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RES 2024040
City of Pleasanton
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RES 2024040
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6/18/2024 4:24:22 PM
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6/18/2024 4:22:47 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/4/2024
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31 <br />4859-3312-3005v3 <br />(c) Lessee’s failure to maintain insurance on the Leased Premises and the <br />Improvements as required hereunder, and the failure of Lessee to cure such default within five <br />(5) days; <br />(d) Subject to Lessee’s right to contest the following charges, Lessee’s failure to pay <br />taxes or assessments due on the Leased Premises or the Improvements or failure to pay any other <br />charge that may result in a lien on the Leased Premises or the Improvements, and Lessee’s <br />failure to cure such default within twenty (20) days of delinquency, but in all events prior to the <br />date upon which the holder of any such lien has the right to foreclose thereon; <br />(e) A Transfer occurs, either voluntarily or involuntarily, in violation of this Lease <br />and the Regulatory Agreement; <br />(f) the subjection of any right or interest of Lessee in this Lease to attachment, <br />execution, or other levy, or to seizure under legal process, if not released within ninety (90) days; <br />(g) Lessee shall have voluntarily suspended its business for a period in excess of <br />thirty (30) days for reasons other than Force Majeure, or Lessee shall have been dissolved or <br />terminated; <br />(h) pursuant to or within the meaning of the United States Bankruptcy Code or any <br />other federal or state law relating to insolvency or relief of debtors (“Bankruptcy Law”), Lessee <br />or any general partner thereof: (i) commences a voluntary case or proceeding; (ii) consents to <br />the entry of an order for relief against Lessee or any general partner thereof in an involuntary <br />case; (iii) consents to the appointment of a trustee, receiver, assignee, liquidator or similar <br />official for Lessee or any general partner thereof or for the Leased Premises; (iv) makes an <br />assignment for the benefit of its creditors; or (v) admits in writing its inability to pay its debts as <br />they become due; provided however, with respect to Lessee’s general partner, the foregoing <br />actions shall not constitute an Event of Default if the Investor promptly takes action to replace <br />the general partner; <br />(i) the filing against Lessee of any involuntary proceedings under such Bankruptcy <br />Code or similar law, if such proceedings have not been vacated or stayed within ninety (90) days <br />of filing; <br />(j) the appointment of a trustee or receiver for Lessee or for all or the major part of <br />Lessee’s property or the Leased Premises, in any involuntary proceeding, or the taking of <br />jurisdiction by any court over all or the major part of Lessee’s property or the Leased Premises in <br />any involuntary proceeding for the reorganization, dissolution, liquidation or winding up of <br />Lessee, if such trustee or receiver shall not be discharged or such jurisdiction relinquished or <br />vacated or stayed on appeal or otherwise stayed within ninety (90) days; <br />(k) any of Lessee’s representations or warranties contained in this Lease or in any <br />financial statement, certificate or report submitted to Lessor in connection with this Lease proves <br />to have been false or misleading in any adverse respect when made and continues to be adverse <br />to Lessor.
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