SanDisk 2004 Annual Report Download - page 109

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Article 26. Termination
1. If any of the following events occurs, Lessor may make Lessee’s obligations under this Agreement or any or all Individual
Transaction immediately due and payable by only providing written notice without making any prior announcement. Lessor may
also terminate this Agreement or any or all Individual Transaction. However, it shall be done pursuant to applicable provisions in
the event the following recovery periods have been stipulated.
(1) If Lessee fails to pay the Lease Fee under the Relating Agreements or any monetary obligations, and the applicable
payments are not made within 2 banking days after receiving notification in writing from the Lessors to that effect.
(2) If Lessee fails to obtain and maintain insurance as required in this Agreement;
(3) If Lessee fails to release Encumbrances pursuant to this Agreement;
(4) If Lessee breaches any provision of the Relating Agreements other than as described in the above paragraphs, and fails to
cure such breach within five (5) Bank Business Days from receipt of the written notice from Lessor.
(5) If a petition for compulsory provisional disposition or public sale is filed, or any procedure to collect tax delinquency is
taken, or any petition for bankruptcy, civil rehabilitation, company arrangement or corporate reorganization, or other similar
proceedings is filed with respect to Lessee or Guarantors (including any similar petition or procedure under the laws of any
foreign country) unless such petition or procedure is cancelled or ceases to exist within 30 days.
(6) If Lessee or Guarantors begin a private disposition and discontinue the whole or material part of their business, or adopts
resolution of dissolution (except for any restructuring of the organization of the Lessee or the Guarantors without following
any procedures under Sub−paragraph (5) above that is approved by the Lessor, the Borrower and the Lender), or receives
from any competent governmental authority any order to suspend the whole or material part of their business or to prohibit
continuation of such business. (If there is no prospect that Lessee or Guarantors recommence operation of the Property, and
their business is suspended for two months or more, the event of this paragraph (6) shall be deemed to have occurred.)
(7) If Lessee or Guarantors assign the whole or material part of their business, except for any restructuring of the organization of
the Lessee or the Guarantor without following any procedures under of Sub−paragraph (5) above that is approved by the
Lessors, the Borrower and the Lender.
(8) If Lessee or Guarantors suspend payment, or any clearinghouse disposition by suspension of business is received.
(9) If there is a change in the interest ratio in the Lessee directly or indirectly invested by each of the Guarantors. (However.
instances in which the Lessors, the Lender, and Borrower have reached an agreement thereto are excluded.
(10) When the Flash Partners Master Agreement concluded on September 10, 2004, between Toshiba Corporation, SanDisk
Corporation, and SanDisk International Limited is cancelled or terminated.
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