Expiration or Termination. A. Owner shall have the right, upon thirty (30) days prior written notice to Operator, to terminate this Agreement in its entirety, upon or after the happening of one or more of the following events, if said event or events shall then be continuing: (i) If Operator shall make a general assignment for the benefit of creditors; or (ii) If Operator shall file a voluntary petition in bankruptcy or a petition seeking their reorganization or the readjustment of their indebtedness under the Federal Bankruptcy laws or under similar State laws; or (iii) If an involuntary petition in bankruptcy shall be filed against Operator and Operator is thereafter adjudicated a bankruptcy thereunder; or (iv) If Operator shall consent to the appointment of a receiver, trustee, or liquidator of all or substantially all of the property of Operator; or (v) If Operator shall fail to pay the SASO Fee or other money payments required by this Agreement and such failure shall not be remedied within thirty (30) days following receipt by Operator of written demand from Owner; or (vii) If Operator shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by them hereunder and shall fail to commence with due diligence the remedying of said default within thirty (30) days following receipt by Operator of written demand from Owner to do so. B. Operator shall have the right, after thirty (30) days written notice to Owner, to terminate or suspend this Agreement upon the happening of one or more of the following events, if said event or events shall then be continuing: (i) The issuance by any court of competent jurisdiction of an injunction, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for a period of at least ninety (90) consecutive days. (ii) If Owner shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by it under this Agreement and shall fail to cure said default within thirty (30) days following receipt of written demand from Operator to do so; or (iii) If all or a mutual part of the Airport or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts of God or the public enemy; (iv) If the United States Government or any of its agencies shall occupy the Airport or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for a period of thirty
Appears in 3 contracts
Samples: Specialized Aviation Service Operating Rights Agreement, Specialized Aviation Service Operating Rights Agreement, Specialized Aviation Service Operating Rights Agreement
Expiration or Termination. A. (a) This Agreement will expire on the earlier of (i) the completion of the Work or (ii) the date that the Acquisition Agreement terminates or expires, but in no case (notwithstanding Section 2.18 hereof) shall this Agreement extend beyond October 30, 1998.
(b) In the event Owner determines that Contractor has not complied with any obligation hereunder, Owner shall notify Contractor in writing setting out specifically in what respect it is claimed that Contractor has failed to comply with this Agreement. If the alleged failure is not cured to Owner's reasonable satisfaction within ten (10) days after written notice is given, or if Contractor has not within that time either commenced to cure the alleged breach to the Owner's reasonable satisfaction and does not thereafter diligently complete such cure, or fails successfully to challenge the legitimacy of the allegation, Owner may terminate this Agreement by delivering to contractor notice of such termination or Owner may seek such other remedies as it might have in equity or at law.
(c) Contractor shall have the right, upon thirty (30) days prior written notice to Operator, right to terminate this Agreement in its entirety, upon or after the happening of one or more of the following events, if said event or events shall then be continuing:
(i) If Operator shall make a general assignment for the benefit of creditors; or
(ii) If Operator shall file a voluntary petition in bankruptcy or a petition seeking their reorganization or the readjustment of their indebtedness under the Federal Bankruptcy laws or under similar State laws; or
(iii) If an involuntary petition in bankruptcy shall be filed against Operator and Operator is thereafter adjudicated a bankruptcy thereunder; or
(iv) If Operator shall consent at any time with respect to the appointment of a receiver, trustee, or liquidator of all or substantially but not less than all of the property of Operator; or
(v) If Operator shall fail to pay the SASO Fee or other money payments required Work by this Agreement and such failure shall not be remedied within thirty (30) days following receipt by Operator of written demand from Owner; or
(vii) If Operator shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by them hereunder and shall fail to commence with due diligence the remedying of said default within thirty (30) days following receipt by Operator of written demand from Owner to do so.
