|
15.1 J Any failure by Tenant to pay any Rent or any other charge required to be paid under this Lease, or any part thereof (or
<br />to perform any of Its obligations under Article 6 above), If such failure continues for three (3) days following Landlord's delivery of written notice
<br />thereof.
<br />15,1.2 The abandonment of the Premises by Tenant, or the vacation of the Premises by Tenant for a period of ten (10)
<br />consecutive days (with or without the payment of Rent), or the failure of Tenant to take occupancy of the premises within thirty (30) days of the
<br />Commencement Date (It being agreed that the fact that any of Tenants Property remains in the Premises shall not be evidence that Tenant lies not
<br />vacated or abandoned the Premises),
<br />15.1.3 Any failure by Tenant to execute and deliver any statement or document described in Article 12 requested by Landlord
<br />within the time periods specified therein, if such failure continues for three (3) days after Landlord's delivery of written notice thereof,
<br />MIA The failure by Tenant to observe or perform any other provision of this Lease to be observed or perfomhed by Tenant,
<br />other [halt those described In Sections 15.1.1. 15__;_1.2 and 15.1.3 above, if such failure continues for twenty (20) days (except where a different period
<br />of time is specified in this Lease, in which case such different time period shall apply) after Landlord's delivery of written notice thereof; provided,
<br />however, that if the nature of the default is such that it cannot be cured within the twenty (20) day period, no Event of Default shall exist if Tenant
<br />commences the curing of the default within the twenty (20) day period and thereafter diligently prosecutes the same to completion.
<br />15.1.5 The making or furnishing by Tenant of any warranty, representation or statement to Landlord in connection with this
<br />Lease, or any other agreement to. which Tenant and Landlord are parties, which is false or misleading in any material respect Caen made or
<br />furnished.
<br />15.1.6 The assignment, subletting or other Transfer, or any attempted assignment, subletting or other Transfer, of this Lease in
<br />violation of Article M
<br />15.1.7 The filing or execution or occurrence of any one of the following: (a) a petition in bankruptcy or other insolvency
<br />proceeding by or against Tenant or any general partner of Tenant, (b) a petition or answer by Tenant or any general partner of Tenant seeldog relief
<br />under any provision of the Bankruptcy Act, (c) an assignment by Tenant or any general partner of Tenant for the benefit of creditors, (d) a petition or
<br />other proceeding by or against Tenant or any general partner of Tenant for the appointment of a trustee, receiver or liquidator of Tenant or any
<br />general partner of Tenant or any property of Tenmrt or any general partner of Tenant, (e) a proceeding by any governmental authority for die
<br />dissolution or liquidation of Tenant or any general partner of Tenant or any other instance whereby Tenant or any general partner of Tenant shall
<br />cease doing business as a going concern, or (f) an admission by Tenant or any general partner of Tenant of its inability to pay its debts as they
<br />become due.
<br />15A.8 The default by any guarantor of 'tenant's obligations hereunder under any guaranty of this Lease, die attempted
<br />repudiation or revocation orally such guaranty or the participation by any such guarantor in any other event described in this Section 1.5.1 (as if this
<br />Section 15.1.8 referred to such guarantor in place of Tenant).
<br />15.1.9 Any default that continues heyond the applicable notice and cure period by Tenant or any Affiliate of Tenant under any
<br />lease (other than this Lease) between: (a) Landlord or any Affiliate of Landlord and (b) Tenant or sty Affiliate of Tenant.
<br />All of the notices described in this Section 15.1 shall be in lieu of, and not in addition to, any notice required under Section 1161 of the
<br />California Code of Civil Procedure or any other law now or hereafter in effect requiring that notice of default be given prior to the commencement of
<br />an unlawful detainer or other legal proceeding.
<br />15.2 Remedies. Upon the occurrence of any Event of Default by "Tenant, in addition to any other remedies available to Landlord at
<br />law or in equity, without any further notice or demand whatsoever Landlord shall have the option to pursue any one or more of the remedies
<br />described in Section 1 of Exhibit "IT attached hereto, each and all of which shall, subject to applicable low, be cumulntive and nonexclusive (and all
<br />orthe other provisions of section 1 of Exhibit "H" shall apply to an Event of Delault by'renant hereunder).
<br />ARTICLE 16—LANDLORD DEFAULT: LANDLORD'S L1A1311,ITy
<br />16.1 Landlord Defantt. Landlord's failure to perform or observe any of its obligations under this Lease shall constitute a material
<br />default by Landlord uinder this Lease (a "Landlord Default") only if such failure shall continue for a period or thirty (30) days after Landlord (slid
<br />each Notified Party) receives written notice from Tenant specifying (and describing in reasonable detnil) the alleged default (and identifying the
<br />applicable Lease provision(s)); provided, however, that if the nature of the default is such that it cannot be cued within the thirty (30) day period, no
<br />Landlord Default shall exist if Landlord (o• any Notified Party) commences the curing of the applicable default within thirty (30) clays tolluwing its
<br />receipt or Tenant's default notice and thereafter diligently prosecutes the same to completion. Subject to the remaining provisions of this Lease,
<br />following the occurrence orally Landlord Default, Tenant shall have the right to pursue any remedy available under Law for such Landlord Default
<br />by Landlord; provided, however, that in no case shall Tenant have ally right to temninale this Lettsc on account crony such Landlord Default.
<br />16.2 Landlord's Lease Undertakings.. Notwithstanding anything to the contrary contained in this Lease or any other Lease
<br />Documents, it is expressly understood and agreed by and between the parties hereto that:. (a) due recourse of Tenant or its successors o- assigns
<br />against Laudloid (and the liability of Landlord to Tenant,its successors and assigns) with respect to: (I) any actual or alleged breach or breaches by
<br />or on the part of Landlord. of any of Landlord's Lense Undertakings in (ii) any mauler relining to Tenant's use or occupancy. of the Premises shall be
<br />limited to an amount equal to the lesser of. Is) Landlord's equity interest in die Building and (y) the equity interest. Landlord would have in the
<br />Boildina irtie Building. were encumbered by Independent secured financing equal to el.bty, percent (80%) of die value of the Building; (b) Tenant
<br />the extent or Landlords equity interest.in the Buil lipg(to the extent .provided above), all personal liability or personal responsibility crony son with
<br />respect to tiny of Landlord's Lease Uncerinkings or Oily alleged breach thereof is,cissumed by,.ol- shall at any. time he asserted or eulbrceable against.
<br />801 14Ch:ic Cena r Dr—Ciht nfSaahrAnn Lease - I d-
<br />
|