Common use of Default or Breach Clause in Contracts

Default or Breach. (a) It is agreed by and between the parties hereto that; (i) if Tenant shall fail to make any payment of rents or taxes, assessments, insurance premiums, water rates, or any other sum herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent payment, or (ii) if Tenant shall fail to keep and perform any other covenant, condition or agreement herein provided on the part of Tenant to be performed; then, and in such case, Landlord may serve upon Tenant written notice of such default; and if such default shall then continue without being wholly remedied for a period of thirty (30) days after the service of such notice, or in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of such default within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination, then it shall and may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess the Premises, and the building and improvements situated thereon, or any part thereof, either with or without process of law, and Tenant does in such event, hereby waive any demand for possession of the Premises, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election of Landlord, or in any other way, to immediately surrender and deliver up the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunder.

Default or Breach. If Lessee (a) It is agreed fails to pay or cause to be paid any tax, assessment, insurance premium, lien, claim, charge, or demand herein provided to be paid or caused to be paid by Lessee at all times and between in the parties hereto thatmanner herein provided; or (ib) if Tenant shall fail to make any defaults in the payment of rents or taxes, assessments, insurance premiums, water rates, any installment of rent or any other sum when due and provided; or (c) fails to use, maintain, and operate the Premises as herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent paymentrequired, or abandon the property; or (iid) if Tenant shall fail to keep and perform defaults in the performance of or breach of any other covenant, condition condition, or agreement restriction of this Lease Agreement herein provided on the part of Tenant to be performedkept or performed by Lessee; then, and in such case, Landlord may serve upon Tenant then City shall give written notice of such default; and if to remedy such default shall then continue without being wholly or breach. If the default or breach is remedied for a period of within thirty (30) days after the service of following such notice, or then this Lease Agreement shall continue in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of full force and effect. If such default or breach is not remedied within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination30) days following such notice, then it shall and City may, at its option, terminate this Lease Agreement, and, in addition to all of the remedies, the City may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess lease the Premises, and all improvements shall become the building sole property of City. Upon termination, all subleases, at the option of City, shall terminate. Such termination shall not be considered a waiver of damages or other remedies available to either party because of such default or breach. Each term and improvements situated thereoncondition of this Lease Agreement shall be deemed to be both a covenant and a condition. Upon default or breach by Lessee, City may, in addition to all other remedies available in law or any part thereofequity, either with recover all damages proximately resulting from the breach or without process default, including, but not limited to, the cost of lawrecovering the Premises, attorneys' fees and all costs or expenses of litigation and the total balance of lease payments due under this Lease Agreement for the remainder of the Lease Agreement term, which sum shall be immediately due City from Lessee. Appointment of a receiver to take possession of Xxxxxx's assets, Xxxxxx's general assignment for the benefit of creditors, Xxxxxx's insolvency, and Tenant does in Xxxxxx's taking or suffering action under the Bankruptcy Act are breaches of this Lease Agreement. Upon any such event, hereby waive any demand for possession City shall have the option to terminate this Lease Agreement or to require that Lessee provide additional security by means of the Premisesa cash security deposit, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election of Landlordadvance rental payments, or in any such other way, action as City deems prudent to immediately surrender and deliver up protect the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunderpublic fisc.

Default or Breach. (a) It is agreed by and between the parties hereto that; Should Lessee (i) if Tenant shall fail to make pay or cause to be paid any tax, assessment, insurance premium, lien, claim, charge, or demand herein provided to be paid or caused to be paid by Lessee at all times and in the manner herein provided; or (ii) default in the payment of rents or taxes, assessments, insurance premiums, water rates, any installment of rent or any other sum herein stipulated when due and agreed provided; or (iii) fail to be paid commence or keptto complete the construction, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent paymentrepair, restoration, or replacement of the hangar and any other improvements in and about the Premises within the times and in the manners herein provided; or (iiiv) if Tenant shall fail fails to keep use, maintain, and perform operate the Premises as herein required, or abandon the property; or (v) default in the performance of or breach of any other covenant, condition condition, or agreement restriction of this Lease Agreement herein provided on the part of Tenant to be performedkept or performed by Lessee; then, and in such case, Landlord may serve upon Tenant City shall give written notice of such default; and if to remedy such default shall then continue without being wholly or breach. If the default or breach is remedied for a period of within thirty (30) days after the service of following such notice, or then this Lease Agreement shall continue in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of full force and effect. If such default or breach is not remedied within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination, then it shall and may be lawful for Landlord, without further 30) days following such notice, City may, at its option, terminate this Lease Agreement, and, in addition to declare said Term endedall of the remedies, and to City may re-enter and re-possess lease the Premises, and all improvements shall become the building sole property of City. Upon termination, all subleases, at the option of City, shall terminate. Such termination shall not waive any remedy available to either party because of such default or breach. Each term and improvements situated thereoncondition of this Lease Agreement shall be deemed to be both a covenant and a condition. Upon default or breach by Lessee, City may, in addition to all other remedies available in law or any part thereofequity, either with recover all damages proximately resulting from the breach or without process default, including, but not limited to, the cost of lawrecovering the Premises, attorneys' fees, and Tenant does in the total balance of lease payments due under this Lease Agreement for the remainder of the Lease Agreement term, which sum shall be immediately due City from Lessee. Appointments of a receiver to take possession of Lessee’s assets, Lessee’s general assignment for the benefit of creditors, Lessee’s insolvency, and Lessee’s taking or suffering action under the Bankruptcy Act are breaches of this Lease Agreement. Upon any such event, hereby waive any demand for possession City shall have the option to terminate this Lease Agreement or to require that Lessee provide additional security by means of the Premisesa cash security deposit, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election of Landlordadvance rental payments, or in any such other way, action as City deems prudent to immediately surrender and deliver up protect the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunderpublic fisc.