B. Operator shall have the right, after thirty (30) days giving written notice to Owner. Upon such termination, to terminate or suspend all right, title, and interest of Contractor under this Agreement upon shall terminate and Contractor shall be relieved of all further obligations set forth in this Agreement which arise out of Contractor's activities prior to the happening date of one such termination except for the obligations to correct defective work in Sections 2.9 and 2.10, the indemnifications provided for in Section 2.11, any other obligation expressly set forth in this Agreement as a post-expiration or more post-termination obligation, and any reclamation required by applicable law arising from Contractor's operations.
(d) Upon termination or expiration of this Agreement, Contractor will relinquish all occupancy of the following eventsSweetwater Mill, if said event free and clear of all obligations, liens and encumbrances. Contractor will also relinquish possession of all buildings, structures, facilities, improvements, machinery and equipment that were acquired by, erected, placed, or events shall then be continuing:became situated at the Sweetwater Mill in connection with the Work and were paid for pursuant to this Agreement (collectively, "Fixtures and Personalty"). In connection with the relinquishment of the Fixtures and Personalty, Contractor will provide appropriate assignments and bills of sale with respect to the Fixtures and Personalty in which Contractor will represent that the Fixtures and Personalty are free and clear of all obligations, liens or encumbrances created by, through or under Contractor. EXHIBIT 10.52
(ie) The issuance by any court of competent jurisdiction of an injunctionContractor shall, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for within a period of at least ninety (90) consecutive days.
(ii) three months from and after the termination of this Agreement, remove from the Sweetwater Mill all personal property that is owned solely by Contractor. If Owner shall default in fulfilling Contractor desires not to remove any of the terms, covenants or conditions to be fulfilled by it under this Agreement and shall fail to cure said default within thirty (30) days following receipt of written demand from Operator to do so; or
(iii) If all or a mutual part of the Airport or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts of God or the public enemy;
(iv) If the United States Government or any item of its agencies personal property and Owner agrees in writing to allow such property to remain at the Sweetwater Mill, such property shall occupy become the Airport or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for a period property of thirtyOwner.
Appears in 2 contracts
Samples: Services Agreement (Crested Corp), Services Agreement (Us Energy Corp)
Expiration or Termination. A. Owner A) Lessee shall have notify Lessor in writing, either one hundred twenty (120) days prior to the rightexpiration of the Initial Term of any Schedule hereto or one hundred twenty (120) days prior to the date of which Lessee may exercise any right of early termination, if any, expressly set forth in any Schedule hereto, of Lessee's desire to continue this Agreement or of Lessee's intention to exercise its early termination rights, only if expressly provided for hereunder or in an applicable Schedule, with respect to any Schedule to this Agreement.
B) Upon the expiration of this Agreement with respect to Cars on any Schedule, Lessee shall surrender possession of such Cars to Lessor pursuant to the early termination or expiration provisions in this Section and on the relevant Schedule, and Lessee shall ensure that each Car returned to Lessor upon the expiration or termination of the Agreement is delivered to Lessor: (i) in a condition required by Section 6 of this Agreement, (ii) in interchange condition in accordance with AAR and FRA rules and regulations, (iii) in a condition suitable for loading of the commodities intended to be loaded in such Cars or commodities allowed in the applicable Schedule, (iv) free from all accumulations or deposits from commodities transported in or on it while in the service of Lessee, and (v) free of any and all AAR Rule 95, as amended, damage.
C) Until the Cars are delivered to and accepted by Lessor pursuant to this Section, Lessee shall continue to be liable for and shall pay all rental at the rate being paid immediately prior to the expiration provided; however, if Lessor requests the return of the Cars and Lessee fails to return any Cars in its possession within sixty (60) days of such notification, Lessor, at its option, may increase without notice to Lessee the rate Lessee is required to pay to one hundred twenty-five percent (125%) of the rate being paid immediately prior to expiration, increasing after an additional thirty (30) days by an additional twenty-five percent (25%) of the rate being paid immediately prior written notice to Operatorexpiration, to terminate and Lessee shall in addition make all other payments and keep all obligations and undertakings required of Lessee under any and all provisions of this Agreement as though such expiration had not occurred. Nothing in its entiretythis Section shall give Lessee the right to retain possession of any Car after expiration or termination of this Agreement with respect to such Car.
