Res 1995-068 - Laserfiche WebLink

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t7l creditors. (4) Commencement by or against Lessee of proceedings in bankruptcy, or for reorganization of Lessee, or for the readjustment or arrangement of Lessee's debts, whether under the Bankruptcy Act of the United States of America or under any other law, whether state or federal, for the relief of debtors, or commencement of any analogous statutory or nonstatutory proceeding involving Lessee. The acceptance by Lessor of Lessee's monthly rental subsequent to the occurrence of this event of default, or that set forth in paragraph (5) below, shall be as compensation for use and occupancy of the Leased Premises, and shall in no way constitute a waiver by Lessor of its right to exercise any of the remedies provided in Section 11.2 uppn the occurrence of any event of default. (5) A receiver or trustee is appointed for all or substantially all of the assets of Lessee. (6) Lessee deserts or vacates the Leased Premises. 12.02 If Lessee's rent is increased in accordance with Section 2.01 and Lessee refuses to pay the increased rent, this Lease will terminate thirty (30) days after the expiration of the then current five-year lease period. 12.03 If Lessee breaches any of the nondiscrimination covenants in Article 14.03 of this Lease, Lessor shall have the right to terminate the Lease and to reenter and repossess the land and the facilities, and hold the same as if the Lease had never been made or issued. 12.04 If Lessee defaults as defined in this Lease, after 30 days written notice to Lessee with an opportunity to cure within the 30 days, Lessor shall have the option to pursue anyone or more of the following remedies without any notice to Lessee: ( 1) Terminate this Lease, in which event Lessee must immediately '--- surrender the Leased Premises to Lessor, and if Lessee fails to do so, Lessor may, without prejudice to any other remedy which it may have for possession or arrearages in rent, -13-