Common use of Lessee Default Clause in Contracts

Lessee Default. If Lessee fails to observe or perform any term, covenant or condition of this Agreement or the Franchise Agreement and such failure is not cured by Lessee within a period of thirty (30) days after receipt by Lessee of notice thereof from Manager, unless such failure cannot with due diligence be cured within a period of thirty (30) days, in which case it shall not be deemed an "Lessee Default" if Lessee proceeds promptly and with due diligence to cure the failure and diligently completes the curing thereof, then Manager may exercise one or more remedies available to it herein or at law or in equity, including, but not limited to its right to terminate this Agreement.