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:

Breach/Default. The parties hereto expressly covenant and agree that in 7.1 In the event there is a breach of the CONTRACT AGREEMENT by the CUSTOMER, the PARTIES shall expeditiously meet to consider the most equitable method of proceeding, but no PARTY shall abandon (or otherwise cease or delay performance of) the CONTRACT AGREEMENT without the consent of the other PARTY. 7.2 In the event that the CONSORTIUM is in breach or default by Tenant in under this CONTRACT or there is a breach or default under the CONTRACT AGREEMENT with the CUSTOMER attributable to the performance of any termthe CONSORTIUM, 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, and such breach or default is not cured by Tenant or reasonable action to cure has not been initiated within ten thirty (1030) days after written notice thereof), or if proceedings are commenced against Tenant within the time period prescribed in the CONTRACT AGREEMENT, as the case may be, LLAG / XXX shall take over and complete the CONSORTIUM's SCOPE OF WORK, provided such completion is permissible under the CONTRACT AGREEMENT or by the CUSTOMER. Such decision shall be subject to PART 9 (Disputes) of this CONTRACT, but in any court event proceedings under a bankruptcy act or for PART 9 shall not prevent the appointment of a trustee or receiver implementation of the Tenant's propertysteps described herein In such event, 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 LLAG / XXX 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 automatically have the right to make alterations receive any and repairs all payment due to the premisesCONSORTIUM from the CUSTOMER and apply the proceeds thereof (i) to cover all expenses incurred by the other PARTY in taking over and completing (by subcontracting or otherwise) the CONSORTIUM's SCOPE OF WORK, and (ii) to establish a contingency fund to cover any and all outstanding warranties or other obligations of the CONSORTIUM in completing the CONSORTIUM's SCOPE OF WORK. Rentals received In addition, LLAG / XXX (i) shall have the exclusive use and possession of all the CONSORTIUM's equipment, temporary works, materials and all other things used or supplied by Landlord the CONSORTIUM in connection with the PROJECT, at the site of the PROJECT and (ii) shall have a preferred lien on all such equipment, temporary works, materials and all other things used or supplied by the CONSORTIUM in connection with the PROJECT at the site of the PROJECT in order to satisfy any expenses incurred by LLAG / XXX in completing the CONSORTIUM's SCOPE OF WORK. 7.3 In the event of a breach or default as describe above, the CONSORTIUM agrees to indemnify, defend and hold LLAG / XXX harmless from any and all liability (including but not limited to liquidated damages, fines or penalties of whatever nature and to excess COSTS and expenses associated with the CONSORTIUM's SCOPE OF WORK) incurred by the LLAG/ XXX as a result of such reletting shall be applied as follows:breach or default.