Common use of Company’s Default Clause in Contracts

Company’s Default. A. Each of the following shall be a default of COMPANY: 1. Vacation or abandonment of Leased Property, without written notice to PIMSA. 2. Failure to pay any installment of rent due and payable hereunder upon the date when said payment is due, said failure continuing for a period of ten (10) days. 3. Default in the performance of any of COMPANY's covenants, agreements or obligations hereunder, said default, except default in the payment of any installment of rent, continuing for fifteen (15) days after written notice thereof is delivered from PIMSA to COMPANY; 4. A general assignment by COMPANY for the benefit of creditors; 5. The filing of a voluntary petition in bankruptcy by COMPANY or the filing of an involuntary petition by COMPANY's creditors, said petition remaining undischarged for a period of ninety (90) days; 6. The appointment of a Receiver to take possession of substantially all of COMPANY's assets, said Receivership remaining undischarged for a period of ninety (90) days; 7. Attachment, execution or other judicial seizure of substantially all of COMPANY's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. B. In addition to the above, each of the following shall be considered a default of the COMPANY, if there is in respect to GUARANTOR: 1. A general assignment by GUARANTOR for the benefit of creditors; 2. The filing of a voluntary petition in bankruptcy by GUARANTOR or the filing of an involuntary petition by GUARANTOR's creditors, said petition remaining undischarged for a period of ninety (90) days; 3. The appointment of a Receiver to take possession of substantially all of GUARANTOR's assets or of this leasehold, said Receivership remaining undissolved for a period of ninety (90) days or; 4. Attachment, execution or other judicial seizure of substantially all of GUARANTOR's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. C. Upon occurrence of any one of the foregoing defaults, PIMSA shall have the right, at its option, and in addition to other rights or remedies granted by law, including the right to claim damage, to do either of the following: 1. Immediately rescind this Lease Agreement and eject COMPANY from the Leased Property. 2. Claim Specific Performance. In the case of default as specified above, PIMSA shall, in addition to all other remedies, have the right to declare in the event the "Rent for the Initial Term", or "Rent for the Extended Term", as applicable, is being paid in installments, the entire unpaid balance of the installments on rent to the end of the Five (5) Year Lease Term then in effect, and all other sums due to PIMSA, immediately due and payable, plus interest at the rate of twenty percent (20%) per annum of said sums from the date of such declaration until payment in full, provided that PIMSA shall diligently proceed to lease the Leased Property to another tenant or otherwise make beneficial use thereof in mitigation of damages, rent and all other sums due or payable to PIMSA. In the event the Leased Property is leased to another tenant during the aforesaid Five (5) Year Lease Term or otherwise used in a beneficial manner: a. PIMSA shall promptly refund to COMPANY that portion of rent and interest paid by COMPANY pursuant to this Paragraph 2 which is allocable to the period of the Lease Term during which the Leased Property was leased to another tenant or otherwise used in a beneficial manner as well as any other allocable sums paid by COMPANY to PIMSA, less any loss or damage incurred by PIMSA as a result of COMPANY's default, or; b. If such rent or other sums have not been paid by COMPANY to PIMSA, PIMSA shall credit such amount(s) to COMPANY.

