Common use of By Operator Clause in Contracts

By Operator. The Operator, at its option, may declare this Lease Agreement terminated in its entirety, with no penalty to or further liability of Operator, upon the happening of any one or more of the following events: 24.1.2.1 A court of competent jurisdiction issues an injunction or restraining order against the Port preventing or retraining, in its entirety or substantial entirety, the use of the Airport for airport purposes. 24.1.2.2 The Port abandons the Airport for a period of at least thirty (30) consecutive days and fails to operate and maintain the Airport in such manner as to permit landings and takeoffs of airplanes by scheduled air carriers. 24.1.2.3 The Airport or a material portion of the Airport or Airport facilities is destroyed, resulting in material interference with Company's normal business operations or substantial diminution of Operator's Gross Revenues at the Airport for a period in excess of sixty (60) consecutive days. 24.1.2.4 An agency or instrumentality of the United States government or any state or local government occupies the Airport or a substantial part thereof for any reason, resulting in material interference with Operator's normal business operations or substantial diminution of Operator's Gross Revenues at the Airport for a period in excess of sixty (60) consecutive days. 24.1.2.5 The Operator submits, in consideration of Operator’s then- existing financial circumstances, a good faith bid for a Concession Agreement to operate a Rental Car Concession at the Airport for the initial and each subsequent Concession Term but any such bid is not accepted by the Port and the Operator is not granted or loses its right to operate a Rental Car Concession at the Airport.