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Agmt10 Chemical Way Properties
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Agmt10 Chemical Way Properties
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Last modified
10/13/2010 3:42:55 PM
Creation date
10/13/2010 3:41:34 PM
Metadata
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Template:
Agreement
Contractor Name
Chemical Way Properties
PROJECT NAME
Real Estate Option Agreement 20 Chemical Way APN 052-392-240
RMP File Number
304
Date
10/1/2010
MO Ref
10-194
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(d) Tenant's breach of Section 15 of this Lease; <br /> (e) Tenant's assignment of its assets for the benefit of its creditors; <br /> (f) The sequestration of, attachment of, or execution on, any substantial <br /> part of the property of Tenant or on any property essential to the conduct of Tenant's business on <br /> the Premises, and Tenant shall have failed to obtain a return or release on such property within <br /> sixty (60) days thereafter, or prior to sale pursuant to such sequestration, attachment or execution, <br /> whichever is earlier; <br /> (g) An entry of any of the following orders by a court having jurisdiction, <br /> and such order shall have continued for a period of sixty (60) days: (1) an order for relief in any <br /> proceeding under Title 11 of the United States Code, or an order adjudicating Tenant to be <br /> bankrupt or insolvent; (2) an order appointing a receiver, trustee or assignee of Tenant's property <br /> in bankruptcy or any other proceeding; or (3) an order directing the winding up or liquidation of <br /> Tenant; or <br /> (h) The filing of a petition to commence against Tenant an involuntary <br /> proceeding under Title 11 of the United States Code, and Tenant shall fail to cause such petition <br /> to be dismissed within sixty (60) days thereafter. <br /> 16.2 Remedies. Upon any Event of Default, Landlord shall have the <br /> following remedies, in addition to all other rights and remedies provided by law or equity: <br /> (a) To the extent permitted by Applicable Law, Landlord shall be entitled <br /> to keep this Lease in full force and effect for so long as Landlord does not terminate Tenant's <br /> right to possession (whether or not Tenant shall have abandoned the Premises), and Landlord <br /> may enforce all of its rights and remedies under this Lease, including the right to recover rent and <br /> other sums as they become due under this Lease, plus interest at the lower of five percent (5 %) <br /> per annum plus the discount rate of the Federal Reserve Bank of San Francisco, or the highest <br /> rate then allowed by law, from the due date of each installment of rent or other sum until paid; or <br /> (b) Landlord may terminate the Tenant's right to possession by giving <br /> Tenant written notice of termination. On the giving of the notice, this Lease and all of Tenant's <br /> rights in the Premises shall terminate. Any termination under this paragraph shall not release <br /> Tenant from the payment of any sum then due Landlord or from any claim for damages or rent <br /> previously accrued or then accruing against Tenant. <br /> In the event this Lease is terminated pursuant to this Section 16.2(b), <br /> Landlord may recover from Tenant: <br /> (1) the worth at the time of award of the unpaid rent which had been <br /> earned at the time of termination; plus <br /> Redwood City Lease 10.07. 2010 v.4 (20 Chemical) 16 <br />
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