D) Lessee shall bear the costs associated with remarking each Car's roadmark and number, upon which remarking shall be performed at the closest facility to the return or after storage location which is mutually agreeable to by Lessor and Lessee. Remarking shall include the happening of one or more of the following events, if said event or events shall then be continuing:
following: (i) If Operator shall make a general assignment for the benefit removal of creditorsexisting mandatory markings and all company logos of Lessee; or
(ii) If Operator shall file a voluntary petition in bankruptcy or a petition seeking their reorganization or complete cleaning of the readjustment of their indebtedness under the Federal Bankruptcy laws or under similar State lawsarea where new marks are to be placed as designated by Lessor; or
(iii) If an involuntary petition in bankruptcy shall be filed against Operator application of new mandatory markings designated by Lessor; and Operator is thereafter adjudicated a bankruptcy thereunder; or
(iv) If Operator shall consent any transportation involved in moving each Car to and from a suitable work area to perform the remarking set forth in this Section.
E) Notwithstanding expiration of the term of this Agreement or any Schedule, Lessee's obligations under the terms of this Agreement as to damage to the appointment of a receiver, trustee, or liquidator of all or substantially all Cars shall continue to be Lessee's responsibility and such damage shall be repaired at Lessee's sole expense prior to the return of the property of OperatorCars to Lessor; or
(v) If Operator shall fail to pay the SASO Fee or other money payments required by this Agreement and Lessor may conduct such failure shall not be remedied within thirty (30) days following receipt by Operator of written demand from Owner; or
(vii) If Operator shall default in fulfilling any testing of the termsCars, covenants or conditions to be fulfilled by them hereunder and shall fail to commence with due diligence the remedying of said default within thirty (30) days following receipt by Operator of written demand from Owner to do so.
B. Operator shall have the right, after thirty (30) days written notice to Ownerat Lessor's expense, to terminate or suspend this Agreement upon ensure that the happening of one or more of the following events, if said event or events shall then be continuing:
(i) The issuance by any court of competent jurisdiction of an injunction, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for a period of at least ninety (90) consecutive daysCars are free from such damage.
(ii) If Owner shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by it under this Agreement and shall fail to cure said default within thirty (30) days following receipt of written demand from Operator to do so; or
(iii) If all or a mutual part of the Airport or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts of God or the public enemy;
(iv) If the United States Government or any of its agencies shall occupy the Airport or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for a period of thirty
Appears in 1 contract
Expiration or Termination. A. Owner Lessor shall have the right, upon thirty sixty (3060) days prior written notice to OperatorLessee, to terminate this Agreement in its entirety, upon or after the happening of one or more of the following events, if said event or events shall then be continuing:
(i) i. If Operator Lessee shall make a general assignment for the benefit of creditors; or
(ii) . If Operator Lessee shall file a voluntary voluntarily petition in bankruptcy or a petition seeking their reorganization or of the readjustment of their indebtedness under the Federal Bankruptcy laws or under any similar State laws; or
(iii) . If an involuntary petition in bankruptcy shall be filed against Operator Lessee and Operator Lessee is thereafter adjudicated a bankruptcy bankrupt thereunder; or
(iv) . If Operator Lessee shall consent to the appointment of a receiver, trustee, or liquidator of all or substantially all of the property of OperatorLessee; or
v. If Lessee shall cease operating the premises as a restaurant for a period of three (v3) days or more consecutively unless approved by the City pursuant to Article V.A.i.; or
vi. If Operator Lessee shall fail to pay the SASO Fee rental charges or other money payments required by this Agreement and such failure shall not be remedied within thirty (30) business days following receipt by Operator Lessee of written demand from OwnerLessor to do so; or
(vii) . If Operator shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by them hereunder and shall fail to commence with due diligence the remedying of said default within thirty (30) days following receipt by Operator of written demand from Owner to do so.