Company’s Default. A. Each of the following shall be a default an “Event of Default” of COMPANY: 1. Vacation 1.- Vacating or abandonment of the Leased Property; IAMSA shall consider the building vacated or abandoned when COMPANY closes its operation, without written terminates all employees and stops making payment of rent for one or more months. Under such circumstances IAMSA may proceed to take over the building after notifying COMPANY under the terms hereunder provided, and no answer is received for a period of fifteen (15) days following such notice. For such purpose, IAMSA is hereby expressly authorized by COMPANY to request the competent Court under a voluntary jurisdiction procedure to be given possession of the building using any legal means provided by law, and expressly waiving COMPANY’s right to be notified due to prior notice of abandonment. This procedure shall be observed independently of any other remedies of IAMSA as provided hereunder. Consequently, COMPANY hereby expressly consents and submits to PIMSAsuch action, waiving expressly and action to file any claim against IAMSA and/or its representatives for any such taking over. 2. 2.- Failure to pay any installment of rent due and payable hereunder upon the date when said payment is due, said failure continuing as provided for a period of ten (10) daysin clause “V”, paragraph “A” hereunder, following fourteen days after COMPANY receives written notice. 3. 3.- Default in the performance of any of COMPANY's covenants, agreements or obligations hereunder, said default, except for default in the payment of any installment of rentrents, continuing for fifteen (15) days after written notice thereof is delivered from PIMSA given by IAMSA to COMPANYCOMPANY (or for any additional reasonable period necessary for COMPANY to cure said default) given by IAMSA; 4. 4.- A general assignment by COMPANY for the benefit of creditors; 5. 5.- The filing of a voluntary petition in bankruptcy by COMPANY or the filing of an involuntary petition by COMPANY's ’s creditors, said petition remaining undischarged for a period of ninety (90) days; 6. 6.- The appointment of a Receiver to take possession of substantially all of COMPANY's assets, said Receivership remaining undischarged for a period of ninety (90) days; 7. Attachment, execution or other judicial seizure of substantially all of COMPANY's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. B. In addition to the above, each of the following shall be considered a default of the COMPANY, if there is in respect to GUARANTOR: 1. A general assignment by GUARANTOR for the benefit of creditors; 2. The filing of a voluntary petition in bankruptcy by GUARANTOR or the filing of an involuntary petition by GUARANTOR's creditors, said petition remaining undischarged for a period of ninety (90) days; 3. The appointment of a Receiver to take possession of substantially all of GUARANTOR's ’s assets or of this leasehold, said Receivership receivership remaining undissolved or unstayed for a period of ninety thirty (90) days or; 4. Attachment, execution or other judicial seizure of substantially all of GUARANTOR's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (9030) days after the levy thereof; or 7.- After receipt of written notice and the expiration of a reasonable period of time to cure (as defined by applicable Government Office), the failure by COMPANY to comply with any and all applicable laws and regulations of any Environmental Agency of the Government of Mexico as determined by the corresponding Environmental Authorities, in connection with the performance of their activities or the use or operation of any equipment by COMPANY that may be considered as contaminating by such Governmental Office, and failure to comply with any and all recommendations consistent with applicable legal requirements so given by said Governmental Office in connection therewith. C. B. Upon the occurrence of any one Event of the foregoing defaultsDefault by COMPANY, PIMSA IAMSA shall have the right, at its option, and in addition to other rights or remedies granted by law, including the right to claim damage, to do either of the following: 1. Immediately immediately rescind this Lease Agreement and eject evict COMPANY from the Leased Property, without affecting the rights of IAMSA under the terms of paragraph A), 1) of this Clause. 2. Claim Specific Performance. In the case of default as specified above, PIMSA shall, in addition to all other remedies, have the right to declare in the event the "Rent for the Initial Term", or "Rent for the Extended Term", as applicable, is being paid in installments, the entire unpaid balance of the installments on rent to the end of the Five (5) Year Lease Term then in effect, and all other sums due to PIMSA, immediately due and payable, plus interest at the rate of twenty percent (20%) per annum of said sums from the date of such declaration until payment in full, provided that PIMSA shall diligently proceed to lease the Leased Property to another tenant or otherwise make beneficial use thereof in mitigation of damages, rent and all other sums due or payable to PIMSA. In the event the Leased Property is leased to another tenant during the aforesaid Five (5) Year Lease Term or otherwise used in a beneficial manner: a. PIMSA shall promptly refund to COMPANY that portion of rent and interest paid by COMPANY pursuant to this Paragraph 2 which is allocable to the period of the Lease Term during which the Leased Property was leased to another tenant or otherwise used in a beneficial manner as well as any other allocable sums paid by COMPANY to PIMSA, less any loss or damage incurred by PIMSA as a result of COMPANY's default, or; b. If such rent or other sums have not been paid by COMPANY to PIMSA, PIMSA shall credit such amount(s) to COMPANY.

