7.3 SR 03-01-2021 - Laserfiche WebLink

Home Browse Search

(b) If default shall be made by Tenant in keeping, observing or performing any of the terms contained in this Lease, other than those specific obligations referred to in any other Subsection of this Article 11, and such default shall continue for a period of thirty (30) days after written notice thereof given by Landlord to Tenant, except in connection with a default which cannot, with due diligence and in good faith, reasonably be cured within said thirty (30) day period, the cure period shall be extended for such time as shall reasonably be required for cure so long as Tenant proceeds with due diligence and in good faith to complete the cure thereof, but in any event said cure period shall not be extended for a period longer than one hundred eighty (180) days from the date of Landlord's notice of default; (c) If (i) Tenant shall make any assignment for the benefit of creditors; (ii) a voluntary petition is filed by Tenant under any law having for its purpose the adjudication of Tenant a debtor or bankrupt or insolvent, or Tenant be the subject of an involuntary petition in bankruptcy (and such involuntary petition is not discharged within sixty (60) days after filing); (iii) a receiver be appointed (and not discharged, within sixty (60) days after such appointment) for substantially all of the property of Tenant at the Premises or otherwise; (iv) any department of the State of Minnesota or the Federal government or court or administrative agency, or any officer thereof duly authorized, shall take possession of substantially all of the business or property of Tenant at the Premises or otherwise (and not relinquish to Tenant said possession within sixty (60) days); or (v) Tenant is, or declares itself to be, unable to pay its debts as they become due; and/or (d) If any material warranty or representation of Tenant made in this Lease and/or any certificate required to be delivered under the Lease shall have been incorrect in a material respect when made and remains material when discovered, and such incorrectness shall continue unremedied for thirty (30) business days after receipt by the Tenant of written notice from the Landlord, which notice describes such incorrectness in reasonable detail, except in the event of any incorrectness which cannot, with due diligence and in good faith, be remedied within said thirty (30) day period, the cure period shall be extended for such time as shall reasonably be required for a cure so long as Tenant proceeds with due diligence and in good faith to complete the cure thereof, but in any event said cure period shall not be extended for a period longer than one hundred eighty (180) days from the date of Landlord's notice of default. 11.2 Remedies. If an Event of Default occurs, Landlord shall have the rights and remedies hereinafter set forth herein, together with all other rights and remedies available at law or in equity, each of which shall be distinct, separate and cumulative, may be exercised in any order, and the exercise (or attempt to exercise one remedy) is not a waiver of any other remedy: (a) Subject to Applicable Laws, Landlord may terminate Tenant's right to possess the Premises without terminating this Lease by giving written notice to Tenant that Tenant's right of possession shall end on the date stated in such notice, whereupon Tenant's right to possess the Premises or any part thereof shall cease on the date stated in such notice. Landlord may, at Landlord's option, enter into the Premises and take and hold possession thereof, without such entry into possession terminating this Lease constituting an acceptance of surrender, or releasing Tenant in whole or in part from Tenant's obligation to pay all amounts hereunder for the full stated Term. Upon such reentry, Landlord may remove all persons and property from the Premises and such property may be removed and stored in the manner required by Applicable 15