B. Operator shall have the right, after thirty (30) days written notice to Owner, to terminate or suspend this Agreement upon the happening of one or more of the following events, if said event or events shall then be continuing:
(i) The issuance by any court of competent jurisdiction of an injunction, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for a period of at least ninety (90) consecutive days.
(ii) If Owner Lessee shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by it hereunder or under this Agreement any other agreement between Lessor and shall fail Lessee, Lessor may send a written notice to the Lessee that describes such breach in sufficient detail to permit the Lessor to cure said default within thirty such breach (30) days following receipt if capable of written demand from Operator to do so; or
(iii) If all or a mutual part of the Airport or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts of God or the public enemy;
(iv) If the United States Government or any of its agencies shall occupy the Airport or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for cure). The Lessee will have a period of thirty30 days to cure such breach (if capable of cure). If the breach has been timely cured, the notice of termination will be deemed null and void. If the breach has not been timely cured (or if the breach is incapable of cure), the Lessor will have the right to terminate the Agreement by providing written notice as set forth in this Article.
B. In the event of any cancellation or termination of this Agreement by Lessor for any of
Appears in 1 contract
Samples: Lease and Operating Rights Agreement
Expiration or Termination. A. Owner shall have the right, upon thirty (30) days prior written notice to Operator, to terminate this Agreement in its entirety, upon or after the happening of one or more of the following events, if said event or events shall then be continuing:
(i) If Operator shall make a general assignment for the benefit of creditors; or
(ii) If Operator shall file a voluntary petition in bankruptcy or a petition seeking their reorganization or the readjustment of their indebtedness under the Federal Bankruptcy laws or under similar State laws; or
(iii) If an involuntary petition in bankruptcy shall be filed against Operator and Operator is thereafter adjudicated a bankruptcy thereunder; or
(iv) If Operator shall consent to the appointment of a receiver, trustee, or liquidator of all or substantially all of the property of Operator; or
(v) If Operator shall fail to pay the SASO Fee or other money payments required by this Agreement and such failure shall not be remedied within thirty (30) days following receipt by Operator of written demand from Owner; or
(vii) If Operator shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by them hereunder and shall fail to commence with due diligence the remedying of said default within thirty (30) days following receipt by Operator of written demand from Owner to do so.
B. Operator shall have the right, after thirty (30) days written notice to Owner, to terminate or suspend this Agreement upon the happening of one or more of the following events, if said event or events shall then be continuing:
(i) The issuance by any court of competent jurisdiction of an injunction, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for a period of at least ninety (90) consecutive days.
(ii) If Owner shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by it under this Agreement and shall fail to cure said default within thirty (30) days following receipt of written demand from Operator to do so; or
(iii) If all or a mutual part of the Airport or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts of God or the public enemy;
(iv) If the United States Government or any of its agencies shall occupy the Airport or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for a period of thirtythirty (30) consecutive days or more; or
(v) The Operator ceases business operations, in which case the Operator will not be liable for the annual SASO fees remaining in the contract term
Appears in 1 contract
Samples: Airport Operating Rights Agreement
Expiration or Termination. A. Owner shall have 7.1 In the rightevent that the Co-operator has, throughout the Term of this Agreement, substantially complied with his/her obligations under this Agreement, and there exists no special circumstances by which the Lessor may reasonably require use of the Site for the general benefit of the public or other park users, the Lessor will, offer to allow the Co-operator to continue to use the Site for such length of time and upon such terms, as the Lessor, in its normal business practice, is then offering with respect to sites in the Area in which this Site exists. The Co-operator understands it is the sole obligation of the Cooperator, not more than one (1) year nor less than thirty (30) days prior to the expiration of the term of this Agreement to notify the Lessor of the Co-operator's desire to continue to use the Site. The Co-operator further understands the Cooperator is not by this provision agreeing to allow continued use for any particular length of time, or use of the Site if it is not covered by a Head Agreement with SMRID at the relevant time.
