Common use of DEFAULT BY XXXXXX Clause in Contracts

DEFAULT BY XXXXXX. In the event of any default by Xxxxxx, Owner shall give to Marina written notice of such default, specifying the nature of the default. Xxxxxx shall have 10 days within which to cure such default. If Xxxxxx timely fails to cure such default, then Owner shall have the right, by giving written notice to Xxxxxx, to terminate this Agreement, with such termination begin effective as of the final day of the month on which such notice of termination is given. Owner’s right to terminate shall be Owner’s sole remedy under this Agreement in the event of such a Marina default, and Xxxxxx shall not on any account be liable in money damages (including without limitation for any attorneys’ fees or costs of court) to Owner. Notwithstanding the foregoing, Owner shall have no right to give Xxxxxx any notice of default, and shall have no right to terminate this Agreement before the expiration of its stated Term, at any time that Owner has any Monthly Rental due to Marina, or is otherwise in default of any of Owner’s other obligations under this Agreement.

DEFAULT BY XXXXXX. In the event of any default by Xxxxxx, Owner shall give to Marina written notice of such default, specifying the nature of the default. Xxxxxx shall have 10 days within which to cure such default. If Xxxxxx timely fails to cure such default, then Owner shall have the right, by giving written notice to Xxxxxx, to terminate this Agreement, with such termination begin effective as of the final day of the month on which such notice of termination is given. Owner’s right to terminate shall be Owner’s sole remedy under this Agreement in the event of such a Marina default, and Xxxxxx shall not on any account be liable in money damages (including without limitation for any attorneys’ fees or costs of court) to Owner. Notwithstanding the foregoing, Owner shall have no right to give Xxxxxx Marina any notice of default, and shall have no right to terminate this Agreement before the expiration of its stated Term, at any time that Owner has any Monthly Rental due to Marina, or is otherwise in default of any of Owner’s other obligations under this Agreement.