Common use of Board Remedies Clause in Contracts

Board Remedies. A. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, this Lease may be terminated by the Board at any time in the event: 1. Concessionaire shall be in arrears in the payment of the whole or any part of the Rent, fees or charges due hereunder for a period of thirty (30) days after receipt of written notice from the Board of the failure to make the required payments; 2. Concessionaire is late in paying Rent, fees or charges more than six (6) times during any year, or more than twelve (12) times during the Term of this Lease, even if all late payments have been paid prior to termination, including Late Payment Charges; 3. Concessionaire shall make a general assignment for the benefit of creditors; 4. Concessionaire shall abandon the Premises or any part thereof; 5. Concessionaire is found to have made a material misrepresentation in bidding for or otherwise soliciting the concession, including without limitation a misrepresentation concerning Concessionaire's experience in operating a retail concession of the type authorized by this Lease; 6. Concessionaire shall otherwise default in the performance of any of the covenants or conditions required herein to be kept and performed by Concessionaire, and the default continues for a period of thirty (30) days, or such other time as may be provided herein, after receipt of written notice from the Board of the default; provided, however, that if the nature of the default is such that it cannot be cured within thirty (30) days but may with diligence be cured within a reasonable amount of time not to exceed ninety (90) days, Concessionaire shall not be deemed to be in default if it, or its nominees, shall within the applicable period commence performance and thereafter diligently prosecute the same to completion. B. If Concessionaire has multiple concession locations pursuant to this Lease, any default constituting grounds for termination as to any location shall entitle the Board to terminate this Lease as to all locations, or fewer than all locations, in the Board's sole discretion. In the event the Board terminates this Lease for cause, the Board shall not be obligated to compensate Concessionaire for its unamortized capital investment. C. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, if the Board is entitled to terminate the Lease for cause, then the Board shall also, in its sole discretion, be entitled (with or without terminating the Lease) to recover damages measured by the total rent to be paid over the remainder of the Term, less the fair rental value of the Premises for the same period, discounted to present value. In this event, the total Rent to be paid over the remainder of the Term shall be calculated by using an average of the Percentage Rent paid during the preceding two years, subject to the MAG. D. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, if Concessionaire is late in paying Rent, fees or charges more than three

Board Remedies. A. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, this Lease may be terminated by the Board at any time in the event: 1. Concessionaire shall be in arrears in the payment of the whole or any part of the Rent, fees or charges due hereunder for a period of thirty (30) days after receipt of written notice from the Board of the failure to make the required payments; 2. Concessionaire is late in paying Rentrent, fees or charges more than six (6) times during any year, or more than twelve (12) times during the Term of this Lease, even if all late payments have been paid prior to termination, including Late Payment Charges; 3. Concessionaire shall make a general assignment for the benefit of creditors; 4. Concessionaire shall abandon the Premises or any part thereof; 5. Concessionaire is found to have made a material misrepresentation in bidding for or otherwise soliciting the concession, including without limitation a misrepresentation concerning Concessionaire's experience in operating a retail concession of the type authorized by this Lease; 6. Concessionaire shall otherwise default in the performance of any of the covenants or conditions required herein to be kept and performed by Concessionaire, and the default continues for a period of thirty (30) days, days or such other time as may be provided herein, after receipt of written notice from the Board of the default; provided, however, that if the nature of the default is such that it cannot be cured within thirty (30) days but may with diligence be cured within a reasonable amount of time not to exceed ninety (90) days, Concessionaire shall not be deemed to be in default if it, or its nominees, shall within the applicable period commence performance and thereafter diligently prosecute the same to completion. B. If Concessionaire has multiple concession locations pursuant to this Lease, any default constituting grounds for termination as to any location shall entitle the Board to terminate this Lease as to all locations, or fewer than all locations, in the Board's sole discretion. In the event the Board terminates this Lease for cause, the Board shall not be obligated to compensate Concessionaire for its unamortized capital investment. C. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, if the Board is entitled to terminate the Lease for cause, then the Board shall also, in its sole discretion, be entitled (with or without terminating the Lease) to recover damages measured by the total rent to be paid over the remainder of the Term, less the fair rental value of the Premises for the same period, discounted to present value. In this event, the total Rent to be paid over the remainder of the Term shall be calculated by using an average of the Percentage Rent paid during the preceding two years, subject to the MAG. D. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, if Concessionaire is late in paying Rentrent, fees or charges more than threethree (3) times during any year, the Board may (i) increase the required amount of Concessionaire's Cash Deposit or Security Bond to an amount deemed necessary by the Board in its sole discretion; or (ii) cancel Concessionaire's extension options, if any.

Board Remedies. A. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, this Lease may be terminated by the Board at any time in the event: 1. Concessionaire shall be in arrears in the payment of the whole or any part of the Rent, fees or charges due hereunder for a period of thirty (30) days after receipt of written notice from the Board of the failure to make the required payments; 2. Concessionaire is late in paying Rent, fees or charges more than six (6) times during any year, or more than twelve (12) times during the Term of this Lease, even if all late payments have been paid prior to termination, including Late Payment Charges; 3. Concessionaire shall make a general assignment for the benefit of creditors; 4. Concessionaire shall abandon the Premises or any part thereof; 5. Concessionaire is found to have made a material misrepresentation in bidding for or otherwise soliciting the concession, including without limitation a misrepresentation concerning Concessionaire's experience in operating a retail concession of the type authorized by this Lease; 6. Concessionaire shall otherwise default in the performance of any of the covenants or conditions required herein to be kept and performed by Concessionaire, and the default continues for a period of thirty (30) days, or such other time as may be provided herein, after receipt of written notice from the Board of the default; provided, however, that if the nature of the default is such that it cannot be cured within thirty (30) days but may with diligence be cured within a reasonable amount of time not to exceed ninety (90) days, Concessionaire shall not be deemed to be in default if it, or its nominees, shall within the applicable period commence performance and thereafter diligently prosecute the same to completion. B. If Concessionaire has multiple concession locations pursuant to this Lease, any default constituting grounds for termination as to any location shall entitle the Board to terminate this Lease as to all locations, or fewer than all locations, in the Board's sole discretion. In the event the Board terminates this Lease for cause, the Board shall not be obligated to compensate Concessionaire for its unamortized capital investment. C. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, if the Board is entitled to terminate the Lease for cause, then the Board shall also, in its sole discretion, be entitled (with or without terminating the Lease) to recover damages measured by the total rent to be paid over the remainder of the Term, less the fair rental value of the Premises for the same period, discounted to present value. In this event, the total Rent to be paid over the remainder of the Term shall be calculated by using an average of the Percentage Rent paid during the preceding two years, subject to the MAG. D. Without limiting any other rights or remedies to which the Board may be entitled at law or in equity, or as otherwise provided in this Lease, if Concessionaire is late in paying Rent, fees or charges more than threethree (3) times during any year, the Board may (i) increase the required amount of Concessionaire's Cash Deposit or Security Bond to an amount deemed necessary by the Board in its sole discretion; or (ii) cancel Concessionaire's extension options, if any.