7.2 The Lessor, upon serving written notice in person or by registered mail to Operator, to terminate this Agreement in its entirety, upon or after the happening of one or more last known address of the following eventsCo- operator, if said event or events shall then be continuing:
(i) If Operator shall make a general assignment for may require the benefit of creditors; or
(ii) If Operator shall file a voluntary petition in bankruptcy or a petition seeking their reorganization or Co-operator to vacate and remove any properties from the readjustment of their indebtedness under the Federal Bankruptcy laws or under similar State laws; or
(iii) If an involuntary petition in bankruptcy shall be filed against Operator and Operator is thereafter adjudicated a bankruptcy thereunder; or
(iv) If Operator shall consent to the appointment of a receiver, trustee, or liquidator of all or substantially all of the property of Operator; or
(v) If Operator shall fail to pay the SASO Fee or other money payments required by this Agreement and such failure shall not be remedied Site within thirty (30) calendar days following receipt by Operator of written demand from Owner; or
(vii) If Operator shall default in fulfilling any after expiration of the termsTerm of this Agreement or early termination of the Term of this Agreement arising out of any default by the Co-operator of his/her obligation under this Agreement. If all properties are not removed within the specified thirty (30) day period, covenants then entitlement to such property shall be forfeited to the Lessor and thereafter the Lessor may dispose of, or conditions use, such properties as its own property free of any claim by the Co-operator.
7.3 The Co-operator acknowledges and agrees that in the event that the 40 Mile Park Committee ceases to be fulfilled exist or ceases to operate the 40 Mile Park and the property is returned to the St. Xxxx Irrigation District (or its successor organization), the County of Forty Mile No. 8 may upon written notice to the Co-operator, either by them hereunder person or by registered mail to the last known address of the Co-operator, terminate the Term of this Agreement forthwith, and shall fail require the Co-operator to commence with due diligence vacate and remove any property from the remedying of said default Site within thirty (30) calendar days following receipt by Operator of written demand from Owner to do so.
B. Operator shall have the right, after thirty (30) days written notice to Owner, to terminate or suspend this Agreement upon the happening of one or more of the following events, if said event or events shall then be continuing:
(i) The issuance by any court of competent jurisdiction of an injunction, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for a period of at least ninety (90) consecutive daysNotice Date.
(ii) If Owner shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by it under this Agreement and shall fail to cure said default within thirty (30) days following receipt of written demand from Operator to do so; or
(iii) If all or a mutual part of the Airport or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts of God or the public enemy;
(iv) If the United States Government or any of its agencies shall occupy the Airport or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for a period of thirty
Appears in 1 contract
Samples: Sublease Agreement
Expiration or Termination. A. Owner Any and all equipment and materials on the Premises by Lessee shall be and remain the personal property of Xxxxxx and Xxxxxx shall remove said equipment and materials from the Premises immediately upon the termination of this Agreement, or any renewal thereof. Provided that:
1. In the event Lessee removes said equipment and materials from the Premises, Lessee shall restore the Premises to their original condition. If Xxxxxx fails to so restore said Premises within 90 days of the termination or expiration of this Lease Term (and Xxxxxx shall have a license during this 90-day period to enter upon the Premises for the completion of same), Lessor may so restore said Xxxxxxxx and charge Lessee for such expense, which expense Lessee agrees to assume and pay. Lessee shall continue to pay rent on a monthly basis until it completes such restoration.
2. In the event Lessee fails to remove said equipment and materials within 90 days of such termination or expiration as aforementioned, then said equipment and materials shall, subject to the interests of a permitted mortgagee, Lessor shall have the right, at its option, to remove said equipment and materials and to restore the leased Premises to good repair and safe condition as hereinbefore described and charge the expense thereof to Lessee, which expense Lessee agrees to assume and pay.
