />Lessee; provided, after the second such failure in a calendar year, only the passage <br />of time, but no further written notice, shall be required to establish an event of <br />default in the same calendar year; or <br />Other Breaches. Failure by Lessee to observe or perform any of the covenants, <br />conditions or provisions of this Lease to be observed or performed by Lessee, other <br />than as described in subsection a. above, where such failure continues for a period <br />of thirty (30) days after written notice by Lessor to Lessee; provided, if the nature <br />of Lessee's obligation which it has failed to perform is such that more than thirty <br />(30) days are reasonably required for its cure, then it shall not be deemed an event <br />of default if Lessee commences such cure within the thirty (30) day period and, <br />having so commenced, thereafter prosecutes with diligence and completes the <br />curing of such failure or breach within a reasonable time; or <br />C. Certain Voluntary. Lessee (i) files, or consents by answer or otherwise to the <br />filing against it if, a petition for relief or reorganization or arrangement or any other <br />petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, <br />insolvency or other debtors' relief law of any jurisdiction, (ii) makes an assigmnent <br />for the benefit of its creditors, or (iii) consents to the appointment of a custodian, <br />receiver, trustee or other officer with similar powers of Lessee or of any substantial <br />part of Lessee's property; or <br />d. Receivership; Bankruptcy. Without consent by Lessee, a court or government <br />authority enters an order, and such order is not vacated within thirty (30) days, (i) <br />appointing a custodian, receiver, trustee or other officer with similar powers with <br />respect to Lessee or with respect to any substantial part of Lessee's property, or <br />(ii) constituting an order for relief or approving a petition for relief or <br />reorganization or arrangement or any other petition in bankruptcy or for liquidation <br />or to take advantage of any bankruptcy, insolvency or other debtors' relief law of <br />any jurisdiction, or (iii) ordering the dissolution, winding up or liquidation of <br />Lessee; or <br />Vacation or Failure to Operate. Except in connection with construction, alteration, <br />casualty, eminent domain, act of Lessor, the United States of America or the State <br />of Texas which precludes occupation and use of the Leased Premises or Force <br />Majeure, Lessee vacates or fails to use all or any substantial portion of the Leased <br />Premises for one hundred (120) consecutive days; or <br />18 <br />