Common use of DEFAULT, REMEDIES, AND TERMINATION RIGHTS Clause in Contracts

DEFAULT, REMEDIES, AND TERMINATION RIGHTS. Section 14.01 Events of Default Tenant will be deemed to be in default of this Lease upon the occurrence of any of the following: A. The failure or omission by Tenant to perform its obligations under this Lease or the breach of any terms, conditions and covenants required herein. B. The failure to pay, in full, to County within five (5) days of when due any fees, costs, expenses damages, or other charges applicable hereunder except where such failure is cured within ten (10) days after written notice by County of Tenant’s failure to pay. C. Tenant’s default under any other agreement with County at the Airport. D. The appointment of a Trustee, custodian, or receiver of all or a substantial portion of Tenant’s assets. E. The divestiture of Tenant’s estate herein by operation of law, by dissolution, or by liquidation, not including a merger or sale of assets. F. The insolvency of Tenant; or if Tenant will take the benefit of any present or future insolvency statute, will make a general assignment for the benefit of creditors, or will seek a reorganization or the readjustment of its indebtedness under any law or statute of the United States or of any state thereof including the filing by Tenant of a voluntary petition of bankruptcy or the institution of proceedings against Tenant for the adjudication of Tenant as bankrupt pursuant thereto. G. Tenant’s cancellation of its Surety without County’s prior written consent and does not reestablish it promptly after written notice by County. H. An assignment, sublease, or transfers of Tenant’s interest under this Lease by reason of death, operation of law, assignment, sublease, sale in bulk of any of its assets, or otherwise to any other person or business entity other than in compliance with the provisions of this Lease. I. If Tenant abandons, deserts, vacates, or ceases operations under this Lease for five (5) consecutive business days, unless undergoing repairs or renovations which have first been approved by County. J. Tenant’s failure to maintain any type of insurance or level of insurance coverage required hereunder (and in the event Tenant has failed to remedy such failure within ten (10) days after notice thereof from County, County may affect such coverage and recover the cost thereof immediately from the Surety or from Tenant). K. Any lien or attachment to be filed against the Leased Premises, the Airport, or other County property because of any act or omission of Tenant, and such lien or attachment is not discharged or contested by Tenant in good faith by proper legal proceedings within fifteen

DEFAULT, REMEDIES, AND TERMINATION RIGHTS. Section 14.01 Events of Default Tenant will be deemed to be in default of this Lease upon the occurrence of any of the following: A. The failure or omission by Tenant to perform its obligations under this Lease or the breach of any terms, conditions and covenants required herein. B. The failure to pay, in full, to County within five (5) days of when due any fees, costs, expenses damages, or other charges applicable hereunder except where such failure is cured within ten (10) days after written notice by County of Tenant’s failure to pay. C. Tenant’s default under any other agreement with County at the Airport. D. The appointment of a Trustee, custodian, or receiver of all or a substantial portion of Tenant’s assets. E. The divestiture of Tenant’s estate herein by operation of law, by dissolution, or by liquidation, not including a merger or sale of assets. F. The insolvency of Tenant; or if Tenant will take the benefit of any present or future insolvency statute, will make a general assignment for the benefit of creditors, or will seek a reorganization or the readjustment of its indebtedness under any law or statute of the United States or of any state thereof including the filing by Tenant of a voluntary petition of bankruptcy or the institution of proceedings against Tenant for the adjudication of Tenant as bankrupt pursuant thereto. G. Tenant’s cancellation of its Surety without County’s prior written consent and does not reestablish it promptly after written notice by County. H. An assignment, sublease, or transfers of Tenant’s interest under this Lease by reason of death, operation of law, assignment, sublease, sale in bulk of any of its assets, or otherwise DocuSign Envelope ID: 3D69B7F0-C0A2-48D7-BAEA-EC290E626401 to any other person or business entity other than in compliance with the provisions of this Lease. I. If Tenant abandons, deserts, vacates, or ceases operations under this Lease for five (5) consecutive business days, unless undergoing repairs or renovations which have first been approved by County. J. Tenant’s failure to maintain any type of insurance or level of insurance coverage required hereunder (and in the event Tenant has failed to remedy such failure within ten (10) days after notice thereof from County, County may affect such coverage and recover the cost thereof immediately from the Surety or from Tenant). K. Any lien or attachment to be filed against the Leased Premises, the Airport, or other County property because of any act or omission of Tenant, and such lien or attachment is not discharged or contested by Tenant in good faith by proper legal proceedings within fifteen