X. Xxxxxx shall have the right, upon thirty (30) days prior written notice to OperatorLessee, to terminate this Agreement in its entirety, upon or after the happening of one or more of the following events, if said event or events shall then be continuing:
(i) 1. If Operator Xxxxxx shall make a general assignment for the benefit of creditors; or
(ii) 2. If Operator Lessee shall file a voluntary petition in bankruptcy or a petition seeking their its reorganization or the readjustment of their its indebtedness under the Federal Bankruptcy laws or under any similar State state laws; or
(iii) 3. If an involuntary petition in bankruptcy shall be filed against Operator Lessee and Operator Xxxxxx is thereafter adjudicated a bankruptcy bankrupt thereunder; or
(iv) 4. If Operator Lessee shall consent to the appointment of a receiver, trustee, or liquidator of all or substantially all of the property of OperatorXxxxxx; or
(v) 5. If Operator Lessee shall fail to pay the SASO Fee rental charges or other money payments required by this Agreement instrument and such failure shall not be remedied within thirty (30) days following receipt by Operator Xxxxxx of written demand from OwnerLessor to do so; or
(vii) 6. If Operator shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by them hereunder and shall fail to commence with due diligence the remedying of said default within thirty (30) days following receipt by Operator of written demand from Owner to do so.
B. Operator shall have the right, after thirty (30) days written notice to Owner, to terminate or suspend this Agreement upon the happening of one or more of the following events, if said event or events shall then be continuing:
(i) The issuance by any court of competent jurisdiction of an injunction, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for a period of at least ninety (90) consecutive days.
(ii) If Owner Lessee shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by it under this Agreement lease and shall fail to cure or commence to cure said default within thirty (30) days following receipt of written demand from Operator Lessor to do so; or.
(iii) If all C. Lessee shall have the right to without Xxxxxx’s consent, to assign this Agreement or a mutual sublet the whole or any part of the Airport Premises. Lessee shall notify the Lessor in writing of all sublets and provide a copy of the agreement to the
D. Lessee shall have the right, upon thirty (30) days written notice to Lessor, to terminate or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts of God or the public enemy;
(iv) If the United States Government or any of its agencies shall occupy the Airport or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for a period of thirtysuspend this Agreement.
Appears in 1 contract
Samples: Land Lease Agreement
Expiration or Termination. A. Owner Any and all equipment and materials on the Premises by Lessee shall be and remain the personal property of Xxxxxx and Xxxxxx shall remove said equipment and materials from the Premises immediately upon the terminationof this Agreement, or any renewal thereof. Provided that:
a. When Xxxxxx removes said equipment and materials from thePremises, Lessee shall restore the Premises to their original condition, normal wear, tear and casualty excepted. If on the terminationor expiration date of this Lease Term, the Premises has not been restored to such condition, Lessor shall provide written notice to Lessee (and Lessee shall have a license duringthis 90-day period to enter upon the Premises for the completion of same), failing which, Lessor may so restore said Xxxxxxxx and charge Lessee for such expense, which reasonable expense Lessee agrees to assume and pay. Lessee shallcontinue to pay rent on a monthly basis until it completes such restoration.
b. In the event Lessee fails to remove said equipment and materials within 90 days of such termination or expiration as aforementioned, then said equipment and materials shall, subject to the interests of a permitted mortgagee, Lessor shall have the right, at its option, to remove said equipment and materials and to restore the leased Premises to good repair and safe condition as hereinbefore described and charge the expense thereof to Lessee, which expense Lessee agreesto assume and pay.c
x. Xxxxxx shall have the right, upon thirty (30) days prior written notice to OperatorLessee, to terminate this Agreement in its entirety, upon or after the happening of one or oneor more of the following events, if said event or events shall then be continuing:
(i) d. If Operator Xxxxxx shall make a general assignment for the benefit of creditors; orcreditors;or
(ii) a. If Operator Lessee shall file a voluntary petition in bankruptcy or a petition seeking their its reorganization or the readjustment of their its indebtedness under the underthe Federal Bankruptcy laws or under any similar State state laws; or
(iii) b. If an involuntary petition in bankruptcy shall be filed against Operator and Operator Xxxxxxxxx Xxxxxx is thereafter adjudicated a bankruptcy bankrupt thereunder; or
(iv) c. If Operator Lessee shall consent to the appointment of a receiver, trustee, or liquidator of all or substantially all of the property of OperatorXxxxxx; or
(v) d. If Operator Lessee shall fail to pay the SASO Fee rental charges or other money payments required by this Agreement instrument and such failure shall not be remedied within thirty (30) days following receipt by Operator Xxxxxx of written demand from OwnerLessor to do so; or
(vii) e. If Operator shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by them hereunder and shall fail to commence with due diligence the remedying of said default within thirty (30) days following receipt by Operator of written demand from Owner to do so.
