Common use of Cancellation by Owner Clause in Contracts

Cancellation by Owner. In the event of any default or failure by Gentor to comply with any of the covenants, terms or conditions of this Agreement, Owner shall be entitled to give Gentor written notice of the default, specifying details of the same. If such default is not remedied within sixty (60) days after receipt of said notice, provided the same can reasonably be done within that time, or, if not, if Gentor has not within that time commenced action to cure the same or does not after such commencement diligently prosecute such action to completion, then this Agreement shall be deemed canceled and terminated effective on the sixtieth (60th) day after the Gentor' receipt of said notice. In the case of Gentor' failure to pay the minimum payments due hereunder, Owner shall be entitled to give Gentor written notice of the default, and if such default is not remedied within twenty (20) days after the receipt of said notice, then this Agreement shall be deemed canceled and terminated effective on the twentieth (20th) day after Gentor' receipt of said notice. No such cancellation, however, shall be based on a default hereunder or on a failure to remedy the same, when resulting from any cause beyond the reasonable control of Gentor, including, without limitation, the force majeure provisions herein.

Cancellation by Owner. In the event of any default or failure by Gentor Lessee to comply with any of the covenants, terms or conditions of this Agreement, Owner shall be entitled required to give Gentor Lessee written notice of the default, specifying details of the same. If such default is not remedied within sixty ninety (6090) days after receipt of said notice, provided the same can reasonably be done within that time, or, if not, if Gentor Lessee has not within that time commenced action to cure the same or does not after such commencement diligently prosecute such action to completion, then this Agreement shall be deemed canceled and terminated effective on the sixtieth ninetieth (60th90th) day after the Gentor' Lessee’s receipt of said notice. In the case of Gentor' Lessee’s failure to pay the minimum payments due hereunder, Owner shall be entitled required to give Gentor Lessee written notice of the default, and if such default is not remedied within twenty sixty (2060) days after the receipt of said notice, then this Agreement shall be deemed canceled and terminated effective on the twentieth sixtieth (20th60th) day after Gentor' Lessee’s receipt of said notice. No such cancellation, however, shall be based on a default hereunder or on a failure to remedy the same, when resulting from any cause beyond the reasonable control of GentorLessee, including, without limitation, the force majeure provisions herein.

Cancellation by Owner. In the event of any default or failure by Gentor Lessee to comply with any of the covenants, terms or conditions of this Agreement, Owner shall be entitled required to give Gentor Lessee written notice of the default, specifying details of the same. If such default is not remedied within sixty (60) days after receipt of said notice, provided the same can reasonably be done within that time, or, if not, if Gentor Lessee has not within that time commenced action to cure the same or does not after such commencement diligently prosecute such action to completion, then this Agreement shall be deemed canceled and terminated effective on the sixtieth (60th) day after the Gentor' Lessee's receipt of said notice. In the case of Gentor' Lessee's failure to pay the minimum payments due hereunder, Owner shall be entitled required to give Gentor Lessee written notice of the default, and if such default is not remedied within twenty (20) days after the receipt of said notice, then this Agreement shall be deemed canceled and terminated effective on the twentieth (20th) day after Gentor' Lessee's receipt of said notice. No such cancellation, however, shall be based on a default hereunder or on a failure to remedy the same, when resulting from any cause beyond the reasonable control of GentorLessee, including, without limitation, the force majeure provisions herein.