Company’s Default. A. Each of the following shall be a default of COMPANY: 1. Vacation Vacating or abandonment of the Leased Property. IAMSA shall consider the building abandoned when COMPANY closes its operation, without written terminates all employees and stops making payment of rent for one or more months. Under such circumstances IAMSA may proceed to take over the building after notifying COMPANY under the terms hereunder provided, and no answer is received for a period of fifteen (15) days following such notice. For such purpose, IAMSA is hereby expressly authorized by COMPANY to request the competent Court under a voluntary jurisdiction procedure to be given possession of the building using any legal means provided by Law, and expressly waiving COMPANY the right to be notified due to prior notice of abandonment. This procedure shall be observed independently of any other remedies of IAMSA as provided hereunder. Consequently COMPANY hereby expressly consents and submits to PIMSAsuch action, waiving expressly any action to file any claim against IAMSA and/or its representatives for any such taking over. 2. Failure to pay any installment of rent due and payable hereunder upon the date when said payment is due, said failure continuing as provided for a period of ten (10) daysin clause “V”, paragraph “A” hereunder, following fourteen days after COMPANY receives written notice. 3. Default in the performance of any of COMPANY's covenantscovenant, agreements agreement or obligations obligation hereunder, said default, except for default in the payment of any installment of rentrents, continuing for fifteen (15) days after written notice thereof is delivered from PIMSA to COMPANY; 4. A general assignment given by COMPANY for the benefit of creditors; 5. The filing of a voluntary petition in bankruptcy by COMPANY or the filing of an involuntary petition by COMPANY's creditors, said petition remaining undischarged for a period of ninety (90) days; 6. The appointment of a Receiver to take possession of substantially all of COMPANY's assets, said Receivership remaining undischarged for a period of ninety (90) days; 7. Attachment, execution or other judicial seizure of substantially all of COMPANY's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. B. In addition to the above, each of the following shall be considered a default of the COMPANY, if there is in respect to GUARANTOR: 1. A general assignment by GUARANTOR for the benefit of creditors; 2. The filing of a voluntary petition in bankruptcy by GUARANTOR or the filing of an involuntary petition by GUARANTOR's creditors, said petition remaining undischarged for a period of ninety (90) days; 3. The appointment of a Receiver to take possession of substantially all of GUARANTOR's assets or of this leasehold, said Receivership remaining undissolved for a period of ninety (90) days or; 4. Attachment, execution or other judicial seizure of substantially all of GUARANTOR's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. C. Upon occurrence of any one of the foregoing defaults, PIMSA shall have the right, at its option, and in addition to other rights or remedies granted by law, including the right to claim damage, to do either of the following: 1. Immediately rescind this Lease Agreement and eject COMPANY from the Leased Property. 2. Claim Specific Performance. In the case of default as specified above, PIMSA shall, in addition to all other remedies, have the right to declare in the event the "Rent for the Initial Term", or "Rent for the Extended Term", as applicable, is being paid in installments, the entire unpaid balance of the installments on rent to the end of the Five (5) Year Lease Term then in effect, and all other sums due to PIMSA, immediately due and payable, plus interest at the rate of twenty percent (20%) per annum of said sums from the date of such declaration until payment in full, provided that PIMSA shall diligently proceed to lease the Leased Property to another tenant or otherwise make beneficial use thereof in mitigation of damages, rent and all other sums due or payable to PIMSA. In the event the Leased Property is leased to another tenant during the aforesaid Five (5) Year Lease Term or otherwise used in a beneficial manner: a. PIMSA shall promptly refund IAMSA to COMPANY that portion of rent and interest paid by COMPANY pursuant to this Paragraph 2 which is allocable to the (or for any reasonable period of the Lease Term during which the Leased Property was leased to another tenant or otherwise used in a beneficial manner as well as any other allocable sums paid by necessary for COMPANY to PIMSA, less any loss or damage incurred cure said default given by PIMSA as a result of COMPANY's default, orIAMSA); b. If such rent or other sums have not been paid by COMPANY to PIMSA, PIMSA shall credit such amount(s) to COMPANY.

