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<br />under any applicable bankruptcy or sirrular code (as now or hereafter in effect). (5) file a petition
<br />seeking to take advantage of any other law relating to bankruptcy. insolvency. reorganization,
<br />winding-up, or composition or adjustment of debts, (6) fail to controvert In a timely and appropriate
<br />manner, or acquiesce in writing to, any petition filed against it in an involuntary case under any
<br />applicable bankruptcy or similar code (as now or hereafter in effect), or (7) take any corporate or
<br />other action for the purpose of effecting any of the foregoing; or (ii) a proceeding shall be
<br />commenced, in any court of competent jurisdiction, seeking in respect of Tenant, the liquidation,
<br />reorganization, dissolution, winding-up, or composition or readjustment of debt, the appointment
<br />of a trustee, receiver, liquidator or the like, for it or for alJ or any substantia) part of its assets, or
<br />other like relief in respect of it under any Jaw relating [0 bankruptcy, insolvency, reorgalJization,
<br />winding-up, or composition or adjustment of debts, unless such proceeding is contested in good faith
<br />by such entity; and, jf the proceeding is being contested in good faith, the same shall continue
<br />undismissed, or unstayed and in effect, for any period of ninety (90) consecutive days, or an order
<br />for relief shall be entered in any involuntary case under any applicable bankruptcy or other similar
<br />code (as now or hereafter in effect); provided, however, that Tenant's merger, consolidation or
<br />assignment of its asSets with or to an entity majority owned and controlled by Tenant or Guarantor,
<br />with or without the assignment of this Lease, shall not be deemed an event of default hereunder,
<br />provided Tenant, Guarantor and such assignee comply with the provisions of Paragraph 8 hereof;
<br />or
<br />
<br />E. Any of Tenant's representations or warranties in this Lease proves to be
<br />untrue when made in any material respect and such adversely affects the Landlord; or
<br />
<br />F. Failure by the Tenant to observe or perform any other term or obligation of
<br />this Lease and continuation of such fajlure for a period of thirty (30) days (or shorter time if required
<br />to proteclthe health, safety or welfare of any guests, invitees or occupants of the Premises) after
<br />receipt by the Tenant of notice from the Landlord thereof, unless such failure cannot be cured within
<br />such period, in which case it will not be an event of default if the Tenant commences appropriate
<br />action to cure such failure within said thirty (30) day period and acts with diligence to complete the
<br />curing thereof within such time 3S is necessary not to exceed ninety (90) days.
<br />
<br />20. Remedies
<br />
<br />A. If an event of default shall have occurred and be continuing, subject to the
<br />rights of Landlord as set forth below, the Landlord, at its option upon no less than fifteen (15) days
<br />prior written notice, may elect to: (i) reenter (as used in the broadest sense and not restricted to its
<br />technical legal meilning) the Premises and remove all persons and property therefrom, either by
<br />summary proceedings or by suitable action or proceeding at law or otherwise provided herein and
<br />may have, hold and enjoy the Premises; and/or (ii) terminate this Lease or terminate Tenant's right
<br />of possession without terminating the Lease and Tenant shall thereupon quit and peacefully surrender
<br />the Premises to Landlord, without any payment therefor by Landlord, and Landlord may reenter the
<br />Premises as provided in subparagraph (i) above. The foregoing notwithstanding, the Landlord may
<br />reenter immediately (as used in the broadest sense and not restricted to its technical legal meaning)
<br />
<br />MLA9510il712~gl
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<br />20
<br />
<br />411
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