DEFAULT, REMEDIES, AND TERMINATION RIGHTS. Section 14.01 Events of Default Tenant ‌ SECTION 12.01 EVENTS OF DEFAULT‌ Concessionaire will be deemed to be in default of this Lease Agreement upon the occurrence of any of the following: A. 1. The failure or omission by Tenant Concessionaire to perform its obligations under this Lease Agreement or the breach of any terms, conditions and covenants required herein. B. 2. The failure to pay, in full, to County City within five (5) days of when due any fees, costs, expenses damages, or other charges applicable hereunder except where such failure is cured within ten (10) days after written notice by County City of TenantConcessionaire’s failure to pay. C. Tenant3. Concessionaire’s default under any other agreement with County City at the Airport. D. 4. The appointment of a Trustee, custodian, or receiver of all or a substantial portion of TenantConcessionaire’s assets. E. 5. The divestiture of TenantConcessionaire’s estate herein by operation of law, by dissolution, or by liquidation, not including a merger or sale of assets. F. 6. The insolvency of TenantConcessionaire; or if Tenant Concessionaire will take the benefit of any present or future insolvency statute, will make a general assignment for the benefit of creditors, or will seek a reorganization or the readjustment of its indebtedness under any law or statute of the United States or of any state thereof including the filing by Tenant Concessionaire of a voluntary petition of bankruptcy or the institution of proceedings against Tenant Concessionaire for the adjudication of Tenant Concessionaire as bankrupt pursuant thereto. G. Tenant7. Concessionaire’s cancellation of its Surety without CountyCity’s prior written consent and does not reestablish it promptly after written notice by CountyCity. H. 8. An assignment, sublease, or transfers of TenantConcessionaire’s interest under this Lease Agreement by reason of death, operation of law, assignment, sublease, sale in bulk of any of its assets, or otherwise to any other person or business entity other than in compliance with the provisions of this LeaseAgreement. I. 9. If Tenant Concessionaire abandons, deserts, vacates, or ceases operations under this Lease Agreement for five (5) consecutive business days, unless undergoing repairs or renovations which have first been approved by CountyCity. J. Tenant10. Concessionaire’s failure to maintain any type of insurance or level of insurance coverage required hereunder (and in the event Tenant Concessionaire has failed to remedy such failure within ten (10) days after notice thereof from CountyCity, County City may affect such coverage and recover the cost thereof immediately from the Surety or from TenantConcessionaire). K. 11. Any lien or attachment to be filed against the Leased Premises, the Airport, or other County City property because of any act or omission of TenantConcessionaire, and such lien or attachment is not discharged or contested by Tenant Concessionaire in good faith by proper legal proceedings within fifteenfifteen (15) days after receipt of notice thereof by Concessionaire. 12. Concessionaire use, permission to use, or failure to promptly prevent use of any portion of the Airport made available to Concessionaire for its use under this Agreement for any illegal purpose. 13. Concessionaire’s license or franchise agreement related to the Concession it is authorized to operate at the Airport is terminated, expires, or is amended so that compliance with the amended provisions will cause Concessionaire to be in breach of its obligations under this Agreement. 14. Concessionaire’s failure to pay any fees or charges required hereunder after the expiration of the (10) day cure period as proscribed hereunder. 15. The conduct of any business or performance of any acts at the Airport not specifically authorized in this Agreement or by any other agreement between City and Concessionaire, and Concessionaire’s failure to discontinue that business or those acts within thirty (30) days of receipt by Concessionaire of City’s written notice to cease said business or acts (which thirty [30] day notice and remedy period shall also satisfy the notice requirement of Section 12.02 below). Nothing in this Section 12.01 shall be construed to grant a right to Concessionaire to cure a default, which by its nature is not capable of being cured. City reserves the right, in its sole discretion, to treat each Concessions Location individually for the purpose of declaring defaults and exercising remedies under this Agreement.

DEFAULT, REMEDIES, AND TERMINATION RIGHTS. Section 14.01 Events of Default Tenant will be deemed to be in default of this Lease upon the occurrence of any of the following: A. The failure or omission by Tenant to perform its obligations under this Lease or the breach of any terms, conditions and covenants required herein. B. The failure to pay, in full, to County within five (5) days of when due any fees, costs, expenses damages, or other charges applicable hereunder except where such failure is cured within ten (10) days after written notice by County of Tenant’s failure to pay. C. Tenant’s default under any other agreement with County at the Airport. D. The appointment of a Trustee, custodian, or receiver of all or a substantial portion of Tenant’s assets. E. The divestiture of Tenant’s estate herein by operation of law, by dissolution, or by liquidation, not including a merger or sale of assets. F. The insolvency of Tenant; or if Tenant will take the benefit of any present or future insolvency statute, will make a general assignment for the benefit of creditors, or will seek a reorganization or the readjustment of its indebtedness under any law or statute of the United States or of any state thereof including the filing by Tenant of a voluntary petition of bankruptcy or the institution of proceedings against Tenant for the adjudication of Tenant as bankrupt pursuant thereto. G. Tenant’s cancellation of its Surety without County’s prior written consent and does not reestablish it promptly after written notice by County. H. An assignment, sublease, or transfers of Tenant’s interest under this Lease by reason of death, operation of law, assignment, sublease, sale in bulk of any of its assets, or otherwise DocuSign Envelope ID: C3FE23DB-91BD-434E-8B72-DA0A11B2473D to any other person or business entity other than in compliance with the provisions of this Lease. I. If Tenant abandons, deserts, vacates, or ceases operations under this Lease for five (5) consecutive business days, unless undergoing repairs or renovations which have first been approved by County. J. Tenant’s failure to maintain any type of insurance or level of insurance coverage required hereunder (and in the event Tenant has failed to remedy such failure within ten (10) days after notice thereof from County, County may affect such coverage and recover the cost thereof immediately from the Surety or from Tenant). K. Any lien or attachment to be filed against the Leased Premises, the Airport, or other County property because of any act or omission of Tenant, and such lien or attachment is not discharged or contested by Tenant in good faith by proper legal proceedings within fifteen