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<br />VGL 2411'Atf634 <br /> <br />10.02. In the event of an assignment by the Lessor of all of its interest in this Lease to a person, <br />firm or corporation that assumes all of the Lessor's obligations, the Lessees agree to look solely <br />to the responsibility of the successor in interest of the Lessor. Any security given by the Lessees <br />to secure performance of its obligations may be assigned and transferred by the Lessor to its <br />successor in interest, and the Lessor shall be released of any further obligations under this Lease. <br /> <br />Article 11. Events of Default and Remedies <br /> <br />11.01. The following events shall be events of default by the Lessees under this Lease: <br /> <br />A. The Lessees fail to pay when due any rental or any other sums or charges due under <br />this Lease. <br /> <br />B. The Lessees fail to comply with any other term, provision, or covenant of this Lease, <br />and does not cure the failure within 30 days after written notice to the Lessees. For any <br />subsequent default by the Lessees for the same or any other reason, the Lessor may terminate <br />the Lease if that subsequent default continues for more than three days after notice of the <br />subsequent default. <br /> <br />C. The Lessees become insolvent, make a transfer in fraud of creditors, or make an <br />assignment for the benefit of creditors <br /> <br />D. The Lessees commence, or another party commences against the Lessees, <br />proceedings in bankruptcy, for reorganization, or for the readjustment or arrangement of its debts <br />under the bankruptcy laws of the United States or under any other law. The acceptance by the <br />Lessor of the Lessees' monthly payments subsequent to the occurrence of this event of default, <br />or that set forth in subparagraph E below, shall be as compensation for use and occupancy of the <br />Leased Premises, and shall in no way constitute a waiver by the Lessor of its right to exercise any <br />remedy provided for any event of default. <br /> <br />E. A receiver or trustee is appointed for aU or substantially all of the assets of the Lessees. <br /> <br />F. The Lessees abandon or vacate all or any substantial portion of the Leased Premises. <br /> <br />11.02. Upon the occurrence of any of the events of default, the Lessor shall have the option to <br />pursue anyone or more of the following remedies without any notice or demand whatsoever. <br /> <br />A. Terminate this Lease. In this event the Lessees shall immediately surrender the <br />Leased Premises to the Lessor, and if the Lessees fail to do so, the Lessor may enter and take <br />possession of the Leased Premises and remove the Lessees and any other person occupying the <br />premises, by force if necessary, without prejudice to any other remedy it may have for possession <br />or arrearages in rent, and without being liable for any resulting damages. The Lessees agree to <br />pay to the Lessor the amount of all resulting costs, losses and damages incurred by the Lessor <br />within 30 days of the Lessor's issuance of a statement to the Lessees. <br /> <br />COSM Form 1/99 <br /> <br />7 <br />