Common use of Forfeiture for Breach of Contract Clause in Contracts

Forfeiture for Breach of Contract. It is mutually understood and agreed that any material failure by TISD to perform under this Agreement that remains uncured after receipt of ten (10) day’s written notice shall be considered a material breach and default. In addition to any other remedy afforded OP by law or this Agreement, OP is entitled upon material breach to an order of forfeiture authorizing OP to hold, maintain, lease, sell or otherwise dispose of the Facilities as defined by this Agreement.

Forfeiture for Breach of Contract. It is mutually understood and agreed that any material failure by TISD OP to perform under this Agreement that remains uncured after receipt of ten (10) day’s written notice shall be considered a material breach and default. In addition to any other remedy afforded OP TISD by law or this Agreement, OP TISD is entitled upon material breach to an order of forfeiture authorizing OP TISD to hold, maintain, lease, sell or otherwise dispose of the Facilities as defined by this Agreement.