Default or Breach. If Lessee (a) It is agreed fails to pay or cause to be paid any tax, assessment, insurance premium, lien, claim, charge, or demand herein provided to be paid or caused to be paid by Lessee at all times and between in the parties hereto thatmanner herein provided; or (ib) if Tenant shall fail to make any defaults in the payment of rents or taxes, assessments, insurance premiums, water rates, any installment of rent or any other sum when due and provided; or (c) fails to use, maintain, and operate the Premises as herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent paymentrequired, or abandon the property; or (iid) if Tenant shall fail to keep and perform defaults in the performance of or breach of any other covenant, condition condition, or agreement restriction of this Lease Agreement herein provided on the part of Tenant to be performedkept or performed by Lessee; then, and in such case, Landlord may serve upon Tenant then City shall give written notice of such default; and if to remedy such default shall then continue without being wholly or breach. If the default or breach is remedied for a period of within thirty (30) days after the service of following such notice, or then this Lease Agreement shall continue in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of full force and effect. If such default or breach is not remedied within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination30) days following such notice, then it shall and City may, at its option, terminate this Lease Agreement, and, in addition to all of the remedies, the City may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess lease the Premises, and all improvements shall become the building sole property of City. Upon termination, all subleases, at the option of City, shall terminate. Such termination shall not be considered a waiver of damages or other remedies available to either party because of such default or breach. Each term and improvements situated thereoncondition of this Lease Agreement shall be deemed to be both a covenant and a condition. Upon default or breach by Lessee, City may, in addition to all other remedies available in law or any part thereofequity, either with recover all damages proximately resulting from the breach or without process default, including, but not limited to, the cost of lawrecovering the Premises, attorneys' fees and all costs or expenses of litigation and the total balance of lease payments due under this Lease Agreement for the remainder of the Lease Agreement term, which sum shall be immediately due City from Lessee. Appointment of a receiver to take possession of Lessee's assets, Lessee's general assignment for the benefit of creditors, Lessee's insolvency, and Tenant does in Lessee's taking or suffering action under the Bankruptcy Act are breaches of this Lease Agreement. Upon any such event, hereby waive any demand for possession City shall have the option to terminate this Lease Agreement or to require that Lessee provide additional security by means of the Premisesa cash security deposit, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election of Landlordadvance rental payments, or in any such other way, action as City deems prudent to immediately surrender and deliver up protect the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunderpublic fisc.

Default or Breach. The Letter of Credit shall be maintained in effect from the date hereof through the date which is one hundred twenty (a) It is agreed by and between the parties hereto that; (i) if Tenant shall fail to make any payment of rents or taxes, assessments, insurance premiums, water rates, or any other sum herein stipulated and agreed to be paid or kept, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent payment, or (ii) if Tenant shall fail to keep and perform any other covenant, condition or agreement herein provided on the part of Tenant to be performed; then, and in such case, Landlord may serve upon Tenant written notice of such default; and if such default shall then continue without being wholly remedied for a period of thirty (30120) days after the service of such noticeExpiration Date, or in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of such default within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination, then it shall and may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess the Premises, and the building and improvements situated thereon, or any part thereof, either with or without process of law, and Tenant does in such event, hereby waive any demand for possession provided that upon Sublessee's surrender of the Premises, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term Premises at the election of Landlord, or in any other way, to immediately surrender and deliver up the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination expiration of the Term, Sublessor and this Lease Sublessee shall become void and of no further effectendeavor to determine as soon as practicable any amounts owing by Sublessee, and Landlord within five (5) Business Days after payment of such amount and Sublessee's fulfillment of any other obligations to Sublessor, Sublessor shall return to Sublessee the Letter of Credit and any Letter of Credit Proceeds then held by Sublessor (other than those held for application by Sublessor as provided below). Sublessor shall not be required to segregate the Letter of Credit Proceeds from its other funds, and in no event shall Letter of Credit Proceeds or any portion thereof be deemed to be held in trust for Sublessee. No interest shall accrue or be payable to Sublessee with respect to the Letter of Credit Proceeds. Sublessor may hold (but shall not be required to) draw upon the Letter of Credit and retain use the Premises and all buildings and improvements thereon proceeds therefrom (the "Letter of Credit Proceeds") or any portion thereof to cure any Default or Breach under this Sublease or to compensate Sublessor for any damage Sublessor incurs as a result of Sublessee's failure to perform any of its first obligations hereunder, it being understood that any use of the Letter of Credit Proceeds shall not constitute a bar or former estate, subject defense to any mortgage executed pursuant of Sublessor's remedies set forth herein. In such event and upon written notice from Sublessor to Sublessee specifying the terms hereofamount of the Letter of Credit Proceeds so utilized by Sublessor and the particular purpose for which such amount was applied, and Sublessee shall immediately deliver to Sublessor an amendment letter of Credit or a replacement Letter of Credit in an amount equal to one hundred percent (100%) of the amount specified below. Sublessee's failure to deliver such replacement Letter of Credit to Sublessor within five (5) business days of Lessor's notice shall constitute a Breach hereunder. If Sublessee is not in default at the expiration or termination of this Lease Sublease, within one hundred twenty (120) days after such expiration or termination, or such earlier date as provided above, Sublessor shall return to Sublessee the Letter of Credit or the balance of the Letter of Credit Proceeds then held by Sublessor; provided, however, that in no event shall any such return be forfeited to Landlord, and Landlord may bring suit for and collect construed as an admission by Sublessor that Sublessee has performed all of its obligations hereunder. Under no circumstances shall Sublessor be required to return the past-due rents, taxes Letter of Credit or Letter of Credit proceeds before receiving written acknowledgment by Lessor that Sublessor has fulfilled all of its Sublessor's obligations and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunderis completely released from liability under the Lease.