Company’s Default. A. Each of the following shall be a default an “Event of Default” of COMPANY: 1. Vacation 1.- Vacating or abandonment of the Leased Property; IAMSA shall consider the building vacated or abandoned when COMPANY closes its operation, without written terminates all employees and stops making payment of rent for one or more months. Under such circumstances IAMSA may proceed to take over the building after notifying COMPANY under the terms hereunder provided, and no answer is received for a period of fifteen (15) days following such notice. For such purpose, IAMSA is hereby expressly authorized by COMPANY to request the competent Court under a voluntary jurisdiction procedure to be given possession of the building using any legal means provided by law, and expressly waiving COMPANY’s right to be notified due to prior notice of abandonment. This procedure shall be observed independently of any other remedies of IAMSA as provided hereunder. Consequently, COMPANY hereby expressly consents and submits to PIMSAsuch action, waiving expressly and action to file any claim against IAMSA and/or its representatives for any such taking over. 2. 2.- Failure to pay any installment of rent due and payable hereunder upon the date when said payment is due, said failure continuing as provided for a period of ten (10) daysin clause “V”, paragraph “A” hereunder, following fourteen days after COMPANY receives written notice. 3. 3.- Default in the performance of any of COMPANY's covenants, agreements or obligations hereunder, said default, except for default in the payment of any installment of rentrents, continuing for fifteen (15) days after written notice thereof is delivered from PIMSA given by IAMSA to COMPANYCOMPANY (or for any additional reasonable period necessary for COMPANY to cure said default) given by IAMSA; 4. 4.- A general assignment by COMPANY for the benefit of creditors; 5. 5.- The filing of a voluntary petition in bankruptcy by COMPANY or the filing of an involuntary petition by COMPANY's ’s creditors, said petition remaining undischarged for a period of ninety (90) days; 6. 6.- The appointment of a Receiver to take possession of substantially all of COMPANY's assets, said Receivership remaining undischarged for a period of ninety (90) days; 7. Attachment, execution or other judicial seizure of substantially all of COMPANY's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. B. In addition to the above, each of the following shall be considered a default of the COMPANY, if there is in respect to GUARANTOR: 1. A general assignment by GUARANTOR for the benefit of creditors; 2. The filing of a voluntary petition in bankruptcy by GUARANTOR or the filing of an involuntary petition by GUARANTOR's creditors, said petition remaining undischarged for a period of ninety (90) days; 3. The appointment of a Receiver to take possession of substantially all of GUARANTOR's ’s assets or of this leasehold, said Receivership receivership remaining undissolved or unstayed for a period of ninety thirty (90) days or; 4. Attachment, execution or other judicial seizure of substantially all of GUARANTOR's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (9030) days after the levy thereof; or 7.- After receipt of written notice and the expiration of a reasonable period of time to cure (as defined by the applicable Government Office), the failure by COMPANY to comply with any and all applicable laws and regulations of any Environmental Agency of the Government of Mexico as determined by the corresponding Environmental Authorities, in connection with the performance of their activities or the use or operation of any equipment by COMPANY that may be considered as contaminating by such Governmental Office, and failure to comply with any and all recommendations consistent with applicable legal requirements so given by said Governmental Office in connection therewith. C. 8.- Upon the occurrence of any one Event of the foregoing defaultsDefault by COMPANY, PIMSA IAMSA shall have the right, at its option, and in addition to other rights or remedies granted by law, including the right to claim damage, to do either of the following: 1. Immediately immediately rescind this Lease Agreement and eject evict COMPANY from the Leased Property, without affecting the rights of IAMSA under the terms of paragraph A), 1) of this Clause. 