B. Operator shall have the right, after thirty (30) days written notice to Owner, to terminate or suspend this Agreement upon the happening of one or more of the following events, if said event or events shall then be continuing:
(i) The issuance by any court of competent jurisdiction of an injunction, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for a period of at least ninety (90) consecutive days.
(ii) If Owner Lessee shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by it under this Agreement lease and shall fail to cure or commence to cure said default within thirty (30) days following receipt of receiptof written demand from Operator Lessor to do so; or.
(iii) If all e. Lessee shall not have the right to without Xxxxxx’s consent, to assign this Agreement or a mutual sublet the whole or any part of the Airport or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts Premises.
f. Access to the secure areas of God or the public enemy;
(iv) If the United States Government or any of its agencies shall occupy the Airport shall only be grantedthrough the Airport Manager’s office at no additional cost other than appropriate refundable deposits for access to gate cards.
g. Lessee shall have the right, upon thirty (30) days written notice to Lessor, toterminate or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for a period of thirtysuspend this Agreement.
Appears in 1 contract
Samples: Land Lease Agreement
Expiration or Termination. A. Owner shall have the right, upon thirty (30) days prior written notice to Operator, to terminate this Agreement in its entirety, upon or after the happening of one or more of the following events, if said event or events shall then be continuing:
(i) If Operator shall make a general assignment for the benefit of creditors; or
(ii) If Operator shall file a voluntary petition in bankruptcy or a petition seeking their reorganization or the readjustment of their indebtedness under the Federal Bankruptcy laws or under similar State laws; or
(iii) If an involuntary petition in bankruptcy shall be filed against Operator and Operator is thereafter adjudicated a bankruptcy thereunder; or
(iv) If Operator shall consent to the appointment of a receiver, trustee, or liquidator of all or substantially all of the property of Operator; or
(v) If Operator shall fail to pay the SASO Operating Fee or other money payments required by this Agreement and such failure shall not be remedied within thirty (30) days following receipt by Operator of written demand from Owner; or
(vii) If Operator shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by them hereunder and shall fail to commence with due diligence the remedying of said default within thirty (30) days following receipt by Operator of written demand from Owner to do so.
B. Operator shall have the right, after thirty (30) days written notice to Owner, to terminate or suspend this Agreement upon the happening of one or more of the following events, if said event or events shall then be continuing:
(i) The issuance by any court of competent jurisdiction of an injunction, order or decree preventing or restraining the use of the Airport for normal airport purposes or the use of any part thereof which may be used by Operator and which is necessary for Operator's operations of the Airport, which remains in force for a period of at least ninety (90) consecutive days.
(ii) If Owner shall default in fulfilling any of the terms, covenants or conditions to be fulfilled by it under this Agreement and shall fail to cure said default within thirty (30) days following receipt of written demand from Operator to do so; or
(iii) If all or a mutual part of the Airport or Airport facilities shall be destroyed by fire, explosion, earthquake, other casualty, or acts of God or the public enemy;
(iv) If the United States Government or any of its agencies shall occupy the Airport or any substantial part thereof to such an extent as to interfere materially with Operator’s operations, for a period of thirty
Appears in 1 contract
Samples: Operating Rights Agreement