Default or Breach. If Lessee (a) It is agreed fails to pay or to cause to be paid any tax, assessment, insurance premium, lien, claim, charge, or demand herein provided to be paid or caused to be paid by Lessee at all times and between in the parties hereto that; manner herein provided or (ib) if Tenant shall fail to make any defaults in the payment of rents or taxes, assessments, insurance premiums, water rates, any installment of rent or any other sum herein stipulated when due and agreed provided or (c) fails to be paid commence or keptto complete the construction, at the time same is required to be paid under the provisions of this Lease and such failure shall continue for a period of ten (10) days after Tenant receives from Landlord written notice of such delinquent paymentrepair, restoration, or replacement of the Hangar and any other improvements in and about the Premises within the times and in the manners herein provided or (iid) if Tenant shall fail fails to keep use, maintain, and perform operate the Premises as herein required, or abandons the Premises or (e) defaults in the performance of or breach of any other covenant, condition condition, or agreement restriction of this Lease Agreement herein provided on the part of Tenant to be performed; then, and in such case, Landlord kept or performed by Lessee then City may serve upon Tenant give written notice of such default; and if to remedy such default shall then continue without being wholly or breach. If the default or breach is remedied for a period of within thirty (30) days after the service of following such notice, or then this Lease Agreement shall continue in the event of a breach other than the payment of money, Tenant shall not have commenced the remedying of full force and effect. If such default or breach is not remedied within the thirty (30)-day period subsequent to written notice and shall not diligently prosecute compliance to final termination30) days following such notice, then it shall and City may, at its option, terminate this Lease Agreement, and, in addition to all of the remedies, City may be lawful for Landlord, without further notice, to declare said Term ended, and to re-enter and re-possess lease the Premises, and all improvements shall become the building sole property of City. Upon termination, all subleases, at the option of City, shall terminate. Such termination shall not waive any remedy available to either party because of such default or breach. Each term and improvements situated thereoncondition of this Lease Agreement shall be deemed to be both a covenant and a condition. Upon default or breach by Lessee, City may, in addition to all other remedies available in law or any part thereofequity, either with recover all damages proximately resulting from the breach or without process default, including, but not limited to, the cost of lawrecovering the Premises, reasonable attorney's fees, and Tenant does in the total balance of payments due under this Lease Agreement for the remainder of the Lease Agreement term, which sum shall be immediately due City from Lessee. Appointments of a receiver to take possession of Lessee’s assets, Lessee’s general assignment for the benefit of creditors, Lessee’s insolvency, and Lessee’s taking or suffering action under the Bankruptcy Act are breaches of this Lease Agreement. Upon any such event, hereby waive any demand for possession City shall have the option to terminate this Lease Agreement or to require Lessee provide additional security by means of the Premisesa cash security deposit, and any and all buildings and improvements then situated thereon, and Tenant covenants and agrees, upon the termination of the Term at the election of Landlordadvance rental payments, or in any such other way, action as City deems prudent to immediately surrender and deliver up protect the Premises and property peaceably to Landlord, or the agents or attorneys of Landlord, immediately upon the termination of the Term, and this Lease shall become void and of no further effect, and Landlord may hold and retain the Premises and all buildings and improvements thereon as of its first or former estate, subject to any mortgage executed pursuant to the terms hereof, and this Lease shall be forfeited to Landlord, and Landlord may bring suit for and collect all of the past-due rents, taxes and assessments. All costs (including attorneys’ fees) occasioned by default of Tenant shall be an expense of Tenant, and shall be due as rental hereunderpublic fisc.