2. Claim Specific Performance. In the case of default as specified above, PIMSA shall, in addition to all other remedies, have the right to declare in the event the "Rent for the Initial Term", or "Rent for the Extended Term", as applicable, is being paid in installments, the entire unpaid balance of the installments on rent to the end of the Five (5) Year Lease Term then in effect, and all other sums due to PIMSA, immediately due and payable, plus interest at the rate of twenty percent (20%) per annum of said sums from the date of such declaration until payment in full, provided that PIMSA shall diligently proceed to lease the Leased Property to another tenant or otherwise make beneficial use thereof in mitigation of damages, rent and all other sums due or payable to PIMSA. In the event the Leased Property is leased to another tenant during the aforesaid Five (5) Year Lease Term or otherwise used in a beneficial manner: a. PIMSA shall promptly refund to COMPANY that portion of rent and interest paid by COMPANY pursuant to this Paragraph 2 which is allocable to the period of the Lease Term during which the Leased Property was leased to another tenant or otherwise used in a beneficial manner as well as any other allocable sums paid by COMPANY to PIMSA, less any loss or damage incurred by PIMSA as a result of COMPANY's default, or; b. If such rent or other sums have not been paid by COMPANY to PIMSA, PIMSA shall credit such amount(s) to COMPANY.

Company’s Default. A. Each of the following shall be a default of COMPANY: 1. Vacation Vacating or abandonment of the Leased PropertyProperty.- PITSA shall consider the building abandoned when COMPANY closes its operation, without written terminates all employees and stops making payment of rent for one or more months. Under such circumstances PITSA may proceed to take over the building after notifying COMPANY under the terms hereunder provided, and no answer is received for a period of fifteen (15) days following such notice. For such purpose, PITSA is hereby expressly authorized by COMPANY to request the competent Court under a voluntary jurisdiction procedure to be given possession of the building using any legal means provided by Law, and expressly waiving COMPANY the right to be served notice due to PIMSAprior notice of abandonment This procedure shall be observed independently of any other remedies of PITSA as provided hereunder. Consequently COMPANY hereby expressly consents and submits to such action, waiving expressly any action to file any claim against PITSA and/or its representatives for any such taking over, or claim damages or losses of any nature. 2. Failure to pay any installment of rent due and payable hereunder upon the date when said payment is due, said failure continuing as provided for a period in clause “V” , paragraph “A” hereunder, without need of ten (10) days.notice of any kind; 3. Default in the performance of any of COMPANY's covenantscovenant, agreements or obligations hereunder, said default, except for default in the payment of any installment of rentrents, continuing for fifteen (15) days after written notice thereof is delivered from PIMSA given by PITSA to COMPANYCOMPANY (or for any reasonable period necessary for COMPANY to cure said default given by PITSA); 4. A general assignment by COMPANY for the benefit of creditors; 5. The filing of a voluntary petition in bankruptcy by COMPANY or the filing of an involuntary petition by COMPANY's ’s creditors, said petition remaining undischarged for a period of ninety sixty (9060) days; 6. The appointment of a Receiver to take possession of substantially all of COMPANY's assets’s assets or of the Lease Property, said Receivership receivership remaining undischarged undissolved or unstayed for a period of ninety thirty (9030) days;; or 7. AttachmentFailure by COMPANY to comply with any and all applicable laws and regulations of any Environmental Agency of the Government of Mexico, execution in connection with the use or other judicial seizure operation of substantially any equipment by COMPANY that may be considered as contaminating by such Governmental Office, and failure to comply with any and all of COMPANY's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereofrecommendations