Common use of Breach/Default Clause in Contracts

Breach/Default. The parties hereto expressly covenant and agree that in the event there is a breach or default by Tenant in the performance of any term, covenant, or condition herein contained or hereafter established (and, with respect to any term, covenant or condition other than payment of rent or other sums due of Tenant hereunder, such breach is not cured by Tenant within ten (10) days after written notice thereof), or if proceedings are commenced against Tenant in any court under a bankruptcy act or for the appointment of a trustee or receiver of the Tenant's property, either before or after the commencement of the lease term, Landlord may, upon the giving of proper notice as provided for by the laws of the State of Michigan, terminate this Agreement of Lease, and upon Tenant's failure to vacate the premises, Landlord may re-enter or repossess the Leased Premises by summary proceedings and dispossess or remove the Tenant or occupants thereof and their effects. Landlord may store all property of Tenant so removed and Tenant shall pay Landlord the rate of One Hundred Dollars ($100.00) per day as storage fees. Upon re-entry or repossession, Landlord shall use all reasonable diligence to relet the Leased Premises, or any part thereof, and collect from Tenant the difference between the rent hereby reserved and agreed to be paid by Tenant for the portion of the term remaining at the time of re-entry or repossession and the amount, if any, received or to be received under such reletting for such portion of the term. If the repossessed property is relet pursuant to the terms of this section, Landlord may collect such rentals which, in his sole discretion, he may deem advisable, with the right to make alterations and repairs to the premises. Rentals received by Landlord from such reletting shall be applied as follows:

Breach/Default. The parties hereto expressly covenant and agree that in the event there is a breach or default by Tenant in the performance of any term, covenant, or condition herein contained or hereafter established (and, with respect to any term, covenant or condition other than payment of rent or other sums due of Tenant hereunder, such breach is not cured by Tenant within ten (10) days after 8 8 written notice thereof), or if proceedings are commenced against Tenant in any court under a bankruptcy act or for the appointment of a trustee or receiver of the Tenant's property, either before or after the commencement of the lease term, Landlord may, upon the giving of proper notice as provided for by the laws of the State of Michigan, terminate this Agreement of Lease, and upon Tenant's failure to vacate the premises, Landlord may re-enter or repossess the Leased Premises by summary proceedings and dispossess or remove the Tenant or occupants thereof and their effects. Landlord may store all property of Tenant so removed and Tenant shall pay Landlord the rate of One Hundred Dollars ($100.00) per day as storage fees. Upon re-entry or repossession, Landlord shall use all reasonable diligence to relet the Leased Premises, or any part thereof, and collect from Tenant the difference between the rent hereby reserved and agreed to be paid by Tenant for the portion of the term remaining at the time of re-entry or repossession and the amount, if any, received or to be received under such reletting for such portion of the term. If the repossessed property is relet pursuant to the terms of this section, Landlord may collect such rentals which, in his sole discretion, he may deem advisable, with the right to make alterations and repairs to the premises. Rentals received by Landlord from such reletting shall be applied as follows: