Res 1991-084 - Laserfiche WebLink

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any subsequent default by the Lessee for the same or any other reason, the Lessor may terminate the lease if that subsequent default continues for more than three ( 3) days after notice of the subsequent default. In all cases, the Lessee is responsible for the performance of any sublessee. ( 3) Lessee becomes insolvent, or makes a transfer in fraud of creditors, or makes an assignment for the benefit of creditors. ( 4) Lessee commences proceedings in bankruptcy, or for reorganization, 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, now or hereafter existing for the relief of debtors, or there shall be commenced any analogous statutory or nonstatutory proceeding involving Lessee. The acceptance by Lessor of Lessee's monthly payment as herein provided subsequent to the occurrence of this event of default, or that set forth in subparagraph (5) herein 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 hereinafter provided remedies upon 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 any substantial portion of the Leased Premise. Upon the occurrence of any of the events of default, Lessor shall have the option to pursue any one or more of the following remedies without any notice or demand whatsoever: (a) Terminate this Lease, in which event Lessee shall 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, enter upon and take possession of the Leased Premises and expel or remove Lessee and any other person who may be occupying -14-