so given by said Governmental Office in connection therewith. B. In addition to Upon the above, each of the following shall be considered a default of the COMPANY, if there is in respect to GUARANTOR: 1. A general assignment by GUARANTOR for the benefit of creditors; 2. The filing of a voluntary petition in bankruptcy by GUARANTOR or the filing of an involuntary petition by GUARANTOR's creditors, said petition remaining undischarged for a period of ninety (90) days; 3. The appointment of a Receiver to take possession of substantially all of GUARANTOR's assets or of this leasehold, said Receivership remaining undissolved for a period of ninety (90) days or; 4. Attachment, execution or other judicial seizure of substantially all of GUARANTOR's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. C. Upon occurrence of any one of the foregoing defaults, PIMSA PITSA shall have the right, at its option, and in addition to other rights or remedies granted by law, including the right to claim damage, to do either of the following: 1. Immediately immediately rescind this Lease Agreement and eject evict COMPANY from the Leased Property. 2. Claim Specific Performance. In the case , independently of default as specified above, PIMSA shall, in addition to all other remedies, have the right to declare in the event the "Rent for the Initial Term", or "Rent for the Extended Term", as applicable, is being paid in installments, the entire unpaid balance granted under paragraph A-l) of the installments on rent to the end of the Five (5) Year Lease Term then in effect, and all other sums due to PIMSA, immediately due and payable, plus interest at the rate of twenty percent (20%) per annum of said sums from the date of such declaration until payment in full, provided that PIMSA shall diligently proceed to lease the Leased Property to another tenant or otherwise make beneficial use thereof in mitigation of damages, rent and all other sums due or payable to PIMSA. In the event the Leased Property is leased to another tenant during the aforesaid Five (5) Year Lease Term or otherwise used in a beneficial manner: a. PIMSA shall promptly refund to COMPANY that portion of rent and interest paid by COMPANY pursuant to this Paragraph 2 which is allocable to the period of the Lease Term during which the Leased Property was leased to another tenant or otherwise used in a beneficial manner as well as any other allocable sums paid by COMPANY to PIMSA, less any loss or damage incurred by PIMSA as a result of COMPANY's default, or; b. If such rent or other sums have not been paid by COMPANY to PIMSA, PIMSA shall credit such amount(s) to COMPANYClause.

Company’s Default. A. Each of the following Company shall be a in default of COMPANY(“Company’s Default”) hereunder if: 1. Vacation or abandonment of Leased Property, without written notice to PIMSA. 2. Failure (a) Company fails to pay Contractor any installment undisputed amount due Contractor under Article 2 (“Project Commencement and Completion”) or Article 3 (“Consideration and Payment”); (b) Company has failed in any material respect to comply with its other material obligations under this Contract; provided, however, that if all material adverse consequences of rent due and payable hereunder upon the date when said payment is due, said failure continuing for a breach of an obligation can be cured or remedied by Company within a period of ten thirty (1030) days.Business Days after such breach, such breach shall not become a Company’s Default until thirty (30) Business Days after such breach; 3. Default in (c) Company shall commence a voluntary case under the performance Bankruptcy Code; file a petition seeking to take advantage of any other laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up or composition or adjustment of COMPANY's covenantsdebts; consent to or fail to contest in a timely and appropriate manner any petition filed against it in an insolvency case under such bankruptcy laws or other laws; apply for, agreements or obligations hereunderconsent to or fail to contest in a timely and appropriate manner, said defaultthe appointment of, except default or the taking of possession by, a receiver, custodian, trustee, liquidator or the like of itself or of a substantial part of its assets; admit in writing its