Termination by HFS Clause Samples
Termination by HFS. Upon the occurrence of an Event of Default (as hereinafter defined) by THISCO and the failure of THISCO to cure such default after notice and opportunity to cure as provided by Section 6.3 hereof, HFS may terminate this Agreement at any time within 30 days after the expiration of the cure period provided in Section 6.3.
Termination by HFS. HFS shall have the right to ------------------ terminate this Agreement at any time, without penalty or further obligation to NLC hereunder and without prejudice to any accrued rights of HFS hereunder:
(a) immediately upon a Change in Control;
(b) immediately if an event of default shall have occurred under any Credit Facility as a result of which any indebtedness under that Credit Facility shall have become or shall be declared due and payable prior to its scheduled maturity;
(c) immediately if NLC becomes bankrupt or insolvent or files a petition concerning itself or seeks the protection of any bankruptcy, insolvency or similar law or makes an assignment for the benefit of creditors, or if a receiver is appointed to take charge of NLC's business; or
(d) immediately if NLC engages in any business, other than its gaming related investments in effect on the date hereof and the ownership, operation and development of hotels and motels and related activities.
(e) immediately, upon a breach by NLC of any of its obligations under this Agreement.