Common use of Bankruptcy or Reorganization of the Contractor Clause in Contracts

Bankruptcy or Reorganization of the Contractor. To the extent that the Authority's right to terminate this Contract in accordance with this Article is determined to be unenforceable under 11 U.S.C. Section 101 et.seq. as amended from time to time (the "Code"), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than non-monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract; (3) assume or reject this Contract within the minimum period of time provided for so doing under the Bankruptcy Code and in connection therewith, Contractor hereby waives any right to request extensions of such time period unless Authority agrees in writing to permit an extended time period; (4) provide the Authority at least thirty (30) days prior written notice of any intended filing relating to its assumption of this Contract and in such notice, provide detail regarding any proposed assignee of the Contract, including financial information regarding such intended assignee; (5) upon the assumption of the Contract, cure any pre-petition default of Contractor under the Contract and provide Authority with adequate assurance regarding the ability of Contractor to continue to comply with the Contract; (6) provide the Authority adequate assurance of future performance under the Lease by the Contractor or Contractor’s assignee. Nothing herein shall be deemed a consent by Authority regarding Contractor’s ability to assign this Contract to any third party without Authority’s written consent. For purposes of this paragraph, “adequate assurance of future performance” shall be determined by the Authority in its sole discretion, provided however that Authority shall be reasonable in such determination. If there exists any post-petition default under the Contract, Contractor agrees to consent in writing to relief from the automatic stay under the Bankruptcy Code in favor of the Authority to enable Authority to terminate the Contract as expeditiously as possible. (1) to perform promptly every obligation of Contractor under this Contract until this Contract is either rejected, assumed or deemed rejected under the Code; (2) to pay on a current basis, as set forth herein, the monthly payments; (3) to reject or assume this Contract within sixty (60) days of a filing of a petition under the Code; (4) to give the Authority at least forty-five (45) days prior written notice of any proceeding relating to assumption of this Contract; (5) to cure or provide adequate assurance of a prompt cure of any default of Contractor under this Contract; (6) to provide to the Authority adequate assurance of future performance under the Contract.

Bankruptcy or Reorganization of the Contractor. To the extent that the Authority's right to terminate this Contract in accordance with this Article is determined to be unenforceable under 11 U.S.C. Section 101 et.seq. as amended from time to time (the "Code"), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than non-monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract; (3) assume or reject this Contract within the minimum period of time provided for so doing under the Bankruptcy Code and in connection therewith, Contractor hereby waives any right to request extensions of such time period unless Authority agrees in writing to permit an extended time period; (4) provide the Authority at least thirty (30) days prior written notice of any intended filing relating to its assumption of this Contract and in such notice, provide detail regarding any proposed assignee of the Contract, including financial information regarding such intended assignee; (5) upon the assumption of the Contract, cure any pre-petition default of Contractor under the Contract and provide Authority with adequate assurance regarding the ability of Contractor to continue to comply with the Contract; (6) provide the Authority adequate assurance of future performance under the Lease by the Contractor or Contractor’s assignee. Nothing herein shall be deemed a consent by Authority regarding Contractor’s ability to assign this Contract to any third party without Authority’s written consent. For purposes of this paragraph, “adequate assurance of future performance” shall be determined by the Authority in its sole discretion, provided however that Authority shall be reasonable in such determination. If there exists any post-petition default under the Contract, Contractor agrees to consent in writing to relief from the automatic stay under the Bankruptcy Code in favor of the Authority to enable Authority to terminate the Contract as expeditiously as possible.adequate (1) to perform promptly every obligation of Contractor under this Contract until this Contract is either rejected, assumed or deemed rejected under the Code; (2) to pay on a current basis, as set forth herein, the monthly payments; (3) to reject or assume this Contract within sixty (60) days of a filing of a petition under the Code; (4) to give the Authority at least forty-five (45) days prior written notice of any proceeding relating to assumption of this Contract; (5) to cure or provide adequate assurance of a prompt cure of any default of Contractor under this Contract; (6) to provide to the Authority adequate assurance of future performance under the Contract.

