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DocuSign Envelope ID:CFOA3C46-0329-49E2-B3D4-269BO64BBEC1 <br /> (iv) Any transfer to a Qualified Lessee. <br /> b. "Qualified Lessee" means a person or entity with a net worth equal to or greater than an <br /> amount equal to three hundred percent(300%) of the then-unpaid Rent obligations of the <br /> Lessee hereunder for the remainder of the Term of the Lease and any extensions. <br /> 14.04 Assignment by Lessor. In the event of an assignment by Lessor of all of its interest in the Leased <br /> Premises to a person or entity that assumes all of Lessor's obligations pursuant to this Lease,Lessee <br /> agrees to look solely to such assignee. <br /> ARTICLE 15: EVENTS OF DEFAULT AND REMEDIES• TERMINATION <br /> 15.01 Events of Default. The following events shall constitute "events of default" by Lessee under this <br /> Lease: <br /> a. Rent. Lessee fails to pay when due any rental or any other sums or charges due under this <br /> Lease, and such failure continues for seven (7) days following written notice thereof <br /> (provided, however, that Lessor shall be obligated to give only two such notices in any <br /> calendar year, and after such two notices, Lessor will no longer be obligated to give any <br /> other notice under this section within such calendar year). <br /> b. Other Breaches. Failure by Lessee to observe or perform any of the covenants, conditions <br /> or provisions of this Lease to be observed or performed by Lessee,other than as described <br /> in subsection a above, where such failure continues for a period of thirty (30) days after <br /> written notice by Lessor to Lessee; provided, if the nature of Lessee's obligation which it <br /> has failed to perform is such that more than thirty(30)days are reasonably required for its <br /> cure,then it shall not be deemed an event of default if Lessee commences such cure within <br /> the thirty(30) day period and, having so commenced,thereafter prosecutes with diligence <br /> and completes the curing of such failure or breach within a reasonable time; or <br /> C. Certain Voluntary Acts. Lessee (i) files, or consents by answer or otherwise to the filing <br /> against it if, a petition for relief or reorganization or arrangement or any other petition in <br /> bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other <br /> debtors' relief law of any jurisdiction, (ii) makes an assignment for the benefit of its <br /> creditors, or (iii) consents to the appointment of a custodian, receiver, trustee or other <br /> officer with similar powers of Lessee or of any substantial part of Lessee's property; or <br /> d. Receivership; Bankruptcy. Without consent by Lessee, a court or government authority <br /> enters an order, and such order is not vacated within thirty (30) days, (i) appointing a <br /> custodian, receiver, trustee or other officer with similar powers with respect to Lessee or <br /> with respect to any substantial part of Lessee's property, or (ii) constituting an order for <br /> relief or approving 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,insolvency <br /> or other debtors' relief law of any jurisdiction,or(iii)ordering the dissolution,winding up <br /> or liquidation of Lessee; or <br /> e. 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 of Texas <br /> which precludes occupation and use of the Leased Premises or Force Majeure, Lessee <br /> vacates or fails to use all or any substantial portion of the Leased Premises for one hundred <br /> (120)consecutive days;or <br /> -15- <br />