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Equipment listed in each Lease, but such option does not permit the assignment of less <br />than all of Lessor's interests in the Equipment listed in a single Lease. <br />(c) If Lessor notifies Lessee of its intent to assign the Lease, Lessee agrees that it <br />shall execute and deliver to Lessor a Notice and Acknowledgement of Assignment <br />substantially in the form of Exhibit G attached to this Lease within five (5) business days <br />after its receipt of such request. <br />Section 11.02. Assignment and Subleasing by lessee. None of Lessee's right, title, <br />and interest in, to and under any Lease or any portion of the Equipment may be assigned <br />or encumbered by Lessee for any reason. <br />ARTICLE XII <br />Section 12.01. Events of Default Defined. Any of the following events shall <br />constitute an "Event of Default" under a Lease: <br />(a) Failure by Lessee to pay any Rental Payment or other payment required to <br />be paid under any Lease at the time specified herein; <br />(b) Failure by Lessee to observe and perform any covenant, condition or <br />agreement on its part to be observed or performed, other than as referred to in <br />subparagraph (a) above, for a period of 30 days after written notice specifying such failure <br />and requesting that it be remedied is given to Lessee by Lessor, unless Lessor shall agree in <br />writing to an extension of such time prior to its expiration; provided that, if the failure <br />stated in the notice cannot be corrected within the applicable period, Lessor will not <br />unreasonably withhold its consent to an extension of such time if corrective action is <br />instituted by Lessee within the applicable period and diligently pursued until the default is <br />corrected; <br />(c) Any statement, representation or warranty made by Lessee in or pursuant to <br />any Lease or its execution, delivery or performance shall prove to have been false, <br />incorrect, misleading, or breached in any material respect on the date when made; <br />(d) Any default occurs under any other agreement for borrowing money or <br />receiving credit under which Lessee may be obligated as borrower, if such default consists <br />of (i) the failure to pay any indebtedness when due or (ii] the failure to perform any other <br />obligation thereunder and gives the holder of the indebtedness the right to accelerate the <br />indebtedness; <br />(e) Lessee shall (i) apply for or consent to the appointment of a receiver, trustee, <br />custodian or liquidator of Lessee, or of all or a substantial part of the assets of Lessee, <br />(ii) be unable, fail or admit in writing its inability generally to pay its debts as they <br />become due, (iii] make a general assignment for the benefit of creditors, (iv) have an order <br />for relief entered against it under applicable federal bankruptcy law, or (v) file a voluntary <br />petition in bankruptcy or a petition or an answer seeking reorganization or an <br />#219845v12A (Gov't Entity Master Lease) 16 <br />