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any subsequent assignments or sublettings. Notwithstanding subletting, the Lesseeshall 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 Lessorof all of its interest in this Leaseto a person, firm or <br />corporation that assumes all of the Lessor’s obligations, the Lesseeagrees to look solelyto the <br />responsibility of the successor-in-interest of the Lessor. Any security given by the Lesseeto secure <br />performance of its obligations may be assigned and transferred by the Lessorto its successor-in- <br />interest, and the Lessorshall 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 Lesseeunder this Lease: <br />a. <br />The Lesseefails 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 Lessorshall be obligated to give only two such notices in any calendar year, and <br />after such two notices, Lessorwill no longer be obligated to give any other notice under this <br />Section within such calendar year). <br />b. <br />The Lesseefails 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, Lesseeshall be <br />allowed additional time (not to exceed sixty (60) days) as is reasonably necessary to cure the <br />failure so long as Lesseecommences 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 Lesseefor the same or any other reason, the Lessormay terminate the Leaseif that <br />subsequent default continues for more than three(3) days after notice of the subsequent default. <br />c. <br />The Lesseebecomes insolvent, makes a transfer in fraud of creditors, or makes an assignment <br />for the benefit of creditors. <br />d. <br />The Lesseecommences, 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. <br />A receiver or trustee is appointed for all or substantially all of the assets of the Lessee. <br />f. <br />The Lesseeabandons or vacates all or any substantial portion of the LeasedPremisesfor 120 <br />consecutive days. <br />g. <br />Lesseedefaults on any mortgage advanced by a lender to financethe Facilities, improvements, <br />or fixtures for the Leased Premises <br />1117 <br />Page of <br /> <br />