D efault. In the event LESSEE shall file or have filed against it a petition under the Bankruptcy Act, or shall make as assignment for the benefit of creditors, become insolvent, or fail to fully and faithfully comply with the terms and provisions hereof, then in such event, LESSEE shall be deemed to be in default of this AGREEMENT, and in the event LESSEE shall fail to cure such default within thirty (30) days after written notice shall have been given to them by IFRA in a manner provided here in below, IFRA may elect to terminate this AGREEMENT or alternately or in addition thereto, IFRA may pursue any other remedies at law or in equity to enforce the performance of this AGREEMENT or to recover damages for the breach thereof. Such notice shall generally set forth the nature of the default claimed by LESSOR.
Appears in 2 contracts
Sources: Non Commercial Lease Agreement, Non Commercial Lease Agreement