Concessionaire’s Default; Definition. Each of the following shall, unless cured by Concessionaire within any applicable cure period set forth in Section 20.2 below, be an event of default (“Default”) under this Agreement: (a) if Concessionaire violates, breaches, or fails to keep or perform any term, provision, covenant, or any obligation of this Agreement; (b) if Concessionaire abandons, deserts, vacates, or otherwise removes its operations from the Premises without the Superintendent’s prior consent; or (c) if Concessionaire files or is the subject of a petition in bankruptcy, or if a trustee or receiver is appointed for Concessionaire’s assets or if Concessionaire makes an assignment for the benefit of creditors, or if Concessionaire is adjudicated insolvent, or becomes subject to any proceeding under any bankruptcy or insolvency law whether domestic or foreign, or liquidated, voluntarily or otherwise..
Concessionaire’s Default; Definition. Each of the following shall be an event of default (“Default”) under this Agreement: (a) if Concessionaire violates, breaches, or fails to keep or perform any term, provision, covenant, or any obligation of this Agreement; (b) if Concessionaire abandons, deserts, vacates, or otherwise removes its operations from the Premises without the Superintendent’s prior consent; or (c) if Concessionaire files or is the subject of a petition in bankruptcy, or if a trustee or receiver is appointed for Concessionaire’s assets or if Concessionaire makes an assignment for the benefit of creditors, or if Concessionaire is adjudicated insolvent, or becomes subject to any proceeding under any bankruptcy or insolvency law whether domestic or foreign, or liquidated, voluntarily or otherwise.
