02-10-2003 Council Packet - Laserfiche WebLink

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(a) Event of Default. The occurrence of any one or more of the following events shall constitute an “Event of Default ” under this Lease: Failure to Pay Base Rent. Tenant shall fail to timely pay any amount of Base Rent due hereunder, and such failure shall continue uncured for more than five (5) days after receipt of notice thereof from Landlord; Failure to Perform. Tenant shall fail to perform any other covenant of this Lease and Tenant does not cure or reasonably commence and proceed diligently to cure such failure within twenty (20) days after receipt of notice thereof from Landlord. Bankruptcy. Ifduring the Term: (i) Tenant shall make an assignment for the benefit of creditors; or (ii) Tenant files a voluntary petition under the Bankruptcy Code of the United States or any state statute similar thereto, or Tenant be adjudged insolvent or a bankrupt pursuant to an involuntary petition; (iii) a receiver or trustee is appointed for the property of Tenant by reason of insolvency of Tenant; (iv) any department of the state or federal government, or any officer thereof duly authorized, takes possession of the business or property of Tenant by reason of the insolvency of Tenant; (v) Tenant continues in possession without the appointment of a receiver or trustee under Chapter 11 of the Bankruptcy Code; or (vi) Tenant is the subject of any petition or proceeding related to relief from creditors. (b) Remedies . If an Event of Default occurs. Landlord may at any time thereafter; Terminate this Lease. Terminate this Lease, and upon such termination. Tenant shall quit and surrender the Premises to Landlord, but Tenant shall remain liable as hereinafter provided; Re-Enter the Premises. Landlord or Landlord ’s agents and ser\ ants may immediately or at any time thereafter re-enter the Premises and remove all persons and any or all property therefrom, either by summary dispossession proceedings or by any suitable action or proceedings at law or by force or othenvise and repossess and enjoy said Premises, together with all additions, alterations, and improvements thereto, without such re entry and repossession working forfeiture or waiver of the rents to be paid and the covenants to be performed by Tenant during the Term hereof; and/or Re-Let the Premises. Upon the expiration of the Term by reason of any of the events described in Sections 7(b)(1) or (bX2) herein, or under any provision of law now or hereafter in force by reason of or based upon or arising out of a default under or a breach of this Lease on the part of Tenant (except where such breach or default is determined by a court of I