inability to pay, or generally not be paying, its debts (other than those that are the payment subject of any installment of rent, continuing for fifteen (15bona fide disputes) days after written notice thereof is delivered from PIMSA to COMPANY; 4. A as they become due; make a general assignment by COMPANY for the benefit of creditors; 5. The filing ; take any action for the purpose of effecting any of the foregoing; or a case or other proceeding shall be commenced by a third party against Company seeking (i) relief under the Federal bankruptcy laws (as now or hereafter in effect) or under any other laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization, winding up or composition or adjustment of debts or (ii) the appointment of a voluntary petition in bankruptcy by COMPANY trustee, receiver, custodian, liquidator or the filing like of an involuntary petition by COMPANY's creditorsCompany of all or any substantial part of its assets, said petition remaining undischarged and such case or proceeding shall continue undismissed or unstayed for a period of ninety sixty (9060) days; 6. The appointment (d) any representation or warranty made by Company in this Contract for which an express remedy is not provided shall have been false in any material respect as of a Receiver to take possession the date made; (e) any suspension of substantially all of COMPANY's assets, said Receivership remaining undischarged the Work requested by Company continues for a period of ninety more than thirty (9030) days; 7. Attachment, execution or other judicial seizure of substantially all of COMPANY's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. B. In addition to the above, each of the following shall be considered a default of the COMPANY, if there is in respect to GUARANTOR: 1. A general assignment by GUARANTOR for the benefit of creditors; 2. The filing of a voluntary petition in bankruptcy by GUARANTOR or the filing of an involuntary petition by GUARANTOR's creditors, said petition remaining undischarged for a period of ninety (90) days; 3. The appointment of a Receiver to take possession of substantially all of GUARANTOR's assets or of this leasehold, said Receivership remaining undissolved for a period of ninety (90) days or; 4. Attachment, execution or other judicial seizure of substantially all of GUARANTOR's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. C. Upon occurrence of any one of the foregoing defaults, PIMSA shall have the right, at its option, and in addition Company and Contractor are unable to other rights or remedies granted by lawagree on a Change Order, including the right to claim damage, to do either of the following: 1. Immediately rescind this Lease Agreement and eject COMPANY from the Leased Property. 2. Claim Specific Performance. In the case of default as specified above, PIMSA shall, in addition to all other remedies, have the right to declare in the event the "Rent for the Initial Term", or "Rent for the Extended Term", as applicable, unless such dispute is being paid in installmentsprosecuted under article 31 (“Claims, the entire unpaid balance of the installments on rent to the end of the Five (5) Year Lease Term then in effect, Claim Notice and all other sums due to PIMSA, immediately due and payable, plus interest at the rate of twenty percent (20%) per annum of said sums from the date of such declaration until payment in full, provided that PIMSA shall diligently proceed to lease the Leased Property to another tenant or otherwise make beneficial use thereof in mitigation of damages, rent and all other sums due or payable to PIMSA. In the event the Leased Property is leased to another tenant during the aforesaid Five (5) Year Lease Term or otherwise used in a beneficial manner: a. PIMSA shall promptly refund to COMPANY that portion of rent and interest paid by COMPANY pursuant to this Paragraph 2 which is allocable to the period of the Lease Term during which the Leased Property was leased to another tenant or otherwise used in a beneficial manner as well as any other allocable sums paid by COMPANY to PIMSA, less any loss or damage incurred by PIMSA as a result of COMPANY's default, or; b. If such rent or other sums have not been paid by COMPANY to PIMSA, PIMSA shall credit such amount(s) to COMPANYDispute Resolution”).

