Common use of Default by Exhibitor Clause in Contracts

Default by Exhibitor. Default by Exhibitor is defined as; (a) Failure to pay any sums due Management within seven (7) days of due date; (b) Exhibitor files a petition for adjudication as a bankrupt, for reorganization, or for an arrangement under any bankruptcy or insolvency law, or if any involuntary petition under any such law is filed against Exhibitor and not dismissed within sixty (60) days, or Exhibitor shall make an assignment of its properties for the benefit of creditors; (c) Exhibitor fails to comply with the express terms and conditions of this Agreement, including failure to comply with the Show Rules, and such failure is not corrected within seven (7) days fol- lowing notice of such failure, unless Exhibitor’s failure to comply occurs during the dates that the hours of exhibit are identified in paragraph 2.1 of this Agreement. In the event that Exhibitor fails to comply with the express terms and conditions of this Agreement during and on the dates of the hours of exhibit as specified in paragraph 2.1 of this Agreement, including the Show Rules, and such default is not cured within one (1) hour from the time of delivery of notice to Exhibitor in person or posting at Exhibitor’s display, Management shall have the right to terminate this Agreement, which termination shall be effective immediately. Exhibitor shall immediately vacate the space and remove its display and property from the Expo Center. In the event that Exhibitor does not vacate and/or remove all of its property with due diligence and expeditiously, Management has the right to cause the immediate removal of Exhibitor and/or its property. Management has the further right to store Exhibitor’s property and Exhibitor agrees to pay Management all costs of removal and storage, plus an additional (15%) of the cost of removal, storage and any other reasonable expense incurred by Management in effectuating the removal of Exhibitor and/or its property. Management shall not be liable to nor shall Exhibitor be entitled to any credit for unused space rental; (d) With respect to any failure to act or act which is an act of “default” as defined in this Agreement and if any act of default cannot reasonably be cured within the time provided by this Agreement and if reasonable efforts to cure such default are commenced within said period of time and are pursued with due diligence to a conclusion, there shall be no right to terminate this Agreement except as provided in (c) above.