Bankruptcy or Reorganization of the Contractor. To the extent that the Airports Authority's ’s right to terminate this Contract in accordance with this Article is determined to be unenforceable under 11 U.S.C. Section 101 et.seq. as amended from time to time (the "Code"), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than non-monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract; (3) assume or reject this Contract within the minimum period of time provided for so doing under the Bankruptcy Code and in connection therewith, Contractor hereby waives any right to request extensions of such time period unless the Airports Authority agrees in writing to permit an extended time period; (4) provide the Airports Authority at least thirty forty five (3045) days Days’ prior written notice of any intended filing relating to its assumption of this Contract and in such notice, provide detail regarding any proposed assignee of the Contract, including financial information regarding such intended assignee; (5) upon the assumption of the Contract, cure any pre-petition default of Contractor under the Contract and provide the Airports Authority with adequate assurance regarding the ability of Contractor to continue to comply with the Contract; (6) provide the Airports Authority adequate assurance of future performance under the Lease Contract by the Contractor or Contractor’s assignee. Nothing herein shall be deemed a consent by the Airports Authority regarding Contractor’s ability to assign this Contract to any third party without the Airports Authority’s written consent. For purposes of this paragraph, “adequate assurance of future performance” shall be determined by the Airports Authority in its sole discretion, provided however that the Airports Authority shall be reasonable in such determination. If there exists any post-petition default under the Contract, Contractor agrees to consent in writing to relief from the automatic stay under the Bankruptcy Code in favor of the Airports Authority to enable the Airports Authority to terminate the Contract as expeditiously as possible. (1) to perform promptly every obligation of Contractor under this Contract until this Contract is either rejected, assumed or deemed rejected under the Code; (2) to pay on a current basis, as set forth herein, the monthly payments; (3) to reject or assume this Contract within sixty (60) days of a filing of a petition under the Code; (4) to give the Authority at least forty-five (45) days prior written notice of any proceeding relating to assumption of this Contract; (5) to cure or provide adequate assurance of a prompt cure of any default of Contractor under this Contract; (6) to provide to the Authority adequate assurance of future performance under the Contract.

Bankruptcy or Reorganization of the Contractor. To the extent that the Authority's right to terminate this Contract in accordance with this Article is determined to be unenforceable under 11 U.S.C. Section 101 et.seq. as amended from time to time (the "Code"), or under any other statute, then Contractor as well as any trustee for the estate of Contractor agree to: (1) perform promptly every obligation of Contractor under this Contract (other than non-monetary obligations of the Contractor that are not capable of being performed due to the filing of a bankruptcy case by the Contractor under the Bankruptcy Code) until this Contract is either rejected, assumed or deemed rejected under the Bankruptcy Code; (2) pay the post-petition monthly payments of rent and other fees and expenses as and when such payments become due under the Contract; (3) assume or reject this Contract within the minimum period of time provided for so doing under the Bankruptcy Code and in connection therewith, Contractor hereby waives any right to request extensions of such time period unless Authority agrees in writing to permit an extended time period; (4) provide the Authority at least thirty (30) days prior written notice of any intended filing relating to its assumption of this Contract and in such notice, provide detail regarding any proposed assignee of the Contract, including financial information regarding such intended assignee; (5) upon the assumption of the Contract, cure any pre-petition default of Contractor under the Contract and provide Authority with adequate assurance regarding the ability of Contractor to continue to comply with the Contract; (6) provide the Authority adequate assurance of future performance under the Lease by the Contractor or Contractor’s assignee. Nothing herein shall be deemed a consent by Authority regarding Contractor’s ability to assign this Contract to any third party without Authority’s written consent. For purposes of this paragraph, “adequate assurance of future performance” shall be determined by the Authority in its sole discretion, provided however that Authority shall be reasonable in such determination. If there exists any post-petition default under the Contract, Contractor agrees to consent in writing to relief from the automatic stay under the Bankruptcy Code in favor of the Authority to enable Authority to terminate the Contract as expeditiously as possible. (1) to perform promptly every obligation of Contractor under this Contract until this Contract is either rejected, assumed or deemed rejected under the Code; (2) to pay on a current basis, as set forth herein, the monthly payments; (3) to reject or assume this Contract within sixty (60) days of a filing of a petition under the Code; (4) to give the Authority at least forty-five (45) days prior written notice of any proceeding relating to assumption of this Contract; (5) to cure or provide adequate assurance of a prompt cure of any default of Contractor under this Contract; (6) to provide to the Authority adequate assurance of future performance under the Contract.