Company’s Default. A. Each of the following shall be a default of COMPANY: 1. Vacation Vacating or abandonment of the Leased Property. IAMSA shall consider the building abandoned when COMPANY closes its operation, without written terminates all employees and stops making payment of rent for one or more months. Under such circumstances IAMSA may proceed to take over the building after notifying COMPANY under the terms hereunder provided, and no answer is received for a period of fifteen (15) days following such notice. For such purpose, IAMSA is hereby expressly authorized by COMPANY to request the competent Court under a voluntary jurisdiction procedure to be given possession of the building using any legal means provided by Law, and expressly waiving COMPANY the right to be notified due to prior notice of abandonment. This procedure shall be observed independently of any other remedies of IAMSA as provided hereunder. Consequently COMPANY hereby expressly consents and submits to PIMSAsuch action, waiving expressly any action to file any claim against IAMSA and/or its representatives for any such taking over. 2. Failure to pay any installment of rent due and payable hereunder upon the date when said payment is due, said failure continuing as provided for a period of ten (10) daysin clause “V”, paragraph “A” hereunder, following fourteen days after COMPANY receives written notice. 3. Default in the performance of any of COMPANY's covenantscovenant, agreements agreement or obligations obligation hereunder, said default, except for default in the payment of any installment of rentrents, continuing for fifteen (15) days after written notice thereof is delivered from PIMSA given by IAMSA to COMPANYCOMPANY (or for any reasonable period necessary for COMPANY to cure said default given by IAMSA); 4. A general assignment by COMPANY for the benefit of creditors; 5. The filing of a voluntary petition in bankruptcy by COMPANY or the filing of an involuntary petition by COMPANY's ’s creditors, said petition remaining undischarged for a period of ninety (90) days; 6. The appointment of a Receiver to take possession of substantially all of COMPANY's assets’s assets or of the Lease Property, said Receivership receivership remaining undischarged undissolved or unstayed for a period of ninety thirty (9030) days;; or 7. AttachmentFailure by COMPANY to comply with any and all applicable laws and regulations of any Environmental Agency of the Government of Mexico, execution in connection with the use or other judicial seizure operation of substantially any equipment by COMPANY that may be considered as contaminating by such Governmental Office, and failure to comply with any and all of COMPANY's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereofrecommendations so given by said Governmental Office in connection therewith. B. In addition to Upon the above, each of the following shall be considered a default of the COMPANY, if there is in respect to GUARANTOR: 1. A general assignment by GUARANTOR for the benefit of creditors; 2. The filing of a voluntary petition in bankruptcy by GUARANTOR or the filing of an involuntary petition by GUARANTOR's creditors, said petition remaining undischarged for a period of ninety (90) days; 3. The appointment of a Receiver to take possession of substantially all of GUARANTOR's assets or of this leasehold, said Receivership remaining undissolved for a period of ninety (90) days or; 4. Attachment, execution or other judicial seizure of substantially all of GUARANTOR's assets or this leasehold, such attachment, execution or other seizure remaining undismissed or undischarged for a period of ninety (90) days after the levy thereof. C. Upon occurrence of any one of the foregoing defaults, PIMSA IAMSA shall have the right, at its option, and in addition to other rights or remedies granted by law, including the right to claim damage, to do either of the following: 1. Immediately immediately rescind this Lease Agreement and eject evict COMPANY from the Leased Property. 2. Claim Specific Performance. In the case , independently of default as specified above, PIMSA shall, in addition to all other remedies, have the right to declare in the event the "Rent for the Initial Term", or "Rent for the Extended Term", as applicable, is being paid in installments, the entire unpaid balance granted under paragraph A-l) of the installments on rent to the end of the Five (5) Year Lease Term then in effect, and all other sums due to PIMSA, immediately due and payable, plus interest at the rate of twenty percent (20%) per annum of said sums from the date of such declaration until payment in full, provided that PIMSA shall diligently proceed to lease the Leased Property to another tenant or otherwise make beneficial use thereof in mitigation of damages, rent and all other sums due or payable to PIMSA. In the event the Leased Property is leased to another tenant during the aforesaid Five (5) Year Lease Term or otherwise used in a beneficial manner: a. PIMSA shall promptly refund to COMPANY that portion of rent and interest paid by COMPANY pursuant to this Paragraph 2 which is allocable to the period of the Lease Term during which the Leased Property was leased to another tenant or otherwise used in a beneficial manner as well as any other allocable sums paid by COMPANY to PIMSA, less any loss or damage incurred by PIMSA as a result of COMPANY's default, or; b. If such rent or other sums have not been paid by COMPANY to PIMSA, PIMSA shall credit such amount(s) to COMPANYClause.