11/20/2018_SpecialCall - Laserfiche WebLink

Home Browse Search

(a) DEFAULT. The following will be events of default by Lessee under this Lease: (1) Failure to pay when due any installment of Rent or any other payment required pursuant to this Lease; (2) Failure to deliver, maintain and/or timely restore the Security Deposit required under this Lease; (3) Failure to obtain and maintain the insurance required under this Lease; (4) The filing of a petition for bankruptcy or insolvency under any applicable federal or state bankruptcy or insolvency law; an adjudication of bankruptcy or insolvency or an admission by Lessee that it cannot meet its financial obligations as they become due, or the appointment of a receiver or trustee for all or substantially all of the assets of Lessee; the foregoing shall also apply to any guarantor of this Lease (a "Guarantor"), if any; (S) A transfer in fraud of creditors or an assignment for the benefit of creditors, by Lessee or any Guarantor; (6) Any act which results in a lien being filed against all or a portion of the Leased Premises or the ROW; (7) The liquidation, termination or dissolution of Lessee or any Guarantor of this Lease, or, if Lessee or any Guarantor is a natural person, the death of Lessee or such Guarantor; and (8) Failure to cure any breach or default of any provision of this Lease (excluding any provision dealing with payment of Rents or any other payments hereunder and/or any other provisions dealing with the matters contemplated by subsections (1)-(7) above) within 20 days after written notice thereof to Lessee. (b) REMEDIES. In the event of any default hereunder by Lessee, then without prejudice to any other rights which it has pursuant to this Lease or at law or in equity, Lessor shall have the following rights and remedies, which are cumulative and not alternative: (1) Lessor may terminate this Lease by notice to Lessee and retake possession of the Leased Premises for Lessor's account. Lessee shall then quit and surrender the Leased Premises to Lessor in accordance with the requirements of this Lease. Lessee's liability under all of the provisions of this Lease shall continue notwithstanding any expiration and surrender, or any re-entry, repossession, or disposition hereunder, including to the extent legally permissible, payment of all Rent and other charges until the date this Lease would have expired had such termination not occurred and the surrender of the Leased Premises in accordance with the requirements of this Lease. If Lessor so elects, Rent may be accelerated and Lessee shall pay Lessor damages in the amount of any and all sums that would have been due for the remainder of the Initial Term and/or any Renewal Term. 13