Common use of Lessor Remedies Clause in Contracts

Lessor Remedies. 20.1. Lessee acknowledges that the enforcement of this Agreement may require approval of certain regulatory authorities and copies of all Default Notices, legal proceedings, etc. will be forwarded to the appropriate agency as required by state law or regulation. Lessee further acknowledges that if any Event of Default occurs and is continuing after the expiration of any applicable cure period, Lessor may, in addition to any and all rights and remedies it may have at law or in equity, without notice to or demand upon any party to this Agreement and at its sole option, terminate this Lease, all Lease Schedules and the Charter and thereafter, if Lessor has not received notice from Lessee pursuant to Section 21.2 of its intent to exercise its option thereunder or, if such notice is received but Lessee does not consummate the purchase within thirty (30) days:

Lessor Remedies. 20.1. Lessee acknowledges that the enforcement of this Agreement may require approval of certain regulatory authorities and copies of all Default Notices, legal proceedings, etc. will be forwarded to the appropriate agency as required by state law or regulation. Lessee further acknowledges that if any Event of Default occurs and is continuing after the expiration of any applicable cure period, Lessor may, in addition to any and all rights and remedies it may have at law or in equity, without notice to or demand upon any party to this Agreement and at its sole option, terminate this Lease, Lease and all Lease Schedules and the Charter and thereafter, if Lessor has not received notice from Lessee pursuant to Section 21.2 of its intent to exercise its option thereunder or, if such notice is received but Lessee does not consummate the purchase within thirty sixty (3060) days: