City Remedies in the Event of Concessionaire’s Default Sample Clauses

City Remedies in the Event of Concessionaire’s Default. If Concessionaire Defaults and such Default continues or has not been remedied to the Superintendent’s reasonable satisfaction within thirty (30) days after written notice of Default has been provided to Concessionaire, then City shall have the nonexclusive rights and remedies that follow: (i) to cure the Default on Concessionaire’s behalf and at Concessionaire’s sole expense and to charge Concessionaire for all actual and reasonable costs and expenses incurred by City in effecting such cure as an additional charge; (ii) to terminate this Agreement by written notice to Concessionaire; and (iii) to re-enter said Xxxxxxxx and take possession thereof without liability to Concessionaire of any kind. Notwithstanding the foregoing, for any Default other than monetary Default, failure to maintain required insurance, or vacation or abandonment of the Premises, if the nature of Concessionaire’s Default is such that more than thirty (30) days is required for remedy, then Concessionaire shall not be in Default if it commences the remedy within such thirty (30) day period and thereafter diligently prosecutes the same to completion. Concessionaire shall be liable and shall reimburse the City upon demand for all actual and reasonable costs and expenses of every kind and nature incurred in retaking possession of the Premises. If the City retakes the Premises, the City shall have the right, but not the obligation, to remove therefrom all or any part of the personal property located thereon and may exercise City’s rights under Section 21. City’s remedies under this Section 20.2 are cumulative and City does not waive its right to any remedy allowed at law or equity.
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Related to City Remedies in the Event of Concessionaire’s Default

  • EVENT OF DEFAULT/REMEDIES 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

  • Default Remedies A "Default" shall exist if any of the following ----------------- occurs and is not remedied (i) in the case of events described in clause (a) below, within 15 days after notice from the Lender to the Company thereof, and (ii) in the case of events described in clauses (b) through (h) below or elsewhere in this Agreement, within 30 days after notice from the Lender to the Company thereof: (a) failure of the Company punctually to make any payment of any amount payable under the Note, whether at maturity, or at a date fixed for any prepayment or partial prepayment, or by acceleration, or otherwise; (b) any statement, representation, or warranty of the Company made in this Agreement shall be false or misleading in any material respect as of the date made; (c) failure of the Company punctually and fully to comply with any of its covenants in this Agreement; (d) if the Company becomes insolvent as defined in the Georgia Uniform Commercial Code or makes an assignment for the benefit of creditors; or if any action is brought by the Company seeking dissolution of the Company or liquidation of its assets or seeking the appointment of a trustee, interim trustee, receiver, or other custodian for any of its property; or if the Company commences a voluntary case under the Federal Bankruptcy Code; or if any reorganization or arrangement proceeding is instituted by the Company for the settlement, readjustment, composition or extension of any of its debts upon any terms; or if any action or petition is otherwise brought by the Company seeking similar relief or alleging that it is insolvent or unable to pay its debts as they mature; (e) the Company is in default on indebtedness to another person, the amount of such indebtedness exceeds $250,000 and the acceleration of the maturity of such indebtedness would have a material adverse effect upon the Company; or (f) a sale of all or substantially all of the assets of the Company unless waived in writing by the Lender. Upon the occurrence of a Default, the Lender shall be entitled to declare any of the amounts owed by the Company under the Note due and payable, whereupon they immediately will become due and payable without presentment, demand, notice or protest of any kind (all of which are expressly waived by the Company).

  • Events of Default Remedies If any of the following events (“Events of Default”) shall occur:

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